Kempower (FRA:D9C) Piotroski F-Score: 5 (As of Jun. 28, 2026) — Near Median


FRA:D9C Kempower Corp FRA:D9C
86 GF Score
Price €12.18
GF Value €17.84
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Kempower Piotroski F-Score?

Kempower FRA:D9C -0.41% 86 Piotroski F-Score is 5 as of Jun. 28, 2026, which is at its 10-year median of 5.00. GuruFocus rates FRA:D9C with a GF Score™ of 86/100 and a GF Value™ of €17.84 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 2,972 Industrial Products companies, Kempower ranks better than 56.43% 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

Kempower has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Kempower's Piotroski F-Score or its related term are showing as below:

FRA:D9C' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 5

During the past 8 years, the highest Piotroski F-Score of Kempower was 7. The lowest was 1. And the median was 5.

Kempower  (FRA:D9C) 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.


Kempower Piotroski F-Score Related Terms


Kempower Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Kempower'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.

Kempower Piotroski F-Score Chart

Kempower Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 7.00 1.00 5.00

Kempower Quarterly Data
Dec18 Dec19 Dec20 Sep21 Dec21 Jun22 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 N/A 3.00 N/A 5.00 5.00

FRA:D9C vs VRT, BE, NVT: Piotroski F-Score Comparison

For the Electrical Equipment & Parts subindustry, Kempower'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.


Kempower Piotroski F-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Kempower's Piotroski F-Score distribution charts can be found below:

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


FRA:D9C
86GF Score
Kempower Corp FRA:D9C
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 -2.7 + -0.2 + -3.3 + -3.7 = €-9.9 Mil.
Cash Flow from Operations was 4 + 3.9 + 3.1 + -1.1 = €9.9 Mil.
Revenue was 62.2 + 73.7 + 71.9 + 66.8 = €274.6 Mil.
Gross Profit was 33.5 + 35.6 + 35.3 + 32.3 = €136.7 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(224 + 236.2 + 248.9 + 246.818 + 248.9) / 5 = €240.9636 Mil.
Total Assets at the begining of this year (Mar25) was €224.0 Mil.
Long-Term Debt & Capital Lease Obligation was €15.9 Mil.
Total Current Assets was €180.1 Mil.
Total Current Liabilities was €128.5 Mil.
Net Income was -7.8 + -7.2 + 0.5 + -6.2 = €-20.7 Mil.

Revenue was 57.1 + 52.3 + 71.7 + 43.5 = €224.6 Mil.
Gross Profit was 27.5 + 28.7 + 37.5 + 23.2 = €116.9 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(234.5 + 232.7 + 220.8 + 230.824 + 224) / 5 = €228.5648 Mil.
Total Assets at the begining of last year (Mar24) was €234.5 Mil.
Long-Term Debt & Capital Lease Obligation was €23.6 Mil.
Total Current Assets was €156.7 Mil.
Total Current Liabilities was €85.4 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.

Kempower's current Net Income (TTM) was -9.9. ==> 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.

Kempower's current Cash Flow from Operations (TTM) was 9.9. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=-9.9/224
=-0.04419643

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-20.7/234.5
=-0.08827292

Kempower's return on assets of this year was -0.04419643. Kempower's return on assets of last year was -0.08827292. ==> This year is higher. ==> Score 1.

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.

Kempower's current Net Income (TTM) was -9.9. Kempower's current Cash Flow from Operations (TTM) was 9.9. ==> 9.9 > -9.9 ==> CFROA > ROA ==> Score 1.

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
=15.9/240.9636
=0.06598507

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=23.6/228.5648
=0.10325299

Kempower's gearing of this year was 0.06598507. Kempower's gearing of last year was 0.10325299. ==> 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
=180.1/128.5
=1.40155642

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=156.7/85.4
=1.83489461

Kempower's current ratio of this year was 1.40155642. Kempower's current ratio of last year was 1.83489461. ==> 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.

Kempower's number of shares in issue this year was 55.476. Kempower's number of shares in issue last year was 55.448. ==> 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
=136.7/274.6
=0.497815

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=116.9/224.6
=0.52048085

Kempower's gross margin of this year was 0.497815. Kempower's gross margin of last year was 0.52048085. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=274.6/224
=1.22589286

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=224.6/234.5
=0.95778252

Kempower's asset turnover of this year was 1.22589286. Kempower's asset turnover of last year was 0.95778252. ==> 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+1+1+1+1+0+0+0+1
=5

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

Kempower has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
Kempower (FRA:D9C) has a Piotroski F-Score of 5 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Kempower and its competitors. This is near median its historical median of 5.00. Over the past decade, Kempower's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, Kempower ranks #1295 out of 2972 companies in the Industrial Products industry, placing it in the top 43.6%.
Is Kempower's Piotroski F-Score too high?
Kempower's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Industrial Products industry median Piotroski F-Score is 5.00. Kempower's value of 5 is 0% at this industry median. Based on the distribution chart, Kempower ranks #1295 out of 2972 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Kempower has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kempower's Piotroski F-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Kempower ranks #1295 out of 2972 companies for Piotroski F-Score. This puts Kempower in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Kempower's value of 5 is 0% at this benchmark. Historically, Kempower's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Kempower has consistently been at 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 Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,972 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. Kempower's current Piotroski F-Score of 5 is 0% at 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 Kempower and its competitors. For the Industrial Products 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. Kempower's current Piotroski F-Score is 5, which is near 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 Kempower stock overvalued right now?
Based on GuruFocus' analysis, Kempower (FRA:D9C) is currently considered Modestly Undervalued. The stock's GF Value™ is €17.84, compared to a current price of €12.18 — trading 31.7% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Industrial Products industry median of 5.00. Kempower's overall GF Score™ is 86/100 with 4 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 Kempower (FRA:D9C), the current Piotroski F-Score is 5 as of Jun. 28, 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 Kempower (FRA:D9C) Overvalued in 2026?

Based on GuruFocus' analysis, Kempower stock appears to be undervalued. The current stock price of €12.18 is trading 31.7% below its estimated GF Value™ of €17.84. GuruFocus considers Kempower to be Modestly Undervalued.

Key valuation signals for FRA:D9C:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: €17.84 vs. price of €12.18 (31.7% below fair value)
  • GF Score™: 86/100 with 4 warning signs
  • Industry Position: 0% at the Industrial Products median (#1295 of 2972)

No single metric tells the full story. See the FRA:D9C stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kempower Business Description

Address Ala-Okeroistentie 29, Lahti, FIN, 15700
Kempower Corp designs, manufactures, and sells direct current fast charging devices, solutions, and services for electric vehicles (EVs), such as personal and commercial vehicles, mobile off-highway machinery, and electric marine vessels and boats. It offers a selection of solutions for all the fast-charging needs, ranging from public parking lots to bus depots and terminal stops, heavy-duty commercial vehicles and other electric vehicles, ports, and charging electric vessels and boats. Kempower's main geographical markets are the Nordics, Europe outside the Nordics, APAC and MEA (Asia Pacific and Middle East and Africa), and North America. The majority of its revenue is generated from Europe (excluding Nordics region).
86GF Score

Get the complete analysis for FRA:D9C

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€12.18
Price
€17.84
GF Value