USA TODAY Co., Inc.
TDAY Communication Services Publishing
USA TODAY Co., Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, down 8.25% from fiscal 2024. In the quarter to June 2026, revenue fell 8.30%, EPS fell 88.9%, free cash flow grew 1.14% and total debt fell 3.91%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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USA TODAY Co., Inc. (TDAY) Piotroski F-score
USA TODAY Co., Inc.'s Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 6 | 2.00 |
| FY2024 | 4 | (1.00) |
| FY2023 | 5 | 1.00 |
| FY2022 | 4 | (3.00) |
| FY2021 | 7 | 3.00 |
| FY2020 | 4 | 2.00 |
| FY2019 | 2 | (3.00) |
| FY2018 | 5 | 1.00 |
| FY2017 | 4 | (1.00) |
| FY2016 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 0.09% | (1.25%) | Pass | 1 |
| Positive operating cash flow | 114.39m | 100.31m | Pass | 1 |
| Rising return on assets | 0.09% | (1.25%) | Pass | 1 |
| Cash flow above net income | 112.64m | 126.66m | Pass | 1 |
| Falling long-term leverage | 0.46 | 0.48 | Pass | 1 |
| Rising current ratio | 0.75 | 0.78 | Fail | 0 |
| No new shares issued | 145,095,000 | 142,516,000 | Fail | 0 |
| Rising gross margin | 38.72% | 38.41% | Pass | 1 |
| Rising asset turnover | 1.19 | 1.19 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
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 |
|---|---|
| NYT The New York Times Company compare | 9 |
| WLY John Wiley & Sons, Inc. compare | 8 |
| WLYB John Wiley & Sons, Inc. compare | 8 |
| PSO Pearson, PLC compare | 7 |
| SCHL Scholastic Corporation compare | 7 |
| TDAY USA TODAY Co., Inc. | 6 |
| EDUC Educational Development Corporation compare | 5 |
| LEE Lee Enterprises, Incorporated compare | 3 |
| TNMG TNL Mediagene compare | 3 |
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