Naturland Holding Zrt (BUD:NATURLAND) Piotroski F-Score: 8 (As of Jun. 26, 2026) — 14% Above Median


BUD:NATURLAND Naturland Holding Zrt BUD:NATURLAND
61 GF Score
Price Ft2,820.00
GF Value Ft2,879.22
Valuation Fairly Valued
! 6 Warning Signs
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What is Naturland Holding Zrt Piotroski F-Score?

Naturland Holding Zrt BUD:NATURLAND 61 Piotroski F-Score is 8 as of Jun. 26, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates BUD:NATURLAND with a GF Score™ of 61/100 and a GF Value™ of Ft2,879.22 (Fairly Valued). The stock has 6 warning signs investors should review. Among 981 Drug Manufacturers companies, Naturland Holding Zrt ranks better than 98.37% 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

Naturland Holding Zrt 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 Naturland Holding Zrt's Piotroski F-Score or its related term are showing as below:

BUD:NATURLAND' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 8

During the past 5 years, the highest Piotroski F-Score of Naturland Holding Zrt was 8. The lowest was 4. And the median was 7.

Naturland Holding Zrt  (BUD:NATURLAND) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Naturland Holding Zrt Piotroski F-Score Related Terms


Naturland Holding Zrt Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Naturland Holding 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.

Naturland Holding Zrt Piotroski F-Score Chart

Naturland Holding Zrt Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
N/A N/A 4.00 7.00 8.00

Naturland Holding Zrt Semi-Annual Data
Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only 0.00 7.00 0.00 8.00 0.00

BUD:NATURLAND vs ZTS, UTHR, VTRS: Piotroski F-Score Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Naturland Holding 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.


Naturland Holding Zrt Piotroski F-Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Naturland Holding Zrt's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Naturland Holding Zrt's Piotroski F-Score falls into.


BUD:NATURLAND
61GF Score
Naturland Holding Zrt BUD:NATURLAND
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was Ft1,420 Mil.
Cash Flow from Operations was Ft465 Mil.
Revenue was Ft6,082 Mil.
Gross Profit was Ft3,469 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was (4529.648 + 4843.065) / 2 = Ft4686.3565 Mil.
Total Assets at the begining of this year (Dec23) was Ft4,530 Mil.
Long-Term Debt & Capital Lease Obligation was Ft145 Mil.
Total Current Assets was Ft2,543 Mil.
Total Current Liabilities was Ft914 Mil.
Net Income was Ft1,151 Mil.

Revenue was Ft5,588 Mil.
Gross Profit was Ft3,061 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was (4688.768 + 4529.648) / 2 = Ft4609.208 Mil.
Total Assets at the begining of last year (Dec22) was Ft4,689 Mil.
Long-Term Debt & Capital Lease Obligation was Ft160 Mil.
Total Current Assets was Ft2,342 Mil.
Total Current Liabilities was Ft968 Mil.

*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.

Naturland Holding Zrt's current Net Income (TTM) was 1,420. ==> 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.

Naturland Holding Zrt's current Cash Flow from Operations (TTM) was 465. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec23)
=1420.455/4529.648
=0.31359059

ROA (Last Year)=Net Income/Total Assets (Dec22)
=1150.793/4688.768
=0.24543611

Naturland Holding Zrt's return on assets of this year was 0.31359059. Naturland Holding Zrt's return on assets of last year was 0.24543611. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Naturland Holding Zrt's current Net Income (TTM) was 1,420. Naturland Holding Zrt's current Cash Flow from Operations (TTM) was 465. ==> 465 <= 1,420 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=144.88/4686.3565
=0.03091528

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=159.904/4609.208
=0.03469229

Naturland Holding Zrt's gearing of this year was 0.03091528. Naturland Holding Zrt's gearing of last year was 0.03469229. ==> 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

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=2542.755/913.725
=2.78284495

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=2341.646/967.654
=2.41992076

Naturland Holding Zrt's current ratio of this year was 2.78284495. Naturland Holding Zrt's current ratio of last year was 2.41992076. ==> 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.

