ECNLF (Aquafil SpA) Piotroski F-Score: 7 (As of Jun. 30, 2026) — 17% Above Median


ECNLF Aquafil SpA ECNLF
67 GF Score
Price $1.47
GF Value $1.52
! 3 Warning Signs
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What is Aquafil SpA Piotroski F-Score?

Aquafil SpA ECNLF 67 Piotroski F-Score is 7 as of Jun. 30, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates ECNLF with a GF Score™ of 67/100 and a GF Value™ of $1.52. The stock has 3 warning signs investors should review. Among 1,051 Manufacturing - Apparel & Accessories companies, Aquafil SpA ranks better than 90.87% on this metric.

Good Sign:

Piotroski F-Score is 7, 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

Aquafil SpA has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Aquafil SpA's Piotroski F-Score or its related term are showing as below:

ECNLF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 7

During the past 10 years, the highest Piotroski F-Score of Aquafil SpA was 8. The lowest was 3. And the median was 6.

Aquafil SpA  (OTCPK:ECNLF) 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.


Aquafil SpA Piotroski F-Score Related Terms


Aquafil SpA Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Aquafil SpA'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.

Aquafil SpA Piotroski F-Score Chart

Aquafil SpA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 5.00 4.00 4.00 7.00

Aquafil SpA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 4.00 7.00 7.00 7.00

ECNLF vs AIN: Piotroski F-Score Comparison

For the Textile Manufacturing subindustry, Aquafil SpA'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.


Aquafil SpA Piotroski F-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Aquafil SpA's Piotroski F-Score distribution charts can be found below:

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


ECNLF
67GF Score
Aquafil SpA ECNLF
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 2.073 + -2.113 + -5.993 + 1.408 = $-4.6 Mil.
Cash Flow from Operations was 12.31 + -3.556 + 26.189 + 12.859 = $47.8 Mil.
Revenue was 162.084 + 145.08 + 144.392 + 156.712 = $608.3 Mil.
Gross Profit was 98.083 + 83.966 + 87.198 + 90.694 = $359.9 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(675.01 + 708.416 + 752.914 + 732.605 + 729.608) / 5 = $719.7106 Mil.
Total Assets at the begining of this year (Mar25) was $675.0 Mil.
Long-Term Debt & Capital Lease Obligation was $3.1 Mil.
Total Current Assets was $428.3 Mil.
Total Current Liabilities was $236.3 Mil.
Net Income was -3.26 + -2.937 + -7.889 + 0.462 = $-13.6 Mil.

Revenue was 153.153 + 145.699 + 134.398 + 158.789 = $592.0 Mil.
Gross Profit was 85.028 + 82.396 + 78.746 + 89.892 = $336.1 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(743.302 + 727.433 + 685.827 + 686.134 + 675.01) / 5 = $703.5412 Mil.
Total Assets at the begining of last year (Mar24) was $743.3 Mil.
Long-Term Debt & Capital Lease Obligation was $2.8 Mil.
Total Current Assets was $365.6 Mil.
Total Current Liabilities was $246.9 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.

Aquafil SpA's current Net Income (TTM) was -4.6. ==> 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.

Score 1 if positive, 0 if negative.

Aquafil SpA's current Cash Flow from Operations (TTM) was 47.8. ==> 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 (Mar25)
=-4.625/675.01
=-0.00685175

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-13.624/743.302
=-0.01832902

Aquafil SpA's return on assets of this year was -0.00685175. Aquafil SpA's return on assets of last year was -0.01832902. ==> 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.

Aquafil SpA's current Net Income (TTM) was -4.6. Aquafil SpA's current Cash Flow from Operations (TTM) was 47.8. ==> 47.8 > -4.6 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=3.127/719.7106
=0.0043448

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=2.848/703.5412
=0.00404809

Aquafil SpA's gearing of this year was 0.0043448. Aquafil SpA's gearing of last year was 0.00404809. ==> Last year is lower than this year ==> Score 0.

