NCAB Group ABFRA:XB1 -3.58%88 Piotroski F-Score is 5 as of Jun. 29, 2026, which is at its 10-year median of 5.00. GuruFocus rates FRA:XB1 with a GF Score™ of 88/100 and a GF Value™ of €5.83 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 2,432 Hardware companies, NCAB Group AB ranks better than 59.62% 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
NCAB Group AB 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 NCAB Group AB's Piotroski F-Score or its related term are showing as below:
FRA:XB1'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 7
Current: 5
During the past 11 years, the highest Piotroski F-Score of NCAB Group AB was 7. The lowest was 3. And the median was 5.
NCAB Group AB (FRA:XB1) 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.
NCAB Group AB Piotroski F-Score Related Terms
NCAB Group AB Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for NCAB Group AB'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.
For the Electronic Components subindustry, NCAB Group AB'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.
NCAB Group AB Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, NCAB Group AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where NCAB Group AB'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.
NCAB Group AB's current Net Income (TTM) was 21.0.
==> 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.
NCAB Group AB's return on assets of this year was 0.07070656. NCAB Group AB's return on assets of last year was 0.0633305.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
NCAB Group AB's gearing of this year was 0.32821833. NCAB Group AB's gearing of last year was 0.32018817.
==> Last year is lower than this year ==> Score 0.
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
NCAB Group AB's current ratio of this year was 1.82591515. NCAB Group AB's current ratio of last year was 1.82734407.
==> 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.
NCAB Group AB's number of shares in issue this year was 187.231. NCAB Group AB's number of shares in issue last year was 187.089.
==> 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.
NCAB Group AB's gross margin of this year was 0.34945653. NCAB Group AB's gross margin of last year was 0.36216418.
==> 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
NCAB Group AB's asset turnover of this year was 1.19278364. NCAB Group AB's asset turnover of last year was 1.0559461.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
NCAB Group AB has an F-score of 5 indicating the company's financial situation is typical for a stable company.
NCAB Group AB (FRA:XB1) has a Piotroski F-Score of 5 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on NCAB Group AB and its competitors. This is near median its historical median of 5.00. Over the past decade, NCAB Group AB's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, NCAB Group AB ranks #982 out of 2432 companies in the Hardware industry, placing it in the top 40.4%.
Is NCAB Group AB's Piotroski F-Score too high?
NCAB Group AB'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 3.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. NCAB Group AB's value of 5 is 0% at this industry median. Based on the distribution chart, NCAB Group AB ranks #982 out of 2432 companies in the Hardware industry, which is above the industry midpoint. Overall, NCAB Group AB has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NCAB Group AB's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, NCAB Group AB ranks #982 out of 2432 companies for Piotroski F-Score. This puts NCAB Group AB in the upper half of its industry. The industry median Piotroski F-Score is 5.00. NCAB Group AB's value of 5 is 0% at this benchmark. Historically, NCAB Group AB's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, NCAB Group AB has consistently been at 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,432 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. NCAB Group AB's current Piotroski F-Score of 5 is 0% at 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 NCAB Group AB and its competitors. For the Hardware 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. NCAB Group AB'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 NCAB Group AB stock overvalued right now?
Based on GuruFocus' analysis, NCAB Group AB (FRA:XB1) is currently considered Modestly Overvalued. The stock's GF Value™ is €5.83, compared to a current price of €7.28 — trading 24.9% above its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Hardware industry median of 5.00. NCAB Group AB's overall GF Score™ is 88/100 with 8 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 NCAB Group AB (FRA:XB1), the current Piotroski F-Score is 5 as of Jun. 29, 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 NCAB Group AB (FRA:XB1) Overvalued in 2026?
Based on GuruFocus' analysis, NCAB Group AB stock appears to be overvalued.
The current stock price of €7.28 is trading 24.9% above its estimated GF Value™ of €5.83.
GuruFocus considers NCAB Group AB to be Modestly Overvalued.
Key valuation signals for FRA:XB1:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: €5.83 vs. price of €7.28 (24.9% above fair value)
Industry Position: 0% at the Hardware median (#982 of 2432)
No single metric tells the full story. See the FRA:XB1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NCAB Group AB offers a broad range of printed circuit board (PCB) which, after receiving a customer order, are sourced from external manufacturers, predominantly located in China. It provides comprehensive services comprising design support, through prototyping, production and quality control. The operating activities are controlled in four segments; Nordic, Europe, East and North America. It generates key revenue from the Europe segment which includes the provision of a broad range of PCBs from the companies in the UK, Poland, France, Italy, Germany and Spain.
88GF Score
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