Novan Piotroski F Score

NOVN
 Stock
  

USD 2.36  0.07  3.06%   

This module uses fundamental data of Novan to approximate its Piotroski F score. Novan F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Novan Inc. 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 Novan financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Additionally, see Novan Altman Z Score, Novan Correlation, Novan Valuation, as well as analyze Novan Alpha and Beta and Novan Hype Analysis.
  
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Novan Total Debt is quite stable at the moment as compared to the past year. The company's current value of Total Debt is estimated at 1.13 Million. Debt Current is expected to rise to about 593.1 K this year, although the value of Issuance Repayment of Debt Securities will most likely fall to about 751.8 K. Novan Total Assets Per Share are quite stable at the moment as compared to the past year. The company's current value of Total Assets Per Share is estimated at 3.76. Asset Turnover is expected to rise to 0.05 this year, although the value of PPandE Turnover will most likely fall to 0.39.
At this time, it appears that Novan's Piotroski F Score is Frail. 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..
2.0
Piotroski F Score - Frail
1
Current Return On AssetsNegativeFocus
2
Change in Return on AssetsDecreasedFocus
3
Cash Flow Return on AssetsNegativeFocus
4
Current Quality of Earnings (accrual)ImprovingFocus
5
Asset Turnover GrowthIncreaseFocus
6
Current Ratio ChangeDecreaseFocus
7
Long Term Debt Over Assets ChangeHigher LeverageFocus
8
Change In Outstending SharesIncreaseFocus
9
Change in Gross MarginNo ChangeFocus

Novan Piotroski F Score Drivers

The critical factor to consider when applying the Piotroski F Score to Novan is to make sure Novan is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Novan'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 Novan's financial numbers are properly reported.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares18.4 M17.1 M
Significantly Up
Increasing
Slightly volatile
Weighted Average Shares Diluted18.4 M17.1 M
Significantly Up
Increasing
Slightly volatile
Total Assets74.4 M69 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities54.6 M50.6 M
Significantly Up
Increasing
Slightly volatile
Current Assets58.4 M54.1 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities9.6 M11.2 M
Fairly Down
Increasing
Slightly volatile
Total Debt1.1 M1.1 M
Fairly Up
Increasing
Slightly volatile
Gross Margin0.890.9
Fairly Down
Decreasing
Slightly volatile
Asset Turnover0.05240.0511
Fairly Up
Increasing
Slightly volatile

Novan Inc 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 Novan's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Novan in a much-optimized way.

About Novan 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

0.37

Share
Novan Book Value per Share is quite stable at the moment as compared to the past year. The company's current value of Book Value per Share is estimated at 0.37

Novan Current Valuation Drivers

We derive many important indicators used in calculating different scores of Novan from analyzing Novan's financial statements. These drivers represent accounts that assess Novan's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Novan's important valuation drivers and their relationship over time.
201720182019202020212022 (projected)
Net Income Per Employee(629.27 K)(264.02 K)(729.55 K)(1.27 M)(927.88 K)(1 M)
Average Assets34.07 M35.27 M33.78 M44.19 M50.82 M48.78 M
Earnings Before Interest Taxes and Depreciation Amortization EBITDA(35.7 M)(10.26 M)(28.78 M)(28.17 M)(29.36 M)(31.68 M)
Earnings Before Interest Taxes and Depreciation Amortization USD(34.15 M)(26.53 M)(28.34 M)(28.12 M)(25.31 M)(27.31 M)
Earnings before Tax(36.62 M)(29.24 M)(30.38 M)(29.29 M)(26.36 M)(28.45 M)
Average Equity8.99 M4.97 M(18.12 M)(491.75 K)(565.51 K)(610.16 K)
Enterprise Value64.01 M17.48 M68.28 M72.93 M65.64 M85.49 M
Free Cash Flow(32 M)(29.68 M)(20.3 M)(31.19 M)(28.07 M)(30.28 M)
Invested Capital17.14 M16.51 M8.13 M3.13 M3.6 M3.7 M
Invested Capital Average16.13 M17.68 M6.33 M4.03 M4.64 M7.17 M
Market Capitalization67.48 M21.63 M84.42 M115.05 M103.55 M115.07 M
Tangible Asset Value21.06 M26.29 M29.02 M46.75 M53.77 M47.76 M
Working Capital(5.18 M)289 K2.83 M35.31 M31.78 M34.28 M

About Novan Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Novan Inc's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Novan using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Novan Inc 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.
Novan, Inc., a pre-commercial nitric oxide-based pharmaceutical company, focuses on dermatology and anti-infective therapies. Novan, Inc. was incorporated in 2006 and is headquartered in Durham, North Carolina. Novan operates under Biotechnology classification in the United States and is traded on NASDAQ Exchange. It employs 29 people.

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Additionally, see Novan Altman Z Score, Novan Correlation, Novan Valuation, as well as analyze Novan Alpha and Beta and Novan Hype Analysis. Note that the Novan Inc information on this page should be used as a complementary analysis to other Novan'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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

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Is Novan'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 Novan. If investors know Novan 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 Novan 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
-0.61
Market Capitalization
50.2 M
Quarterly Revenue Growth YOY
1.35
Return On Assets
-0.24
Return On Equity
-10.14
The market value of Novan Inc is measured differently than its book value, which is the value of Novan that is recorded on the company's balance sheet. Investors also form their own opinion of Novan's value that differs from its market value or its book value, called intrinsic value, which is Novan'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 Novan's market value can be influenced by many factors that don't directly affect Novan'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 Novan's value and its price as these two are different measures arrived at by different means. Investors typically determine Novan value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novan'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.