Integrated ResearchASX:IRI 53 Piotroski F-Score is 3 as of Jun. 27, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates ASX:IRI with a GF Score™ of 53/100 and a GF Value™ of A$0.33 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 2,743 Software companies, Integrated Research ranks worse than 78.89% on this metric.
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
Integrated Research 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 Integrated Research's Piotroski F-Score or its related term are showing as below:
ASX:IRI'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 6
Current: 3
During the past 13 years, the highest Piotroski F-Score of Integrated Research was 6. The lowest was 3. And the median was 5.
Integrated Research (ASX:IRI) 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.
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.
Integrated Research Piotroski F-Score Related Terms
Integrated Research Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Integrated Research'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.
ASX:IRI vs CRM, SHOP, UBER: Piotroski F-Score Comparison
For the Software - Application subindustry, Integrated Research'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.
Integrated Research Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Integrated Research's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Integrated Research'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.
Integrated Research's current Net Income (TTM) was 13.36.
==> 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.
Integrated Research's return on assets of this year was 0.11698559. Integrated Research's return on assets of last year was 0.30241216.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Integrated Research's gearing of this year was 0.00952116. Integrated Research's gearing of last year was 0.00366852.
==> 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
Integrated Research's current ratio of this year was 4.07411319. Integrated Research's current ratio of last year was 3.12395236.
==> 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.
Integrated Research's number of shares in issue this year was 179.785. Integrated Research's number of shares in issue last year was 178.722.
==> 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.
Integrated Research's gross margin of this year was 1. Integrated Research's gross margin of last year was 1.
==> 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
Integrated Research's asset turnover of this year was 0.59776678. Integrated Research's asset turnover of last year was 0.92843767.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Integrated Research has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Integrated Research (ASX:IRI) has a Piotroski F-Score of 3 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Integrated Research and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Integrated Research's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, Integrated Research ranks #2164 out of 2743 companies in the Software industry, placing it in the top 78.9%.
Is Integrated Research's Piotroski F-Score too high?
Integrated Research's current Piotroski F-Score of 3 is 40% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 6.00. The Software industry median Piotroski F-Score is 5.00. Integrated Research's value of 3 is 40% below this industry median. Based on the distribution chart, Integrated Research ranks #2164 out of 2743 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Integrated Research has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Integrated Research's Piotroski F-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Integrated Research ranks #2164 out of 2743 companies for Piotroski F-Score. This places Integrated Research in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Integrated Research's value of 3 is 40% below this benchmark. Historically, Integrated Research's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Integrated Research has consistently been below 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,743 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. Integrated Research's current Piotroski F-Score of 3 is 40% below 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 Integrated Research and its competitors. For the Software 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. Integrated Research's current Piotroski F-Score is 3, which is 40% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Integrated Research stock overvalued right now?
Based on GuruFocus' analysis, Integrated Research (ASX:IRI) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.33, compared to a current price of A$0.28 — trading 15.2% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Software industry median of 5.00. Integrated Research's overall GF Score™ is 53/100 with 4 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 Integrated Research (ASX:IRI), the current Piotroski F-Score is 3 as of Jun. 27, 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 Integrated Research (ASX:IRI) Overvalued in 2026?
Based on GuruFocus' analysis, Integrated Research stock appears to be undervalued.
The current stock price of A$0.28 is trading 15.2% below its estimated GF Value™ of A$0.33.
GuruFocus considers Integrated Research to be Modestly Undervalued.
Key valuation signals for ASX:IRI:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: A$0.33 vs. price of A$0.28 (15.2% below fair value)
Industry Position: 40% below the Software median (#2164 of 2743)
No single metric tells the full story. See the ASX:IRI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Integrated Research Ltd is engaged in the design, development, implementation, and sale of systems and applications management computer software for business-critical computing, Unified Communication networks, and Payment networks. Its Prognosis platform is an integrated suite of monitoring and management software, designed to give its clients, an operational insight into and optimize the operation of their HP NonStop, distributed system servers, Unified Communications (UC), Payment environments, and the business applications that run on these platforms. The company's geographic segments include Asia Pacific, Americas, and Europe. It generates revenue from licence fees, maintenance fees, subscription fees, testing solution services, and professional services.
53GF Score
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