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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Blackboxstocks Piotroski F-Score Related Terms
Blackboxstocks Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Blackboxstocks'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.
BLBX vs AVAI, HKIT, MTBLY: Piotroski F-Score Comparison
For the Software - Application subindustry, Blackboxstocks'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.
Blackboxstocks Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Blackboxstocks's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Blackboxstocks'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.
Blackboxstocks's current Net Income (TTM) was -4.43.
==> 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.
Blackboxstocks's return on assets of this year was -0.4474775. Blackboxstocks's return on assets of last year was -0.35327635.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Blackboxstocks's gearing of this year was 0.01620575. Blackboxstocks's gearing of last year was 0.02356452.
==> 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
Blackboxstocks's current ratio of this year was 0.02437326. Blackboxstocks's current ratio of last year was 0.27483599.
==> Last year's current ratio is higher ==> Score 0.
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.
Blackboxstocks's number of shares in issue this year was 4.216. Blackboxstocks's number of shares in issue last year was 3.534.
==> 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.
Blackboxstocks's gross margin of this year was 0.47963801. Blackboxstocks's gross margin of last year was 0.43981301.
==> 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
Blackboxstocks's asset turnover of this year was 0.24577899. Blackboxstocks's asset turnover of last year was 0.26119251.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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3
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Blackboxstocks has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Blackboxstocks (BLBX) has a Piotroski F-Score of 3 as of Sep. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Blackboxstocks and its competitors. This is near median its historical median of 3.00. Over the past decade, Blackboxstocks' Piotroski F-Score has ranged from 3.00 to 6.00.
Is Blackboxstocks' Piotroski F-Score too high?
Blackboxstocks' current Piotroski F-Score of 3 is near median its 10-year median of 3.00. 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. Blackboxstocks' value of 3 is 40% below this industry median. Overall, Blackboxstocks has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Blackboxstocks' Piotroski F-Score compare to AVAI and HKIT?
Blackboxstocks' Piotroski F-Score of 3 can be compared against companies in the Software industry. The industry median Piotroski F-Score is 5.00. Blackboxstocks' value of 3 is 40% below this benchmark. Historically, Blackboxstocks' own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Blackboxstocks 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 2,750 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. Blackboxstocks'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 Blackboxstocks 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. Blackboxstocks's current Piotroski F-Score is 3, which is near median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Blackboxstocks stock overvalued right now?
Blackboxstocks (BLBX) has a current Piotroski F-Score of 3. The stock's GF Value™ is $1.81, compared to a current price of $18.15 — trading 902.8% above its estimated fair value. The current Piotroski F-Score is 3, which is near median its 10-year median of 3.00 and 40% below the Software industry median of 5.00. Blackboxstocks' overall GF Score™ is 29/100 with 7 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 Blackboxstocks (BLBX), the current Piotroski F-Score is 3 as of Sep. 02, 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 Blackboxstocks (BLBX) Overvalued in 2026?
Based on GuruFocus' analysis, Blackboxstocks stock appears to be overvalued.
The current stock price of $18.15 is trading 902.8% above its estimated GF Value™ of $1.81.
Key valuation signals for BLBX:
Piotroski F-Score: 3 (near median its 10-year median of 3.00)
GF Value™: $1.81 vs. price of $18.15 (902.8% above fair value)
No single metric tells the full story. See the BLBX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Blackboxstocks Inc is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Its web-based software (the Blackbox System) employs predictive technology enhanced by artificial intelligence to find volatility and unusual market activity that may result in a rapid change in the price of a stock or option. It provides users with a fully interactive social media platform that is integrated into its dashboard, enabling users to exchange information and ideas quickly and efficiently through a common network. The company introduced a live audio/video feature that allows members to broadcast on their channels to share trading strategies and market insight within the Blackbox community.
29GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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