MAX Automation SEFRA:MXHN -0.27%74 Piotroski F-Score is 3 as of Jun. 30, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates FRA:MXHN with a GF Score™ of 74/100 and a GF Value™ of €4.67 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 2,971 Industrial Products companies, MAX Automation SE ranks worse than 82.36% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
MAX Automation SE has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for MAX Automation SE's Piotroski F-Score or its related term are showing as below:
FRA:MXHN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of MAX Automation SE was 8. The lowest was 3. And the median was 5.
MAX Automation SE (FRA:MXHN) 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.
MAX Automation SE Piotroski F-Score Related Terms
MAX Automation SE Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for MAX Automation SE'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:MXHN vs GEV, ETN, PH: Piotroski F-Score Comparison
For the Specialty Industrial Machinery subindustry, MAX Automation SE'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.
MAX Automation SE Piotroski F-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, MAX Automation SE's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where MAX Automation SE'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.
MAX Automation SE's current Net Income (TTM) was -4.6.
==> 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.
MAX Automation SE's return on assets of this year was -0.01260989. MAX Automation SE's return on assets of last year was 0.15725752.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
MAX Automation SE's gearing of this year was 0.11192692. MAX Automation SE's gearing of last year was 0.16924072.
==> 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
MAX Automation SE's current ratio of this year was 1.69724595. MAX Automation SE's current ratio of last year was 2.09426571.
==> 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.
MAX Automation SE's number of shares in issue this year was 48.873. MAX Automation SE's number of shares in issue last year was 40.862.
==> There is larger number of shares in issue this year. ==> Score 0.
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.
MAX Automation SE's gross margin of this year was 0.53513523. MAX Automation SE's gross margin of last year was 0.53749495.
==> 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
MAX Automation SE's asset turnover of this year was 0.91965626. MAX Automation SE's asset turnover of last year was 0.95068835.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
MAX Automation SE has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
MAX Automation SE (FRA:MXHN) has a Piotroski F-Score of 3 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on MAX Automation SE and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, MAX Automation SE's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, MAX Automation SE ranks #2447 out of 2971 companies in the Industrial Products industry, placing it in the top 82.4%.
Is MAX Automation SE's Piotroski F-Score too high?
MAX Automation SE's current Piotroski F-Score of 3 is 40% below 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 Industrial Products industry median Piotroski F-Score is 5.00. MAX Automation SE's value of 3 is 40% below this industry median. Based on the distribution chart, MAX Automation SE ranks #2447 out of 2971 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, MAX Automation SE has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MAX Automation SE's Piotroski F-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, MAX Automation SE ranks #2447 out of 2971 companies for Piotroski F-Score. This places MAX Automation SE in the lower half of its industry. The industry median Piotroski F-Score is 5.00. MAX Automation SE's value of 3 is 40% below this benchmark. Historically, MAX Automation SE'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 5.00, MAX Automation SE 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 an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,971 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. MAX Automation SE's current Piotroski F-Score of 3 is 40% 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 MAX Automation SE and its competitors. For the Industrial Products 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. MAX Automation SE's current Piotroski F-Score is 3, which is 40% 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 MAX Automation SE stock overvalued right now?
Based on GuruFocus' analysis, MAX Automation SE (FRA:MXHN) is currently considered Modestly Undervalued. The stock's GF Value™ is €4.67, compared to a current price of €3.69 — trading 21% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Industrial Products industry median of 5.00. MAX Automation SE's overall GF Score™ is 74/100 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 MAX Automation SE (FRA:MXHN), the current Piotroski F-Score is 3 as of Jun. 30, 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 MAX Automation SE (FRA:MXHN) Overvalued in 2026?
Based on GuruFocus' analysis, MAX Automation SE stock appears to be undervalued.
The current stock price of €3.69 is trading 21% below its estimated GF Value™ of €4.67.
GuruFocus considers MAX Automation SE to be Modestly Undervalued.
Key valuation signals for FRA:MXHN:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: €4.67 vs. price of €3.69 (21% below fair value)
Industry Position: 40% below the Industrial Products median (#2447 of 2971)
No single metric tells the full story. See the FRA:MXHN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MAX Automation SE operates internationally as a high-tech mechanical engineering company and a full-service provider of integrated and complex system and component solutions. The business operations are divided into the segments BDTRONIC Group, Vecoplan Group, AIM Micro, NSM + Jucker, ELWEMA, and the Other segment, which includes the IWM companies. It derives the majority of the revenue from the Vecoplan Group segment that develops, manufactures and installs machines and plants for the shredding, conveying, and processing of primary and secondary raw materials, mainly for customers in the wood and recycling industry, the waste disposal industry, and the paper and plastics industry.
74GF Score
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