Trustpilot Group (CHIX:TRSTL) Piotroski F-Score: 8 (As of Jun. 27, 2026) — 60% Above Median


CHIX:TRSTL Trustpilot Group PLC CHIX:TRSTL
77 GF Score
Price £2.41
GF Value £2.79
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Trustpilot Group Piotroski F-Score?

Trustpilot Group CHIX:TRSTL +2.25% 77 Piotroski F-Score is 8 as of Jun. 27, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates CHIX:TRSTL with a GF Score™ of 77/100 and a GF Value™ of £2.79 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,743 Software companies, Trustpilot Group ranks better than 98.65% 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

Trustpilot Group 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 Trustpilot Group's Piotroski F-Score or its related term are showing as below:

CHIX:TRSTl' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 8

During the past 8 years, the highest Piotroski F-Score of Trustpilot Group was 8. The lowest was 3. And the median was 5.

Trustpilot Group  (CHIX:TRSTl) 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.


Trustpilot Group Piotroski F-Score Related Terms


Trustpilot Group Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Trustpilot Group'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.

Trustpilot Group Piotroski F-Score Chart

Trustpilot Group Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial 4.00 3.00 7.00 4.00 8.00

Trustpilot Group Semi-Annual Data
Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 0.00 4.00 0.00 8.00

CHIX:TRSTL vs CRM, SHOP, UBER: Piotroski F-Score Comparison

For the Software - Application subindustry, Trustpilot Group'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.


Trustpilot Group Piotroski F-Score vs Software Industry

For the Software industry and Technology sector, Trustpilot Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Trustpilot Group's Piotroski F-Score falls into.


CHIX:TRSTL
77GF Score
Trustpilot Group PLC CHIX:TRSTL
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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was £5.8 Mil.
Cash Flow from Operations was £44.2 Mil.
Revenue was £195.0 Mil.
Gross Profit was £161.3 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (114.316 + 95.248) / 2 = £104.782 Mil.
Total Assets at the begining of this year (Dec24) was £114.3 Mil.
Long-Term Debt & Capital Lease Obligation was £9.4 Mil.
Total Current Assets was £57.6 Mil.
Total Current Liabilities was £87.7 Mil.
Net Income was £4.9 Mil.

Revenue was £166.7 Mil.
Gross Profit was £135.8 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (123.534 + 114.316) / 2 = £118.925 Mil.
Total Assets at the begining of last year (Dec23) was £123.5 Mil.
Long-Term Debt & Capital Lease Obligation was £12.9 Mil.
Total Current Assets was £73.1 Mil.
Total Current Liabilities was £66.0 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.

Trustpilot Group's current Net Income (TTM) was 5.8. ==> 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.

Trustpilot Group's current Cash Flow from Operations (TTM) was 44.2. ==> 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 (Dec24)
=5.795/114.316
=0.05069282

ROA (Last Year)=Net Income/Total Assets (Dec23)
=4.931/123.534
=0.03991614

Trustpilot Group's return on assets of this year was 0.05069282. Trustpilot Group's return on assets of last year was 0.03991614. ==> 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.

Trustpilot Group's current Net Income (TTM) was 5.8. Trustpilot Group's current Cash Flow from Operations (TTM) was 44.2. ==> 44.2 > 5.8 ==> CFROA > ROA ==> Score 1.

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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=9.437/104.782
=0.09006318

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=12.867/118.925
=0.10819424

Trustpilot Group's gearing of this year was 0.09006318. Trustpilot Group's gearing of last year was 0.10819424. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=57.591/87.743
=0.65636005

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=73.119/65.978
=1.10823305

Trustpilot Group's current ratio of this year was 0.65636005. Trustpilot Group's current ratio of last year was 1.10823305. ==> 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.

Trustpilot Group's number of shares in issue this year was 433.717. Trustpilot Group's number of shares in issue last year was 442.243. ==> 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
=161.253/195.004
=0.8269215

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=135.762/166.704
=0.81438958

Trustpilot Group's gross margin of this year was 0.8269215. Trustpilot Group's gross margin of last year was 0.81438958. ==> 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 (Dec24)
=195.004/114.316
=1.70583295

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=166.704/123.534
=1.34945845

Trustpilot Group's asset turnover of this year was 1.70583295. Trustpilot Group's asset turnover of last year was 1.34945845. ==> 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+1+1+0+1+1+1
=8

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

Trustpilot Group 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?
Trustpilot Group (CHIX:TRSTL) has a Piotroski F-Score of 8 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Trustpilot Group and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Trustpilot Group's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Trustpilot Group ranks #37 out of 2743 companies in the Software industry, placing it in the top 1.3%.
Is Trustpilot Group's Piotroski F-Score too high?
Trustpilot Group's current Piotroski F-Score of 8 is 60% above 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 8.00. The Software industry median Piotroski F-Score is 5.00. Trustpilot Group's value of 8 is 60% above this industry median. Based on the distribution chart, Trustpilot Group ranks #37 out of 2743 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Trustpilot Group has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Trustpilot Group's Piotroski F-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Trustpilot Group ranks #37 out of 2743 companies for Piotroski F-Score. This places Trustpilot Group in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Trustpilot Group's value of 8 is 60% above this benchmark. Historically, Trustpilot Group's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Trustpilot Group 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,743 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. Trustpilot Group'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 Trustpilot Group 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. Trustpilot Group's current Piotroski F-Score is 8, which is 60% above 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 Trustpilot Group stock overvalued right now?
Based on GuruFocus' analysis, Trustpilot Group (CHIX:TRSTL) is currently considered Modestly Undervalued. The stock's GF Value™ is £2.79, compared to a current price of £2.41 — trading 13.8% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 60% above the Software industry median of 5.00. Trustpilot Group's overall GF Score™ is 77/100 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 Trustpilot Group (CHIX:TRSTL), the current Piotroski F-Score is 8 as of Jun. 27, 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 Trustpilot Group (CHIX:TRSTL) Overvalued in 2026?

Based on GuruFocus' analysis, Trustpilot Group stock appears to be undervalued. The current stock price of £2.41 is trading 13.8% below its estimated GF Value™ of £2.79. GuruFocus considers Trustpilot Group to be Modestly Undervalued.

Key valuation signals for CHIX:TRSTL:

  • Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
  • GF Value™: £2.79 vs. price of £2.41 (13.8% below fair value)
  • GF Score™: 77/100 with 2 warning signs
  • Industry Position: 60% above the Software median (#37 of 2743)

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


Trustpilot Group Business Description

Other Exchanges TRTPF:USATRST:UK6VZ:Germany
Address 21 Mincing Lane, 5th Floor, The Minster Building, London, GBR, EC3R 7AG
Trustpilot Group PLC and its subsidiaries consist of developing and hosting an online review platform that helps consumers make purchasing decisions and businesses showcase and improve their services. Trustpilot is open, independent, and impartial and helps consumers make the right choices and businesses to build trust, grow and improve. The group consists of more than 361million reviews and approximately 64 million monthly active users across the globe, with around 160 billion annual Trustbox impressions.
77GF Score

Get the complete analysis for CHIX:TRSTL

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

£2.41
Price
£2.79
GF Value