Combined Motor HoldingsJSE:CMH -0.46%92 Piotroski F-Score is 7 as of Jul. 02, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates JSE:CMH with a GF Score™ of 92/100 and a GF Value™ of R38.80 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,288 Vehicles & Parts companies, Combined Motor Holdings ranks better than 89.21% 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
Combined Motor Holdings 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 Combined Motor Holdings's Piotroski F-Score or its related term are showing as below:
JSE:CMH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 7
Current: 7
During the past 13 years, the highest Piotroski F-Score of Combined Motor Holdings was 7. The lowest was 5. And the median was 6.
Combined Motor Holdings (JSE:CMH) 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.
Combined Motor Holdings Piotroski F-Score Related Terms
Combined Motor Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Combined Motor Holdings'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.
JSE:CMH vs CVNA, PAG, ALTB: Piotroski F-Score Comparison
For the Auto & Truck Dealerships subindustry, Combined Motor Holdings'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.
Combined Motor Holdings Piotroski F-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Combined Motor Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Combined Motor Holdings'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.
Combined Motor Holdings's current Net Income (TTM) was 391.
==> 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.
Combined Motor Holdings's current Cash Flow from Operations (TTM) was 910.
==> 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.
Combined Motor Holdings's return on assets of this year was 0.0714364. Combined Motor Holdings's return on assets of last year was 0.05814196.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Combined Motor Holdings's gearing of this year was 0.15504876. Combined Motor Holdings's gearing of last year was 0.16044636.
==> 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
Combined Motor Holdings's current ratio of this year was 1.07146594. Combined Motor Holdings's current ratio of last year was 1.09270264.
==> 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.
Combined Motor Holdings's number of shares in issue this year was 74.481. Combined Motor Holdings's number of shares in issue last year was 76.022.
==> 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.
Combined Motor Holdings's gross margin of this year was 0.17211682. Combined Motor Holdings's gross margin of last year was 0.18599903.
==> 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
Combined Motor Holdings's asset turnover of this year was 2.87085179. Combined Motor Holdings's asset turnover of last year was 2.5555364.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Combined Motor Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Combined Motor Holdings (JSE:CMH) has a Piotroski F-Score of 7 as of Jul. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Combined Motor Holdings and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Combined Motor Holdings' Piotroski F-Score has ranged from 5.00 to 7.00. According to the industry distribution chart, Combined Motor Holdings ranks #139 out of 1288 companies in the Vehicles & Parts industry, placing it in the top 10.8%.
Is Combined Motor Holdings' Piotroski F-Score too high?
Combined Motor Holdings' current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 7.00. The Vehicles & Parts industry median Piotroski F-Score is 5.00. Combined Motor Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Combined Motor Holdings ranks #139 out of 1288 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Combined Motor Holdings has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Combined Motor Holdings' Piotroski F-Score compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Combined Motor Holdings ranks #139 out of 1288 companies for Piotroski F-Score. This places Combined Motor Holdings in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Combined Motor Holdings' value of 7 is 40% above this benchmark. Historically, Combined Motor Holdings' own Piotroski F-Score has ranged from 5.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Combined Motor Holdings 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 Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 5.00, based on 1,288 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. Combined Motor Holdings'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 Combined Motor Holdings and its competitors. For the Vehicles & Parts 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. Combined Motor Holdings's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Combined Motor Holdings stock overvalued right now?
Based on GuruFocus' analysis, Combined Motor Holdings (JSE:CMH) is currently considered Fairly Valued. The stock's GF Value™ is R38.80, compared to a current price of R39.29 — trading 1.3% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Vehicles & Parts industry median of 5.00. Combined Motor Holdings' overall GF Score™ is 92/100 with 2 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 Combined Motor Holdings (JSE:CMH), the current Piotroski F-Score is 7 as of Jul. 02, 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 Combined Motor Holdings (JSE:CMH) Overvalued in 2026?
Based on GuruFocus' analysis, Combined Motor Holdings stock appears to be overvalued.
The current stock price of R39.29 is trading 1.3% above its estimated GF Value™ of R38.80.
GuruFocus considers Combined Motor Holdings to be Fairly Valued.
Key valuation signals for JSE:CMH:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: R38.80 vs. price of R39.29 (1.3% above fair value)
Industry Position: 40% above the Vehicles & Parts median (#139 of 1288)
No single metric tells the full story. See the JSE:CMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Combined Motor Holdings Ltd is a South Africa-based investment holding company engaged in motor retail and distribution, car hire, and financial services. The Company operates through four business segments: Motor Retail and Distribution, which generates maximum revenue and covers passenger, light commercial, and heavy commercial vehicles in both the volume and luxury categories; Car Hire, which offers a range of well-maintained vehicles for short- and long-term hire; Financial Services, which provides insurance underwriting facilities for products sold with new and used vehicles, including coverage for death, disability, dread disease, retrenchment, vehicle and component warranties, and vehicle financing through joint ventures with two finance houses; and Corporate Services and Other.
92GF Score
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