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: Mar26)=Total Current Assets/Total Current Liabilities
=428.257/236.275
=1.81253624

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=365.635/246.869
=1.48108916

Aquafil SpA's current ratio of this year was 1.81253624. Aquafil SpA's current ratio of last year was 1.48108916. ==> 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.

Aquafil SpA's number of shares in issue this year was 86.258. Aquafil SpA's number of shares in issue last year was 86.258. ==> 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
=359.941/608.268
=0.59174739

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=336.062/592.039
=0.5676349

Aquafil SpA's gross margin of this year was 0.59174739. Aquafil SpA's gross margin of last year was 0.5676349. ==> 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 (Mar25)
=608.268/675.01
=0.90112443

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=592.039/743.302
=0.7964986

Aquafil SpA's asset turnover of this year was 0.90112443. Aquafil SpA's asset turnover of last year was 0.7964986. ==> 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
=0+1+1+1+0+1+1+1+1
=7

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

Aquafil SpA has an F-score of 7. 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 7 mean?
Aquafil SpA (ECNLF) has a Piotroski F-Score of 7 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Aquafil SpA and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Aquafil SpA's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Aquafil SpA ranks #96 out of 1051 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 9.1%.
Is Aquafil SpA's Piotroski F-Score too high?
Aquafil SpA's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Manufacturing - Apparel & Accessories industry median Piotroski F-Score is 5.00. Aquafil SpA's value of 7 is 40% above this industry median. Based on the distribution chart, Aquafil SpA ranks #96 out of 1051 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Aquafil SpA has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.
How does Aquafil SpA's Piotroski F-Score compare to AIN?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Aquafil SpA ranks #96 out of 1051 companies for Piotroski F-Score. This places Aquafil SpA in the top 9% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Aquafil SpA's value of 7 is 40% above this benchmark. Historically, Aquafil SpA'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 6.00 vs. the industry median of 5.00, Aquafil SpA 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 Manufacturing - Apparel & Accessories company?
The median Piotroski F-Score among Manufacturing - Apparel & Accessories companies is 5.00, based on 1,051 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. Aquafil SpA's current Piotroski F-Score of 7 is 40% 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 Aquafil SpA and its competitors. For the Manufacturing - Apparel & Accessories 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. Aquafil SpA's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aquafil SpA stock overvalued right now?
Aquafil SpA (ECNLF) has a current Piotroski F-Score of 7. The stock's GF Value™ is $1.52, compared to a current price of $1.47 — trading 3.3% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Manufacturing - Apparel & Accessories industry median of 5.00. Aquafil SpA's overall GF Score™ is 67/100 with 3 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 Aquafil SpA (ECNLF), the current Piotroski F-Score is 7 as of Jun. 30, 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 Aquafil SpA (ECNLF) Overvalued in 2026?

Based on GuruFocus' analysis, Aquafil SpA stock appears to be undervalued. The current stock price of $1.47 is trading 3.3% below its estimated GF Value™ of $1.52.

Key valuation signals for ECNLF:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: $1.52 vs. price of $1.47 (3.3% below fair value)
  • GF Score™: 67/100 with 3 warning signs
  • Industry Position: 40% above the Manufacturing - Apparel & Accessories median (#96 of 1051)

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


Aquafil SpA Business Description

Address Via Linfano, 9, Arco, Trento, ITA, 38062
Aquafil SpA is engaged in the business of manufacturing polyamides. It produces and sells fibers and polymers, principally polyamide 6, scale through the: BCF Product Line (carpet fibers), or synthetic yarns mainly intended for the textile flooring sector and used in contract segments (hotels, airports, offices, etc.), residential buildings and the automotive market; NTF Product Line (clothing fibers), or synthetic yarns mainly intended for the clothing sector (sportswear, classic, technical or specialist apparel); Polymers Product Line, or plastic raw materials, mainly targeting the engineering plastics sector for subsequent use in the molding industry. Its products are also sold on the market under the ECONYL brand.
67GF Score

Get the complete analysis for ECNLF

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

$1.47
Price
$1.52
GF Value