Sunworks, Inc.
SUNWQ Technology Solar
Sunworks, Inc.’s revenue for fiscal 2022 (year ended December 2022) was $161.9 million. Revenue growth for five consecutive years.
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Sunworks, Inc. (SUNWQ) Piotroski F-score
Sunworks, Inc.'s Piotroski F-score for fiscal 2022 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2021.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2022 | 4 | 0.00 |
| FY2021 | 4 | 0.00 |
| FY2020 | 4 | 3.00 |
| FY2019 | 1 | (2.00) |
| FY2018 | 3 | 0.00 |
| FY2017 | 3 | 1.00 |
| FY2016 | 2 | — |
How fiscal 2022’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (25.56%) | (34.77%) | Fail | 0 |
| Positive operating cash flow | (28.19m) | (29.21m) | Fail | 0 |
| Rising return on assets | (25.56%) | (34.77%) | Pass | 1 |
| Cash flow above net income | 21.00k | (2.58m) | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.01 | Fail | 0 |
| Rising current ratio | 1.46 | 2.16 | Fail | 0 |
| No new shares issued | 32,830,400 | 26,947,000 | Fail | 0 |
| Rising gross margin | 44.04% | 40.32% | Pass | 1 |
| Rising asset turnover | 1.47 | 1.32 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
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 |
|---|---|
| SUNE SUNation Energy Inc. compare | 7 |
| SPIEQ SPI Energy Co., Ltd. compare | 5 |
| ASTI Ascent Solar Technologies Inc. compare | 5 |
| ISUNQ iSun, Inc. compare | 4 |
| ZEO Zeo Energy Corp. compare | 4 |
| SUNWQ Sunworks, Inc. | 4 |
| MAXNQ Maxeon Solar Technologies, Ltd. compare | 1 |
| BEEM Beam Global compare | — |
| VSTTF Vast Renewables 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