Tile Shop HoldingsFRA:2TS0 44 Piotroski F-Score is 3 as of Jun. 29, 2026, which is 50% below its 10-year median of 6.00. GuruFocus rates FRA:2TS0 with a GF Score™ of 44/100 and a GF Value™ of €5.92. The stock has 5 warning signs investors should review. Among 1,096 Retail - Cyclical companies, Tile Shop Holdings ranks worse than 87.04% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tile Shop Holdings has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Tile Shop Holdings's Piotroski F-Score or its related term are showing as below:
FRA:2TS0'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of Tile Shop Holdings was 8. The lowest was 3. And the median was 6.
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.
Tile Shop Holdings Piotroski F-Score Related Terms
Tile Shop Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Tile Shop Holdings'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.
FRA:2TS0 vs LIVE, HVT, HD: Piotroski F-Score Comparison
For the Home Improvement Retail subindustry, Tile Shop Holdings'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.
Tile Shop Holdings Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Tile Shop Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Tile Shop Holdings'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.
Tile Shop Holdings's current Net Income (TTM) was -3.8.
==> 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.
Tile Shop Holdings's return on assets of this year was -0.01250569. Tile Shop Holdings's return on assets of last year was 0.00731091.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tile Shop Holdings's gearing of this year was 0.39271495. Tile Shop Holdings's gearing of last year was 0.36589245.
==> 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
Tile Shop Holdings's current ratio of this year was 1.42666647. Tile Shop Holdings's current ratio of last year was 1.52846419.
==> 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.
Tile Shop Holdings's number of shares in issue this year was 0. Tile Shop Holdings's number of shares in issue last year was 44.057.
==> 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.
Tile Shop Holdings's gross margin of this year was 0.6388627. Tile Shop Holdings's gross margin of last year was 0.65639394.
==> 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
Tile Shop Holdings's asset turnover of this year was 0.96609997. Tile Shop Holdings's asset turnover of last year was 1.10646445.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tile Shop Holdings has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Tile Shop Holdings (FRA:2TS0) has a Piotroski F-Score of 3 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tile Shop Holdings and its competitors. This is 50% below median its historical median of 6.00. Over the past decade, Tile Shop Holdings' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Tile Shop Holdings ranks #954 out of 1096 companies in the Retail - Cyclical industry, placing it in the top 87%.
Is Tile Shop Holdings' Piotroski F-Score too high?
Tile Shop Holdings' current Piotroski F-Score of 3 is 50% below 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 Retail - Cyclical industry median Piotroski F-Score is 5.00. Tile Shop Holdings' value of 3 is 40% below this industry median. Based on the distribution chart, Tile Shop Holdings ranks #954 out of 1096 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Tile Shop Holdings has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does Tile Shop Holdings' Piotroski F-Score compare to LIVE and HVT?
According to the Retail - Cyclical industry distribution chart, Tile Shop Holdings ranks #954 out of 1096 companies for Piotroski F-Score. This places Tile Shop Holdings in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Tile Shop Holdings' value of 3 is 40% below this benchmark. Historically, Tile Shop Holdings' 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, Tile Shop Holdings 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 a Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 5.00, based on 1,096 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. Tile Shop Holdings's current Piotroski F-Score of 3 is 40% 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 Tile Shop Holdings and its competitors. For the Retail - Cyclical 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. Tile Shop Holdings's current Piotroski F-Score is 3, which is 50% below 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 Tile Shop Holdings stock overvalued right now?
Tile Shop Holdings (FRA:2TS0) has a current Piotroski F-Score of 3. The stock's GF Value™ is €5.92, compared to a current price of €2.93 — trading 50.6% below its estimated fair value. The current Piotroski F-Score is 3, which is 50% below median its 10-year median of 6.00 and 40% below the Retail - Cyclical industry median of 5.00. Tile Shop Holdings' overall GF Score™ is 44/100 with 5 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 Tile Shop Holdings (FRA:2TS0), the current Piotroski F-Score is 3 as of Jun. 29, 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 Tile Shop Holdings (FRA:2TS0) Overvalued in 2026?
Based on GuruFocus' analysis, Tile Shop Holdings stock appears to be undervalued.
The current stock price of €2.93 is trading 50.6% below its estimated GF Value™ of €5.92.
Key valuation signals for FRA:2TS0:
Piotroski F-Score: 3 (50% below median its 10-year median of 6.00)
GF Value™: €5.92 vs. price of €2.93 (50.6% below fair value)
Industry Position: 40% below the Retail - Cyclical median (#954 of 1096)
No single metric tells the full story. See the FRA:2TS0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tile Shop Holdings Inc is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. It manufactures its setting and maintenance materials, such as thinset, grout, and sealers. The company's primary market is retail sales to consumers, contractors, designers and home builders. Natural stone products include marble, travertine, granite, quartz, sandstone, slate, and onyx tiles. Man-made products include ceramic, porcelain, glass, cement, wood look, metal and luxury vinyl tile. The company earns majority of their revenue in the United States.
44GF Score
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