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GFL EnvironmentalFRA:36E +0.56%63 Piotroski F-Score is 6 as of Aug. 04, 2026, which is at its 10-year median of 6.00. GuruFocus rates FRA:36E with a GF Score™ of 63/100 and a GF Value™ of €37.43 (Fairly Valued). The stock has 6 warning signs investors should review. Among 233 Waste Management companies, GFL Environmental ranks better than 73.82% 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
GFL Environmental has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for GFL Environmental's Piotroski F-Score or its related term are showing as below:
FRA:36E'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 6
During the past 10 years, the highest Piotroski F-Score of GFL Environmental was 8. The lowest was 2. 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.
GFL Environmental Piotroski F-Score Related Terms
GFL Environmental Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for GFL Environmental'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:36E vs CLH, CWST, ONT: Piotroski F-Score Comparison
For the Waste Management subindustry, GFL Environmental'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.
GFL Environmental Piotroski F-Score vs Waste Management Industry
For the Waste Management industry and Industrials sector, GFL Environmental's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where GFL Environmental'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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 70.394 + 20.986 + -135.992 + -98.836 = €-143 Mil. Cash Flow from Operations was 240.868 + 275.67 + 105.792 + 258.099 = €880 Mil. Revenue was 1043.414 + 1043.991 + 1036.361 + 1204.71 = €4,328 Mil. Gross Profit was 227.997 + 208.996 + 189.014 + 238.617 = €865 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(11752.265 + 11920.363 + 11944.981 + 13157.205 + 13315.58) / 5 = €12418.0788 Mil. Total Assets at the begining of this year (Jun25) was €11,752 Mil. Long-Term Debt & Capital Lease Obligation was €6,227 Mil. Total Current Assets was €898 Mil. Total Current Liabilities was €1,193 Mil.
Net Income was 73.432 + -126.757 + 2196.907 + 166.067 = €2,310 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.
GFL Environmental's current Net Income (TTM) was -143.
==> 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.
GFL Environmental's return on assets of this year was -0.01220599. GFL Environmental's return on assets of last year was 0.16805053.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
GFL Environmental's gearing of this year was 0.50143932. GFL Environmental's gearing of last year was 0.3399069.
==> 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
GFL Environmental's current ratio of this year was 0.75265649. GFL Environmental's current ratio of last year was 0.66620372.
==> 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.
GFL Environmental's number of shares in issue this year was 361.372. GFL Environmental's number of shares in issue last year was 383.212.
==> 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.
GFL Environmental's gross margin of this year was 0.19975252. GFL Environmental's gross margin of last year was 0.19710148.
==> 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
GFL Environmental's asset turnover of this year was 0.36830994. GFL Environmental's asset turnover of last year was 0.30230474.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
GFL Environmental has an F-score of 6 indicating the company's financial situation is typical for a stable company.
GFL Environmental (FRA:36E) has a Piotroski F-Score of 6 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on GFL Environmental and its competitors. This is near median its historical median of 6.00. Over the past decade, GFL Environmental's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, GFL Environmental ranks #61 out of 233 companies in the Waste Management industry, placing it in the top 26.2%.
Is GFL Environmental's Piotroski F-Score too high?
GFL Environmental's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Waste Management industry median Piotroski F-Score is 5.00. GFL Environmental's value of 6 is 20% above this industry median. Based on the distribution chart, GFL Environmental ranks #61 out of 233 companies in the Waste Management industry, which is above the industry midpoint. Overall, GFL Environmental has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GFL Environmental's Piotroski F-Score compare to CLH and CWST?
According to the Waste Management industry distribution chart, GFL Environmental ranks #61 out of 233 companies for Piotroski F-Score. This puts GFL Environmental in the upper half of its industry. The industry median Piotroski F-Score is 5.00. GFL Environmental's value of 6 is 20% above this benchmark. Historically, GFL Environmental's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, GFL Environmental 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 Waste Management company?
The median Piotroski F-Score among Waste Management companies is 5.00, based on 233 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. GFL Environmental's current Piotroski F-Score of 6 is 20% 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 GFL Environmental and its competitors. For the Waste 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. GFL Environmental's current Piotroski F-Score is 6, which is near 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 GFL Environmental stock overvalued right now?
Based on GuruFocus' analysis, GFL Environmental (FRA:36E) is currently considered Fairly Valued. The stock's GF Value™ is €37.43, compared to a current price of €36.20 — trading 3.3% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Waste Management industry median of 5.00. GFL Environmental's overall GF Score™ is 63/100 with 6 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 GFL Environmental (FRA:36E), the current Piotroski F-Score is 6 as of Aug. 04, 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 GFL Environmental (FRA:36E) Overvalued in 2026?
Based on GuruFocus' analysis, GFL Environmental stock appears to be undervalued.
The current stock price of €36.20 is trading 3.3% below its estimated GF Value™ of €37.43.
GuruFocus considers GFL Environmental to be Fairly Valued.
Key valuation signals for FRA:36E:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: €37.43 vs. price of €36.20 (3.3% below fair value)
Industry Position: 20% above the Waste Management median (#61 of 233)
No single metric tells the full story. See the FRA:36E stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GFL Environmental Inc is an environmental services company. Its offerings include non-hazardous solid waste management, infrastructure, soil remediation, and liquid waste management services. Its solid waste management business line, which generates the majority of the revenue, consists of the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste. Its Environmental Services business line includes liquid waste and soil remediation. The company's geographical segments are Canada and the United States. The company derives the majority of its revenue from the United States.
63GF Score
Get the complete analysis for FRA:36E
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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