Bath & Body WorksFRA:LTD0 -3.23%69 Piotroski F-Score is 6 as of Jul. 03, 2026, which is at its 10-year median of 6.00. GuruFocus rates FRA:LTD0 with a GF Score™ of 69/100 and a GF Value™ of €27.37 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,098 Retail - Cyclical companies, Bath & Body Works ranks better than 73.32% 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
Bath & Body Works 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 Bath & Body Works's Piotroski F-Score or its related term are showing as below:
FRA:LTD0'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Bath & Body Works was 8. The lowest was 3. And the median was 6.
Bath & Body Works (FRA:LTD0) 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.
Bath & Body Works Piotroski F-Score Related Terms
Bath & Body Works Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Bath & Body Works'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:LTD0 vs MNSO, RH, ASO: Piotroski F-Score Comparison
For the Specialty Retail subindustry, Bath & Body Works'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.
Bath & Body Works Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Bath & Body Works's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bath & Body Works'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.
Bath & Body Works's current Net Income (TTM) was 620.
==> 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.
Bath & Body Works's return on assets of this year was 0.14281679. Bath & Body Works's return on assets of last year was 0.1579335.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Bath & Body Works's gearing of this year was 0.90405091. Bath & Body Works's gearing of last year was 0.92286159.
==> 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
Bath & Body Works's current ratio of this year was 1.37908497. Bath & Body Works's current ratio of last year was 1.4064915.
==> 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.
Bath & Body Works's number of shares in issue this year was 202. Bath & Body Works's number of shares in issue last year was 215.
==> 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.
Bath & Body Works's gross margin of this year was 0.43181142. Bath & Body Works's gross margin of last year was 0.44582569.
==> 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
Bath & Body Works's asset turnover of this year was 1.42562723. Bath & Body Works's asset turnover of last year was 1.40661599.
==> 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
=
1
+
1
+
0
+
1
+
1
+
0
+
1
+
0
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bath & Body Works has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Bath & Body Works (FRA:LTD0) has a Piotroski F-Score of 6 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bath & Body Works and its competitors. This is near median its historical median of 6.00. Over the past decade, Bath & Body Works' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Bath & Body Works ranks #293 out of 1098 companies in the Retail - Cyclical industry, placing it in the top 26.7%.
Is Bath & Body Works' Piotroski F-Score too high?
Bath & Body Works' current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Bath & Body Works' value of 6 is 20% above this industry median. Based on the distribution chart, Bath & Body Works ranks #293 out of 1098 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Bath & Body Works has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bath & Body Works' Piotroski F-Score compare to MNSO and RH?
According to the Retail - Cyclical industry distribution chart, Bath & Body Works ranks #293 out of 1098 companies for Piotroski F-Score. This puts Bath & Body Works in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Bath & Body Works' value of 6 is 20% above this benchmark. Historically, Bath & Body Works' own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Bath & Body Works 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 5.00, based on 1,098 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. Bath & Body Works'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 Bath & Body Works and its competitors. For the Retail - Cyclical 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. Bath & Body Works's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bath & Body Works stock overvalued right now?
Based on GuruFocus' analysis, Bath & Body Works (FRA:LTD0) is currently considered Modestly Undervalued. The stock's GF Value™ is €27.37, compared to a current price of €19.47 — trading 28.9% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Retail - Cyclical industry median of 5.00. Bath & Body Works' overall GF Score™ is 69/100 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 Bath & Body Works (FRA:LTD0), the current Piotroski F-Score is 6 as of Jul. 03, 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 Bath & Body Works (FRA:LTD0) Overvalued in 2026?
Based on GuruFocus' analysis, Bath & Body Works stock appears to be undervalued.
The current stock price of €19.47 is trading 28.9% below its estimated GF Value™ of €27.37.
GuruFocus considers Bath & Body Works to be Modestly Undervalued.
Key valuation signals for FRA:LTD0:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: €27.37 vs. price of €19.47 (28.9% below fair value)
Industry Position: 20% above the Retail - Cyclical median (#293 of 1098)
No single metric tells the full story. See the FRA:LTD0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 4% of sales from international markets in fiscal 2025. For fiscal 2025, 77% of sales stemmed from the brick-and-mortar network of more than 1,900 retail stores, similar to 2024 levels, as consumer shopping patterns remained normal. Future growth is expected from store upgrades, digital and international channels, as well as adjacent category expansions like men's and lip.
69GF Score
Get the complete analysis for FRA:LTD0
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:LTD0 has been successfully added to your 
