Vulcan Energy ResourcesASX:VUL -4.17%57 Piotroski F-Score is 2 as of Jun. 26, 2026, which is at its 10-year median of 2.00. GuruFocus rates ASX:VUL with a GF Score™ of 57/100 and a GF Value™ of A$3.48 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,512 Metals & Mining companies, Vulcan Energy Resources ranks worse than 73.89% on this metric.
Warning Sign:
Piotroski F-Score of 2 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
Vulcan Energy Resources has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Vulcan Energy Resources's Piotroski F-Score or its related term are showing as below:
ASX:VUL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 2 Max: 4
Current: 2
During the past 7 years, the highest Piotroski F-Score of Vulcan Energy Resources was 4. The lowest was 2. And the median was 2.
Vulcan Energy Resources (ASX:VUL) 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.
Vulcan Energy Resources Piotroski F-Score Related Terms
Vulcan Energy Resources Piotroski F-Score Historical Data
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The historical data trend for Vulcan Energy Resources'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.
Vulcan Energy Resources Piotroski F-Score Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Vulcan Energy Resources'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.
Vulcan Energy Resources Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vulcan Energy Resources's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Vulcan Energy Resources'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.
Vulcan Energy Resources's current Net Income (TTM) was -122.61.
==> 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.
Vulcan Energy Resources's current Cash Flow from Operations (TTM) was -84.12.
==> 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.
Vulcan Energy Resources's return on assets of this year was -0.19462438. Vulcan Energy Resources's return on assets of last year was -0.14479345.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Vulcan Energy Resources's gearing of this year was 0.04361353. Vulcan Energy Resources's gearing of last year was 0.00914803.
==> 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
Vulcan Energy Resources's current ratio of this year was 10.08106325. Vulcan Energy Resources's current ratio of last year was 4.79652546.
==> 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.
Vulcan Energy Resources's number of shares in issue this year was 235.251. Vulcan Energy Resources's number of shares in issue last year was 217.538.
==> 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.
Vulcan Energy Resources's gross margin of this year was 0.59793098. Vulcan Energy Resources's gross margin of last year was 0.90762813.
==> 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
Vulcan Energy Resources's asset turnover of this year was 0.02056055. Vulcan Energy Resources's asset turnover of last year was 0.02775337.
==> 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
Vulcan Energy Resources has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Vulcan Energy Resources (ASX:VUL) has a Piotroski F-Score of 2 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Vulcan Energy Resources and its competitors. This is near median its historical median of 2.00. Over the past decade, Vulcan Energy Resources' Piotroski F-Score has ranged from 2.00 to 4.00. According to the industry distribution chart, Vulcan Energy Resources ranks #1856 out of 2512 companies in the Metals & Mining industry, placing it in the top 73.9%.
Is Vulcan Energy Resources' Piotroski F-Score too high?
Vulcan Energy Resources' current Piotroski F-Score of 2 is near median its 10-year median of 2.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 4.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Vulcan Energy Resources' value of 2 is 33.3% below this industry median. Based on the distribution chart, Vulcan Energy Resources ranks #1856 out of 2512 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Vulcan Energy Resources has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Energy Resources' Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Vulcan Energy Resources ranks #1856 out of 2512 companies for Piotroski F-Score. This places Vulcan Energy Resources in the lower half of its industry. The industry median Piotroski F-Score is 3.00. Vulcan Energy Resources' value of 2 is 33.3% below this benchmark. Historically, Vulcan Energy Resources' own Piotroski F-Score has ranged from 2.00 to 4.00 over the past decade. While the company's 10-year median is 2.00 vs. the industry median of 3.00, Vulcan Energy Resources 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,512 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. Vulcan Energy Resources's current Piotroski F-Score of 2 is 33.3% 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 Vulcan Energy Resources 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. Vulcan Energy Resources's current Piotroski F-Score is 2, which is near median its own 10-year median of 2.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Energy Resources stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Energy Resources (ASX:VUL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$3.48, compared to a current price of A$2.99 — trading 14.1% below its estimated fair value. The current Piotroski F-Score is 2, which is near median its 10-year median of 2.00 and 33.3% below the Metals & Mining industry median of 3.00. Vulcan Energy Resources' overall GF Score™ is 57/100 with 2 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 Vulcan Energy Resources (ASX:VUL), the current Piotroski F-Score is 2 as of Jun. 26, 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 Vulcan Energy Resources (ASX:VUL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Energy Resources stock appears to be undervalued.
The current stock price of A$2.99 is trading 14.1% below its estimated GF Value™ of A$3.48.
GuruFocus considers Vulcan Energy Resources to be Modestly Undervalued.
Key valuation signals for ASX:VUL:
Piotroski F-Score: 2 (near median its 10-year median of 2.00)
GF Value™: A$3.48 vs. price of A$2.99 (14.1% below fair value)
Industry Position: 33.3% below the Metals & Mining median (#1856 of 2512)
No single metric tells the full story. See the ASX:VUL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Energy Resources Ltd is engaged in geothermal energy and lithium exploration and production. The company's Lionheart Project is an integrated lithium and renewable energy project that produces battery-quality lithium from naturally heated subsurface brine in the Upper Rhine Valley, to deliver a local source of sustainable lithium for the European battery industry, with a co-product of renewable energy for local heating needs. It has developed an aluminate-based sorbent, VULSORB, to produce lithium from subsurface brine and harnesses geothermal energy from its operations in the Upper Rhine Valley. The company has three operating segments based on geographical location: Germany, which derives the maximum revenue, other European countries, and Australia.
57GF Score
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