Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Smartbroker Holding AG 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 Smartbroker Holding AG's Piotroski F-Score or its related term are showing as below:
HAM:SB1'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 7
During the past 13 years, the highest Piotroski F-Score of Smartbroker Holding AG was 7. The lowest was 2. And the median was 5.
Smartbroker Holding AG (HAM:SB1) 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.
Smartbroker Holding AG Piotroski F-Score Related Terms
Smartbroker Holding AG Piotroski F-Score Historical Data
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The historical data trend for Smartbroker Holding 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:SB1 vs SPGI, CME, ICE: Piotroski F-Score Comparison
For the Financial Data & Stock Exchanges subindustry, Smartbroker Holding 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.
Smartbroker Holding AG Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Smartbroker Holding AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Smartbroker Holding 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.
Smartbroker Holding AG's current Net Income (TTM) was -1.39.
==> 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.
Smartbroker Holding AG's current Cash Flow from Operations (TTM) was 9.99.
==> 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.
Smartbroker Holding AG's return on assets of this year was -0.02169622. Smartbroker Holding AG's return on assets of last year was -0.08081641.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Smartbroker Holding AG's gearing of this year was 0.04602274. Smartbroker Holding AG's gearing of last year was 0.08983153.
==> 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
Smartbroker Holding AG's current ratio of this year was 4.09214586. Smartbroker Holding AG's current ratio of last year was 2.27460236.
==> 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.
Smartbroker Holding AG's number of shares in issue this year was 16.781. Smartbroker Holding AG's number of shares in issue last year was 15.681.
==> 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.
Smartbroker Holding AG's gross margin of this year was 0.63630983. Smartbroker Holding AG's gross margin of last year was 0.61355266.
==> 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
Smartbroker Holding AG's asset turnover of this year was 0.8999624. Smartbroker Holding AG's asset turnover of last year was 0.65369997.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Smartbroker Holding AG has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Smartbroker Holding AG (HAM:SB1) has a Piotroski F-Score of 7 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Smartbroker Holding AG and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Smartbroker Holding AG's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Smartbroker Holding AG ranks #64 out of 782 companies in the Capital Markets industry, placing it in the top 8.2%.
Is Smartbroker Holding AG's Piotroski F-Score too high?
Smartbroker Holding AG's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Capital Markets industry median Piotroski F-Score is 5.00. Smartbroker Holding AG's value of 7 is 40% above this industry median. Based on the distribution chart, Smartbroker Holding AG ranks #64 out of 782 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Smartbroker Holding AG has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Smartbroker Holding AG's Piotroski F-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Smartbroker Holding AG ranks #64 out of 782 companies for Piotroski F-Score. This places Smartbroker Holding AG in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Smartbroker Holding AG's value of 7 is 40% above this benchmark. Historically, Smartbroker Holding AG's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Smartbroker Holding 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 Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 782 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. Smartbroker Holding AG's current Piotroski F-Score of 7 is 40% 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 Smartbroker Holding AG and its competitors. For the Capital Markets 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. Smartbroker Holding AG's current Piotroski F-Score is 7, which is 40% above 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 Smartbroker Holding AG stock overvalued right now?
Smartbroker Holding AG (HAM:SB1) has a current Piotroski F-Score of 7. The stock's GF Value™ is €10.78, compared to a current price of €10.20 — trading 5.4% below its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Capital Markets industry median of 5.00. Smartbroker Holding AG's overall GF Score™ is 82/100 with 3 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 Smartbroker Holding AG (HAM:SB1), the current Piotroski F-Score is 7 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.
Is Smartbroker Holding AG (HAM:SB1) Overvalued in 2026?
Based on GuruFocus' analysis, Smartbroker Holding AG stock appears to be undervalued.
The current stock price of €10.20 is trading 5.4% below its estimated GF Value™ of €10.78.
Key valuation signals for HAM:SB1:
Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
GF Value™: €10.78 vs. price of €10.20 (5.4% below fair value)
Industry Position: 40% above the Capital Markets median (#64 of 782)
No single metric tells the full story. See the HAM:SB1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smartbroker Holding AG operates as a trading portal. It offers information regarding market, economics and finance. The company also provides community news, commentary and analysis and security details to equities, commodities ETFs, funds and certificates.
82GF Score
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