Evolution MiningASX:EVN -3.81%92 Piotroski F-Score is 8 as of Jun. 25, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates ASX:EVN with a GF Score™ of 92/100 and a GF Value™ of A$8.32 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,511 Metals & Mining companies, Evolution Mining ranks better than 99% 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
Evolution Mining 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 Evolution Mining's Piotroski F-Score or its related term are showing as below:
ASX:EVN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Evolution Mining was 8. The lowest was 3. And the median was 6.
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.
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.
Evolution Mining Piotroski F-Score Related Terms
Evolution Mining Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Evolution Mining'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.
For the Gold subindustry, Evolution Mining'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.
Evolution Mining Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Evolution Mining's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Evolution Mining's Piotroski F-Score falls into.
* 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.
*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.
Evolution Mining's current Net Income (TTM) was 926.
==> 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.
Evolution Mining's return on assets of this year was 0.10502162. Evolution Mining's return on assets of last year was 0.06253627.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Evolution Mining's gearing of this year was 0.18844002. Evolution Mining's gearing of last year was 0.24308259.
==> 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
Evolution Mining's current ratio of this year was 1.52764595. Evolution Mining's current ratio of last year was 1.09287265.
==> 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.
Evolution Mining's number of shares in issue this year was 1995.624. Evolution Mining's number of shares in issue last year was 1923.777.
==> 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.
Evolution Mining's gross margin of this year was 0.53654126. Evolution Mining's gross margin of last year was 0.50692454.
==> 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
Evolution Mining's asset turnover of this year was 0.50187184. Evolution Mining's asset turnover of last year was 0.48930489.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Evolution Mining has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Evolution Mining (ASX:EVN) has a Piotroski F-Score of 8 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Evolution Mining and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Evolution Mining's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Evolution Mining ranks #25 out of 2511 companies in the Metals & Mining industry, placing it in the top 1%.
Is Evolution Mining's Piotroski F-Score too high?
Evolution Mining's 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 3.00 to a high of 8.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Evolution Mining's value of 8 is 166.7% above this industry median. Based on the distribution chart, Evolution Mining ranks #25 out of 2511 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Evolution Mining has a GF Score™ of 92/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Evolution Mining's Piotroski F-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Evolution Mining ranks #25 out of 2511 companies for Piotroski F-Score. This places Evolution Mining in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Evolution Mining's value of 8 is 166.7% above this benchmark. Historically, Evolution Mining's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 3.00, Evolution Mining 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,511 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. Evolution Mining's current Piotroski F-Score of 8 is 166.7% 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 Evolution Mining and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Evolution Mining'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 Evolution Mining stock overvalued right now?
Based on GuruFocus' analysis, Evolution Mining (ASX:EVN) is currently considered Significantly Overvalued. The stock's GF Value™ is A$8.32, compared to a current price of A$11.88 — trading 42.8% 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 166.7% above the Metals & Mining industry median of 3.00. Evolution Mining's overall GF Score™ is 92/100 with 1 warning sign 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 Evolution Mining (ASX:EVN), the current Piotroski F-Score is 8 as of Jun. 25, 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 Evolution Mining (ASX:EVN) Overvalued in 2026?
Based on GuruFocus' analysis, Evolution Mining stock appears to be overvalued.
The current stock price of A$11.88 is trading 42.8% above its estimated GF Value™ of A$8.32.
GuruFocus considers Evolution Mining to be Significantly Overvalued.
Key valuation signals for ASX:EVN:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: A$8.32 vs. price of A$11.88 (42.8% above fair value)
Industry Position: 166.7% above the Metals & Mining median (#25 of 2511)
No single metric tells the full story. See the ASX:EVN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Evolution Mining is an Australia-based gold miner. It sold around 750,000 ounces of gold in fiscal 2025 from six wholly or majority owned mines in Australia and Canada. Formed in 2011 via the merger of Conquest Mining and Catalpa Resources and the purchase of Newcrest Mining's Mt Rawdon and Cracow mines, Evolution has acquired more mines and sold the generally less attractive, higher-cost mines. Cowal and Mungari were purchased in 2015, with an initial interest in Glencore's Ernest Henry mine following in 2016, Red Lake in Canada in 2020, the rest of Ernest Henry in 2022 and an 80% stake in the Northparkes copper and gold mine in December 2023. It had roughly 15 years of gold reserves and two decades of copper reserves at the end of December 2024.
92GF Score
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