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HCP (HashiCorp) Piotroski F-Score : 6 (As of Oct. 31, 2024)


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What is HashiCorp 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

HashiCorp has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

HCP' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 6
Current: 6

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


HashiCorp Piotroski F-Score Historical Data

The historical data trend for HashiCorp'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.

HashiCorp Piotroski F-Score Chart

HashiCorp Annual Data
Trend Jan20 Jan21 Jan22 Jan23 Jan24
Piotroski F-Score
N/A N/A 3.00 4.00 4.00

HashiCorp Quarterly Data
Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24
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 4.00 4.00 4.00 5.00 6.00

Competitive Comparison of HashiCorp's Piotroski F-Score

For the Software - Infrastructure subindustry, HashiCorp'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.


HashiCorp's Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where HashiCorp'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 (Jul24) TTM:Last Year (Jul23) TTM:
Net Income was -39.473 + -31.622 + -51.128 + -26.462 = $-148.7 Mil.
Cash Flow from Operations was 8.657 + 10.286 + 28.148 + -8.572 = $38.5 Mil.
Revenue was 146.125 + 155.783 + 160.579 + 165.138 = $627.6 Mil.
Gross Profit was 120.52 + 128.811 + 130.267 + 134.929 = $514.5 Mil.
Average Total Assets from the begining of this year (Jul23)
to the end of this year (Jul24) was
(1590.603 + 1586.269 + 1691.947 + 1648.573 + 1678.8) / 5 = $1639.2384 Mil.
Total Assets at the begining of this year (Jul23) was $1,590.6 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $1,535.7 Mil.
Total Current Liabilities was $414.1 Mil.
Net Income was -71.958 + -49.359 + -53.258 + -66.315 = $-240.9 Mil.

Revenue was 125.341 + 135.788 + 137.983 + 143.246 = $542.4 Mil.
Gross Profit was 102.793 + 112.296 + 111.195 + 113.912 = $440.2 Mil.
Average Total Assets from the begining of last year (Jul22)
to the end of last year (Jul23) was
(1567.351 + 1553.365 + 1628.34 + 1583.349 + 1590.603) / 5 = $1584.6016 Mil.
Total Assets at the begining of last year (Jul22) was $1,567.4 Mil.
Long-Term Debt & Capital Lease Obligation was $10.2 Mil.
Total Current Assets was $1,440.4 Mil.
Total Current Liabilities was $361.8 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.

HashiCorp's current Net Income (TTM) was -148.7. ==> 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.

HashiCorp's current Cash Flow from Operations (TTM) was 38.5. ==> Positive ==> Score 1.

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 (Jul23)
=-148.685/1590.603
=-0.09347713

ROA (Last Year)=Net Income/Total Assets (Jul22)
=-240.89/1567.351
=-0.15369244

HashiCorp's return on assets of this year was -0.09347713. HashiCorp's return on assets of last year was -0.15369244. ==> This year is higher. ==> Score 1.

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.

HashiCorp's current Net Income (TTM) was -148.7. HashiCorp's current Cash Flow from Operations (TTM) was 38.5. ==> 38.5 > -148.7 ==> 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: Jul24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul23 to Jul24
=0/1639.2384
=0

Gearing (Last Year: Jul23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul22 to Jul23
=10.245/1584.6016
=0.00646535

HashiCorp's gearing of this year was 0. HashiCorp's gearing of last year was 0.00646535. ==> 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: Jul24)=Total Current Assets/Total Current Liabilities
=1535.667/414.051
=3.70888369

Current Ratio (Last Year: Jul23)=Total Current Assets/Total Current Liabilities
=1440.352/361.777
=3.98132551

HashiCorp's current ratio of this year was 3.70888369. HashiCorp's current ratio of last year was 3.98132551. ==> 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.

HashiCorp's number of shares in issue this year was 201.872. HashiCorp's number of shares in issue last year was 192.61. ==> 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
=514.527/627.625
=0.81980004

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=440.196/542.358
=0.81163364

HashiCorp's gross margin of this year was 0.81980004. HashiCorp's gross margin of last year was 0.81163364. ==> 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 (Jul23)
=627.625/1590.603
=0.39458306

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul22)
=542.358/1567.351
=0.34603481

HashiCorp's asset turnover of this year was 0.39458306. HashiCorp's asset turnover of last year was 0.34603481. ==> 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+1+1+1+1+0+0+1+1
=6

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

HashiCorp has an F-score of 6 indicating the company's financial situation is typical for a stable company.

HashiCorp  (NAS:HCP) 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.


HashiCorp Piotroski F-Score Related Terms

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HashiCorp Business Description

Traded in Other Exchanges
Address
101 Second Street, Suite 700, San Francisco, CA, USA, 94105
HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds. Its cloud operating model provides consistent workflows and a standardized approach to automate the processes involved in delivering applications in the cloud: infrastructure provisioning, security, networking, and application deployment. Its main commercial products are Terraform, Vault, Consul, and Nomad.
Executives
Armon Dadgar director, 10 percent owner, officer: Chief Technology Officer C/O HASHICORP INC., 101 SECOND STREET, SUITE 700, SAN FRANCISCO CA 94105
Marc Holmes officer: Chief Marketing Officer C/O HASHICORP, INC., 101 SECOND STREET, SUITE 700, SAN FRANCISCO CA 94105
Ledger Susan St. director C/O OKTA, INC., 100 FIRST STREET, SUITE 600, SAN FRANCISCO CA 94105
David Mcjannet director, officer: CEO & Chairman C/O HASHICORP, INC., 101 SECOND STREET, SUITE 700, SAN FRANCISCO CA 94105
Navam Welihinda officer: Chief Financial Officer C/O HASHICORP INC., 101 SECOND STREET, SUITE 700, SAN FRANCISCO CA 94105
Sigal Zarmi director 1501 YAMATO ROAD, BOCA RATON FL 33431
Brandon Sweeney officer: Chief Revenue Officer C/O HASHICORP, INC., 101 SECOND STREET, SUITE 700, SAN FRANCISCO CA 94105
David J Henshall director 18880 HOMESTEAD ROAD, CUPERTINO CA 95014
Mayfield Xiv, A Cayman Islands Exempted Limited Partnership 10 percent owner 2484 SAND HILL ROAD, MENLO PARK CA 94025
Glenn Solomon director, 10 percent owner C/O GGV CAPITAL, 3000 SAND HILL ROAD, SUITE 4-230, MENLO PARK CA 94025
Ggv Capital Select L.l.c. 10 percent owner 3000 SAND HILL ROAD, SUITE 4-230, MENLO PARK CA 94025
Ggv Capital V L.l.c. 10 percent owner 3000 SAND HILL ROAD, BUILDING 4, SUITE 230, MENLO PARK CA 94025
Mayfield Select Management (egp), L.p. 10 percent owner 2484 SAND HILL ROAD, MENLO PARK CA 94025
Mf Leaders H-e, L.p. 10 percent owner 2484 SAND HILL ROAD, MENLO PARK CA 94025
Mf Leaders Management, L.l.c. 10 percent owner C/O MAYFIELD, 2484 SAND HILL ROAD, MENLO PARK CA 94025

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