Bechtle AGHAM:BC8 -1.17%77 Piotroski F-Score is 6 as of Jun. 26, 2026, which is at its 10-year median of 6.00. GuruFocus rates HAM:BC8 with a GF Score™ of 77/100 and a GF Value™ of €40.59 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,743 Software companies, Bechtle AG ranks better than 78.75% 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
Bechtle AG 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 Bechtle AG's Piotroski F-Score or its related term are showing as below:
HAM:BC8'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Bechtle AG was 8. The lowest was 4. And the median was 6.
Bechtle AG (HAM:BC8) 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.
Bechtle AG Piotroski F-Score Related Terms
Bechtle AG Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Bechtle AG'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.
HAM:BC8 vs IBM, ACN, FISV: Piotroski F-Score Comparison
For the Information Technology Services subindustry, Bechtle AG'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.
Bechtle AG Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Bechtle AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bechtle AG'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.
Bechtle AG's current Net Income (TTM) was 235.
==> 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.
Bechtle AG's return on assets of this year was 0.05717794. Bechtle AG's return on assets of last year was 0.06008671.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Bechtle AG's current ratio of this year was 1.55032794. Bechtle AG's current ratio of last year was 1.72280049.
==> 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.
Bechtle AG's number of shares in issue this year was 126. Bechtle AG's number of shares in issue last year was 126.
==> 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.
Bechtle AG's gross margin of this year was 0.18664814. Bechtle AG's gross margin of last year was 0.1803982.
==> 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
Bechtle AG's asset turnover of this year was 1.58297276. Bechtle AG's asset turnover of last year was 1.66624359.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
1
+
1
+
0
+
1
+
1
+
0
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bechtle AG has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Bechtle AG (HAM:BC8) has a Piotroski F-Score of 6 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bechtle AG and its competitors. This is near median its historical median of 6.00. Over the past decade, Bechtle AG's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Bechtle AG ranks #583 out of 2743 companies in the Software industry, placing it in the top 21.3%.
Is Bechtle AG's Piotroski F-Score too high?
Bechtle AG's current Piotroski F-Score of 6 is near 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 Software industry median Piotroski F-Score is 5.00. Bechtle AG's value of 6 is 20% above this industry median. Based on the distribution chart, Bechtle AG ranks #583 out of 2743 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Bechtle AG has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bechtle AG's Piotroski F-Score compare to IBM and ACN?
According to the Software industry distribution chart, Bechtle AG ranks #583 out of 2743 companies for Piotroski F-Score. This places Bechtle AG in the top 21% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Bechtle AG's value of 6 is 20% above this benchmark. Historically, Bechtle AG'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, Bechtle AG 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,743 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. Bechtle AG'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 Bechtle AG and its competitors. For the Software 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. Bechtle AG's current Piotroski F-Score is 6, which is near 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 Bechtle AG stock overvalued right now?
Based on GuruFocus' analysis, Bechtle AG (HAM:BC8) is currently considered Modestly Undervalued. The stock's GF Value™ is €40.59, compared to a current price of €30.50 — trading 24.9% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Software industry median of 5.00. Bechtle AG's overall GF Score™ is 77/100 with 2 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 Bechtle AG (HAM:BC8), the current Piotroski F-Score is 6 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 Bechtle AG (HAM:BC8) Overvalued in 2026?
Based on GuruFocus' analysis, Bechtle AG stock appears to be undervalued.
The current stock price of €30.50 is trading 24.9% below its estimated GF Value™ of €40.59.
GuruFocus considers Bechtle AG to be Modestly Undervalued.
Key valuation signals for HAM:BC8:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: €40.59 vs. price of €30.50 (24.9% below fair value)
Industry Position: 20% above the Software median (#583 of 2743)
No single metric tells the full story. See the HAM:BC8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bechtle AG is an information technology provider with operations in Germany, Austria, Switzerland, and other European countries. The company's customers are mainly in the industrial, trade, financial, and public sectors. The company operates through four reportable segments; Germany, France, Benelux, and Other Europe. It generates maximum of its revenue from the Germany segment. The company offers its customers IT hardware, software, solutions and services in 14 European countries, with Germany being the main market.
77GF Score
Get the complete analysis for HAM:BC8
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HAM:BC8 has been successfully added to your 
