FRLSY (Fourlis Holdings) Piotroski F-Score: 6 (As of Jun. 25, 2026) — 14% Below Median


What is Fourlis Holdings Piotroski F-Score?

Fourlis Holdings FRLSY 76 Piotroski F-Score is 6 as of Jun. 25, 2026, which is 14% below its 10-year median of 7.00. GuruFocus rates FRLSY with a GF Score™ of 76/100. The stock has 10 warning signs investors should review. Among 1,101 Retail - Cyclical companies, Fourlis Holdings ranks better than 73.02% 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

Fourlis Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Fourlis Holdings's Piotroski F-Score or its related term are showing as below:

FRLSY' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Fourlis Holdings was 8. The lowest was 4. And the median was 7.

Fourlis Holdings  (OTCPK:FRLSY) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Fourlis Holdings Piotroski F-Score Related Terms


Fourlis Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Fourlis Holdings'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.

Fourlis Holdings Piotroski F-Score Chart

Fourlis Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 8.00 5.00 5.00 6.00

Fourlis Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 0.00 5.00 0.00 6.00

FRLSY vs CASY, WSM, ULTA: Piotroski F-Score Comparison

For the Specialty Retail subindustry, Fourlis Holdings'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.


Fourlis Holdings Piotroski F-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Fourlis Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fourlis Holdings's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was $35.49 Mil.
Cash Flow from Operations was $37.30 Mil.
Revenue was $695.16 Mil.
Gross Profit was $328.57 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (1099.55 + 1068.664) / 2 = $1084.107 Mil.
Total Assets at the begining of this year (Dec24) was $1,099.55 Mil.
Long-Term Debt & Capital Lease Obligation was $539.86 Mil.
Total Current Assets was $242.61 Mil.
Total Current Liabilities was $263.47 Mil.
Net Income was $20.90 Mil.

Revenue was $554.65 Mil.
Gross Profit was $260.11 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (984.443 + 1099.55) / 2 = $1041.9965 Mil.
Total Assets at the begining of last year (Dec23) was $984.44 Mil.
Long-Term Debt & Capital Lease Obligation was $260.63 Mil.
Total Current Assets was $764.53 Mil.
Total Current Liabilities was $512.66 Mil.

*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.

Fourlis Holdings's current Net Income (TTM) was 35.49. ==> 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.

Fourlis Holdings's current Cash Flow from Operations (TTM) was 37.30. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec24)
=35.485/1099.55
=0.03227229

ROA (Last Year)=Net Income/Total Assets (Dec23)
=20.896/984.443
=0.02122622

Fourlis Holdings's return on assets of this year was 0.03227229. Fourlis Holdings's return on assets of last year was 0.02122622. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Fourlis Holdings's current Net Income (TTM) was 35.49. Fourlis Holdings's current Cash Flow from Operations (TTM) was 37.30. ==> 37.30 > 35.49 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=539.856/1084.107
=0.49797299

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=260.626/1041.9965
=0.25012176

Fourlis Holdings's gearing of this year was 0.49797299. Fourlis Holdings's gearing of last year was 0.25012176. ==> 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=242.614/263.465
=0.92085856

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=764.532/512.659
=1.49130709

Fourlis Holdings's current ratio of this year was 0.92085856. Fourlis Holdings's current ratio of last year was 1.49130709. ==> 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.

Fourlis Holdings's number of shares in issue this year was 12.981. Fourlis Holdings's number of shares in issue last year was 13.156. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=328.567/695.16
=0.47264946

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=260.112/554.651
=0.46896517

Fourlis Holdings's gross margin of this year was 0.47264946. Fourlis Holdings's gross margin of last year was 0.46896517. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=695.16/1099.55
=0.63222227

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=554.651/984.443
=0.56341606

Fourlis Holdings's asset turnover of this year was 0.63222227. Fourlis Holdings's asset turnover of last year was 0.56341606. ==> 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+1+1+0+0+1+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fourlis Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
Fourlis Holdings (FRLSY) has a Piotroski F-Score of 6 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Fourlis Holdings and its competitors. This is 14% below median its historical median of 7.00. Over the past decade, Fourlis Holdings' Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Fourlis Holdings ranks #297 out of 1101 companies in the Retail - Cyclical industry, placing it in the top 27%.
Is Fourlis Holdings' Piotroski F-Score too high?
Fourlis Holdings' current Piotroski F-Score of 6 is 14% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Fourlis Holdings' value of 6 is 20% above this industry median. Based on the distribution chart, Fourlis Holdings ranks #297 out of 1101 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Fourlis Holdings has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Fourlis Holdings' Piotroski F-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Fourlis Holdings ranks #297 out of 1101 companies for Piotroski F-Score. This puts Fourlis Holdings in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Fourlis Holdings' value of 6 is 20% above this benchmark. Historically, Fourlis Holdings' own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Fourlis Holdings 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 1,101 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. Fourlis Holdings'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 Fourlis Holdings 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. Fourlis Holdings's current Piotroski F-Score is 6, which is 14% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fourlis Holdings stock overvalued right now?
Fourlis Holdings (FRLSY) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 14% below median its 10-year median of 7.00 and 20% above the Retail - Cyclical industry median of 5.00. Fourlis Holdings' overall GF Score™ is 76/100 with 10 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 Fourlis Holdings (FRLSY), the current Piotroski F-Score is 6 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.

Fourlis Holdings Business Description

Address 25 Ermou Street, PO-14564, Kifissia, Athens, GRC, 14564
Fourlis Holdings SA operates in the retail sale of household equipment and furniture (IKEA stores) and in the retail sale of sport items (INTERSPORT & FOOT LOCKER stores). Its brands include IKEA, INTERSPORT, Foot Locker, and Holland & Barrett. The Group is active in the following two operating segments: Retail Trading of Home Furniture and Household Goods (IKEA stores) and Retail Trading of Sporting Goods (INTERSPORT and FOOT LOCKER stores).