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Kopin (KOPN) Piotroski F-Score : 5 (As of May. 01, 2024)


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What is Kopin Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kopin has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Kopin's Piotroski F-Score or its related term are showing as below:

KOPN' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 5

During the past 13 years, the highest Piotroski F-Score of Kopin was 5. The lowest was 2. And the median was 4.


Kopin Piotroski F-Score Historical Data

The historical data trend for Kopin's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Kopin Piotroski F-Score Chart

Kopin Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 5.00 4.00 2.00 5.00

Kopin Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 4.00 3.00 5.00 5.00

Competitive Comparison of Kopin's Piotroski F-Score

For the Electronic Components subindustry, Kopin's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kopin's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Kopin's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kopin's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was -2.629 + -8.18 + -2.45 + -6.489 = $-19.75 Mil.
Cash Flow from Operations was -4.175 + -3.818 + -3.8 + -3.469 = $-15.26 Mil.
Revenue was 10.758 + 10.46 + 10.598 + 8.578 = $40.39 Mil.
Gross Profit was 4.134 + 4.763 + 5.161 + 1.384 = $15.44 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(43.752 + 59.525 + 55.364 + 54.605 + 49.312) / 5 = $52.5116 Mil.
Total Assets at the begining of this year (Dec22) was $43.75 Mil.
Long-Term Debt & Capital Lease Obligation was $1.83 Mil.
Total Current Assets was $39.83 Mil.
Total Current Liabilities was $15.88 Mil.
Net Income was -1.373 + -5.647 + -6.149 + -6.157 = $-19.33 Mil.

Revenue was 11.578 + 11.909 + 11.729 + 12.184 = $47.40 Mil.
Gross Profit was 3.796 + 4.003 + 3.742 + 3.302 = $14.84 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(63.008 + 60.29 + 55.572 + 49.478 + 43.752) / 5 = $54.42 Mil.
Total Assets at the begining of last year (Dec21) was $63.01 Mil.
Long-Term Debt & Capital Lease Obligation was $2.58 Mil.
Total Current Assets was $30.86 Mil.
Total Current Liabilities was $14.46 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kopin's current Net Income (TTM) was -19.75. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kopin's current Cash Flow from Operations (TTM) was -15.26. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=-19.748/43.752
=-0.45136222

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-19.326/63.008
=-0.30672296

Kopin's return on assets of this year was -0.45136222. Kopin's return on assets of last year was -0.30672296. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Kopin's current Net Income (TTM) was -19.75. Kopin's current Cash Flow from Operations (TTM) was -15.26. ==> -15.26 > -19.75 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1.833/52.5116
=0.03490657

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2.577/54.42
=0.04735391

Kopin's gearing of this year was 0.03490657. Kopin's gearing of last year was 0.04735391. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=39.831/15.878
=2.50856531

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=30.861/14.457
=2.13467524

Kopin's current ratio of this year was 2.50856531. Kopin's current ratio of last year was 2.13467524. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Kopin's number of shares in issue this year was 110.597. Kopin's number of shares in issue last year was 91.765. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=15.442/40.394
=0.3822845

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=14.843/47.4
=0.31314346

Kopin's gross margin of this year was 0.3822845. Kopin's gross margin of last year was 0.31314346. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=40.394/43.752
=0.92324922

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=47.4/63.008
=0.75228542

Kopin's asset turnover of this year was 0.92324922. Kopin's asset turnover of last year was 0.75228542. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+1+1+0+1+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kopin has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Kopin  (NAS:KOPN) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Kopin Piotroski F-Score Related Terms

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Kopin (KOPN) Business Description

Traded in Other Exchanges
Address
125 North Drive, Westborough, MA, USA, 01581-3335
Kopin Corp is a developer, manufacturer, and seller of components, subassemblies, and head-worn and hand-held systems. It serves soldiers, avionic, armored vehicles and training and simulation military applications, and others. The company's product portfolio includes LCD; ferroelectric liquid crystal on silicon devices (FLCoS); Organic Light Emitting Diodes (OLED) and others. Geographically, it derives a majority of its revenue from the Americas and also has a presence in Asia-Pacific; Europe, and Other Countries.
Executives
Fan John C C officer: CEO & President 695 MYLES STANDISH BLVD, TAUNTON MA 02780
Scott L Anchin director 16990 GOLDENTOP ROAD, SUITE A, SAN DIEGO CA 92127
Hsieh Chi Chia Dr director MICROCELECTRONICS TECHNOLOGY INC, 1 INNOVATION RD II HISINCHU SCIENCE BASE, HSINCH 30077 TAIWAN ROC F5 02780
James K Brewington director 600 MOUNTAIN AVE, MURRAY HILL NJ 07974
Michael Andrew Murray officer: CEO KOPIN CORPORATION, 125 NORTH DRIVE, WESTBOROUGH MA 01851
Morton Collins director
Paul Christopher Baker officer: Strategic Business Officer C/O KOPIN CORPORATION, 125 NORTH DRIVE, WESTBOROUGH MA 01581
Jill Janice Avery director 381 BEACON STREET, BOSTON MA 02116
David Brook director 6 DUSTON LANE, ACTON MA 01720
Richard Sneider officer: CFO 695 MYLES STANDISH BLVD, TAUNTON MA 02780
Hong K Choi officer: CTO C/O KOPIN CORP, 695 MYLAS STANDISH BLVD, TAVNTON MA 02780
Bor Yeu Tsaur officer: Executive Vice President C/O KOPIN CORP, 695 MYLAS STANDISH BLVD, TAVNTON MA 02780
Osgood Richard Hoe Iii director 20 HUNTER RANCH ROAD, NAPA CA 94558
Goertek Inc. 10 percent owner NO. 268, DONGFANG ROAD, HIGH-TECH INDUSTRIAL DEVELOPMENT ZONE, WEIFANG, SHANDONG PROVINCE F4 261031
Andrew Chapman director NARAD NETWORKS, 515 GROTON ROAD, WESTFORD MA 01886