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I’ll use Piotroski’s nine variables to get an overview of financial distress risk at March 2021.
2. Does the company produce positive cash flow from operations? Caffyns generated £4.6m of operating cash flows before movements in working capital, thus a Piotroski point is gained. 3. Has return on assets improved? A profit in 2021 following a loss in 2020 means an improvement. Third Piotroski point. 4. Is cash flow greater than profits? Yes. Fourth point scored. 5. Has the ratio of long-term debt to average total assets during the year diminished? For 2020: £11.8m/£94.7m = 12.46% For 2021: £12.2m/£95.5m = 12.77%. No Piotroski point. 6. Has the current ratio improved? Current ………………To read more subscribe to my premium newsletter Deep Value Shares – click here http://newsletters.advfn.com/deepvalueshares/subscribe-1
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Prof. Glen Arnold
I'm a full-time investor running my portfolio from peaceful Leicestershire countryside. I also happen to be UK´s best selling investment book author and a Financial Times Best selling author. Originally, I wrote all my ideas out in full on this website. Now that ADVFN publish them they are entitled to display the full version for six months – you can see them here. Thus can I only post the first few paragraphs here for anything younger than six months.
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