Western Asset Invstm Grd Dfnd Opp TrIGI -0.12%37 Piotroski F-Score is 3 as of Jun. 24, 2026, which is at its 10-year median of 3.00. GuruFocus rates IGI with a GF Scoreâ„¢ of 37/100. The stock has 4 warning signs investors should review. Among 1,601 Asset Management companies, Western Asset Invstm Grd Dfnd Opp Tr ranks worse than 78.01% 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
Western Asset Invstm Grd Dfnd Opp Tr has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Western Asset Invstm Grd Dfnd Opp Tr (NYSE:IGI) 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.
Western Asset Invstm Grd Dfnd Opp Tr Piotroski F-Score Related Terms
Western Asset Invstm Grd Dfnd Opp Tr Piotroski F-Score Historical Data
* 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.
Western Asset Invstm Grd Dfnd Opp Tr Piotroski F-Score Chart
IGI vs OCCI, RMI, RGT: Piotroski F-Score Comparison
For the Asset Management subindustry, Western Asset Invstm Grd Dfnd Opp Tr'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.
Western Asset Invstm Grd Dfnd Opp Tr Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Western Asset Invstm Grd Dfnd Opp Tr's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Western Asset Invstm Grd Dfnd Opp Tr'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.
Western Asset Invstm Grd Dfnd Opp Tr's current Net Income (TTM) was 6.00.
==> 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.
Western Asset Invstm Grd Dfnd Opp Tr's current Cash Flow from Operations (TTM) was 0.00.
==> 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.
Western Asset Invstm Grd Dfnd Opp Tr's return on assets of this year was 0.0559588. Western Asset Invstm Grd Dfnd Opp Tr's return on assets of last year was 0.08975227.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Western Asset Invstm Grd Dfnd Opp Tr's gearing of this year was 0. Western Asset Invstm Grd Dfnd Opp Tr's gearing of last year was 0.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Western Asset Invstm Grd Dfnd Opp Tr's current ratio of this year was 115.43103448. Western Asset Invstm Grd Dfnd Opp Tr's current ratio of last year was 56.86259947.
==> 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.
Western Asset Invstm Grd Dfnd Opp Tr's number of shares in issue this year was 5.998. Western Asset Invstm Grd Dfnd Opp Tr's number of shares in issue last year was 5.994.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Western Asset Invstm Grd Dfnd Opp Tr's net margin of this year was 0.95388041. Western Asset Invstm Grd Dfnd Opp Tr's net margin of last year was 0.98063267.
==> Last year's net 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
Western Asset Invstm Grd Dfnd Opp Tr's asset turnover of this year was 0.05866438. Western Asset Invstm Grd Dfnd Opp Tr's asset turnover of last year was 0.09152486.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Western Asset Invstm Grd Dfnd Opp Tr has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Western Asset Invstm Grd Dfnd Opp Tr (IGI) has a Piotroski F-Score of 3 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Western Asset Invstm Grd Dfnd Opp Tr and its competitors. This is near median its historical median of 3.00. Over the past decade, Western Asset Invstm Grd Dfnd Opp Tr's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, Western Asset Invstm Grd Dfnd Opp Tr ranks #1249 out of 1601 companies in the Asset Management industry, placing it in the top 78%.
Is Western Asset Invstm Grd Dfnd Opp Tr's Piotroski F-Score too high?
Western Asset Invstm Grd Dfnd Opp Tr's current Piotroski F-Score of 3 is near median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 6.00. The Asset Management industry median Piotroski F-Score is 5.00. Western Asset Invstm Grd Dfnd Opp Tr's value of 3 is 40% below this industry median. Based on the distribution chart, Western Asset Invstm Grd Dfnd Opp Tr ranks #1249 out of 1601 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Western Asset Invstm Grd Dfnd Opp Tr has a GF Scoreâ„¢ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Western Asset Invstm Grd Dfnd Opp Tr's Piotroski F-Score compare to OCCI and RMI?
According to the Asset Management industry distribution chart, Western Asset Invstm Grd Dfnd Opp Tr ranks #1249 out of 1601 companies for Piotroski F-Score. This places Western Asset Invstm Grd Dfnd Opp Tr in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Western Asset Invstm Grd Dfnd Opp Tr's value of 3 is 40% below this benchmark. Historically, Western Asset Invstm Grd Dfnd Opp Tr's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Western Asset Invstm Grd Dfnd Opp Tr 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,601 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. Western Asset Invstm Grd Dfnd Opp Tr's current Piotroski F-Score of 3 is 40% 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 Western Asset Invstm Grd Dfnd Opp Tr and its competitors. For the Asset Management 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. Western Asset Invstm Grd Dfnd Opp Tr's current Piotroski F-Score is 3, which is near median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Asset Invstm Grd Dfnd Opp Tr stock overvalued right now?
Western Asset Invstm Grd Dfnd Opp Tr (IGI) has a current Piotroski F-Score of 3. The current Piotroski F-Score is 3, which is near median its 10-year median of 3.00 and 40% below the Asset Management industry median of 5.00. Western Asset Invstm Grd Dfnd Opp Tr's overall GF Score™ is 37/100 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 Western Asset Invstm Grd Dfnd Opp Tr (IGI), the current Piotroski F-Score is 3 as of Jun. 24, 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.
Western Asset Invstm Grd Dfnd Opp Tr Business Description
Western Asset Invstm Grd Dfnd Opp Tr Inc operates as a non-diversified closed-end management investment company. Its primary investment objective is to provide current income and then liquidate & distribute substantially all of the Fund's net assets to stockholders. As a secondary investment objective, the Fund will seek capital appreciation. The Fund seeks to achieve its investment objectives by investing at least 80% of its net assets in investment-grade corporate fixed-income securities of varying maturities.
37GF Score
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