Nickel 28 CapitalCONXF -7.05%36 Piotroski F-Score is 4 as of Jun. 25, 2026, which is 33% above its 10-year median of 3.00. GuruFocus rates CONXF with a GF Score™ of 36/100. Among 2,511 Metals & Mining companies, Nickel 28 Capital ranks better than 78.22% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Nickel 28 Capital has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Nickel 28 Capital's Piotroski F-Score or its related term are showing as below:
CONXF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 4
Current: 4
During the past 7 years, the highest Piotroski F-Score of Nickel 28 Capital was 4. The lowest was 1. And the median was 3.
Nickel 28 Capital (OTCPK:CONXF) 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.
Nickel 28 Capital Piotroski F-Score Related Terms
Nickel 28 Capital Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Nickel 28 Capital'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.
Nickel 28 Capital Piotroski F-Score Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Nickel 28 Capital'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.
Nickel 28 Capital Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel 28 Capital's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nickel 28 Capital'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.
Nickel 28 Capital's current Net Income (TTM) was -1.06.
==> 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.
Nickel 28 Capital's return on assets of this year was -0.0081027. Nickel 28 Capital's return on assets of last year was -0.0135956.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nickel 28 Capital's gearing of this year was 0.17036161. Nickel 28 Capital's gearing of last year was 0.22585922.
==> 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
Nickel 28 Capital's current ratio of this year was 1.12588773. Nickel 28 Capital's current ratio of last year was 1.71667842.
==> 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.
Nickel 28 Capital's number of shares in issue this year was 86.897. Nickel 28 Capital's number of shares in issue last year was 88.894.
==> 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.
Nickel 28 Capital's gross margin of this year was . Nickel 28 Capital's gross margin of last year was .
==> 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
Nickel 28 Capital's asset turnover of this year was 0. Nickel 28 Capital's asset turnover of last year was 0.
==> 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
Nickel 28 Capital has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Nickel 28 Capital (CONXF) has a Piotroski F-Score of 4 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nickel 28 Capital and its competitors. This is 33% above median its historical median of 3.00. Over the past decade, Nickel 28 Capital's Piotroski F-Score has ranged from 1.00 to 4.00. According to the industry distribution chart, Nickel 28 Capital ranks #547 out of 2511 companies in the Metals & Mining industry, placing it in the top 21.8%.
Is Nickel 28 Capital's Piotroski F-Score too high?
Nickel 28 Capital's current Piotroski F-Score of 4 is 33% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 4.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Nickel 28 Capital's value of 4 is 33.3% above this industry median. Based on the distribution chart, Nickel 28 Capital ranks #547 out of 2511 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Nickel 28 Capital has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Nickel 28 Capital's Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Nickel 28 Capital ranks #547 out of 2511 companies for Piotroski F-Score. This places Nickel 28 Capital in the top 22% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Nickel 28 Capital's value of 4 is 33.3% above this benchmark. Historically, Nickel 28 Capital's own Piotroski F-Score has ranged from 1.00 to 4.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 3.00, Nickel 28 Capital 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,511 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. Nickel 28 Capital's current Piotroski F-Score of 4 is 33.3% 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 Nickel 28 Capital 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. Nickel 28 Capital's current Piotroski F-Score is 4, which is 33% above 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 Nickel 28 Capital stock overvalued right now?
Nickel 28 Capital (CONXF) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 33% above median its 10-year median of 3.00 and 33.3% above the Metals & Mining industry median of 3.00. Nickel 28 Capital's overall GF Score™ is 36/100. 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 Nickel 28 Capital (CONXF), the current Piotroski F-Score is 4 as of Jun. 25, 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.
Nickel 28 Capital Corp is a base metals company offering direct exposure to nickel and cobalt. The Company holds a joint-venture interest in the producing Ramu Nickel-Cobalt Operation in Papua New Guinea and manages a portfolio of nickel and cobalt royalties in projects in Canada, Australia, and Papua New Guinea, including royalties in the Dumont nickel project in Quebec and the Turnagain nickel project in British Columbia. The Company is engaged in the management and acquisition of joint venture and royalty interests in the nickel and cobalt sectors. Its primary focus is on opportunities that could provide shareholders with near-term cash flow and royalties on production and exploration-stage nickel and/or cobalt properties. The Company operates in Canada and Asia Pacific.
36GF Score
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