Multitude AGFRA:MULT -0.36%70 Piotroski F-Score is 5 as of Jun. 25, 2026, which is at its 10-year median of 5.00. GuruFocus rates FRA:MULT with a GF Score™ of 70/100 and a GF Value™ of €5.12 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,497 Banks companies, Multitude AG ranks worse than 57.25% 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
Multitude AG 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 Multitude AG's Piotroski F-Score or its related term are showing as below:
FRA:MULT'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 7
Current: 5
During the past 12 years, the highest Piotroski F-Score of Multitude AG was 7. The lowest was 1. And the median was 5.
Multitude AG (FRA:MULT) 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.
Multitude AG Piotroski F-Score Related Terms
Multitude AG Piotroski F-Score Historical Data
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The historical data trend for Multitude 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.
FRA:MULT vs PNC, USB: Piotroski F-Score Comparison
For the Banks - Regional subindustry, Multitude 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.
Multitude AG Piotroski F-Score vs Banks Industry
For the Banks industry and Financial Services sector, Multitude AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Multitude 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.
Multitude AG's current Net Income (TTM) was 23.8.
==> 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.
Multitude AG's return on assets of this year was 0.01945537. Multitude AG's return on assets of last year was 0.02591722.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Multitude AG's gearing of this year was 0.08309568. Multitude AG's gearing of last year was 0.09788544.
==> 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
Multitude AG's current ratio of this year was 1.04358179. Multitude AG's current ratio of last year was 1.20106349.
==> 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.
Multitude AG's number of shares in issue this year was 22.341. Multitude AG's number of shares in issue last year was 22.461.
==> 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.
Multitude AG's gross margin of this year was 0.66805297. Multitude AG's gross margin of last year was 0.70822078.
==> 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
Multitude AG's asset turnover of this year was 0.19222243. Multitude AG's asset turnover of last year was 0.25904729.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Multitude AG has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Multitude AG (FRA:MULT) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Multitude AG and its competitors. This is near median its historical median of 5.00. Over the past decade, Multitude AG's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, Multitude AG ranks #857 out of 1497 companies in the Banks industry, placing it in the top 57.2%.
Is Multitude AG's Piotroski F-Score too high?
Multitude AG'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 Banks industry median Piotroski F-Score is 6.00. Multitude AG's value of 5 is 16.7% below this industry median. Based on the distribution chart, Multitude AG ranks #857 out of 1497 companies in the Banks industry, which is below the industry midpoint. Overall, Multitude AG has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Multitude AG's Piotroski F-Score compare to PNC and USB?
According to the Banks industry distribution chart, Multitude AG ranks #857 out of 1497 companies for Piotroski F-Score. This places Multitude AG in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Multitude AG's value of 5 is 16.7% below this benchmark. Historically, Multitude AG'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 6.00, Multitude AG 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 Banks company?
The median Piotroski F-Score among Banks companies is 6.00, based on 1,497 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. Multitude AG's current Piotroski F-Score of 5 is 16.7% 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 Multitude AG and its competitors. For the Banks 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. Multitude AG'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 Multitude AG stock overvalued right now?
Based on GuruFocus' analysis, Multitude AG (FRA:MULT) is currently considered Fairly Valued. The stock's GF Value™ is €5.12, compared to a current price of €5.60 — trading 9.4% above its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 16.7% below the Banks industry median of 6.00. Multitude AG's overall GF Score™ is 70/100 with 6 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 Multitude AG (FRA:MULT), the current Piotroski F-Score is 5 as of Jun. 25, 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 Multitude AG (FRA:MULT) Overvalued in 2026?
Based on GuruFocus' analysis, Multitude AG stock appears to be overvalued.
The current stock price of €5.60 is trading 9.4% above its estimated GF Value™ of €5.12.
GuruFocus considers Multitude AG to be Fairly Valued.
Key valuation signals for FRA:MULT:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: €5.12 vs. price of €5.60 (9.4% above fair value)
Industry Position: 16.7% below the Banks median (#857 of 1497)
No single metric tells the full story. See the FRA:MULT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Multitude AG is a fintech company providing digital financial and banking services to both individuals and businesses. Its reportable and operating segments are: Consumer Banking, SME Banking, and Wholesale Banking. Maximum revenue is derived from the Consumer Banking segment, which is operated under the Ferratum brand and offers digital consumer loans, credit lines, and credit card products. The SME Banking segment, which is operated under the CapitalBox brand, offers working capital and secured and non-secured lending solutions for small businesses, as well as other services such as invoice purchasing, and the Wholesale Banking, operated under the Multitude Bank brand, delivers lending and payment services to institutional clients, FinTechs, and payment service providers across Europe.
70GF Score
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