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Eurohold Bulgaria ADFRA:KZ4 50 Piotroski F-Score is 7 as of Jul. 15, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates FRA:KZ4 with a GF Score™ of 50/100 and a GF Value™ of €1.79 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 490 Utilities - Regulated companies, Eurohold Bulgaria AD ranks better than 88.98% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Eurohold Bulgaria AD has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Eurohold Bulgaria AD's Piotroski F-Score or its related term are showing as below:
FRA:KZ4'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Eurohold Bulgaria AD was 8. The lowest was 3. And the median was 5.
Eurohold Bulgaria AD (FRA:KZ4) 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.
Eurohold Bulgaria AD Piotroski F-Score Related Terms
Eurohold Bulgaria AD Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Eurohold Bulgaria AD'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:KZ4 vs NEE, SO, DUK: Piotroski F-Score Comparison
For the Utilities - Regulated Electric subindustry, Eurohold Bulgaria AD'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.
Eurohold Bulgaria AD Piotroski F-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Eurohold Bulgaria AD's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Eurohold Bulgaria AD'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.
Eurohold Bulgaria AD's current Net Income (TTM) was 54.
==> 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.
Eurohold Bulgaria AD's return on assets of this year was 0.03690085. Eurohold Bulgaria AD's return on assets of last year was 0.0108646.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Eurohold Bulgaria AD's gearing of this year was 0.45914251. Eurohold Bulgaria AD's gearing of last year was 0.53526537.
==> 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
Eurohold Bulgaria AD's current ratio of this year was 1.35979186. Eurohold Bulgaria AD's current ratio of last year was 1.83568812.
==> 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.
Eurohold Bulgaria AD's number of shares in issue this year was 260.423. Eurohold Bulgaria AD's number of shares in issue last year was 260.423.
==> 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.
Eurohold Bulgaria AD's gross margin of this year was 0.17609661. Eurohold Bulgaria AD's gross margin of last year was 0.14962467.
==> 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
Eurohold Bulgaria AD's asset turnover of this year was 1.14225144. Eurohold Bulgaria AD's asset turnover of last year was 1.21382712.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Eurohold Bulgaria AD has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Eurohold Bulgaria AD (FRA:KZ4) has a Piotroski F-Score of 7 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Eurohold Bulgaria AD and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Eurohold Bulgaria AD's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Eurohold Bulgaria AD ranks #54 out of 490 companies in the Utilities - Regulated industry, placing it in the top 11%.
Is Eurohold Bulgaria AD's Piotroski F-Score too high?
Eurohold Bulgaria AD's current Piotroski F-Score of 7 is 40% above 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 Utilities - Regulated industry median Piotroski F-Score is 6.00. Eurohold Bulgaria AD's value of 7 is 16.7% above this industry median. Based on the distribution chart, Eurohold Bulgaria AD ranks #54 out of 490 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Eurohold Bulgaria AD has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Eurohold Bulgaria AD's Piotroski F-Score compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Eurohold Bulgaria AD ranks #54 out of 490 companies for Piotroski F-Score. This places Eurohold Bulgaria AD in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Eurohold Bulgaria AD's value of 7 is 16.7% above this benchmark. Historically, Eurohold Bulgaria AD'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 6.00, Eurohold Bulgaria AD 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 - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 490 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. Eurohold Bulgaria AD's current Piotroski F-Score of 7 is 16.7% 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 Eurohold Bulgaria AD and its competitors. For the Utilities - Regulated industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Eurohold Bulgaria AD's current Piotroski F-Score is 7, which is 40% 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 Eurohold Bulgaria AD stock overvalued right now?
Based on GuruFocus' analysis, Eurohold Bulgaria AD (FRA:KZ4) is currently considered Possible Value Trap. The stock's GF Value™ is €1.79, compared to a current price of €1.07 — trading 40.2% below its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 16.7% above the Utilities - Regulated industry median of 6.00. Eurohold Bulgaria AD's overall GF Score™ is 50/100 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 Eurohold Bulgaria AD (FRA:KZ4), the current Piotroski F-Score is 7 as of Jul. 15, 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 Eurohold Bulgaria AD (FRA:KZ4) Overvalued in 2026?
Based on GuruFocus' analysis, Eurohold Bulgaria AD stock appears to be undervalued.
The current stock price of €1.07 is trading 40.2% below its estimated GF Value™ of €1.79.
GuruFocus considers Eurohold Bulgaria AD to be Possible Value Trap.
Key valuation signals for FRA:KZ4:
Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
GF Value™: €1.79 vs. price of €1.07 (40.2% below fair value)
Industry Position: 16.7% above the Utilities - Regulated median (#54 of 490)
No single metric tells the full story. See the FRA:KZ4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Eurohold Bulgaria AD is a diversified group of companies operating in the fields of energy, insurance and financial services (investment intermediary and asset management). It provides the market with a full range of competitive products and services with future opportunities for rapid growth of the market shares of the companies in the group, optimization of costs, strengthening of competitiveness and increase of consolidated profit. Its segments include Energy consisting of sales of electricity; electricity transmission; electricity generation; information, communication, technological and other services; Insurance consisting of insurance services; and Financial services consisting of asset management and brokerage. It derives the majority of revenue from Energy segment.
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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