Usak Seramiknayii AS (IST:USAK) Piotroski F-Score: 7 (As of Jun. 27, 2026) — Near Median


IST:USAK Usak Seramik Sanayii AS IST:USAK
64 GF Score
Price ₺1.51
GF Value ₺2.38
Valuation Possible Value Trap
! 11 Warning Signs
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What is Usak Seramiknayii AS Piotroski F-Score?

Usak Seramiknayii AS IST:USAK -5.63% 64 Piotroski F-Score is 7 as of Jun. 27, 2026, which is at its 10-year median of 7.00. GuruFocus rates IST:USAK with a GF Score™ of 64/100 and a GF Value™ of ₺2.38 (Possible Value Trap). The stock has 11 warning signs investors should review. Among 1,735 Construction companies, Usak Seramiknayii AS ranks better than 89.39% 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

Usak Seramiknayii AS 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 Usak Seramiknayii AS's Piotroski F-Score or its related term are showing as below:

IST:USAK' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 7   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Usak Seramiknayii AS was 7. The lowest was 2. And the median was 7.

Usak Seramiknayii AS  (IST:USAK) 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.


Usak Seramiknayii AS Piotroski F-Score Related Terms


Usak Seramiknayii AS Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Usak Seramiknayii AS'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.

Usak Seramiknayii AS Piotroski F-Score Chart

Usak Seramiknayii AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 7.00 2.00 2.00 7.00

Usak Seramiknayii AS Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 2.00 N/A N/A 3.00 7.00

IST:USAK vs TT, JCI, CARR: Piotroski F-Score Comparison

For the Building Products & Equipment subindustry, Usak Seramiknayii AS'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.


Usak Seramiknayii AS Piotroski F-Score vs Construction Industry

For the Construction industry and Industrials sector, Usak Seramiknayii AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Usak Seramiknayii AS's Piotroski F-Score falls into.


IST:USAK
64GF Score
Usak Seramik Sanayii AS IST:USAK
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was -185.651 + 430.929 + -330.292 + 177.948 = ₺93 Mil.
Cash Flow from Operations was 222.53 + -435.041 + 278.42 + 81.002 = ₺147 Mil.
Revenue was 779.395 + 1162.678 + 1254.524 + 1371.831 = ₺4,568 Mil.
Gross Profit was 284.315 + 182.924 + 347.153 + 411.488 = ₺1,226 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(9504.711 + 8085.979 + 8671.546 + 9706.884 + 10778.085) / 5 = ₺9349.441 Mil.
Total Assets at the begining of this year (Dec24) was ₺9,505 Mil.
Long-Term Debt & Capital Lease Obligation was ₺116 Mil.
Total Current Assets was ₺4,895 Mil.
Total Current Liabilities was ₺5,412 Mil.
Net Income was -132.136 + -98.475 + -96.242 + 276.504 = ₺-50 Mil.

Revenue was 943.696 + 822.857 + 1039.987 + 1291.208 = ₺4,098 Mil.
Gross Profit was 52.104 + 268.885 + 145.759 + -331.573 = ₺135 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(6754.963 + 5334.221 + 5661.627 + 6330.441 + 9504.711) / 5 = ₺6717.1926 Mil.
Total Assets at the begining of last year (Dec23) was ₺6,755 Mil.
Long-Term Debt & Capital Lease Obligation was ₺149 Mil.
Total Current Assets was ₺4,511 Mil.
Total Current Liabilities was ₺4,644 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.

Usak Seramiknayii AS's current Net Income (TTM) was 93. ==> 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.

Usak Seramiknayii AS's current Cash Flow from Operations (TTM) was 147. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec24)
=92.934/9504.711
=0.00977768

ROA (Last Year)=Net Income/Total Assets (Dec23)
=-50.349/6754.963
=-0.00745363

Usak Seramiknayii AS's return on assets of this year was 0.00977768. Usak Seramiknayii AS's return on assets of last year was -0.00745363. ==> This year is higher. ==> Score 1.

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.

