PAVmed Inc.
PAVM Healthcare Medical Devices
PAVmed Inc.’s revenue for fiscal 2025 (year ended December 2025) was $71,000.00, down 97.6% from fiscal 2024. In the quarter to June 2026, revenue grew 450.0%, EPS grew 96.1% and free cash flow fell 125.6%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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PAVmed Inc. (PAVM) Piotroski F-score
PAVmed Inc.'s Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | (3.00) |
| FY2024 | 5 | 1.00 |
| FY2023 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (10.86%) | 100.24% | Fail | 0 |
| Positive operating cash flow | (5.21m) | (33.55m) | Fail | 0 |
| Rising return on assets | (10.86%) | 100.24% | Fail | 0 |
| Cash flow above net income | (1.43m) | (65.52m) | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 0.17 | 0.06 | Pass | 1 |
| No new shares issued | 670,500 | 322,400 | Fail | 0 |
| Rising gross margin | (207.04%) | (61.60%) | Fail | 0 |
| Rising asset turnover | 0.00 | 0.09 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| NSPR InspireMD, Inc. compare | 5 |
| HSCS HeartSciences Inc. compare | 4 |
| LFWD Lifeward Ltd. compare | 4 |
| ALUR Allurion Technologies, Inc. compare | 2 |
| PAVM PAVmed Inc. | 2 |
| ARAY Accuray Incorporated compare | 1 |
| PMI Flag Ship Acquisition Corp compare | — |
| MODD Modular Medical, Inc. compare | — |
| BDMD Baird Medical Investment Holdings Limited compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover