Cloudberry Clean Energy ASAFRA:52K +6.77%75 Piotroski F-Score is 6 as of Jun. 27, 2026, which is 50% above its 10-year median of 4.00. GuruFocus rates FRA:52K with a GF Score™ of 75/100 and a GF Value™ of €1.58 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 420 Utilities - Independent Power Producers companies, Cloudberry Clean Energy ASA ranks better than 80.95% 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
Cloudberry Clean Energy ASA 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 Cloudberry Clean Energy ASA's Piotroski F-Score or its related term are showing as below:
FRA:52K'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 6
During the past 8 years, the highest Piotroski F-Score of Cloudberry Clean Energy ASA was 6. The lowest was 2. And the median was 4.
Cloudberry Clean Energy ASA (FRA:52K) 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.
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.
Cloudberry Clean Energy ASA Piotroski F-Score Related Terms
Cloudberry Clean Energy ASA Piotroski F-Score Historical Data
* 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.
Cloudberry Clean Energy ASA Piotroski F-Score Chart
Cloudberry Clean Energy ASA Piotroski F-Score Competitor Comparison
For the Utilities - Renewable subindustry, Cloudberry Clean Energy ASA'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.
Cloudberry Clean Energy ASA Piotroski F-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Cloudberry Clean Energy ASA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Cloudberry Clean Energy ASA'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.
Cloudberry Clean Energy ASA's current Net Income (TTM) was 14.15.
==> Positive ==> Score 1.
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.
Cloudberry Clean Energy ASA's current Cash Flow from Operations (TTM) was 19.84.
==> 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.
Cloudberry Clean Energy ASA's return on assets of this year was 0.02236699. Cloudberry Clean Energy ASA's return on assets of last year was 0.01054747.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Cloudberry Clean Energy ASA's gearing of this year was 0.2266827. Cloudberry Clean Energy ASA's gearing of last year was 0.30385852.
==> 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
Cloudberry Clean Energy ASA's current ratio of this year was 0.5921417. Cloudberry Clean Energy ASA's current ratio of last year was 4.30832994.
==> 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.
Cloudberry Clean Energy ASA's number of shares in issue this year was 328.571. Cloudberry Clean Energy ASA's number of shares in issue last year was 283.333.
==> 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.
Cloudberry Clean Energy ASA's gross margin of this year was 0.89157146. Cloudberry Clean Energy ASA's gross margin of last year was 0.91526518.
==> 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
Cloudberry Clean Energy ASA's asset turnover of this year was 0.08068464. Cloudberry Clean Energy ASA's asset turnover of last year was 0.05585417.
==> 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
=
1
+
1
+
1
+
1
+
1
+
0
+
0
+
0
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Cloudberry Clean Energy ASA has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Cloudberry Clean Energy ASA (FRA:52K) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Cloudberry Clean Energy ASA and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, Cloudberry Clean Energy ASA's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Cloudberry Clean Energy ASA ranks #80 out of 420 companies in the Utilities - Independent Power Producers industry, placing it in the top 19%.
Is Cloudberry Clean Energy ASA's Piotroski F-Score too high?
Cloudberry Clean Energy ASA's current Piotroski F-Score of 6 is 50% above 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 6.00. The Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. Cloudberry Clean Energy ASA's value of 6 is 20% above this industry median. Based on the distribution chart, Cloudberry Clean Energy ASA ranks #80 out of 420 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Cloudberry Clean Energy ASA has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cloudberry Clean Energy ASA's Piotroski F-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Cloudberry Clean Energy ASA ranks #80 out of 420 companies for Piotroski F-Score. This places Cloudberry Clean Energy ASA in the top 19% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Cloudberry Clean Energy ASA's value of 6 is 20% above this benchmark. Historically, Cloudberry Clean Energy ASA's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Cloudberry Clean Energy ASA 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 an Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 420 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. Cloudberry Clean Energy ASA'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 Cloudberry Clean Energy ASA and its competitors. For the Utilities - Independent Power Producers 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. Cloudberry Clean Energy ASA's current Piotroski F-Score is 6, which is 50% above 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 Cloudberry Clean Energy ASA stock overvalued right now?
Based on GuruFocus' analysis, Cloudberry Clean Energy ASA (FRA:52K) is currently considered Possible Value Trap. The stock's GF Value™ is €1.58, compared to a current price of €1.01 — trading 36.1% below its estimated fair value. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Utilities - Independent Power Producers industry median of 5.00. Cloudberry Clean Energy ASA's overall GF Score™ is 75/100 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 Cloudberry Clean Energy ASA (FRA:52K), the current Piotroski F-Score is 6 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.
Is Cloudberry Clean Energy ASA (FRA:52K) Overvalued in 2026?
Based on GuruFocus' analysis, Cloudberry Clean Energy ASA stock appears to be undervalued.
The current stock price of €1.01 is trading 36.1% below its estimated GF Value™ of €1.58.
GuruFocus considers Cloudberry Clean Energy ASA to be Possible Value Trap.
Key valuation signals for FRA:52K:
Piotroski F-Score: 6 (50% above median its 10-year median of 4.00)
GF Value™: €1.58 vs. price of €1.01 (36.1% below fair value)
Industry Position: 20% above the Utilities - Independent Power Producers median (#80 of 420)
No single metric tells the full story. See the FRA:52K stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cloudberry Clean Energy ASA is an independent power producer, developing, owning and operating renewable assets in the Nordics. The company is focused on developing, owning, and operating hydropower plants, wind farms, BESS and solar plants across Norway, Sweden, and Denmark. The company has four segments: Projects, Commercial, Asset Management and Corporate. The majority of revenue is derived from the Commercial segment, which owns and manages renewable power assets with long-term cash flows in the Nordics. Geographically, it generates the maximum revenue from Denmark, followed by Norway and Sweden.
75GF Score
Get the complete analysis for FRA:52K
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:52K has been successfully added to your 