Naturland Holding Zrt's number of shares in issue this year was 13.816. Naturland Holding Zrt's number of shares in issue last year was 13.816. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3468.726/6081.771
=0.57034801

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3060.863/5587.992
=0.54775723

Naturland Holding Zrt's gross margin of this year was 0.57034801. Naturland Holding Zrt's gross margin of last year was 0.54775723. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=6081.771/4529.648
=1.34265863

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=5587.992/4688.768
=1.19178257

Naturland Holding Zrt's asset turnover of this year was 1.34265863. Naturland Holding Zrt's asset turnover of last year was 1.19178257. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Naturland Holding Zrt has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
Naturland Holding Zrt (BUD:NATURLAND) has a Piotroski F-Score of 8 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Naturland Holding Zrt and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Naturland Holding Zrt's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Naturland Holding Zrt ranks #16 out of 981 companies in the Drug Manufacturers industry, placing it in the top 1.6%.
Is Naturland Holding Zrt's Piotroski F-Score too high?
Naturland Holding Zrt's current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Drug Manufacturers industry median Piotroski F-Score is 5.00. Naturland Holding Zrt's value of 8 is 60% above this industry median. Based on the distribution chart, Naturland Holding Zrt ranks #16 out of 981 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, Naturland Holding Zrt has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Naturland Holding Zrt's Piotroski F-Score compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Naturland Holding Zrt ranks #16 out of 981 companies for Piotroski F-Score. This places Naturland Holding Zrt in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Naturland Holding Zrt's value of 8 is 60% above this benchmark. Historically, Naturland Holding Zrt'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 7.00 vs. the industry median of 5.00, Naturland Holding Zrt 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 a Drug Manufacturers company?
The median Piotroski F-Score among Drug Manufacturers companies is 5.00, based on 981 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. Naturland Holding Zrt'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 Naturland Holding Zrt and its competitors. For the Drug Manufacturers 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. Naturland Holding Zrt's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naturland Holding Zrt stock overvalued right now?
Based on GuruFocus' analysis, Naturland Holding Zrt (BUD:NATURLAND) is currently considered Fairly Valued. The stock's GF Value™ is Ft2,879.22, compared to a current price of Ft2,820.00 — trading 2.1% below its estimated fair value. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 60% above the Drug Manufacturers industry median of 5.00. Naturland Holding Zrt's overall GF Score™ is 61/100 with 6 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 Naturland Holding Zrt (BUD:NATURLAND), the current Piotroski F-Score is 8 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 Naturland Holding Zrt (BUD:NATURLAND) Overvalued in 2026?

Based on GuruFocus' analysis, Naturland Holding Zrt stock appears to be undervalued. The current stock price of Ft2,820.00 is trading 2.1% below its estimated GF Value™ of Ft2,879.22. GuruFocus considers Naturland Holding Zrt to be Fairly Valued.

Key valuation signals for BUD:NATURLAND:

  • Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
  • GF Value™: Ft2,879.22 vs. price of Ft2,820.00 (2.1% below fair value)
  • GF Score™: 61/100 with 6 warning signs
  • Industry Position: 60% above the Drug Manufacturers median (#16 of 981)

No single metric tells the full story. See the BUD:NATURLAND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Naturland Holding Zrt Business Description

Address Csillagvirag utca 8, Budapest, HUN, 1106
Naturland Holding Zrt thro9ugh its subsidiaries engage in the production of pharmaceutical products. It engages in the development, production, and wholesale of dietary supplements and cosmetics, herbal medicine, teas, and essential oils. The firm offers tablets, suppositories, ointments, and ophthalmic base solutions.
61GF Score

Get the complete analysis for BUD:NATURLAND

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Ft2,820.00
Price
Ft2,879.22
GF Value