Dunedinome Growth Inv Trust (LSE:DIG) Piotroski F-Score: 3 (As of Jun. 27, 2026) — 50% Below Median


LSE:DIG Dunedin Income Growth Inv Trust PLC LSE:DIG
58 GF Score
Price £2.98
GF Value £3.78
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Dunedinome Growth Inv Trust Piotroski F-Score?

Dunedinome Growth Inv Trust LSE:DIG -0.67% 58 Piotroski F-Score is 3 as of Jun. 27, 2026, which is 50% below its 10-year median of 6.00. GuruFocus rates LSE:DIG with a GF Score™ of 58/100 and a GF Value™ of £3.78 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,597 Asset Management companies, Dunedinome Growth Inv Trust ranks worse than 78.08% 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

Dunedinome Growth Inv Trust 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 Dunedinome Growth Inv Trust's Piotroski F-Score or its related term are showing as below:

LSE:DIG' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 7
Current: 3

During the past 13 years, the highest Piotroski F-Score of Dunedinome Growth Inv Trust was 7. The lowest was 3. And the median was 6.

Dunedinome Growth Inv Trust  (LSE:DIG) 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.


Dunedinome Growth Inv Trust Piotroski F-Score Related Terms


Dunedinome Growth Inv Trust Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Dunedinome Growth Inv Trust'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.

Dunedinome Growth Inv Trust Piotroski F-Score Chart

Dunedinome Growth Inv Trust Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 3.00 7.00 6.00 3.00

Dunedinome Growth Inv Trust Semi-Annual Data
Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24 Jul24 Jan25 Jul25 Jan26
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 7.00 0.00 6.00 0.00 3.00

LSE:DIG vs BLK, BX, KKR: Piotroski F-Score Comparison

For the Asset Management subindustry, Dunedinome Growth Inv Trust'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.


Dunedinome Growth Inv Trust Piotroski F-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Dunedinome Growth Inv Trust's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Dunedinome Growth Inv Trust's Piotroski F-Score falls into.


LSE:DIG
58GF Score
Dunedin Income Growth Inv Trust PLC LSE:DIG
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 (Jan26) TTM:Last Year (Jan25) TTM:
Net Income was £27.77 Mil.
Cash Flow from Operations was £16.66 Mil.
Revenue was £29.19 Mil.
Average Total Assets from the begining of this year (Jan25)
to the end of this year (Jan26) was (478.273 + 443.532) / 2 = £460.9025 Mil.
Total Assets at the begining of this year (Jan25) was £478.27 Mil.
Long-Term Debt & Capital Lease Obligation was £49.55 Mil.
Total Assets was £443.53 Mil.
Total Liabilities was £50.01 Mil.
Net Income was £33.93 Mil.

Revenue was £35.34 Mil.
Average Total Assets from the begining of last year (Jan24)
to the end of last year (Jan25) was (489.88 + 478.273) / 2 = £484.0765 Mil.
Total Assets at the begining of last year (Jan24) was £489.88 Mil.
Long-Term Debt & Capital Lease Obligation was £48.88 Mil.
Total Assets was £478.27 Mil.
Total Liabilities was £49.75 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.

Dunedinome Growth Inv Trust's current Net Income (TTM) was 27.77. ==> 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.

Dunedinome Growth Inv Trust's current Cash Flow from Operations (TTM) was 16.66. ==> 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 (Jan25)
=27.774/478.273
=0.05807144

ROA (Last Year)=Net Income/Total Assets (Jan24)
=33.928/489.88
=0.06925778

Dunedinome Growth Inv Trust's return on assets of this year was 0.05807144. Dunedinome Growth Inv Trust's return on assets of last year was 0.06925778. ==> Last year is higher ==> Score 0.

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.

Dunedinome Growth Inv Trust's current Net Income (TTM) was 27.77. Dunedinome Growth Inv Trust's current Cash Flow from Operations (TTM) was 16.66. ==> 16.66 <= 27.77 ==> CFROA <= ROA ==> Score 0.

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: Jan26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan25 to Jan26
=49.55/460.9025
=0.10750647

Gearing (Last Year: Jan25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan24 to Jan25
=48.879/484.0765
=0.10097371

Dunedinome Growth Inv Trust's gearing of this year was 0.10750647. Dunedinome Growth Inv Trust's gearing of last year was 0.10097371. ==> Last year is lower than this year ==> Score 0.

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.

