GVDBF (Givaudan) Piotroski F-Score: 4 (As of Jun. 26, 2026) — 33% Below Median


GVDBF Givaudan SA GVDBF
80 GF Score
Price $3,991.44
GF Value $4,477.20
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Givaudan Piotroski F-Score?

Givaudan GVDBF -5.73% 80 Piotroski F-Score is 4 as of Jun. 26, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates GVDBF with a GF Score™ of 80/100 and a GF Value™ of $4,477.20 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,567 Chemicals companies, Givaudan ranks worse than 64.9% 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

Givaudan has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

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

During the past 13 years, the highest Piotroski F-Score of Givaudan was 8. The lowest was 4. And the median was 6.

Givaudan  (OTCPK:GVDBF) 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.


Givaudan Piotroski F-Score Related Terms


Givaudan Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Givaudan'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.

Givaudan Piotroski F-Score Chart

Givaudan 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 8.00 5.00 6.00 7.00 4.00

Givaudan 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 6.00 0.00 7.00 0.00 4.00

GVDBF vs LIN, SHW, ECL: Piotroski F-Score Comparison

For the Specialty Chemicals subindustry, Givaudan'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.


Givaudan Piotroski F-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Givaudan's Piotroski F-Score distribution charts can be found below:

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


GVDBF
80GF Score
Givaudan SA GVDBF
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 $1,344 Mil.
Cash Flow from Operations was $1,897 Mil.
Revenue was $9,376 Mil.
Gross Profit was $4,081 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (13569.987 + 14887.69) / 2 = $14228.8385 Mil.
Total Assets at the begining of this year (Dec24) was $13,570 Mil.
Long-Term Debt & Capital Lease Obligation was $5,252 Mil.
Total Current Assets was $5,110 Mil.
Total Current Liabilities was $2,944 Mil.
Net Income was $1,223 Mil.

Revenue was $8,313 Mil.
Gross Profit was $3,669 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (12867.715 + 13569.987) / 2 = $13218.851 Mil.
Total Assets at the begining of last year (Dec23) was $12,868 Mil.
Long-Term Debt & Capital Lease Obligation was $4,410 Mil.
Total Current Assets was $4,723 Mil.
Total Current Liabilities was $3,177 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.

Givaudan's current Net Income (TTM) was 1,344. ==> 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.

Givaudan's current Cash Flow from Operations (TTM) was 1,897. ==> 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)
=1343.958/13569.987
=0.099039

ROA (Last Year)=Net Income/Total Assets (Dec23)
=1222.521/12867.715
=0.09500684

Givaudan's return on assets of this year was 0.099039. Givaudan's return on assets of last year was 0.09500684. ==> 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.

Givaudan's current Net Income (TTM) was 1,344. Givaudan's current Cash Flow from Operations (TTM) was 1,897. ==> 1,897 > 1,344 ==> 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
=5251.6/14228.8385
=0.36908143

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=4410.049/13218.851
=0.33361818

Givaudan's gearing of this year was 0.36908143. Givaudan's gearing of last year was 0.33361818. ==> 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
=5109.8/2943.908
=1.73572

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=4722.97/3177.434
=1.4864101

Givaudan's current ratio of this year was 1.73572. Givaudan's current ratio of last year was 1.4864101. ==> This year's current ratio is higher. ==> Score 1.

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.

Givaudan's number of shares in issue this year was 9.276. Givaudan's number of shares in issue last year was 9.267. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=4080.813/9376.333
=0.43522484

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3668.686/8313.145
=0.44131144

Givaudan's gross margin of this year was 0.43522484. Givaudan's gross margin of last year was 0.44131144. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=9376.333/13569.987
=0.69096109

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=8313.145/12867.715
=0.64604671

Givaudan's asset turnover of this year was 0.69096109. Givaudan's asset turnover of last year was 0.64604671. ==> 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+1+0+0+1
=6

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

Givaudan has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
Givaudan (GVDBF) has a Piotroski F-Score of 4 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Givaudan and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Givaudan's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Givaudan ranks #1017 out of 1567 companies in the Chemicals industry, placing it in the top 64.9%.
Is Givaudan's Piotroski F-Score too high?
Givaudan's current Piotroski F-Score of 4 is 33% below 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 8.00. The Chemicals industry median Piotroski F-Score is 5.00. Givaudan's value of 4 is 20% below this industry median. Based on the distribution chart, Givaudan ranks #1017 out of 1567 companies in the Chemicals industry, which is below the industry midpoint. Overall, Givaudan has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Givaudan's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Givaudan ranks #1017 out of 1567 companies for Piotroski F-Score. This places Givaudan in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Givaudan's value of 4 is 20% below this benchmark. Historically, Givaudan's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Givaudan 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,567 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. Givaudan's current Piotroski F-Score of 4 is 20% 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 Givaudan and its competitors. For the Chemicals 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. Givaudan's current Piotroski F-Score is 4, which is 33% below 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 Givaudan stock overvalued right now?
Based on GuruFocus' analysis, Givaudan (GVDBF) is currently considered Modestly Undervalued. The stock's GF Value™ is $4,477.20, compared to a current price of $3,991.44 — trading 10.8% below its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Chemicals industry median of 5.00. Givaudan's overall GF Score™ is 80/100 with 1 warning sign 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 Givaudan (GVDBF), the current Piotroski F-Score is 4 as of Jun. 26, 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 Givaudan (GVDBF) Overvalued in 2026?

Based on GuruFocus' analysis, Givaudan stock appears to be undervalued. The current stock price of $3,991.44 is trading 10.8% below its estimated GF Value™ of $4,477.20. GuruFocus considers Givaudan to be Modestly Undervalued.

Key valuation signals for GVDBF:

  • Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
  • GF Value™: $4,477.20 vs. price of $3,991.44 (10.8% below fair value)
  • GF Score™: 80/100 with 1 warning sign
  • Industry Position: 20% below the Chemicals median (#1017 of 1567)

No single metric tells the full story. See the GVDBF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Givaudan Business Description

Address Chemin de la Parfumerie 5, Vernier, CHE, 1214
Spun off from Roche in 2000, Givaudan is one of the world's leading flavor and fragrance manufacturers, with a presence in more than 80 countries. It sources more than 11,000 different ingredients from over 100 countries. The company serves end consumer markets with fragrances for personal, home, and laundry care brands, including prestige perfumes. In flavors, customers are in beverages, savory, snacks, sweet goods, and dairy. Givaudan has more than 17,000 employees, and its perfumery team is the largest in the industry.
80GF Score

Get the complete analysis for GVDBF

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$3,991.44
Price
$4,477.20
GF Value