CapitaLand Ascendas REITFRA:S3Z -0.55%75 Piotroski F-Score is 7 as of Jun. 30, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates FRA:S3Z with a GF Score™ of 75/100 and a GF Value™ of €1.89 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 890 REITs companies, CapitaLand Ascendas REIT ranks better than 92.25% 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
CapitaLand Ascendas REIT 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 CapitaLand Ascendas REIT's Piotroski F-Score or its related term are showing as below:
FRA:S3Z'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 7
Current: 7
During the past 13 years, the highest Piotroski F-Score of CapitaLand Ascendas REIT was 7. The lowest was 4. And the median was 6.
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.
CapitaLand Ascendas REIT Piotroski F-Score Related Terms
CapitaLand Ascendas REIT Piotroski F-Score Historical Data
* 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:S3Z vs PLD, PSA, EXR: Piotroski F-Score Comparison
For the REIT - Industrial subindustry, CapitaLand Ascendas REIT'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.
CapitaLand Ascendas REIT Piotroski F-Score vs REITs Industry
For the REITs industry and Real Estate sector, CapitaLand Ascendas REIT's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where CapitaLand Ascendas REIT'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.
CapitaLand Ascendas REIT's current Net Income (TTM) was 516.
==> 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.
Score 1 if positive, 0 if negative.
CapitaLand Ascendas REIT's current Cash Flow from Operations (TTM) was 707.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
CapitaLand Ascendas REIT's return on assets of this year was 0.03993125. CapitaLand Ascendas REIT's return on assets of last year was 0.04295731.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
CapitaLand Ascendas REIT's gearing of this year was 0.31381483. CapitaLand Ascendas REIT's gearing of last year was 0.34029256.
==> 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
CapitaLand Ascendas REIT's current ratio of this year was 0.16124614. CapitaLand Ascendas REIT's current ratio of last year was 0.23032706.
==> 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.
CapitaLand Ascendas REIT's number of shares in issue this year was 4519.151. CapitaLand Ascendas REIT's number of shares in issue last year was 4395.569.
==> 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.
CapitaLand Ascendas REIT's gross margin of this year was 0.6938636. CapitaLand Ascendas REIT's gross margin of last year was 0.68935888.
==> 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
CapitaLand Ascendas REIT's asset turnover of this year was 0.0787943. CapitaLand Ascendas REIT's asset turnover of last year was 0.08562407.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CapitaLand Ascendas REIT has an F-score of 5 indicating the company's financial situation is typical for a stable company.
CapitaLand Ascendas REIT (FRA:S3Z) has a Piotroski F-Score of 7 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on CapitaLand Ascendas REIT and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, CapitaLand Ascendas REIT's Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, CapitaLand Ascendas REIT ranks #69 out of 890 companies in the REITs industry, placing it in the top 7.8%.
Is CapitaLand Ascendas REIT's Piotroski F-Score too high?
CapitaLand Ascendas REIT's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 7.00. The REITs industry median Piotroski F-Score is 6.00. CapitaLand Ascendas REIT's value of 7 is 16.7% above this industry median. Based on the distribution chart, CapitaLand Ascendas REIT ranks #69 out of 890 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, CapitaLand Ascendas REIT has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CapitaLand Ascendas REIT's Piotroski F-Score compare to PLD and PSA?
According to the REITs industry distribution chart, CapitaLand Ascendas REIT ranks #69 out of 890 companies for Piotroski F-Score. This places CapitaLand Ascendas REIT in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. CapitaLand Ascendas REIT's value of 7 is 16.7% above this benchmark. Historically, CapitaLand Ascendas REIT's own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, CapitaLand Ascendas REIT 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 REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 890 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. CapitaLand Ascendas REIT'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 CapitaLand Ascendas REIT and its competitors. For the REITs 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. CapitaLand Ascendas REIT's current Piotroski F-Score is 7, which is 17% above 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 CapitaLand Ascendas REIT stock overvalued right now?
Based on GuruFocus' analysis, CapitaLand Ascendas REIT (FRA:S3Z) is currently considered Modestly Undervalued. The stock's GF Value™ is €1.89, compared to a current price of €1.69 — trading 10.6% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 16.7% above the REITs industry median of 6.00. CapitaLand Ascendas REIT's overall GF Score™ is 75/100 with 9 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 CapitaLand Ascendas REIT (FRA:S3Z), the current Piotroski F-Score is 7 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 CapitaLand Ascendas REIT (FRA:S3Z) Overvalued in 2026?
Based on GuruFocus' analysis, CapitaLand Ascendas REIT stock appears to be undervalued.
The current stock price of €1.69 is trading 10.6% below its estimated GF Value™ of €1.89.
GuruFocus considers CapitaLand Ascendas REIT to be Modestly Undervalued.
Key valuation signals for FRA:S3Z:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: €1.89 vs. price of €1.69 (10.6% below fair value)
Industry Position: 16.7% above the REITs median (#69 of 890)
No single metric tells the full story. See the FRA:S3Z stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CapitaLand Ascendas REIT is a real estate investment trust focusing on the industrial and business space. As of Dec. 31, 2025, it held a SGD 18.2 billion portfolio of 222 properties across Singapore, Australia, Europe, and the US. The property types encompass business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers. The trust is externally managed by Ascendas Funds Management, a subsidiary of CapitaLand Investment, which owns a 17.5% stake in the trust.
75GF Score
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