Heidelberg Materials AGHDLMY +1.27%78 Piotroski F-Score is 7 as of Jun. 25, 2026, which is at its 10-year median of 7.00. GuruFocus rates HDLMY with a GF Score™ of 78/100 and a GF Value™ of $24.63 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 395 Building Materials companies, Heidelberg Materials AG ranks better than 87.85% on this metric.
Good Sign:
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
Heidelberg Materials 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 Heidelberg Materials AG's Piotroski F-Score or its related term are showing as below:
HDLMY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of Heidelberg Materials AG was 9. The lowest was 5. And the median was 7.
Heidelberg Materials AG (OTCPK:HDLMY) 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.
Heidelberg Materials AG Piotroski F-Score Related Terms
Heidelberg Materials AG Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Heidelberg Materials 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.
HDLMY vs CRH, VMC, MLM: Piotroski F-Score Comparison
For the Building Materials subindustry, Heidelberg Materials 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.
Heidelberg Materials AG Piotroski F-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Heidelberg Materials AG's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Heidelberg Materials 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.
Heidelberg Materials AG's current Net Income (TTM) was 2,273.
==> 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.
Heidelberg Materials AG's current Cash Flow from Operations (TTM) was 3,811.
==> 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.
Heidelberg Materials AG's return on assets of this year was 0.05818621. Heidelberg Materials AG's return on assets of last year was 0.04823312.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Heidelberg Materials AG's gearing of this year was 0.19218454. Heidelberg Materials AG's gearing of last year was 0.17935129.
==> 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
Heidelberg Materials AG's current ratio of this year was 1.23585266. Heidelberg Materials AG's current ratio of last year was 1.26760985.
==> 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.
Heidelberg Materials AG's number of shares in issue this year was 888.4. Heidelberg Materials AG's number of shares in issue last year was 902.905.
==> 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.
Heidelberg Materials AG's gross margin of this year was 0.64207698. Heidelberg Materials AG's gross margin of last year was 0.63926757.
==> 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
Heidelberg Materials AG's asset turnover of this year was 0.64335494. Heidelberg Materials AG's asset turnover of last year was 0.5727013.
==> 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
Heidelberg Materials AG has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Heidelberg Materials AG (HDLMY) has a Piotroski F-Score of 7 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Heidelberg Materials AG and its competitors. This is near median its historical median of 7.00. Over the past decade, Heidelberg Materials AG's Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Heidelberg Materials AG ranks #48 out of 395 companies in the Building Materials industry, placing it in the top 12.2%.
Is Heidelberg Materials AG's Piotroski F-Score too high?
Heidelberg Materials AG's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 9.00. The Building Materials industry median Piotroski F-Score is 5.00. Heidelberg Materials AG's value of 7 is 40% above this industry median. Based on the distribution chart, Heidelberg Materials AG ranks #48 out of 395 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Heidelberg Materials AG has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Heidelberg Materials AG's Piotroski F-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Heidelberg Materials AG ranks #48 out of 395 companies for Piotroski F-Score. This places Heidelberg Materials AG in the top 12% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Heidelberg Materials AG's value of 7 is 40% above this benchmark. Historically, Heidelberg Materials AG's own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Heidelberg Materials 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 Building Materials company?
The median Piotroski F-Score among Building Materials companies is 5.00, based on 395 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. Heidelberg Materials 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 Heidelberg Materials AG and its competitors. For the Building Materials 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. Heidelberg Materials AG's current Piotroski F-Score is 7, which is near 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 Heidelberg Materials AG stock overvalued right now?
Based on GuruFocus' analysis, Heidelberg Materials AG (HDLMY) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.63, compared to a current price of $42.26 — trading 71.6% above its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 40% above the Building Materials industry median of 5.00. Heidelberg Materials AG's overall GF Score™ is 78/100 with 4 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 Heidelberg Materials AG (HDLMY), the current Piotroski F-Score is 7 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.
Is Heidelberg Materials AG (HDLMY) Overvalued in 2026?
Based on GuruFocus' analysis, Heidelberg Materials AG stock appears to be overvalued.
The current stock price of $42.26 is trading 71.6% above its estimated GF Value™ of $24.63.
GuruFocus considers Heidelberg Materials AG to be Significantly Overvalued.
Key valuation signals for HDLMY:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: $24.63 vs. price of $42.26 (71.6% above fair value)
Industry Position: 40% above the Building Materials median (#48 of 395)
No single metric tells the full story. See the HDLMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heidelberg Materials is one of the world's largest building materials companies, with operations in 60 countries. Its core activities include the production of cement and aggregates, which are used to construct houses, infrastructure, and commercial facilities. The sale of cement and aggregates accounts for the majority of group revenue and profits. Europe is the company's largest market contributing nearly half of group sales. Heidelberg Materials is listed in Germany and has 55,000 employees.
78GF Score
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