Eurodry Piotroski F Score

EDRY
 Stock
  

USD 17.80  0.29  1.60%   

This module uses fundamental data of Eurodry to approximate its Piotroski F score. Eurodry F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Eurodry. These three categories are profitability, efficiency, and funding. Some research analysts and sophisticated value traders use Piotroski F Score to find opportunities outside of the conventional market and financial statement analysis.They believe that some of the new information about Eurodry financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Continue to Eurodry Altman Z Score, Eurodry Correlation, Eurodry Valuation, as well as analyze Eurodry Alpha and Beta and Eurodry Hype Analysis.
  
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Eurodry Issuance Repayment of Debt Securities is fairly stable at the moment as compared to the past year. Eurodry reported Issuance Repayment of Debt Securities of 30.54 Million in 2021. Debt to Equity Ratio is likely to rise to 1.21 in 2022, whereas Total Debt is likely to drop slightly above 72 M in 2022. Eurodry Return on Average Equity is fairly stable at the moment as compared to the past year. Eurodry reported Return on Average Equity of 0.53 in 2021. Return on Invested Capital is likely to rise to 0.22 in 2022, whereas Asset Turnover is likely to drop 0.40 in 2022.
At this time, it appears that Eurodry's Piotroski F Score is Healthy. Although some professional money managers and academia have recently criticized Piotroski F-Score model, we still consider it an effective method of predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
5.0
Piotroski F Score - Healthy
1
Current Return On AssetsPositiveFocus
2
Change in Return on AssetsIncreasedFocus
3
Cash Flow Return on AssetsPositiveFocus
4
Current Quality of Earnings (accrual)ImprovingFocus
5
Asset Turnover GrowthDecreaseFocus
6
Current Ratio ChangeDecreaseFocus
7
Long Term Debt Over Assets ChangeLower LeverageFocus
8
Change In Outstending SharesIncreaseFocus
9
Change in Gross MarginNo ChangeFocus

Eurodry Piotroski F Score Drivers

The critical factor to consider when applying the Piotroski F Score to Eurodry is to make sure Eurodry is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Eurodry's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Eurodry's financial numbers are properly reported.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares2.6 M2.5 M
Fairly Up
Increasing
Slightly volatile
Weighted Average Shares Diluted2.6 M2.5 M
Fairly Up
Increasing
Slightly volatile
Net Cash Flow from Operations42.2 M39.1 M
Significantly Up
Increasing
Slightly volatile
Total Assets152.3 M161.3 M
Notably Down
Increasing
Slightly volatile
Total Liabilities80.6 M82.4 M
Fairly Down
Increasing
Slightly volatile
Current Assets32.8 M30.4 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities16 M17.7 M
Moderately Down
Increasing
Slightly volatile
Total Debt72 M78.7 M
Significantly Down
Increasing
Slightly volatile
Return on Average Assets0.230.212
Significantly Up
Increasing
Slightly volatile
Gross Margin0.730.8
Significantly Down
Increasing
Slightly volatile
Asset Turnover0.40.465
Fairly Down
Increasing
Slightly volatile

Eurodry F Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Eurodry's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Eurodry in a much-optimized way.

About Eurodry Piotroski F Score

F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.

Book Value per Share

27.85

Share
Eurodry Book Value per Share is fairly stable at the moment as compared to the past year. Eurodry reported Book Value per Share of 31.21 in 2021

Eurodry Current Valuation Drivers

We derive many important indicators used in calculating different scores of Eurodry from analyzing Eurodry's financial statements. These drivers represent accounts that assess Eurodry's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Eurodry's important valuation drivers and their relationship over time.
201720182019202020212022 (projected)
Earnings Before Interest Taxes and Depreciation Amortization EBITDA7.45 M9.46 M9.99 M3.01 M41.15 M44.4 M
Earnings Before Interest Taxes and Depreciation Amortization USD7.45 M9.46 M9.99 M3.01 M41.15 M44.4 M
Earnings before Tax849.7 K1.12 M16.5 K(5.88 M)31.15 M33.61 M
Free Cash Flow(6.73 M)(25.08 M)14 M1.71 M2.31 M2.5 M
Invested Capital121.24 M174.33 M153.89 M134.76 M192.75 M187.2 M
Tangible Asset Value97.45 M127.71 M117.69 M107.51 M161.33 M152.3 M
Working Capital(2.02 M)5.48 M(1.59 M)(13.2 M)12.7 M13.71 M

About Eurodry Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Eurodry's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Eurodry using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Eurodry based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2022, it operated a fleet of ten drybulk carriers comprising five Panamax drybulk carriers, two Ultramax drybulk carrier, two Kamsarmax carriers, and one Supramax drybulk carrier with a cargo capacity of 726,555 deadweight tons. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece.

Eurodry Investors Sentiment

The influence of Eurodry's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Eurodry. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Eurodry in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Eurodry's short interest history, or implied volatility extrapolated from Eurodry options trading.

Current Sentiment - EDRY

Eurodry Investor Sentiment

Macroaxis portfolio users are insensible in their opinion about investing in Eurodry. What is your opinion about investing in Eurodry? Are you bullish or bearish?
Bullish
Bearish
50% Bullish
50% Bearish

Pair Trading with Eurodry

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eurodry position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Eurodry will appreciate offsetting losses from the drop in the long position's value.

Eurodry Pair Correlation

Correlation Analysis For Direct Indexing and Tax-loss Harvesting

The ability to find closely correlated positions to Eurodry could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eurodry when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Eurodry - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Eurodry to buy it.
The correlation of Eurodry is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eurodry moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eurodry moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eurodry can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Eurodry Altman Z Score, Eurodry Correlation, Eurodry Valuation, as well as analyze Eurodry Alpha and Beta and Eurodry Hype Analysis. Note that the Eurodry information on this page should be used as a complementary analysis to other Eurodry's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

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Is Eurodry's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Eurodry. If investors know Eurodry will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Eurodry listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
18.16
Market Capitalization
52 M
Quarterly Revenue Growth YOY
1.13
Return On Assets
0.21
Return On Equity
0.59
The market value of Eurodry is measured differently than its book value, which is the value of Eurodry that is recorded on the company's balance sheet. Investors also form their own opinion of Eurodry's value that differs from its market value or its book value, called intrinsic value, which is Eurodry's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Eurodry's market value can be influenced by many factors that don't directly affect Eurodry's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eurodry's value and its price as these two are different measures arrived at by different means. Investors typically determine Eurodry value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eurodry's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.