GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Nektar Therapeutics (NAS:NKTR) » Definitions » Piotroski F-Score

NKTR (Nektar Therapeutics) Piotroski F-Score : 2 (As of Oct. 31, 2024)


View and export this data going back to 1994. Start your Free Trial

What is Nektar Therapeutics Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Nektar Therapeutics has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

NKTR' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 8
Current: 2

During the past 13 years, the highest Piotroski F-Score of Nektar Therapeutics was 8. The lowest was 1. And the median was 3.


Nektar Therapeutics Piotroski F-Score Historical Data

The historical data trend for Nektar Therapeutics'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.

Nektar Therapeutics Piotroski F-Score Chart

Nektar Therapeutics Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 4.00 1.00 4.00 2.00

Nektar Therapeutics Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 3.00 2.00 2.00 2.00

Competitive Comparison of Nektar Therapeutics's Piotroski F-Score

For the Biotechnology subindustry, Nektar Therapeutics'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.


Nektar Therapeutics's Piotroski F-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Nektar Therapeutics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Nektar Therapeutics'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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was -45.837 + -42.079 + -36.802 + -52.363 = $-177.08 Mil.
Cash Flow from Operations was -42.121 + -47.047 + -47.888 + -37.702 = $-174.76 Mil.
Revenue was 24.144 + 23.885 + 21.639 + 23.489 = $93.16 Mil.
Gross Profit was 11.713 + 16.602 + 13.105 + 13.749 = $55.17 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(494.279 + 442.244 + 398.033 + 396.012 + 343.334) / 5 = $414.7804 Mil.
Total Assets at the begining of this year (Jun23) was $494.28 Mil.
Long-Term Debt & Capital Lease Obligation was $90.76 Mil.
Total Current Assets was $295.19 Mil.
Total Current Liabilities was $57.33 Mil.
Net Income was -59.049 + -59.688 + -137.018 + -51.122 = $-306.88 Mil.

Revenue was 23.625 + 22.023 + 21.594 + 20.499 = $87.74 Mil.
Gross Profit was 18.653 + 15.79 + 14.534 + 13.505 = $62.48 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(861.987 + 781.006 + 710.6 + 561.743 + 494.279) / 5 = $681.923 Mil.
Total Assets at the begining of last year (Jun22) was $861.99 Mil.
Long-Term Debt & Capital Lease Obligation was $105.82 Mil.
Total Current Assets was $441.06 Mil.
Total Current Liabilities was $50.69 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.

Nektar Therapeutics's current Net Income (TTM) was -177.08. ==> 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.

Nektar Therapeutics's current Cash Flow from Operations (TTM) was -174.76. ==> Negative ==> Score 0.

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 (Jun23)
=-177.081/494.279
=-0.35826122

ROA (Last Year)=Net Income/Total Assets (Jun22)
=-306.877/861.987
=-0.35601117

Nektar Therapeutics's return on assets of this year was -0.35826122. Nektar Therapeutics's return on assets of last year was -0.35601117. ==> Last year is higher ==> Score 0.

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.

Nektar Therapeutics's current Net Income (TTM) was -177.08. Nektar Therapeutics's current Cash Flow from Operations (TTM) was -174.76. ==> -174.76 > -177.08 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=90.763/414.7804
=0.21882182

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=105.817/681.923
=0.15517441

Nektar Therapeutics's gearing of this year was 0.21882182. Nektar Therapeutics's gearing of last year was 0.15517441. ==> Last year is lower than this year ==> Score 0.

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: Jun24)=Total Current Assets/Total Current Liabilities
=295.188/57.326
=5.14928654

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=441.058/50.694
=8.70039847

Nektar Therapeutics's current ratio of this year was 5.14928654. Nektar Therapeutics's current ratio of last year was 8.70039847. ==> 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.

Nektar Therapeutics's number of shares in issue this year was 208.828. Nektar Therapeutics's number of shares in issue last year was 189.656. ==> 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
=55.169/93.157
=0.59221529

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=62.482/87.741
=0.71211862

Nektar Therapeutics's gross margin of this year was 0.59221529. Nektar Therapeutics's gross margin of last year was 0.71211862. ==> Last year's gross margin is higher ==> Score 0.

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 (Jun23)
=93.157/494.279
=0.18847048

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=87.741/861.987
=0.10178924

Nektar Therapeutics's asset turnover of this year was 0.18847048. Nektar Therapeutics's asset turnover of last year was 0.10178924. ==> 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+0+0+1+0+0+0+0+1
=2

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

Nektar Therapeutics has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Nektar Therapeutics  (NAS:NKTR) 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.


Nektar Therapeutics Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Nektar Therapeutics's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Nektar Therapeutics Business Description

Traded in Other Exchanges
Address
455 Mission Bay Boulevard South, San Francisco, CA, USA, 94158
Nektar Therapeutics is a biopharmaceutical company. It has wholly-owned research and development pipeline of investigational medicines in oncology, immunology, and virology as well as a portfolio of approved partnered medicines. In oncology, The company is focused on activating the immune system natural tumor-fighting mechanisms, and it will be studying several immuno-oncology drug candidates in the clinic for a variety of cancer indications. In immunology, it is focused on addressing imbalances in the immune system to restore the body's self-tolerance mechanisms and achieve immune homeostasis. In virology, the company believes selective immuno-modulators can be useful in addressing viral infections in people. The group derives revenue from the United States and the Rest of the World.
Executives
Howard W Robin director, officer: President & CEO
Jonathan Zalevsky officer: Chief R&D Officer 455 MISSION BAY BOULEVARD SOUTH, C/O NEKTAR THERAPEUTICS, SAN FRANCISCO CA 94158
Mark Andrew Wilson officer: SVP & General Counsel 1613 RAY DRIVE, BURLINGAME CA 94010
Robert Chess director, officer: Executive Chairman
Myriam Curet director 1020 KIFER ROAD, SUNNYVALE CA 94086
Jeffrey Robert Ajer director C/O BIOMARIN PHARMACEUTICAL INC., 105 DIGITAL DRIVE, NOVATO CA 94949
Sandra A. Gardiner officer: Chief Financial Officer CUTERA, INC., 3240 BAYSHORE BOULEVARD, BRISBANE CA 94005
Jillian B. Thomsen officer: VP & Chief Accounting Officer C/O NEKTAR THERAPEUTICS, 201 INDUSTRIAL ROAD, SAN CARLOS CA 94070
Karin Eastham director C/O BURNHAM INSTITUTE FOR MEDICAL RESEAR, 10901 N. TORREY PINES ROAD, LA JOLLA CA 92037
Gil M Labrucherie officer: SVP, COO & CFO 150 INDUSTRIAL ROAD, SAN CARLOS CA 94070
John Northcott officer: SVP & Chief Commercial Officer 455 MISSION BAY BOULEVARD SOUTH, C/O NEKTAR THERAPEUTICS, SAN FRANCISCO CA 94158
Diana Brainard director C/O ALLOVIR, INC., 139 MAIN STREET, SUITE 500, CAMBRIDGE MA 02142
R Scott Greer director 6207 E. INDIAN BEND RD, PARADISE VALLEY AZ 85253
Lutz Lingnau director 15 INDIAN HOLLOW ROAD, MENDHAM NJ 07945
Stephen K Doberstein officer: Chief Scientific Officer 129 ELSIE STREET, SAN FRANCISCO CA 94110