AdCapital AGFRA:ADC Piotroski F-Score is 4 as of Jun. 26, 2026, which is 20% below its 10-year median of 5.00. The stock has 5 warning signs investors should review. Among 1,597 Asset Management companies, AdCapital AG 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
AdCapital AG 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 AdCapital AG's Piotroski F-Score or its related term are showing as below:
FRA:ADC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 4
During the past 13 years, the highest Piotroski F-Score of AdCapital AG was 8. The lowest was 3. And the median was 5.
AdCapital AG (FRA:ADC) 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.
AdCapital AG Piotroski F-Score Related Terms
AdCapital AG Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for AdCapital AG'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:ADC vs BLK, BX, KKR: Piotroski F-Score Comparison
For the Asset Management subindustry, AdCapital AG'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.
AdCapital AG Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, AdCapital AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where AdCapital AG'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.
AdCapital AG's current Net Income (TTM) was -5.1.
==> 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.
AdCapital AG's return on assets of this year was -0.04509627. AdCapital AG's return on assets of last year was -0.02181796.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
AdCapital AG's gearing of this year was 0.07391579. AdCapital AG's gearing of last year was 0.06242069.
==> 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
AdCapital AG's current ratio of this year was 1.7813444. AdCapital AG's current ratio of last year was 1.91949518.
==> 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.
AdCapital AG's number of shares in issue this year was 13.942. AdCapital AG's number of shares in issue last year was 13.942.
==> 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.
AdCapital AG's gross margin of this year was 0.22420831. AdCapital AG's gross margin of last year was 0.2223669.
==> 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
AdCapital AG's asset turnover of this year was 1.41925607. AdCapital AG's asset turnover of last year was 1.45675669.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
AdCapital AG has an F-score of 4 indicating the company's financial situation is typical for a stable company.
AdCapital AG (FRA:ADC) has a Piotroski F-Score of 4 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on AdCapital AG and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, AdCapital AG's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, AdCapital AG ranks #907 out of 1597 companies in the Asset Management industry, placing it in the top 56.8%.
Is AdCapital AG's Piotroski F-Score too high?
AdCapital AG's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Asset Management industry median Piotroski F-Score is 5.00. AdCapital AG's value of 4 is 20% below this industry median. Based on the distribution chart, AdCapital AG ranks #907 out of 1597 companies in the Asset Management industry, which is below the industry midpoint.
How does AdCapital AG's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, AdCapital AG ranks #907 out of 1597 companies for Piotroski F-Score. This places AdCapital AG in the lower half of its industry. The industry median Piotroski F-Score is 5.00. AdCapital AG's value of 4 is 20% below this benchmark. Historically, AdCapital AG's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, AdCapital AG 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. AdCapital AG'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 AdCapital AG 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. AdCapital AG's current Piotroski F-Score is 4, which is 20% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AdCapital AG stock overvalued right now?
Based on GuruFocus' analysis, AdCapital AG (FRA:ADC) is currently considered Significantly Undervalued. The stock's GF Value™ is €1.47, compared to a current price of €0.00 — trading 99.8% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 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 AdCapital AG (FRA:ADC), the current Piotroski F-Score is 4 as of Jun. 26, 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.
AdCapital AG is an industrial holding company that invests in and manages companies in industries including electrical engineering, metal and plastic processing, machinery and tool manufacturing, and automotive sectors. Its portfolio includes subsidiaries: BDT Bavaria Digital Technik GmbH, Erich Jaeger GmbH + Co. KG, EW Hof Drives and Systems GmbH, FRAKO Kondensatoren- und Anlagenbau GmbH, KTS Kunststoff Technik Schmölln GmbH and Taller GmbH. The company generates maximum revenue through its subsidiary in the automotive industry. AdCapital's operations are geographically centered in Europe, particularly Germany.
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