NAOS Small Cap Opportunities CoASX:NSC +9.38%35 Piotroski F-Score is 8 as of Jul. 05, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates ASX:NSC with a GF Score™ of 35/100. Among 1,595 Asset Management companies, NAOS Small Cap Opportunities Co ranks better than 99.25% 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
NAOS Small Cap Opportunities Co 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 NAOS Small Cap Opportunities Co's Piotroski F-Score or its related term are showing as below:
ASX:NSC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of NAOS Small Cap Opportunities Co was 8. The lowest was 4. And the median was 6.
NAOS Small Cap Opportunities Co (ASX:NSC) 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.
NAOS Small Cap Opportunities Co Piotroski F-Score Related Terms
NAOS Small Cap Opportunities Co Piotroski F-Score Historical Data
* 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.
NAOS Small Cap Opportunities Co Piotroski F-Score Chart
ASX:NSC vs BLK, BX, KKR: Piotroski F-Score Comparison
For the Asset Management subindustry, NAOS Small Cap Opportunities Co'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.
NAOS Small Cap Opportunities Co Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, NAOS Small Cap Opportunities Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where NAOS Small Cap Opportunities Co'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.
NAOS Small Cap Opportunities Co's current Net Income (TTM) was -9.07.
==> 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.
NAOS Small Cap Opportunities Co's current Cash Flow from Operations (TTM) was 26.69.
==> 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.
NAOS Small Cap Opportunities Co's return on assets of this year was -0.08130176. NAOS Small Cap Opportunities Co's return on assets of last year was -0.16488867.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
NAOS Small Cap Opportunities Co's gearing of this year was 0. NAOS Small Cap Opportunities Co's gearing of last year was 0.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
NAOS Small Cap Opportunities Co's current ratio of this year was 5.74861858. NAOS Small Cap Opportunities Co's current ratio of last year was 3.44219912.
==> 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.
NAOS Small Cap Opportunities Co's number of shares in issue this year was 134.637. NAOS Small Cap Opportunities Co's number of shares in issue last year was 135.583.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
NAOS Small Cap Opportunities Co's net margin of this year was 1.23213801. NAOS Small Cap Opportunities Co's net margin of last year was 0.76119122.
==> This year's net 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
NAOS Small Cap Opportunities Co's asset turnover of this year was -0.0659843. NAOS Small Cap Opportunities Co's asset turnover of last year was -0.21661925.
==> 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
NAOS Small Cap Opportunities Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
NAOS Small Cap Opportunities Co (ASX:NSC) has a Piotroski F-Score of 8 as of Jul. 05, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on NAOS Small Cap Opportunities Co and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, NAOS Small Cap Opportunities Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, NAOS Small Cap Opportunities Co ranks #12 out of 1595 companies in the Asset Management industry, placing it in the top 0.8%.
Is NAOS Small Cap Opportunities Co's Piotroski F-Score too high?
NAOS Small Cap Opportunities Co'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 4.00 to a high of 8.00. The Asset Management industry median Piotroski F-Score is 5.00. NAOS Small Cap Opportunities Co's value of 8 is 60% above this industry median. Based on the distribution chart, NAOS Small Cap Opportunities Co ranks #12 out of 1595 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, NAOS Small Cap Opportunities Co has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does NAOS Small Cap Opportunities Co's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, NAOS Small Cap Opportunities Co ranks #12 out of 1595 companies for Piotroski F-Score. This places NAOS Small Cap Opportunities Co in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. NAOS Small Cap Opportunities Co's value of 8 is 60% above this benchmark. Historically, NAOS Small Cap Opportunities Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, NAOS Small Cap Opportunities Co 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,595 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. NAOS Small Cap Opportunities Co'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 NAOS Small Cap Opportunities Co and its competitors. For the Asset Management 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. NAOS Small Cap Opportunities Co'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 NAOS Small Cap Opportunities Co stock overvalued right now?
NAOS Small Cap Opportunities Co (ASX:NSC) has a current Piotroski F-Score of 8. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Asset Management industry median of 5.00. NAOS Small Cap Opportunities Co's overall GF Score™ is 35/100. 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 NAOS Small Cap Opportunities Co (ASX:NSC), the current Piotroski F-Score is 8 as of Jul. 05, 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.
NAOS Small Cap Opportunities Co Business Description
NAOS Small Cap Opportunities Co Ltd is an investment company. The company invests in a concentrated portfolio of small-cap Australian listed equities that are outside the S&P/ASX100 Accumulation Index. The Company invests mainly in a concentrated portfolio of listed equities with the objective of providing investors with a long-term, concentrated exposure to Australian emerging companies It operates predominantly in Australia and one industry being the securities industry. The company derives revenue from dividend income, interest income and income from the investment portfolio.
35GF Score
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