Daniel Thwaites (AQSE:THW) Piotroski F-Score: 8 (As of Aug. 04, 2026) — 33% Above Median

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AQSE:THW Daniel Thwaites PLC AQSE:THW
56 GF Score
Price £1.08
GF Value £1.00
Valuation Fairly Valued
! 8 Warning Signs
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What is Daniel Thwaites Piotroski F-Score?

Daniel Thwaites AQSE:THW 56 Piotroski F-Score is 8 as of Aug. 04, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates AQSE:THW with a GF Score™ of 56/100 and a GF Value™ of £1.00 (Fairly Valued). The stock has 8 warning signs investors should review. Among 357 Restaurants companies, Daniel Thwaites ranks better than 96.36% on this metric.

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

Daniel Thwaites has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

AQSE:THW' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Daniel Thwaites was 8. The lowest was 1. And the median was 6.

Daniel Thwaites  (AQSE:THW) 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.


Daniel Thwaites Piotroski F-Score Related Terms


Daniel Thwaites Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Daniel Thwaites'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.

Daniel Thwaites Piotroski F-Score Chart

Daniel Thwaites Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 7.00 7.00 6.00 8.00

Daniel Thwaites Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 7.00 0.00 6.00 0.00 8.00

AQSE:THW vs MCD, SBUX, YUM: Piotroski F-Score Comparison

For the Restaurants subindustry, Daniel Thwaites'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.


Daniel Thwaites Piotroski F-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Daniel Thwaites's Piotroski F-Score distribution charts can be found below:

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


AQSE:THW
56GF Score
Daniel Thwaites PLC AQSE:THW
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was £7.8 Mil.
Cash Flow from Operations was £22.5 Mil.
Revenue was £127.0 Mil.
Gross Profit was £28.5 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (361.2 + 365.9) / 2 = £363.55 Mil.
Total Assets at the begining of this year (Mar25) was £361.2 Mil.
Long-Term Debt & Capital Lease Obligation was £67.0 Mil.
Total Current Assets was £11.0 Mil.
Total Current Liabilities was £28.0 Mil.
Net Income was £7.6 Mil.

Revenue was £120.6 Mil.
Gross Profit was £26.7 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (358.7 + 361.2) / 2 = £359.95 Mil.
Total Assets at the begining of last year (Mar24) was £358.7 Mil.
Long-Term Debt & Capital Lease Obligation was £40.5 Mil.
Total Current Assets was £10.8 Mil.
Total Current Liabilities was £54.3 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.

Daniel Thwaites's current Net Income (TTM) was 7.8. ==> Positive ==> Score 1.

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.

Daniel Thwaites's current Cash Flow from Operations (TTM) was 22.5. ==> 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 (Mar25)
=7.8/361.2
=0.02159468

ROA (Last Year)=Net Income/Total Assets (Mar24)
=7.6/358.7
=0.02118762

Daniel Thwaites's return on assets of this year was 0.02159468. Daniel Thwaites's return on assets of last year was 0.02118762. ==> 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.

Daniel Thwaites's current Net Income (TTM) was 7.8. Daniel Thwaites's current Cash Flow from Operations (TTM) was 22.5. ==> 22.5 > 7.8 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=67/363.55
=0.18429377

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=40.5/359.95
=0.11251563

Daniel Thwaites's gearing of this year was 0.18429377. Daniel Thwaites's gearing of last year was 0.11251563. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=11/28
=0.39285714

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=10.8/54.3
=0.19889503

Daniel Thwaites's current ratio of this year was 0.39285714. Daniel Thwaites's current ratio of last year was 0.19889503. ==> 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.

Daniel Thwaites's number of shares in issue this year was 57.548. Daniel Thwaites's number of shares in issue last year was 58.828. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=28.5/127
=0.22440945

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=26.7/120.6
=0.22139303

Daniel Thwaites's gross margin of this year was 0.22440945. Daniel Thwaites's gross margin of last year was 0.22139303. ==> 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 (Mar25)
=127/361.2
=0.35160576

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=120.6/358.7
=0.33621411

Daniel Thwaites's asset turnover of this year was 0.35160576. Daniel Thwaites's asset turnover of last year was 0.33621411. ==> 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
=1+1+1+1+0+1+1+1+1
=8

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

Daniel Thwaites has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
Daniel Thwaites (AQSE:THW) has a Piotroski F-Score of 8 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Daniel Thwaites and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Daniel Thwaites' Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Daniel Thwaites ranks #13 out of 357 companies in the Restaurants industry, placing it in the top 3.6%.
Is Daniel Thwaites' Piotroski F-Score too high?
Daniel Thwaites' current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Restaurants industry median Piotroski F-Score is 5.00. Daniel Thwaites' value of 8 is 60% above this industry median. Based on the distribution chart, Daniel Thwaites ranks #13 out of 357 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers. Overall, Daniel Thwaites has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Daniel Thwaites' Piotroski F-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Daniel Thwaites ranks #13 out of 357 companies for Piotroski F-Score. This places Daniel Thwaites in the top 4% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Daniel Thwaites' value of 8 is 60% above this benchmark. Historically, Daniel Thwaites' own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Daniel Thwaites has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Restaurants company?
The median Piotroski F-Score among Restaurants companies is 5.00, based on 357 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Daniel Thwaites's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Daniel Thwaites and its competitors. For the Restaurants industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Daniel Thwaites's current Piotroski F-Score is 8, which is 33% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daniel Thwaites stock overvalued right now?
Based on GuruFocus' analysis, Daniel Thwaites (AQSE:THW) is currently considered Fairly Valued. The stock's GF Value™ is £1.00, compared to a current price of £1.08 — trading 7.5% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Restaurants industry median of 5.00. Daniel Thwaites' overall GF Score™ is 56/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Daniel Thwaites (AQSE:THW), the current Piotroski F-Score is 8 as of Aug. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Daniel Thwaites (AQSE:THW) Overvalued in 2026?

Based on GuruFocus' analysis, Daniel Thwaites stock appears to be overvalued. The current stock price of £1.08 is trading 7.5% above its estimated GF Value™ of £1.00. GuruFocus considers Daniel Thwaites to be Fairly Valued.

Key valuation signals for AQSE:THW:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: £1.00 vs. price of £1.08 (7.5% above fair value)
  • GF Score™: 56/100 with 8 warning signs
  • Industry Position: 60% above the Restaurants median (#13 of 357)

No single metric tells the full story. See the AQSE:THW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Daniel Thwaites Business Description

Other Exchanges 7KW:Germany
Address Myerscough Road, Mellor Brook, Blackburn, Lancashire, GBR, BB2 7LB
Daniel Thwaites PLC operates pubs, inns and hotels. The company's operations include hotels, conference venues, inns, spas, lodges and pubs. It has two operating segments: Pubs and Inns, which comprise both tenanted and managed pubs, and Hotels, which are all operated on a managed basis. Its pub estate encompasses community locals to destination food-led pubs in both rural and town centre locations, ranging geographically from Cumbria to the Midlands and from North Wales to Yorkshire.
56GF Score

Get the complete analysis for AQSE:THW

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

£1.08
Price
£1.00
GF Value