Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ArcelorMittal South Africa 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 ArcelorMittal South Africa's Piotroski F-Score or its related term are showing as below:
FRA:ISC1'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 4
During the past 13 years, the highest Piotroski F-Score of ArcelorMittal South Africa was 7. The lowest was 2. And the median was 5.
ArcelorMittal South Africa (FRA:ISC1) 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.
ArcelorMittal South Africa Piotroski F-Score Related Terms
ArcelorMittal South Africa 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.
ArcelorMittal South Africa Piotroski F-Score Chart
FRA:ISC1 vs NUE, STLD, RS: Piotroski F-Score Comparison
For the Steel subindustry, ArcelorMittal South Africa'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.
ArcelorMittal South Africa Piotroski F-Score vs Steel Industry
For the Steel industry and Basic Materials sector, ArcelorMittal South Africa's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ArcelorMittal South Africa'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.
ArcelorMittal South Africa's current Net Income (TTM) was -147.
==> 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.
ArcelorMittal South Africa's current Cash Flow from Operations (TTM) was -1.
==> 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.
ArcelorMittal South Africa's return on assets of this year was -0.11253547. ArcelorMittal South Africa's return on assets of last year was -0.21365002.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ArcelorMittal South Africa's gearing of this year was 0.268682. ArcelorMittal South Africa's gearing of last year was 0.19884907.
==> 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
ArcelorMittal South Africa's current ratio of this year was 0.90151675. ArcelorMittal South Africa's current ratio of last year was 1.05284176.
==> 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.
ArcelorMittal South Africa's number of shares in issue this year was 1114.612. ArcelorMittal South Africa's number of shares in issue last year was 1114.612.
==> 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.
ArcelorMittal South Africa's gross margin of this year was 0.39648837. ArcelorMittal South Africa's gross margin of last year was 0.37731897.
==> 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
ArcelorMittal South Africa's asset turnover of this year was 1.25306522. ArcelorMittal South Africa's asset turnover of last year was 1.41223402.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ArcelorMittal South Africa has an F-score of 4 indicating the company's financial situation is typical for a stable company.
ArcelorMittal South Africa (FRA:ISC1) 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 ArcelorMittal South Africa and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, ArcelorMittal South Africa's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, ArcelorMittal South Africa ranks #393 out of 624 companies in the Steel industry, placing it in the top 63%.
Is ArcelorMittal South Africa's Piotroski F-Score too high?
ArcelorMittal South Africa'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 2.00 to a high of 7.00. The Steel industry median Piotroski F-Score is 5.00. ArcelorMittal South Africa's value of 4 is 20% below this industry median. Based on the distribution chart, ArcelorMittal South Africa ranks #393 out of 624 companies in the Steel industry, which is below the industry midpoint. Overall, ArcelorMittal South Africa has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.
How does ArcelorMittal South Africa's Piotroski F-Score compare to NUE and STLD?
According to the Steel industry distribution chart, ArcelorMittal South Africa ranks #393 out of 624 companies for Piotroski F-Score. This places ArcelorMittal South Africa in the lower half of its industry. The industry median Piotroski F-Score is 5.00. ArcelorMittal South Africa's value of 4 is 20% below this benchmark. Historically, ArcelorMittal South Africa's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, ArcelorMittal South Africa 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 Steel company?
The median Piotroski F-Score among Steel companies is 5.00, based on 624 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. ArcelorMittal South Africa'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 ArcelorMittal South Africa and its competitors. For the Steel 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. ArcelorMittal South Africa'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 ArcelorMittal South Africa stock overvalued right now?
ArcelorMittal South Africa (FRA:ISC1) has a current Piotroski F-Score of 4. The stock's GF Value™ is €0.07, compared to a current price of €0.06 — trading 12.1% 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 Steel industry median of 5.00. ArcelorMittal South Africa's overall GF Score™ is 54/100 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 ArcelorMittal South Africa (FRA:ISC1), 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.
Is ArcelorMittal South Africa (FRA:ISC1) Overvalued in 2026?
Based on GuruFocus' analysis, ArcelorMittal South Africa stock appears to be undervalued.
The current stock price of €0.06 is trading 12.1% below its estimated GF Value™ of €0.07.
Key valuation signals for FRA:ISC1:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: €0.07 vs. price of €0.06 (12.1% below fair value)
Industry Position: 20% below the Steel median (#393 of 624)
No single metric tells the full story. See the FRA:ISC1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ArcelorMittal South Africa Ltd is a South Africa-based steel-producing company. The company's operating segments include Steel operations; Non-steel operations; Corporate and others. It generates the majority of total revenue from the Steel Operations segment that consist of Vanderbijlpark plant, Newcastle plant, Vereeniging plant and ArcelorMittal Rail and Structures. The product range consists of hot-rolled coil, plate, coiled rounds, flats, reinforced bars, rounds, billets and channels, and commercial coke among others. The group operates mainly in South Africa. Export sales are mostly sold in sub-Saharan Africa, Asia, Europe, and America.
54GF Score
Get the complete analysis for FRA:ISC1
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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