Andfjordlmon Group AS (FRA:50R) Piotroski F-Score: 3 (As of Jun. 27, 2026) — 50% Above Median


FRA:50R Andfjord Salmon Group AS FRA:50R
28 GF Score
Price €2.62
! 7 Warning Signs
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What is Andfjordlmon Group AS Piotroski F-Score?

Andfjordlmon Group AS FRA:50R +2.75% 28 Piotroski F-Score is 3 as of Jun. 27, 2026, which is 50% above its 10-year median of 2.00. GuruFocus rates FRA:50R with a GF Score™ of 28/100. The stock has 7 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, Andfjordlmon Group AS ranks worse than 84.82% 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

Andfjordlmon Group AS 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 Andfjordlmon Group AS's Piotroski F-Score or its related term are showing as below:

FRA:50R' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 2   Max: 6
Current: 3

During the past 9 years, the highest Piotroski F-Score of Andfjordlmon Group AS was 6. The lowest was 1. And the median was 2.

Andfjordlmon Group AS  (FRA:50R) 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.


Andfjordlmon Group AS Piotroski F-Score Related Terms


Andfjordlmon Group AS Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Andfjordlmon Group AS'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.

Andfjordlmon Group AS Piotroski F-Score Chart

Andfjordlmon Group AS Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 2.00 2.00 6.00 1.00 3.00

Andfjordlmon Group AS 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 1.00 3.00 N/A 3.00 3.00

FRA:50R vs ADM, BG, TSN: Piotroski F-Score Comparison

For the Farm Products subindustry, Andfjordlmon Group AS'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.


Andfjordlmon Group AS Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Andfjordlmon Group AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Andfjordlmon Group AS's Piotroski F-Score falls into.


FRA:50R
28GF Score
Andfjord Salmon Group AS FRA:50R
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 -2.311 + -3.877 + -4.588 + -2.142 = €-12.92 Mil.
Cash Flow from Operations was -3.285 + -2.148 + -8.061 + -5.981 = €-19.48 Mil.
Revenue was 0.076 + 0 + 0.054 + 0 = €0.13 Mil.
Gross Profit was -0.039 + -0.027 + 0.263 + 2.088 = €2.29 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(271.126 + 386.119 + 387.355 + 402.593 + 462.396) / 5 = €381.9178 Mil.
Total Assets at the begining of this year (Mar25) was €271.13 Mil.
Long-Term Debt & Capital Lease Obligation was €147.48 Mil.
Total Current Assets was €27.71 Mil.
Total Current Liabilities was €99.80 Mil.
Net Income was -1.644 + -1.298 + 1.89 + -1.562 = €-2.61 Mil.

Revenue was 0.007 + 0.004 + -0.059 + 0 = €-0.05 Mil.
Gross Profit was -0.003 + -0.002 + 0.049 + 0 = €0.04 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(100.092 + 156.414 + 0 + 204.058 + 271.126) / 5 = €182.9225 Mil.
Total Assets at the begining of last year (Mar24) was €100.09 Mil.
Long-Term Debt & Capital Lease Obligation was €72.43 Mil.
Total Current Assets was €17.63 Mil.
Total Current Liabilities was €42.12 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.

Andfjordlmon Group AS's current Net Income (TTM) was -12.92. ==> 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.

Andfjordlmon Group AS's current Cash Flow from Operations (TTM) was -19.48. ==> 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)
=-12.918/271.126
=-0.04764574

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-2.614/100.092
=-0.02611597

Andfjordlmon Group AS's return on assets of this year was -0.04764574. Andfjordlmon Group AS's return on assets of last year was -0.02611597. ==> Last year is higher ==> Score 0.

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.

Andfjordlmon Group AS's current Net Income (TTM) was -12.92. Andfjordlmon Group AS's current Cash Flow from Operations (TTM) was -19.48. ==> -19.48 <= -12.92 ==> CFROA <= ROA ==> Score 0.

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
=147.475/381.9178
=0.3861433

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=72.434/182.9225
=0.3959819

Andfjordlmon Group AS's gearing of this year was 0.3861433. Andfjordlmon Group AS's gearing of last year was 0.3959819. ==> 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
=27.706/99.798
=0.27762079

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=17.625/42.121
=0.41843736

Andfjordlmon Group AS's current ratio of this year was 0.27762079. Andfjordlmon Group AS's current ratio of last year was 0.41843736. ==> 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.

Andfjordlmon Group AS's number of shares in issue this year was 105.972. Andfjordlmon Group AS's number of shares in issue last year was 69.709. ==> 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
=2.285/0.13
=17.57692308

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.044/-0.048
=-0.91666667

Andfjordlmon Group AS's gross margin of this year was 17.57692308. Andfjordlmon Group AS's gross margin of last year was -0.91666667. ==> 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)
=0.13/271.126
=0.00047948

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=-0.048/100.092
=-0.00047956

Andfjordlmon Group AS's asset turnover of this year was 0.00047948. Andfjordlmon Group AS's asset turnover of last year was -0.00047956. ==> 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+0+0+0+1+0+0+1+1
=3

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

Andfjordlmon Group AS has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Andfjordlmon Group AS (FRA:50R) has a Piotroski F-Score of 3 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Andfjordlmon Group AS and its competitors. This is 50% above median its historical median of 2.00. Over the past decade, Andfjordlmon Group AS's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Andfjordlmon Group AS ranks #1621 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 84.8%.
Is Andfjordlmon Group AS's Piotroski F-Score too high?
Andfjordlmon Group AS's current Piotroski F-Score of 3 is 50% above median its 10-year median of 2.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Andfjordlmon Group AS's value of 3 is 40% below this industry median. Based on the distribution chart, Andfjordlmon Group AS ranks #1621 out of 1911 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Andfjordlmon Group AS has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does Andfjordlmon Group AS's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Andfjordlmon Group AS ranks #1621 out of 1911 companies for Piotroski F-Score. This places Andfjordlmon Group AS in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Andfjordlmon Group AS's value of 3 is 40% below this benchmark. Historically, Andfjordlmon Group AS's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 2.00 vs. the industry median of 5.00, Andfjordlmon Group AS 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,911 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. Andfjordlmon Group AS'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 Andfjordlmon Group AS and its competitors. For the Consumer Packaged Goods 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. Andfjordlmon Group AS's current Piotroski F-Score is 3, which is 50% above median its own 10-year median of 2.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Andfjordlmon Group AS stock overvalued right now?
Andfjordlmon Group AS (FRA:50R) has a current Piotroski F-Score of 3. The current Piotroski F-Score is 3, which is 50% above median its 10-year median of 2.00 and 40% below the Consumer Packaged Goods industry median of 5.00. Andfjordlmon Group AS's overall GF Score™ is 28/100 with 7 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 Andfjordlmon Group AS (FRA:50R), the current Piotroski F-Score is 3 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.

Andfjordlmon Group AS Business Description

Other Exchanges ANDF:Norway
Address Kvalnesveien 69, Dverberg, Andoy, NOR, 8485
Andfjord Salmon Group AS is a Norwegian company engaged in salmon farming. The company's farming facility is located on Andoya, the northernmost island in the Arctic Archipelago of Lofoten, Vesteralen. The company's business is to farm salmon for the purpose of selling to third parties when the fish has reached a mature state. The company operated one salmon pool facility. The facility uses a seawater flow-through system that avoids issues with salmon lice and poisonous algae, prevents salmon escapement, and at the same time contributes to reduced feed waste.
28GF Score

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