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DSS (DSS) Piotroski F-Score : 4 (As of Jul. 09, 2025)


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What is DSS 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

DSS has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

DSS' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of DSS was 7. The lowest was 1. And the median was 3.


DSS Piotroski F-Score Historical Data

The historical data trend for DSS'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.

DSS Piotroski F-Score Chart

DSS Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 2.00 3.00 4.00 4.00

DSS Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 3.00 4.00 5.00 4.00 4.00

Competitive Comparison of DSS's Piotroski F-Score

For the Packaging & Containers subindustry, DSS'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.


DSS's Piotroski F-Score Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, DSS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where DSS's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was -4.683 + -5.283 + -32.862 + -4.777 = $-47.61 Mil.
Cash Flow from Operations was -3.424 + -3.607 + 0.099 + -1.638 = $-8.57 Mil.
Revenue was 4.211 + 5.599 + 5.416 + 4.954 = $20.18 Mil.
Gross Profit was -1.462 + -1.004 + -0.857 + -0.233 = $-3.56 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(148.5 + 144.448 + 142.657 + 106.453 + 92.435) / 5 = $126.8986 Mil.
Total Assets at the begining of this year (Mar24) was $148.50 Mil.
Long-Term Debt & Capital Lease Obligation was $8.57 Mil.
Total Current Assets was $52.82 Mil.
Total Current Liabilities was $54.05 Mil.
Net Income was -37.923 + -4.342 + -30.302 + -4.072 = $-76.64 Mil.

Revenue was 7.233 + 4.182 + 7.013 + 3.871 = $22.30 Mil.
Gross Profit was 2.401 + -1.89 + -0.198 + -1.119 = $-0.81 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(226.75 + 204.861 + 196.551 + 153.192 + 148.5) / 5 = $185.9708 Mil.
Total Assets at the begining of last year (Mar23) was $226.75 Mil.
Long-Term Debt & Capital Lease Obligation was $14.18 Mil.
Total Current Assets was $72.16 Mil.
Total Current Liabilities was $56.21 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.

DSS's current Net Income (TTM) was -47.61. ==> 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.

DSS's current Cash Flow from Operations (TTM) was -8.57. ==> 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 (Mar24)
=-47.605/148.5
=-0.32057239

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-76.639/226.75
=-0.33798897

DSS's return on assets of this year was -0.32057239. DSS's return on assets of last year was -0.33798897. ==> 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.

DSS's current Net Income (TTM) was -47.61. DSS's current Cash Flow from Operations (TTM) was -8.57. ==> -8.57 > -47.61 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=8.566/126.8986
=0.06750271

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=14.183/185.9708
=0.07626466

DSS's gearing of this year was 0.06750271. DSS's gearing of last year was 0.07626466. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=52.822/54.048
=0.97731646

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=72.164/56.213
=1.28375998

DSS's current ratio of this year was 0.97731646. DSS's current ratio of last year was 1.28375998. ==> 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.

DSS's number of shares in issue this year was 8.686. DSS's number of shares in issue last year was 7.067. ==> 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
=-3.556/20.18
=-0.17621407

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.806/22.299
=-0.03614512

DSS's gross margin of this year was -0.17621407. DSS's gross margin of last year was -0.03614512. ==> 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 (Mar24)
=20.18/148.5
=0.13589226

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=22.299/226.75
=0.09834179

DSS's asset turnover of this year was 0.13589226. DSS's asset turnover of last year was 0.09834179. ==> 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+1+1+1+0+0+0+1
=4

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

DSS has an F-score of 4 indicating the company's financial situation is typical for a stable company.

DSS  (AMEX:DSS) 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.


DSS Piotroski F-Score Related Terms

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DSS Business Description

Traded in Other Exchanges
N/A
Address
275 Wiregrass Parkway, Henrietta, NY, USA, 14586
DSS Inc is operating a business focused on Five operating segments Product Packaging, Biotechnology, Commercial Lending, Securities and Investment Management, and Direct Marketing. Currently operates five distinct business lines operate around the globe with primary operations in North America and Asia. Product packaging manufactures, and sells sophisticated custom folding cartons, mailers, photo sleeves and complex three-dimensional direct mail solutions. Biotechnology division targets unmet, urgent medical needs and expands the borders of medical and pharmaceutical science. Commercial Lending through represents its banking and financing business line. Alternative Trading develops and/or acquires assets and investments in the securities trading and/or fund management arena.
Executives
Chan Heng Fai Ambrose director 2601 INSLAND PLACE TOWER, 510 KINGS RD N POINT, HONG KONG K3 999999999
Wu William Wai Leung director C/O DOCUMENT SECURITY SYSTEMS, INC., 200 CANAL VIEW BLVD., SUITE 300, ROCHESTER NY 14624
Lim Sheng Hon Danny director 4800 MONTGOMERY LANE, SUITE 210, BETHESDA MD 20814
Alset International Ltd 10 percent owner 10 WINSTEDT ROAD #02-02, SINGAPORE U0 227977
Hiu Pan Wong director RM F, 47/F, TOWER 6, PARK AVENUE,, 18 HOI TING ROAD, TAI KOK TUSI, KOWLOON, HONG KONG F4 999077
Shui Yeung Wong director 4800 MONTGOMERY LANE, SUITE 210, BETHESDA MD 20814
Todd D Macko officer: Interim CFO C/O 200 CANAL VIEW BLVD., SUITE 104, ROCHESTER NY 14623
Tung Moe Chan director 1601 BLAKE ST, SUITE 310, DENVER CO 80202
Global Biomedical Pte. Ltd. 10 percent owner 7 TEMASEK BOULEVARD #29-01B, SUNTEC TOWER ONE, SINGAPORE U0 038987
Sassuan (samson) Lee director 200 CANAL VIEW BLVD., SUITE 300, ROCHESTER NY 14623
Jose Escudero director 200 CANAL VIEW BOULEVARD, SUITE 300, ROCHESTER NY 14623
Jason Grady officer: Chief Operating Officer 1093 CARRINGTON WAY, VICTOR NY 14564
Joseph L. Sanders director C/O DOCUMENT SECURITY SYSTEMS, INC., 28 EAST MAIN STREET, SUITE 1525, ROCHESTER NY 14614
John Thatch director C/O SHARING SERVICES, INC., 1701 COIT ROAD, SUITE 100, PLANO TX 75075
Stanley V. Grisham director 2 CRESTED CLOUD CT., THE WOODLANDS TX 77380