FNQQF (Fineqia International) Piotroski F-Score: 4 (As of Jun. 27, 2026) — Near Median


What is Fineqia International Piotroski F-Score?

Fineqia International FNQQF -0.18% Piotroski F-Score is 4 as of Jun. 27, 2026, which is at its 10-year median of 4.00. The stock has 5 warning signs investors should review. Among 1,597 Asset Management companies, Fineqia International ranks worse than 56.79% 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

Fineqia International 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 Fineqia International's Piotroski F-Score or its related term are showing as below:

FNQQF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Fineqia International was 7. The lowest was 2. And the median was 4.

Fineqia International  (OTCPK:FNQQF) 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.


Fineqia International Piotroski F-Score Related Terms


Fineqia International Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Fineqia International'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.

Fineqia International Piotroski F-Score Chart

Fineqia International Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 2.00 6.00 4.00

Fineqia International Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 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 5.00 5.00 4.00 4.00

FNQQF vs BLK, BX, KKR: Piotroski F-Score Comparison

For the Asset Management subindustry, Fineqia International'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.


Fineqia International Piotroski F-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Fineqia International's Piotroski F-Score distribution charts can be found below:

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


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 -0.299 + -0.364 + -0.797 + -0.046 = $-1.51 Mil.
Cash Flow from Operations was -0.179 + -0.335 + -0.101 + -0.09 = $-0.71 Mil.
Revenue was 0.119 + 0.219 + -0.041 + 0 = $0.30 Mil.
Gross Profit was -0.113 + -0.106 + 0.275 + -0.125 = $-0.07 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(22.905 + 31.098 + 37.091 + 1.999 + 2.063) / 5 = $19.0312 Mil.
Total Assets at the begining of this year (Mar25) was $22.91 Mil.
Long-Term Debt & Capital Lease Obligation was $0.19 Mil.
Total Current Assets was $1.64 Mil.
Total Current Liabilities was $5.12 Mil.
Net Income was -0.784 + -0.488 + -0.193 + -0.42 = $-1.89 Mil.

Revenue was 0 + 0 + 0.366 + 0.125 = $0.49 Mil.
Gross Profit was -0.259 + -0.164 + 0.178 + -0.022 = $-0.27 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(1.698 + 1.394 + 1.482 + 30.388 + 22.905) / 5 = $11.5734 Mil.
Total Assets at the begining of last year (Mar24) was $1.70 Mil.
Long-Term Debt & Capital Lease Obligation was $0.71 Mil.
Total Current Assets was $21.83 Mil.
Total Current Liabilities was $23.88 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.

Fineqia International's current Net Income (TTM) was -1.51. ==> 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.

Fineqia International's current Cash Flow from Operations (TTM) was -0.71. ==> Negative ==> Score 0.

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)
=-1.506/22.905
=-0.06574984

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-1.885/1.698
=-1.11012956

Fineqia International's return on assets of this year was -0.06574984. Fineqia International's return on assets of last year was -1.11012956. ==> 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.

Fineqia International's current Net Income (TTM) was -1.51. Fineqia International's current Cash Flow from Operations (TTM) was -0.71. ==> -0.71 > -1.51 ==> 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
=0.188/19.0312
=0.00987852

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0.709/11.5734
=0.06126117

Fineqia International's gearing of this year was 0.00987852. Fineqia International's gearing of last year was 0.06126117. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=1.639/5.119
=0.32017972

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=21.829/23.882
=0.91403568

Fineqia International's current ratio of this year was 0.32017972. Fineqia International's current ratio of last year was 0.91403568. ==> 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.

Fineqia International's number of shares in issue this year was 1572.006. Fineqia International's number of shares in issue last year was 1493.405. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=-0.069/0.297
=-0.23232323

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.267/0.491
=-0.54378819

Fineqia International's gross margin of this year was -0.23232323. Fineqia International's gross margin of last year was -0.54378819. ==> 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)
=0.297/22.905
=0.0129666

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=0.491/1.698
=0.28916372

Fineqia International's asset turnover of this year was 0.0129666. Fineqia International's asset turnover of last year was 0.28916372. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

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

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

Fineqia International has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
Fineqia International (FNQQF) has a Piotroski F-Score of 4 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Fineqia International and its competitors. This is near median its historical median of 4.00. Over the past decade, Fineqia International's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Fineqia International ranks #907 out of 1597 companies in the Asset Management industry, placing it in the top 56.8%.
Is Fineqia International's Piotroski F-Score too high?
Fineqia International's current Piotroski F-Score of 4 is near median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Asset Management industry median Piotroski F-Score is 5.00. Fineqia International's value of 4 is 20% below this industry median. Based on the distribution chart, Fineqia International ranks #907 out of 1597 companies in the Asset Management industry, which is below the industry midpoint.
How does Fineqia International's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Fineqia International ranks #907 out of 1597 companies for Piotroski F-Score. This places Fineqia International in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Fineqia International's value of 4 is 20% below this benchmark. Historically, Fineqia International's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Fineqia International has consistently been below 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,597 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. Fineqia International's current Piotroski F-Score of 4 is 20% below 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 Fineqia International and its competitors. For the Asset Management 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. Fineqia International's current Piotroski F-Score is 4, which is near median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fineqia International stock overvalued right now?
Fineqia International (FNQQF) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 20% below the Asset Management industry median of 5.00. 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 Fineqia International (FNQQF), the current Piotroski F-Score is 4 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.

Fineqia International Business Description

Other Exchanges FNQ:Canada
Address 27 Hill Street Third Floor, London, GBR, W1J 5LP
Fineqia International Inc is engaged in providing investors with institutional-grade exposure to the emerging digital asset economy via a portfolio of companies, products, and projects at the convergence of blockchain-based Decentralized Finance (DeFi) and Traditional Finance (TradFi). The company is focused on developing a digital asset business that invests in early and growth-stage technology companies. The company provides a platform that facilitates the issuance, distribution, and marketing of debt securities in the UK securities for subscription by accredited investors, high net worth individuals, family offices, and fund managers.