Troilus Mining (HAM:CM5) Piotroski F-Score: 3 (As of Jun. 27, 2026) — 50% Above Median


HAM:CM5 Troilus Mining Corp HAM:CM5
34 GF Score
Price €0.92
! 1 Warning Sign
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What is Troilus Mining Piotroski F-Score?

Troilus Mining HAM:CM5 34 Piotroski F-Score is 3 as of Jun. 27, 2026, which is 50% above its 10-year median of 2.00. GuruFocus rates HAM:CM5 with a GF Score™ of 34/100. The stock has 1 warning sign investors should review. Among 2,512 Metals & Mining companies, Troilus Mining ranks better than 59% on this metric.

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Troilus Mining has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

HAM:CM5' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 2   Max: 4
Current: 3

During the past 13 years, the highest Piotroski F-Score of Troilus Mining was 4. The lowest was 1. And the median was 2.

Troilus Mining  (HAM:CM5) 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.


Troilus Mining Piotroski F-Score Related Terms


Troilus Mining Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Troilus Mining'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.

Troilus Mining Piotroski F-Score Chart

Troilus Mining Annual Data
Trend Dec15 Dec16 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 2.00 3.00 1.00 1.00

Troilus Mining Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 0.00 1.00 2.00 3.00 3.00

Troilus Mining Piotroski F-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Troilus Mining'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.


Troilus Mining Piotroski F-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Troilus Mining's Piotroski F-Score distribution charts can be found below:

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


HAM:CM5
34GF Score
Troilus Mining Corp HAM:CM5
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Apr26) TTM:Last Year (Apr25) TTM:
Net Income was -9.988 + -9.138 + -9.117 + -15.211 = €-43.45 Mil.
Cash Flow from Operations was -6.512 + -10.277 + -10.304 + -13.461 = €-40.55 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was -0.024 + -0.023 + -0.023 + -0.023 = €-0.09 Mil.
Average Total Assets from the begining of this year (Apr25)
to the end of this year (Apr26) was
(23.079 + 27.833 + 24.618 + 106.839 + 103.528) / 5 = €57.1794 Mil.
Total Assets at the begining of this year (Apr25) was €23.08 Mil.
Long-Term Debt & Capital Lease Obligation was €0.72 Mil.
Total Current Assets was €94.37 Mil.
Total Current Liabilities was €8.73 Mil.
Net Income was -5.065 + -3.158 + -5.049 + -7.098 = €-20.37 Mil.

Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was -0.05 + -0.035 + -0.03 + -0.024 = €-0.14 Mil.
Average Total Assets from the begining of last year (Apr24)
to the end of last year (Apr25) was
(21.858 + 16.762 + 30.331 + 25.193 + 23.079) / 5 = €23.4446 Mil.
Total Assets at the begining of last year (Apr24) was €21.86 Mil.
Long-Term Debt & Capital Lease Obligation was €0.41 Mil.
Total Current Assets was €17.78 Mil.
Total Current Liabilities was €5.39 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.

Troilus Mining's current Net Income (TTM) was -43.45. ==> Negative ==> Score 0.

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.

Troilus Mining's current Cash Flow from Operations (TTM) was -40.55. ==> Negative ==> Score 0.

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 (Apr25)
=-43.454/23.079
=-1.88283721

ROA (Last Year)=Net Income/Total Assets (Apr24)
=-20.37/21.858
=-0.93192424

Troilus Mining's return on assets of this year was -1.88283721. Troilus Mining's return on assets of last year was -0.93192424. ==> Last year is higher ==> Score 0.

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.

Troilus Mining's current Net Income (TTM) was -43.45. Troilus Mining's current Cash Flow from Operations (TTM) was -40.55. ==> -40.55 > -43.45 ==> 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: Apr26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr25 to Apr26
=0.719/57.1794
=0.01257446

Gearing (Last Year: Apr25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr24 to Apr25
=0.41/23.4446
=0.01748804

Troilus Mining's gearing of this year was 0.01257446. Troilus Mining's gearing of last year was 0.01748804. ==> 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

Current Ratio (This Year: Apr26)=Total Current Assets/Total Current Liabilities
=94.371/8.733
=10.80625215

Current Ratio (Last Year: Apr25)=Total Current Assets/Total Current Liabilities
=17.775/5.387
=3.29961017

Troilus Mining's current ratio of this year was 10.80625215. Troilus Mining's current ratio of last year was 3.29961017. ==> 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.

Troilus Mining's number of shares in issue this year was 547.949. Troilus Mining's number of shares in issue last year was 381.783. ==> 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
=-0.093/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-0.139/0
=

Troilus Mining's gross margin of this year was . Troilus Mining's gross margin of last year was . ==> 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 (Apr25)
=0/23.079
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Apr24)
=0/21.858
=0

Troilus Mining's asset turnover of this year was 0. Troilus Mining's asset turnover of last year was 0. ==> 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
=0+0+0+1+1+1+0+0+0
=3

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

Troilus Mining has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Troilus Mining (HAM:CM5) has a Piotroski F-Score of 3 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Troilus Mining and its competitors. This is 50% above median its historical median of 2.00. Over the past decade, Troilus Mining's Piotroski F-Score has ranged from 1.00 to 4.00. According to the industry distribution chart, Troilus Mining ranks #1030 out of 2512 companies in the Metals & Mining industry, placing it in the top 41%.
Is Troilus Mining's Piotroski F-Score too high?
Troilus Mining's current Piotroski F-Score of 3 is 50% above median its 10-year median of 2.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 4.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Troilus Mining's value of 3 is 0% at this industry median. Based on the distribution chart, Troilus Mining ranks #1030 out of 2512 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Troilus Mining has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Troilus Mining's Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Troilus Mining ranks #1030 out of 2512 companies for Piotroski F-Score. This puts Troilus Mining in the upper half of its industry. The industry median Piotroski F-Score is 3.00. Troilus Mining's value of 3 is 0% at this benchmark. Historically, Troilus Mining's own Piotroski F-Score has ranged from 1.00 to 4.00 over the past decade. While the company's 10-year median is 2.00 vs. the industry median of 3.00, Troilus Mining 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,512 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. Troilus Mining's current Piotroski F-Score of 3 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 Troilus Mining and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Troilus Mining's current Piotroski F-Score is 3, which is 50% above median its own 10-year median of 2.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Troilus Mining stock overvalued right now?
Troilus Mining (HAM:CM5) has a current Piotroski F-Score of 3. The current Piotroski F-Score is 3, which is 50% above median its 10-year median of 2.00 and 0% at the Metals & Mining industry median of 3.00. Troilus Mining's overall GF Score™ is 34/100 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 Troilus Mining (HAM:CM5), the current Piotroski F-Score is 3 as of Jun. 27, 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.

Troilus Mining Business Description

Address 715 Square Victoria, Suite 705, Montreal, QC, CAN, H2Y 2H7
Troilus Mining Corp is a development stage mining company. The company focuses on developing gold and copper Troilus Project in north-central Quebec.
34GF Score

Get the complete analysis for HAM:CM5

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

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