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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:
During the past 5 years, the highest Piotroski F-Score of HashiCorp was 6. The lowest was 3. And the median was 4.
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.
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 | 4.00 | 4.00 | 4.00 | 5.00 | 6.00 |
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.
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.
Thank you for viewing the detailed overview of HashiCorp's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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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