Usak Seramiknayii AS's current Net Income (TTM) was 93. Usak Seramiknayii AS's current Cash Flow from Operations (TTM) was 147. ==> 147 > 93 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=116.263/9349.441
=0.01243529

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=149.145/6717.1926
=0.02220347

Usak Seramiknayii AS's gearing of this year was 0.01243529. Usak Seramiknayii AS's gearing of last year was 0.02220347. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=4895.352/5411.945
=0.90454578

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=4510.969/4643.749
=0.97140672

Usak Seramiknayii AS's current ratio of this year was 0.90454578. Usak Seramiknayii AS's current ratio of last year was 0.97140672. ==> 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.

Usak Seramiknayii AS's number of shares in issue this year was 1821.795. Usak Seramiknayii AS's number of shares in issue last year was 1821.795. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1225.88/4568.428
=0.26833738

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=135.175/4097.748
=0.03298763

Usak Seramiknayii AS's gross margin of this year was 0.26833738. Usak Seramiknayii AS's gross margin of last year was 0.03298763. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=4568.428/9504.711
=0.48064881

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=4097.748/6754.963
=0.60662775

Usak Seramiknayii AS's asset turnover of this year was 0.48064881. Usak Seramiknayii AS's asset turnover of last year was 0.60662775. ==> 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+1+1+1+0+1+1+0
=7

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

Usak Seramiknayii AS has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Usak Seramiknayii AS (IST:USAK) 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 Usak Seramiknayii AS and its competitors. This is near median its historical median of 7.00. Over the past decade, Usak Seramiknayii AS's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Usak Seramiknayii AS ranks #184 out of 1735 companies in the Construction industry, placing it in the top 10.6%.
Is Usak Seramiknayii AS's Piotroski F-Score too high?
Usak Seramiknayii AS'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 2.00 to a high of 7.00. The Construction industry median Piotroski F-Score is 5.00. Usak Seramiknayii AS's value of 7 is 40% above this industry median. Based on the distribution chart, Usak Seramiknayii AS ranks #184 out of 1735 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Usak Seramiknayii AS has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Usak Seramiknayii AS's Piotroski F-Score compare to TT and JCI?
According to the Construction industry distribution chart, Usak Seramiknayii AS ranks #184 out of 1735 companies for Piotroski F-Score. This places Usak Seramiknayii AS in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Usak Seramiknayii AS's value of 7 is 40% above this benchmark. Historically, Usak Seramiknayii AS'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 7.00 vs. the industry median of 5.00, Usak Seramiknayii AS 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,735 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. Usak Seramiknayii AS'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 Usak Seramiknayii AS and its competitors. For the Construction 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. Usak Seramiknayii AS'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 Usak Seramiknayii AS stock overvalued right now?
Based on GuruFocus' analysis, Usak Seramiknayii AS (IST:USAK) is currently considered Possible Value Trap. The stock's GF Value™ is ₺2.38, compared to a current price of ₺1.51 — trading 36.6% below 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 Construction industry median of 5.00. Usak Seramiknayii AS's overall GF Score™ is 64/100 with 11 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 Usak Seramiknayii AS (IST:USAK), 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 Usak Seramiknayii AS (IST:USAK) Overvalued in 2026?

Based on GuruFocus' analysis, Usak Seramiknayii AS stock appears to be undervalued. The current stock price of ₺1.51 is trading 36.6% below its estimated GF Value™ of ₺2.38. GuruFocus considers Usak Seramiknayii AS to be Possible Value Trap.

Key valuation signals for IST:USAK:

  • Piotroski F-Score: 7 (near median its 10-year median of 7.00)
  • GF Value™: ₺2.38 vs. price of ₺1.51 (36.6% below fair value)
  • GF Score™: 64/100 with 11 warning signs
  • Industry Position: 40% above the Construction median (#184 of 1735)

No single metric tells the full story. See the IST:USAK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Usak Seramiknayii AS Business Description

Address Dilek Mahallesi De?irmenler Sokak No:100, Banaz, Istanbul, TUR, 64500
Usak Seramik Sanayii AS is a Turkey-based company engaged in the manufacture, sale and distribution of wall and floor ceramics and tiles, glazed porcelain tiles, decorative borders and panels for the construction industry. It also offers granite tiles, kerb, decor, Wall, Floor and Porcelain Tiles.
64GF Score

Get the complete analysis for IST:USAK

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

₺1.51
Price
₺2.38
GF Value