Altman Z-Score:

The Altman Z-score is calculated by using the following formula:


A = working_capital / total_assets

B = retained_earnings / total_assets

C = ebit / total_assets

D = market_cap / total_liabilities

E = revenue / total_assets


Altman Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E



Piotroski Score:


The score consists of the following criteria (each rule assigning one point):


Profitability Criteria:


The Rules for this Criteria (4 points):

1. roa_ttm > 0: Score +1

2. net_income_ttm > 0: Score +1

3. operating_cashflow_ttm > 0: Score +1

4. operating_cashflow_ttm > net_income_ttm: Score +1


Leverage, Liquidity, and Source of Funds Criteria:


The Rules for this Criteria:


5. current_ratio_this_year > current_ratio_last_year: Score + 1

6. long_term_debt_this_year < long_term_debt_last_year: Score + 1

7. outstanding_shares_this_year < outstanding_shares_last_year: Score + 1



Operating Efficiency Criteria:


The Rules for this criteria:

8. gross_margin_quarter > gross_margin_last_year_quarter: Score +1

9. asset_turnover_ttm > asset_turnover_last_year: Score + 1


The Piotroski score is a discrete score between zero and nine that reflects nine criteria used to determine the strength of a firm's financial position.