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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.
Biggeorge Property Zrt Piotroski F-Score Related Terms
Biggeorge Property Zrt Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Biggeorge Property Zrt'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 Real Estate - Development subindustry, Biggeorge Property Zrt'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.
Biggeorge Property Zrt Piotroski F-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Biggeorge Property Zrt's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Biggeorge Property Zrt'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.
Biggeorge Property Zrt's current Net Income (TTM) was 21,055.
==> 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.
Score 1 if positive, 0 if negative.
Biggeorge Property Zrt's current Cash Flow from Operations (TTM) was 8,347.
==> 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.
Biggeorge Property Zrt's return on assets of this year was 0.27396038. Biggeorge Property Zrt's return on assets of last year was 0.24464361.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Biggeorge Property Zrt's gearing of this year was 0.08285662. Biggeorge Property Zrt's gearing of last year was 0.1415841.
==> 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
Biggeorge Property Zrt's current ratio of this year was 2.06967596. Biggeorge Property Zrt's current ratio of last year was 3.59985626.
==> 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.
Biggeorge Property Zrt's number of shares in issue this year was 25.835. Biggeorge Property Zrt's number of shares in issue last year was 20.138.
==> 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.
Biggeorge Property Zrt's gross margin of this year was 0.26752996. Biggeorge Property Zrt's gross margin of last year was 0.5555929.
==> 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
Biggeorge Property Zrt's asset turnover of this year was 0.62375907. Biggeorge Property Zrt's asset turnover of last year was 0.21156237.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Biggeorge Property Zrt has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Biggeorge Property Zrt (BUD:BIGGEORGE) has a Piotroski F-Score of 5 as of Jul. 20, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Biggeorge Property Zrt and its competitors. This is near median its historical median of 5.00. Over the past decade, Biggeorge Property Zrt's Piotroski F-Score has ranged from 3.00 to 6.00.
Is Biggeorge Property Zrt's Piotroski F-Score too high?
Biggeorge Property Zrt's current Piotroski F-Score of 5 is near 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 Real Estate industry median Piotroski F-Score is 5.00. Biggeorge Property Zrt's value of 5 is 0% at this industry median. Overall, Biggeorge Property Zrt has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Biggeorge Property Zrt's Piotroski F-Score compare to competitors?
Biggeorge Property Zrt's Piotroski F-Score of 5 can be compared against companies in the Real Estate industry. The industry median Piotroski F-Score is 5.00. Biggeorge Property Zrt's value of 5 is 0% at this benchmark. Historically, Biggeorge Property Zrt'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, Biggeorge Property Zrt has consistently been at 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 Real Estate company?
The median Piotroski F-Score among Real Estate companies is 5.00, based on 1,757 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. Biggeorge Property Zrt's current Piotroski F-Score of 5 is 0% at 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 Biggeorge Property Zrt and its competitors. For the Real Estate 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. Biggeorge Property Zrt's current Piotroski F-Score is 5, which is near 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 Biggeorge Property Zrt stock overvalued right now?
Biggeorge Property Zrt (BUD:BIGGEORGE) has a current Piotroski F-Score of 5. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Real Estate industry median of 5.00. Biggeorge Property Zrt's overall GF Score™ is 32/100 with 5 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 Biggeorge Property Zrt (BUD:BIGGEORGE), the current Piotroski F-Score is 5 as of Jul. 20, 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.
Biggeorge Property Zrt operates as a real estate developer. It engages in real estate development, investment, and operation. The company's field of activity includes the development of commercial (office, hotel, retail, industrial/logistical) and residential real estate as well. In addition, it offers Asset management, Fund management, and Facility management services.
32GF Score
Get the complete analysis for BUD:BIGGEORGE
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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