DSW Capital (LSE:DSW) Piotroski F-Score: 5 (As of Jun. 27, 2026) — Near Median


LSE:DSW DSW Capital PLC LSE:DSW
79 GF Score
Price £0.43
GF Value £1.32
Valuation Significantly Undervalued
! 5 Warning Signs
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What is DSW Capital Piotroski F-Score?

DSW Capital LSE:DSW 79 Piotroski F-Score is 5 as of Jun. 27, 2026, which is at its 10-year median of 5.00. GuruFocus rates LSE:DSW with a GF Score™ of 79/100 and a GF Value™ of £1.32 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,063 Business Services companies, DSW Capital ranks better than 51.55% 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

DSW Capital has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for DSW Capital's Piotroski F-Score or its related term are showing as below:

LSE:DSW' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 5
Current: 5

During the past 7 years, the highest Piotroski F-Score of DSW Capital was 5. The lowest was 1. And the median was 5.

DSW Capital  (LSE:DSW) 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.


DSW Capital Piotroski F-Score Related Terms


DSW Capital Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for DSW Capital'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.

DSW Capital Piotroski F-Score Chart

DSW Capital Annual Data
Trend Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Piotroski F-Score
Get a 7-Day Free Trial 5.00 5.00 5.00 1.00 5.00

DSW Capital Semi-Annual Data
Mar19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 1.00 0.00 5.00 0.00

LSE:DSW vs CTAS, CPRT, GPN: Piotroski F-Score Comparison

For the Specialty Business Services subindustry, DSW Capital'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.


DSW Capital Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, DSW Capital's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where DSW Capital's Piotroski F-Score falls into.


LSE:DSW
79GF Score
DSW Capital PLC LSE:DSW
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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was £0.98 Mil.
Cash Flow from Operations was £1.41 Mil.
Revenue was £4.86 Mil.
Gross Profit was £4.27 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was (8.588 + 15.475) / 2 = £12.0315 Mil.
Total Assets at the begining of this year (Mar24) was £8.59 Mil.
Long-Term Debt & Capital Lease Obligation was £2.83 Mil.
Total Current Assets was £5.69 Mil.
Total Current Liabilities was £1.90 Mil.
Net Income was £0.08 Mil.

Revenue was £2.31 Mil.
Gross Profit was £2.31 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was (8.958 + 8.588) / 2 = £8.773 Mil.
Total Assets at the begining of last year (Mar23) was £8.96 Mil.
Long-Term Debt & Capital Lease Obligation was £0.22 Mil.
Total Current Assets was £4.98 Mil.
Total Current Liabilities was £0.70 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.

DSW Capital's current Net Income (TTM) was 0.98. ==> 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.

DSW Capital's current Cash Flow from Operations (TTM) was 1.41. ==> 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 (Mar24)
=0.984/8.588
=0.11457848

ROA (Last Year)=Net Income/Total Assets (Mar23)
=0.084/8.958
=0.00937709

DSW Capital's return on assets of this year was 0.11457848. DSW Capital's return on assets of last year was 0.00937709. ==> 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.

DSW Capital's current Net Income (TTM) was 0.98. DSW Capital's current Cash Flow from Operations (TTM) was 1.41. ==> 1.41 > 0.98 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=2.829/12.0315
=0.23513278

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=0.218/8.773
=0.02484897

DSW Capital's gearing of this year was 0.23513278. DSW Capital's gearing of last year was 0.02484897. ==> 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

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=5.689/1.897
=2.9989457

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=4.98/0.702
=7.09401709

DSW Capital's current ratio of this year was 2.9989457. DSW Capital's current ratio of last year was 7.09401709. ==> 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.

DSW Capital's number of shares in issue this year was 23.099. DSW Capital's number of shares in issue last year was 21.926. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=4.273/4.855
=0.88012358

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2.311/2.311
=1

DSW Capital's gross margin of this year was 0.88012358. DSW Capital's gross margin of last year was 1. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=4.855/8.588
=0.56532371

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=2.311/8.958
=0.25798169

DSW Capital's asset turnover of this year was 0.56532371. DSW Capital's asset turnover of last year was 0.25798169. ==> This year's asset turnover is higher. ==> Score 1.

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+0+0+0+0+1
=5

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

DSW Capital has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
DSW Capital (LSE:DSW) has a Piotroski F-Score of 5 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on DSW Capital and its competitors. This is near median its historical median of 5.00. Over the past decade, DSW Capital's Piotroski F-Score has ranged from 1.00 to 5.00. According to the industry distribution chart, DSW Capital ranks #515 out of 1063 companies in the Business Services industry, placing it in the top 48.4%.
Is DSW Capital's Piotroski F-Score too high?
DSW Capital's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 5.00. The Business Services industry median Piotroski F-Score is 5.00. DSW Capital's value of 5 is 0% at this industry median. Based on the distribution chart, DSW Capital ranks #515 out of 1063 companies in the Business Services industry, which is above the industry midpoint. Overall, DSW Capital has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does DSW Capital's Piotroski F-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, DSW Capital ranks #515 out of 1063 companies for Piotroski F-Score. This puts DSW Capital in the upper half of its industry. The industry median Piotroski F-Score is 5.00. DSW Capital's value of 5 is 0% at this benchmark. Historically, DSW Capital's own Piotroski F-Score has ranged from 1.00 to 5.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, DSW Capital has consistently been at 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 Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,063 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. DSW Capital's current Piotroski F-Score of 5 is 0% at 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 DSW Capital and its competitors. For the Business Services 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. DSW Capital's current Piotroski F-Score is 5, which is near median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DSW Capital stock overvalued right now?
Based on GuruFocus' analysis, DSW Capital (LSE:DSW) is currently considered Significantly Undervalued. The stock's GF Value™ is £1.32, compared to a current price of £0.43 — trading 67.8% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Business Services industry median of 5.00. DSW Capital's overall GF Score™ is 79/100 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 DSW Capital (LSE:DSW), the current Piotroski F-Score is 5 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 DSW Capital (LSE:DSW) Overvalued in 2026?

Based on GuruFocus' analysis, DSW Capital stock appears to be undervalued. The current stock price of £0.43 is trading 67.8% below its estimated GF Value™ of £1.32. GuruFocus considers DSW Capital to be Significantly Undervalued.

Key valuation signals for LSE:DSW:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: £1.32 vs. price of £0.43 (67.8% below fair value)
  • GF Score™: 79/100 with 5 warning signs
  • Industry Position: 0% at the Business Services median (#515 of 1063)

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


DSW Capital Business Description

Address 7400 Daresbury Park, Daresbury, Warrington, GBR, WA4 4BS
DSW Capital PLC is a challenger mid-market professional services business. It operates a licensing model and licenses the DSW and associated brand names in return for a royalty based on a percentage of fee income. The DSW network employs eighty two fee earners across England and Scotland. It recruits skilled professionals, in focused niches of expertise to run its own business and provide services to mid-market corporates, owner-managers, private equity firms, and high net-worth individuals. The Company recognizes revenue from two sources: license fee income and profit share income.
79GF Score

Get the complete analysis for LSE:DSW

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

£0.43
Price
£1.32
GF Value