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Surrozen (Surrozen) Piotroski F-Score : 3 (As of May. 05, 2024)


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What is Surrozen Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Surrozen has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

SRZN' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 6
Current: 3

During the past 4 years, the highest Piotroski F-Score of Surrozen was 6. The lowest was 3. And the median was 5.


Surrozen Piotroski F-Score Historical Data

The historical data trend for Surrozen'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.

Surrozen Piotroski F-Score Chart

Surrozen Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 6.00 3.00

Surrozen Quarterly Data
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 6.00 N/A N/A 5.00 3.00

Competitive Comparison of Surrozen's Piotroski F-Score

For the Biotechnology subindustry, Surrozen'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.


Surrozen's Piotroski F-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Surrozen's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Surrozen'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 -14.297 + -9.387 + -10.445 + -8.913 = $-43.04 Mil.
Cash Flow from Operations was -14.17 + -8.749 + -10.133 + -7.311 = $-40.36 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(89.435 + 74.2 + 63.999 + 53.973 + 46.08) / 5 = $65.5374 Mil.
Total Assets at the begining of this year (Dec22) was $89.44 Mil.
Long-Term Debt & Capital Lease Obligation was $0.88 Mil.
Total Current Assets was $41.13 Mil.
Total Current Liabilities was $7.15 Mil.
Net Income was -7.947 + -13.925 + -13.357 + -0.775 = $-36.00 Mil.

Revenue was 0 + 0 + 0 + 12.5 = $12.50 Mil.
Gross Profit was 0 + 0 + 0 + 12.5 = $12.50 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(137.174 + 117.655 + 104.127 + 91.434 + 89.435) / 5 = $107.965 Mil.
Total Assets at the begining of last year (Dec21) was $137.17 Mil.
Long-Term Debt & Capital Lease Obligation was $3.38 Mil.
Total Current Assets was $81.31 Mil.
Total Current Liabilities was $9.73 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.

Surrozen's current Net Income (TTM) was -43.04. ==> 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.

Surrozen's current Cash Flow from Operations (TTM) was -40.36. ==> 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)
=-43.042/89.435
=-0.48126572

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-36.004/137.174
=-0.26246956

Surrozen's return on assets of this year was -0.48126572. Surrozen's return on assets of last year was -0.26246956. ==> 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.

Surrozen's current Net Income (TTM) was -43.04. Surrozen's current Cash Flow from Operations (TTM) was -40.36. ==> -40.36 > -43.04 ==> 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
=0.882/65.5374
=0.01345796

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=3.376/107.965
=0.03126939

Surrozen's gearing of this year was 0.01345796. Surrozen's gearing of last year was 0.03126939. ==> 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
=41.132/7.148
=5.75433688

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=81.305/9.732
=8.35439786

Surrozen's current ratio of this year was 5.75433688. Surrozen's current ratio of last year was 8.35439786. ==> Last year's current ratio is higher ==> Score 0.

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.

Surrozen's number of shares in issue this year was 2.036. Surrozen's number of shares in issue last year was 2.271. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=0/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12.5/12.5
=1

Surrozen's gross margin of this year was . Surrozen's gross margin of last year was 1. ==> Last year's gross margin is higher ==> Score 0.

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)
=0/89.435
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=12.5/137.174
=0.09112514

Surrozen's asset turnover of this year was 0. Surrozen's asset turnover of last year was 0.09112514. ==> Last year's asset turnover is higher ==> Score 0.

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+0+1+0+0
=3

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

Surrozen has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Surrozen  (NAS:SRZN) 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.


Surrozen Piotroski F-Score Related Terms

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Surrozen (Surrozen) Business Description

Traded in Other Exchanges
N/A
Address
171 Oyster Point Boulevard, Suite 400, South San Francisco, CA, USA, 94080
Surrozen Inc is a clinical-stage biotechnology company committed to discovering and developing drug candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair, in a broad range of organs and tissues. Its product candidate includes SZN-1326 (Fzd5/Lrp6, SWAP), and SZN-043 (E3/ASGR1, SWEETS).
Executives
Yang Li officer: Exec. Vice President, Research C/O SURROZEN, INC., 171 OYSTER POINT BLVD., SUITE 400, SOUTH SAN FRANCISCO CA 94080
Anna Berkenblit director 830 WINTER STREET, WALTHAM MA 02451
Eric Bjerkholt director 132 PURDURE AVENUE, KENGSINGTON CA 94708
Blutt Mitchell J Md director, 10 percent owner 1370 AVENUE OF THE AMERICA, SUITE 3301, NEW YORK NY 10019
Christopher Y Chai director 2400 BAYSHORE PARKWAY, SUITE 200, MOUNTAIN VIEW CA 94043
Mary Haak-frendscho director 171 OYSTER POINT BLVD., SUITE 400, SOUTH SAN FRANCISCO CA 94080
Wen-chen Yeh officer: Chief Scientific Officer 171 OYSTER POINT BLVD., SUITE 400, SOUTH SAN FRANCISCO CA 94080
House Joshua Cory other: Former VP Business Development C/O CONSONANCE-HWF ACQUISITION CORP, 1 PALMER SQUARE, SUITE 305, PRINCETON NJ 08540
Geertrui Vanhove officer: Chief Medical Officer 1333 S. SPECTRUM BLVD #100, CHANDLER AZ 85286
Charles O Williams officer: Chief Financial Officer C/O HERITAGE FINANCIAL GROUP, 721 NORTH WESTOVER BOULEVARD, ALBANY GA 31707
Mace Rothenberg director 171 OYSTER POINT BLVD., SUITE 400, SOUTH SAN FRANCISCO CA 94080
Donald J Santel other: Former Director 4362 24TH STREET, SAN FRANCISCO CA 94114
David J Woodhouse director 630 GATEWAY BLVD., SOUTH SAN FRANCISCO CA 94080
Column Group Iii Gp, Lp 10 percent owner 1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Column Group Iii, Lp 10 percent owner 1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158

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