Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
KST Beteiligungs AG 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 KST Beteiligungs AG's Piotroski F-Score or its related term are showing as below:
FRA:KSW'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 6
Current: 6
During the past 13 years, the highest Piotroski F-Score of KST Beteiligungs AG was 6. The lowest was 2. And the median was 5.
KST Beteiligungs AG (FRA:KSW) 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.
KST Beteiligungs AG Piotroski F-Score Related Terms
KST Beteiligungs AG Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for KST Beteiligungs 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.
For the Conglomerates subindustry, KST Beteiligungs 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.
KST Beteiligungs AG Piotroski F-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, KST Beteiligungs AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where KST Beteiligungs 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.
KST Beteiligungs AG's current Net Income (TTM) was 0.49.
==> 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.
KST Beteiligungs AG's return on assets of this year was 0.06004192. KST Beteiligungs AG's return on assets of last year was 0.01721209.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
KST Beteiligungs AG's gearing of this year was 0. KST Beteiligungs AG's gearing of last year was 0.
==> 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
KST Beteiligungs AG's current ratio of this year was 0.82383916. KST Beteiligungs AG's current ratio of last year was 0.49618684.
==> This year's current ratio is higher. ==> Score 1.
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.
KST Beteiligungs AG's number of shares in issue this year was 4.874. KST Beteiligungs AG's number of shares in issue last year was 5.056.
==> 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.
KST Beteiligungs AG's gross margin of this year was 0.11050284. KST Beteiligungs AG's gross margin of last year was 0.09172632.
==> 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
KST Beteiligungs AG's asset turnover of this year was 0.60806312. KST Beteiligungs AG's asset turnover of last year was 0.68021742.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
KST Beteiligungs AG has an F-score of 6 indicating the company's financial situation is typical for a stable company.
KST Beteiligungs AG (FRA:KSW) has a Piotroski F-Score of 6 as of Jul. 08, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on KST Beteiligungs AG and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, KST Beteiligungs AG's Piotroski F-Score has ranged from 2.00 to 6.00.
Is KST Beteiligungs AG's Piotroski F-Score too high?
KST Beteiligungs AG's current Piotroski F-Score of 6 is 20% above 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 6.00. The Conglomerates industry median Piotroski F-Score is 5.00. KST Beteiligungs AG's value of 6 is 20% above this industry median. Overall, KST Beteiligungs AG has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does KST Beteiligungs AG's Piotroski F-Score compare to HON and MMM?
KST Beteiligungs AG's Piotroski F-Score of 6 can be compared against companies in the Conglomerates industry. The industry median Piotroski F-Score is 5.00. KST Beteiligungs AG's value of 6 is 20% above this benchmark. Historically, KST Beteiligungs AG'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 5.00 vs. the industry median of 5.00, KST Beteiligungs AG 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 a Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 5.00, based on 557 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. KST Beteiligungs AG'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 KST Beteiligungs AG and its competitors. For the Conglomerates 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. KST Beteiligungs AG's current Piotroski F-Score is 6, which is 20% above 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 KST Beteiligungs AG stock overvalued right now?
KST Beteiligungs AG (FRA:KSW) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Conglomerates industry median of 5.00. KST Beteiligungs AG's overall GF Score™ is 38/100 with 2 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 KST Beteiligungs AG (FRA:KSW), the current Piotroski F-Score is 6 as of Jul. 08, 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.
KST Beteiligungs AG invests across industries in listed companies in Germany, it focuses on small and mid caps. It acquires investments with long-term goals and assists its clients active throughout the investment period.
38GF Score
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