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Tigo Energy (Tigo Energy) Piotroski F-Score : 3 (As of May. 26, 2024)


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What is Tigo Energy Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 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

Tigo Energy has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

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

During the past 3 years, the highest Piotroski F-Score of Tigo Energy was 3. The lowest was 3. And the median was 3.


Tigo Energy Piotroski F-Score Historical Data

The historical data trend for Tigo Energy'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.

Tigo Energy Piotroski F-Score Chart

Tigo Energy Annual Data
Trend Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A

Tigo Energy Quarterly Data
Dec21 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only N/A N/A N/A N/A 3.00

Competitive Comparison of Tigo Energy's Piotroski F-Score

For the Solar subindustry, Tigo Energy'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.


Tigo Energy's Piotroski F-Score Distribution in the Semiconductors Industry

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

* The bar in red indicates where Tigo Energy'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was -22.176 + 29.056 + -14.774 + -11.506 = $-19.4 Mil.
Cash Flow from Operations was 0.153 + -24.445 + -7.843 + -11.266 = $-43.4 Mil.
Revenue was 68.826 + 17.104 + 9.245 + 9.802 = $105.0 Mil.
Gross Profit was 25.906 + 4.158 + 2.876 + 2.766 = $35.7 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(156.91 + 195.132 + 143.141 + 127.777 + 109.121) / 5 = $146.4162 Mil.
Total Assets at the begining of this year (Mar23) was $156.9 Mil.
Long-Term Debt & Capital Lease Obligation was $35.1 Mil.
Total Current Assets was $88.4 Mil.
Total Current Liabilities was $14.2 Mil.
Net Income was 0.178 + -2.421 + 0.903 + 6.91 = $5.6 Mil.

Revenue was 17.639 + 22.824 + 30.941 + 50.058 = $121.5 Mil.
Gross Profit was 5.532 + 6.588 + 9.968 + 18.369 = $40.5 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Mar23) was
(23.958 + 0 + 0 + 88.078 + 156.91) / 5 = $89.64866667 Mil.
Total Assets at the begining of last year (Dec21) was $24.0 Mil.
Long-Term Debt & Capital Lease Obligation was $51.4 Mil.
Total Current Assets was $132.7 Mil.
Total Current Liabilities was $49.0 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.

Tigo Energy's current Net Income (TTM) was -19.4. ==> 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.

Tigo Energy's current Cash Flow from Operations (TTM) was -43.4. ==> 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 (Mar23)
=-19.4/156.91
=-0.12363775

ROA (Last Year)=Net Income/Total Assets (Dec21)
=5.57/23.958
=0.23249019

Tigo Energy's return on assets of this year was -0.12363775. Tigo Energy's return on assets of last year was 0.23249019. ==> 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.

Tigo Energy's current Net Income (TTM) was -19.4. Tigo Energy's current Cash Flow from Operations (TTM) was -43.4. ==> -43.4 <= -19.4 ==> CFROA <= ROA ==> Score 0.

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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=35.074/146.4162
=0.23955

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Mar23
=51.359/89.64866667
=0.57289196

Tigo Energy's gearing of this year was 0.23955. Tigo Energy's gearing of last year was 0.57289196. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=88.396/14.159
=6.24309626

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=132.743/49.025
=2.70765936

Tigo Energy's current ratio of this year was 6.24309626. Tigo Energy's current ratio of last year was 2.70765936. ==> This year's current ratio is higher. ==> Score 1.

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.

Tigo Energy's number of shares in issue this year was 59.374. Tigo Energy's number of shares in issue last year was 58.145. ==> 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
=35.706/104.977
=0.34013165

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=40.457/121.462
=0.3330836

Tigo Energy's gross margin of this year was 0.34013165. Tigo Energy's gross margin of last year was 0.3330836. ==> 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 (Mar23)
=104.977/156.91
=0.66902683

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=121.462/23.958
=5.0697888

Tigo Energy's asset turnover of this year was 0.66902683. Tigo Energy's asset turnover of last year was 5.0697888. ==> Last year's asset turnover is higher ==> Score 0.

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+0+1+1+0+1+0
=3

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

Tigo Energy has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Tigo Energy  (NAS:TYGO) 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.


Tigo Energy Piotroski F-Score Related Terms

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Tigo Energy (Tigo Energy) Business Description

Traded in Other Exchanges
N/A
Address
655 Campbell Technology Parkway, Suite 150, Campbell, CA, USA, 95008
Tigo Energy Inc designs innovative solar power conversion and storage products that provide customers more choice and flexibility. Its mission is to deliver smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems.
Executives
Zvi Alon director, officer: Chief Executive Officer 10725 NORTH DE ANZA BLVD, CUPERTINO CA 95014
Joan C Conley director 3691 CHEVY CHASE LAKE DRIVE, CHEVY CHASE MD 20815
Energy Growth Momentum Gp Ii Ltd. 10 percent owner, other: See Remarks 1ST & 2ND FLOORS, ELIZABETH HOUSE, LES RUETTES BRAYES, ST PETER PORT Y7 GY1 1EW
Generation Im Climate Solutions Gp, Ltd. 10 percent owner BOX 309, UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104
Generation Im Climate Solutions Fund, L.p. 10 percent owner BOX 309, UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104
Jeffrey Stuart Sullivan officer: Chief Operating Officer 655 CAMPBELL TECHNOLOGY PARKWAY, CAMPBELL CA 95008
John Andrew Wilson director 655 CAMPBELL TECHNOLOGY PARKWAY, CAMPBELL CA 95008
Alon Ventures, Llc 10 percent owner 27673 LUPINE RD, LOS ALTOS HILLS CA 94022
Energy Growth Momentum Ii Lp 10 percent owner, other: See Remarks 1ST AND 2ND FLOORS, ELIZABETH HOUSE, LES RUETTES BRAYES, ST PETER PORT Y7 GY11EW
James Jd Dillon officer: Chief Marketing Officer 655 CAMPBELL TECHNOLOGY PARKWAY, CAMPBELL CA 95008
Jing Tian officer: Chief Growth Officer 655 CAMPBELL TECHNOLOGY PARKWAY, CAMPBELL CA 95008
Tomer Babai director 655 CAMPBELL TECHNOLOGY PARKWAY, SUITE 150, CAMPBELL CA 95008
Matthew Day officer: Co-Chief Operating Officer 888 SAN CLEMENTE DRIVE SUITE 400, NEWPORT BEACH CA 92660
Andrew Costa officer: Co-Chief Operating Officer 888 SAN CLEMENTE DRIVE SUITE 400, NEWPORT BEACH CA 92660
Chlm Sponsor Llc 10 percent owner 222 SOUTH 9TH STREET SUITE 350, MINNEAPOLIS MN 55402