Piotroski F-Score Stocks
Free Piotroski F-Score screening for S&P 500 stocks. Identify financially strong companies using Joseph Piotroski's value investing methodology based on publicly available SEC data.
The information on this page is for informational purposes only and does not constitute investment advice, financial advice, or any recommendation. Billiver does not recommend buying, selling, or holding any security. Past performance is not indicative of future results.
Data may be delayed and accuracy is not guaranteed. All investment decisions are solely your responsibility. Verify information independently and consult a qualified financial advisor before investing. About · Methodology
319 Companies Meeting Criteria
Showing 151–200 of 319 companies, ranked by F-Score.
| # | Company | Sector | F-Score | ROA | Profit Margin | Free Cash Flow |
|---|---|---|---|---|---|---|
| 151 | ETNEaton Corporation | Industrials | 5/6 | 9.7% | 14.7% | $3.6B |
| 152 | EVREvercore | Financials | 5/6 | 11.9% | 14.8% | $1.2B |
| 153 | EXR |
What is the Piotroski F-Score?
The Piotroski F-Score is a 9-point scoring system developed by accounting professor Joseph Piotroski in 2000 to identify financially strong value stocks. The original score evaluates companies across three dimensions: Profitability (4 signals), Leverage/Liquidity (3 signals), and Operating Efficiency (2 signals). Billiver uses a simplified 6-point version based on publicly available SEC EDGAR data, focusing on the most impactful factors: (1) Profitability - Positive ROA shows the company generates returns on assets, (2) Cash Generation - Positive operating cash flow indicates real earnings quality, (3) Earnings Quality - Operating cash flow exceeding net income suggests low accounting manipulation, (4) Financial Health - Debt-to-equity below 0.5 shows conservative leverage, (5) Cash Flow Strength - Positive free cash flow means the company generates cash after investments, (6) Profit Margins - Profit margin above 10% indicates pricing power and efficiency. Companies scoring 5-6 on our simplified scale (equivalent to 7-9 on the full scale) demonstrate strong financial fundamentals. This approach has been validated in academic research and is used by value investors to find quality companies trading at reasonable prices.
Simplified F-Score >= 5/6
Results are based on SEC EDGAR filings. Companies with missing, unreliable, or extreme outlier values are excluded from screening.
How to Use This Screener
Step 1: Review the Results
The companies listed above have passed our simplified 6-point F-Score criteria, scoring 5 or 6 out of 6. These are financially strong companies with solid profitability, healthy cash flow, and conservative leverage.
Step 2: Click Through to Company Pages
Each company links to its detailed profile page where you can view the full Piotroski score breakdown, individual criterion scores, and historical trends. Look for companies where the F-Score has been consistently high over multiple quarters.
Step 3: Combine with Other Analysis
The F-Score works best when combined with valuation metrics, competitive analysis, and your investment thesis. Use the Related Rankings section below to explore other financial metrics like ROE, profit margin, and debt levels.
Important Note
A high F-Score indicates financial strength but is not a standalone buy signal. The original Piotroski study showed that F-Score works best for identifying quality among value stocks (low P/B ratio). Always conduct comprehensive research before investing.
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Frequently Asked Questions
What is the Piotroski F-Score?
The Piotroski F-Score is a 9-point scoring system developed by accounting professor Joseph Piotroski to identify financially strong value stocks. Each point is awarded for meeting specific criteria across profitability, leverage, and operating efficiency. Stocks scoring 7-9 are considered financially strong, while scores 0-3 indicate potential financial distress.
What are the 9 criteria in the Piotroski F-Score?
The 9 criteria are divided into three categories: Profitability (positive ROA, positive operating cash flow, increasing ROA, quality of earnings), Leverage/Liquidity (decreasing debt ratio, increasing current ratio, no new shares issued), and Operating Efficiency (increasing gross margin, increasing asset turnover). Each criterion earns 1 point if met, for a maximum score of 9.
How does Billiver calculate the Piotroski F-Score?
Billiver uses a simplified 6-point version based on available SEC EDGAR data: (1) Positive ROA, (2) Positive operating cash flow, (3) Quality of earnings (OCF > Net Income), (4) Low leverage (D/E < 0.5), (5) Positive free cash flow, (6) Strong profit margin (>10%). Companies scoring 5-6 are considered financially strong. This simplified version focuses on the most impactful factors while maintaining the spirit of Piotroski's original methodology.
Why is Piotroski F-Score screening free on Billiver?
Billiver offers free F-Score screening by using public SEC EDGAR data and focusing on the most important F-Score factors. Our goal is to make institutional-quality screening accessible to all investors without subscription fees.
Is a high F-Score a buy signal?
No. A high Piotroski F-Score indicates financial strength and improving fundamentals, but it is not a standalone buy signal. The F-Score works best when combined with other factors like valuation, competitive position, and your investment thesis. Always conduct your own research before making investment decisions.