Light Science Technologies HoldingsLSE:LST -14.06% Piotroski F-Score is 5 as of Jun. 26, 2026, which is 17% below its 10-year median of 6.00. The stock has 2 warning signs investors should review. Among 2,426 Hardware companies, Light Science Technologies Holdings ranks better than 59.56% 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
Light Science Technologies Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.
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.
Light Science Technologies Holdings Piotroski F-Score Related Terms
Light Science Technologies Holdings 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.
LSE:LST vs APH, GLW, TEL: Piotroski F-Score Comparison
For the Electronic Components subindustry, Light Science Technologies 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.
Light Science Technologies Holdings Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Light Science Technologies Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Light Science Technologies 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.
Light Science Technologies Holdings's current Net Income (TTM) was -0.98.
==> 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.
Light Science Technologies Holdings's current Cash Flow from Operations (TTM) was 0.52.
==> 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.
Light Science Technologies Holdings's return on assets of this year was -0.11768241. Light Science Technologies Holdings's return on assets of last year was -0.00564023.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Light Science Technologies Holdings's gearing of this year was 0.08843491. Light Science Technologies Holdings's gearing of last year was 0.10629354.
==> 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
Light Science Technologies Holdings's current ratio of this year was 0.88899167. Light Science Technologies Holdings's current ratio of last year was 1.23492063.
==> 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.
Light Science Technologies Holdings's number of shares in issue this year was 324.106. Light Science Technologies Holdings's number of shares in issue last year was 324.106.
==> 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.
Light Science Technologies Holdings's gross margin of this year was 0.33758109. Light Science Technologies Holdings's gross margin of last year was 0.30273324.
==> 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
Light Science Technologies Holdings's asset turnover of this year was 1.03762471. Light Science Technologies Holdings's asset turnover of last year was 1.44449778.
==> 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
Light Science Technologies Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Light Science Technologies Holdings (LSE:LST) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Light Science Technologies Holdings and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Light Science Technologies Holdings' Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Light Science Technologies Holdings ranks #981 out of 2426 companies in the Hardware industry, placing it in the top 40.4%.
Is Light Science Technologies Holdings' Piotroski F-Score too high?
Light Science Technologies Holdings' current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. Light Science Technologies Holdings' value of 5 is 0% at this industry median. Based on the distribution chart, Light Science Technologies Holdings ranks #981 out of 2426 companies in the Hardware industry, which is above the industry midpoint.
How does Light Science Technologies Holdings' Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Light Science Technologies Holdings ranks #981 out of 2426 companies for Piotroski F-Score. This puts Light Science Technologies Holdings in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Light Science Technologies Holdings' value of 5 is 0% at this benchmark. Historically, Light Science Technologies Holdings' own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Light Science Technologies Holdings 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,426 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. Light Science Technologies Holdings'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 Light Science Technologies Holdings and its competitors. For the Hardware 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. Light Science Technologies Holdings's current Piotroski F-Score is 5, which is 17% 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 Light Science Technologies Holdings stock overvalued right now?
Based on GuruFocus' analysis, Light Science Technologies Holdings (LSE:LST) is currently considered Possible Value Trap. The stock's GF Value™ is £0.02, compared to a current price of £0.01 — trading 31.3% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Hardware industry median of 5.00. 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 Light Science Technologies Holdings (LSE:LST), the current Piotroski F-Score is 5 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.
Light Science Technologies Holdings Business Description
Light Science Technologies Holdings PLC focuses on the development and manufacturing of Contract electronic boards and lighting and technology products for the Controlled Environment Agriculture (CEA) sector. The company operates in Contract Electronics Manufacturing, Agtech, and Passive fire protection. The company generates maximum revenue from the Contract electronics manufacturing segment. Geographically, the company operates in United Kingdom, Europe and Rest of the World, of which it derives maximum revenue from United Kingdom.
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