Piotroski F Score Calculator

Background.

Piotroski F Score Calculator is a checking tool for people trying to count the nine published profitability, leverage-liquidity and operating-efficiency signals. Piotroski's F-score uses year-over-year accounting signals to separate financially stronger high-book-to-market firms. That definition leads directly to the displayed relationship: “F-score = sum of nine published binary financial-strength signals.”

The editable entries are positive net income, positive operating cash flow, improving return on assets, cash flow exceeds net income, lower leverage, improving liquidity, no new shares, improving gross margin, improving asset turnover. Use values from the document or measurement that governs this piotroski f score question; the defaults are only the worked fixture below. The main trap is specific to piotroski f score: it is a screening score, not a probability of default, and restatements or inconsistent periods can flip binary points.

Joseph Piotroski, Value Investing: The Use of Historical Financial Statement Information (BIBLIOGRAPHIC) documents the convention or governing rule used here. The piotroski f score output is a transparent scenario under those facts: it does not manufacture an unentered market price, professional determination, carrier quote, legal eligibility finding or locally adopted code value.

What is piotroski f score calculator?

Piotroski F Score is the relationship behind this decision: piotroski's F-score uses year-over-year accounting signals to separate financially stronger high-book-to-market firms. On this page it means F-score = sum of nine published binary financial-strength signals. It is a screening score, not a probability of default, and restatements or inconsistent periods can flip binary points; that is the line between the reported quantity and a broader business finance analysis.

How to use this calculator.

1. 01Confirm that “F-score = sum of nine published binary financial-strength signals” matches the piotroski f score convention you need.
2. 02Replace the fixture values for positive net income, positive operating cash flow, improving return on assets, cash flow exceeds net income, lower leverage, improving liquidity, no new shares, improving gross margin, improving asset turnover with dated values from the governing record.
3. 03Keep all currencies, measurement units and time periods on the same basis before calculating.
4. 04Read piotroski f-score together with this boundary: It is a screening score, not a probability of default, and restatements or inconsistent periods can flip binary points.

The formula.

The calculation uses F-score = sum of nine published binary financial-strength signals. In this piotroski f score model, the entered terms are positive net income, positive operating cash flow, improving return on assets, cash flow exceeds net income, lower leverage, improving liquidity, no new shares, improving gross margin, improving asset turnover. Piotroski's F-score uses year-over-year accounting signals to separate financially stronger high-book-to-market firms, which is why the relationship is presented under this name rather than as a universal alternative. It is a screening score, not a probability of default, and restatements or inconsistent periods can flip binary points. Calculations keep full decimal precision through the relationship and round only the returned display values.

A worked example.

Frequently asked questions.

References& sources.

1. [1]Joseph Piotroski, Value Investing: The Use of Historical Financial Statement Information (BIBLIOGRAPHIC). Retrieved 2026-08-07. access: open unless marked otherwise.
2. [2]Financial Accounting Standards Board. Accounting Standards Codification. Retrieved 2026-08-07. independence: primary; access: open.
3. [3]U.S. Census Bureau. Quarterly financial report. Retrieved 2026-08-07. independence: secondary-check; access: open.