Associated British EngineeringLSE:ASBE 34 Piotroski F-Score is 3 as of Jun. 26, 2026, which is at its 10-year median of 3.00. GuruFocus rates LSE:ASBE with a GF Score™ of 34/100. The stock has 2 warning signs investors should review. Among 781 Capital Markets companies, Associated British Engineering ranks worse than 76.06% 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
Associated British Engineering has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Associated British Engineering's Piotroski F-Score or its related term are showing as below:
LSE:ASBE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 3 Max: 6
Current: 3
During the past 13 years, the highest Piotroski F-Score of Associated British Engineering was 6. The lowest was 2. And the median was 3.
Associated British Engineering (LSE:ASBE) 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.
Associated British Engineering Piotroski F-Score Related Terms
Associated British Engineering 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.
Associated British Engineering Piotroski F-Score Chart
LSE:ASBE vs MS, GS, SCHW: Piotroski F-Score Comparison
For the Capital Markets subindustry, Associated British Engineering'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.
Associated British Engineering Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Associated British Engineering's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Associated British Engineering'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.
Associated British Engineering's current Net Income (TTM) was -0.07.
==> Negative ==> Score 0.
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.
Associated British Engineering's current Cash Flow from Operations (TTM) was -0.06.
==> 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.
Associated British Engineering's return on assets of this year was -0.15550239. Associated British Engineering's return on assets of last year was -0.12969925.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Associated British Engineering's gearing of this year was 0. Associated British Engineering'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
Associated British Engineering's current ratio of this year was 5.76271186. Associated British Engineering's current ratio of last year was 7.78431373.
==> 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.
Associated British Engineering's number of shares in issue this year was 2.049. Associated British Engineering's number of shares in issue last year was 2.049.
==> 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.
Associated British Engineering's gross margin of this year was . Associated British Engineering's gross margin of last year was .
==> 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
Associated British Engineering's asset turnover of this year was 0. Associated British Engineering's asset turnover of last year was 0.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Associated British Engineering has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Associated British Engineering (LSE:ASBE) has a Piotroski F-Score of 3 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Associated British Engineering and its competitors. This is near median its historical median of 3.00. Over the past decade, Associated British Engineering's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Associated British Engineering ranks #594 out of 781 companies in the Capital Markets industry, placing it in the top 76.1%.
Is Associated British Engineering's Piotroski F-Score too high?
Associated British Engineering'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 2.00 to a high of 6.00. The Capital Markets industry median Piotroski F-Score is 5.00. Associated British Engineering's value of 3 is 40% below this industry median. Based on the distribution chart, Associated British Engineering ranks #594 out of 781 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Associated British Engineering has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Associated British Engineering's Piotroski F-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Associated British Engineering ranks #594 out of 781 companies for Piotroski F-Score. This places Associated British Engineering in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Associated British Engineering's value of 3 is 40% below this benchmark. Historically, Associated British Engineering's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Associated British Engineering 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 a Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 781 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. Associated British Engineering'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 Associated British Engineering and its competitors. For the Capital Markets 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. Associated British Engineering'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 Associated British Engineering stock overvalued right now?
Associated British Engineering (LSE:ASBE) 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 Capital Markets industry median of 5.00. Associated British Engineering's overall GF Score™ is 34/100 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 Associated British Engineering (LSE:ASBE), the current Piotroski F-Score is 3 as of Jun. 26, 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.
Associated British Engineering Business Description
Associated British Engineering Plc is a United Kingdom-based holding company. The Company's segments include Associated British Engineering Plc and Akoris Trading Limited. Akoris Trading Limited, its subsidiary, is a commodity and natural resource trading, finance, and investment company. Its operations are located in the United Kingdom.
34GF Score
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