Current Ratio (This Year: Jan26)=Total Assets/Total Liabilities
=443.532/50.006
=8.86957565

Current Ratio (Last Year: Jan25)=Total Assets/Total Liabilities
=478.273/49.745
=9.61449392

Dunedinome Growth Inv Trust's current ratio of this year was 8.86957565. Dunedinome Growth Inv Trust's current ratio of last year was 9.61449392. ==> 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.

Dunedinome Growth Inv Trust's number of shares in issue this year was 126.251. Dunedinome Growth Inv Trust's number of shares in issue last year was 141.968. ==> 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.

* 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.

Net Margin (This Year: TTM)=Net Income/Revenue
=27.774/29.192
=0.95142505

Net Margin (Last Year: TTM)=Net Income/Revenue
=33.928/35.343
=0.95996378

Dunedinome Growth Inv Trust's net margin of this year was 0.95142505. Dunedinome Growth Inv Trust's net margin of last year was 0.95996378. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jan25)
=29.192/478.273
=0.06103627

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan24)
=35.343/489.88
=0.07214624

Dunedinome Growth Inv Trust's asset turnover of this year was 0.06103627. Dunedinome Growth Inv Trust's asset turnover of last year was 0.07214624. ==> 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+0+0+0+0+1+0+0
=3

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

Dunedinome Growth Inv Trust has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Dunedinome Growth Inv Trust (LSE:DIG) has a Piotroski F-Score of 3 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Dunedinome Growth Inv Trust and its competitors. This is 50% below median its historical median of 6.00. Over the past decade, Dunedinome Growth Inv Trust's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Dunedinome Growth Inv Trust ranks #1247 out of 1597 companies in the Asset Management industry, placing it in the top 78.1%.
Is Dunedinome Growth Inv Trust's Piotroski F-Score too high?
Dunedinome Growth Inv Trust's current Piotroski F-Score of 3 is 50% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Asset Management industry median Piotroski F-Score is 5.00. Dunedinome Growth Inv Trust's value of 3 is 40% below this industry median. Based on the distribution chart, Dunedinome Growth Inv Trust ranks #1247 out of 1597 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Dunedinome Growth Inv Trust has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dunedinome Growth Inv Trust's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Dunedinome Growth Inv Trust ranks #1247 out of 1597 companies for Piotroski F-Score. This places Dunedinome Growth Inv Trust in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Dunedinome Growth Inv Trust's value of 3 is 40% below this benchmark. Historically, Dunedinome Growth Inv Trust's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Dunedinome Growth Inv Trust 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 1,597 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. Dunedinome Growth Inv Trust'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 Dunedinome Growth Inv Trust 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. Dunedinome Growth Inv Trust's current Piotroski F-Score is 3, which is 50% below 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 Dunedinome Growth Inv Trust stock overvalued right now?
Based on GuruFocus' analysis, Dunedinome Growth Inv Trust (LSE:DIG) is currently considered Modestly Undervalued. The stock's GF Value™ is £3.78, compared to a current price of £2.98 — trading 21.2% below its estimated fair value. The current Piotroski F-Score is 3, which is 50% below median its 10-year median of 6.00 and 40% below the Asset Management industry median of 5.00. Dunedinome Growth Inv Trust's overall GF Score™ is 58/100 with 5 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 Dunedinome Growth Inv Trust (LSE:DIG), the current Piotroski F-Score is 3 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 Dunedinome Growth Inv Trust (LSE:DIG) Overvalued in 2026?

Based on GuruFocus' analysis, Dunedinome Growth Inv Trust stock appears to be undervalued. The current stock price of £2.98 is trading 21.2% below its estimated GF Value™ of £3.78. GuruFocus considers Dunedinome Growth Inv Trust to be Modestly Undervalued.

Key valuation signals for LSE:DIG:

  • Piotroski F-Score: 3 (50% below median its 10-year median of 6.00)
  • GF Value™: £3.78 vs. price of £2.98 (21.2% below fair value)
  • GF Score™: 58/100 with 5 warning signs
  • Industry Position: 40% below the Asset Management median (#1247 of 1597)

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


Dunedinome Growth Inv Trust Business Description

Address 1 George Street, Edinburgh, GBR, EH2 2LL
Dunedin Income Growth Inv Trust PLC is a United Kingdom-based investment trust company. It aims to achieve growth of income and capital from a portfolio invested mainly in companies listed or quoted in the United Kingdom. The company has in its portfolio companies functioning in various sectors such as automobiles, beverages, food producers, oil and gas, healthcare, travel and leisure, utilities, and basic materials.
58GF Score

Get the complete analysis for LSE:DIG

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

£2.98
Price
£3.78
GF Value