ISA HoldingsJSE:ISA +4.48%88 Piotroski F-Score is 6 as of Jul. 01, 2026, which is at its 10-year median of 6.00. GuruFocus rates JSE:ISA with a GF Score™ of 88/100 and a GF Value™ of R2.23 (Fairly Valued). The stock has 3 warning signs investors should review. Among 2,738 Software companies, ISA Holdings ranks better than 78.71% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ISA Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for ISA Holdings's Piotroski F-Score or its related term are showing as below:
JSE:ISA'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of ISA Holdings was 8. The lowest was 5. And the median was 6.
ISA Holdings (JSE:ISA) 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.
ISA Holdings Piotroski F-Score Related Terms
ISA Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for ISA 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:ISA vs MSFT, ORCL, PLTR: Piotroski F-Score Comparison
For the Software - Infrastructure subindustry, ISA 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.
ISA Holdings Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, ISA Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ISA 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.
ISA Holdings's current Net Income (TTM) was 28.6.
==> 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.
ISA Holdings's return on assets of this year was 0.28811235. ISA Holdings's return on assets of last year was 0.30137541.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ISA Holdings's current ratio of this year was 2.55298756. ISA Holdings's current ratio of last year was 1.99059099.
==> 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.
ISA Holdings's number of shares in issue this year was 155.996. ISA Holdings's number of shares in issue last year was 155.996.
==> 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.
ISA Holdings's gross margin of this year was 0.50173982. ISA Holdings's gross margin of last year was 0.47646554.
==> 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
ISA Holdings's asset turnover of this year was 1.28935244. ISA Holdings's asset turnover of last year was 1.3617708.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ISA Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
ISA Holdings (JSE:ISA) has a Piotroski F-Score of 6 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ISA Holdings and its competitors. This is near median its historical median of 6.00. Over the past decade, ISA Holdings' Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, ISA Holdings ranks #583 out of 2738 companies in the Software industry, placing it in the top 21.3%.
Is ISA Holdings' Piotroski F-Score too high?
ISA Holdings' current Piotroski F-Score of 6 is near 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 8.00. The Software industry median Piotroski F-Score is 5.00. ISA Holdings' value of 6 is 20% above this industry median. Based on the distribution chart, ISA Holdings ranks #583 out of 2738 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, ISA Holdings has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ISA Holdings' Piotroski F-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, ISA Holdings ranks #583 out of 2738 companies for Piotroski F-Score. This places ISA Holdings in the top 21% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. ISA Holdings' value of 6 is 20% above this benchmark. Historically, ISA Holdings' own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, ISA 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,738 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. ISA Holdings's current Piotroski F-Score of 6 is 20% 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 ISA Holdings and its competitors. For the Software 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. ISA Holdings's current Piotroski F-Score is 6, which is near 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 ISA Holdings stock overvalued right now?
Based on GuruFocus' analysis, ISA Holdings (JSE:ISA) is currently considered Fairly Valued. The stock's GF Value™ is R2.23, compared to a current price of R2.10 — trading 5.8% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Software industry median of 5.00. ISA Holdings' overall GF Score™ is 88/100 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 ISA Holdings (JSE:ISA), the current Piotroski F-Score is 6 as of Jul. 01, 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 ISA Holdings (JSE:ISA) Overvalued in 2026?
Based on GuruFocus' analysis, ISA Holdings stock appears to be undervalued.
The current stock price of R2.10 is trading 5.8% below its estimated GF Value™ of R2.23.
GuruFocus considers ISA Holdings to be Fairly Valued.
Key valuation signals for JSE:ISA:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: R2.23 vs. price of R2.10 (5.8% below fair value)
Industry Position: 20% above the Software median (#583 of 2738)
No single metric tells the full story. See the JSE:ISA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ISA Holdings Ltd is an investment holding company. The company, through its subsidiary, provides network, Internet, and information security solutions to the sub-Saharan African market. Its business is to discover, design, deliver, deploy, and manage its bespoke Information and Communication Technology (ICT) security infrastructure. Its technology offerings include firewalls, anti-virus, authentication, remote access, content security, intrusion protection, virtual private networking, vulnerability assessment, messaging and data protection, and identity and access management. The company generates a majority of its revenue from its business in South Africa.
88GF Score
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