AAK AB (LTS:0A0J) Piotroski F-Score: 4 (As of Jul. 03, 2026) — 20% Below Median


LTS:0A0J AAK AB LTS:0A0J
88 GF Score
Price kr231.10
GF Value kr256.83
Valuation Modestly Undervalued
! 1 Warning Sign
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What is AAK AB Piotroski F-Score?

AAK AB LTS:0A0J +1.14% 88 Piotroski F-Score is 4 as of Jul. 03, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates LTS:0A0J with a GF Score™ of 88/100 and a GF Value™ of kr256.83 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,909 Consumer Packaged Goods companies, AAK AB ranks worse than 66.95% 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

AAK AB has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

LTS:0A0J' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of AAK AB was 9. The lowest was 3. And the median was 5.

AAK AB  (LTS:0A0J) 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.


AAK AB Piotroski F-Score Related Terms


AAK AB Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for AAK AB'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.

AAK AB Piotroski F-Score Chart

AAK AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 4.00 8.00 6.00 5.00

AAK AB Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 6.00 6.00 5.00 5.00 4.00

LTS:0A0J vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, AAK AB'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.


AAK AB Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, AAK AB's Piotroski F-Score distribution charts can be found below:

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


LTS:0A0J
88GF Score
AAK AB LTS:0A0J
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 641 + 909 + 946 + 962 = kr3,458 Mil.
Cash Flow from Operations was 524 + 542 + 288 + 1395 = kr2,749 Mil.
Revenue was 11300 + 11498 + 11480 + 11388 = kr45,666 Mil.
Gross Profit was 2977 + 3047 + 2931 + 3025 = kr11,980 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(32088 + 32383 + 33174 + 32622 + 34764) / 5 = kr33006.2 Mil.
Total Assets at the begining of this year (Mar25) was kr32,088 Mil.
Long-Term Debt & Capital Lease Obligation was kr734 Mil.
Total Current Assets was kr23,228 Mil.
Total Current Liabilities was kr11,348 Mil.
Net Income was 808 + 869 + 926 + 933 = kr3,536 Mil.

Revenue was 11033 + 11171 + 11730 + 11743 = kr45,677 Mil.
Gross Profit was 3136 + 3289 + 3382 + 3164 = kr12,971 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(32687 + 31594 + 32011 + 34386 + 32088) / 5 = kr32553.2 Mil.
Total Assets at the begining of last year (Mar24) was kr32,687 Mil.
Long-Term Debt & Capital Lease Obligation was kr1,255 Mil.
Total Current Assets was kr20,953 Mil.
Total Current Liabilities was kr10,236 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.

AAK AB's current Net Income (TTM) was 3,458. ==> 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.

AAK AB's current Cash Flow from Operations (TTM) was 2,749. ==> 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 (Mar25)
=3458/32088
=0.10776614

ROA (Last Year)=Net Income/Total Assets (Mar24)
=3536/32687
=0.10817756

AAK AB's return on assets of this year was 0.10776614. AAK AB's return on assets of last year was 0.10817756. ==> 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.

AAK AB's current Net Income (TTM) was 3,458. AAK AB's current Cash Flow from Operations (TTM) was 2,749. ==> 2,749 <= 3,458 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=734/33006.2
=0.02223825

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1255/32553.2
=0.03855228

AAK AB's gearing of this year was 0.02223825. AAK AB's gearing of last year was 0.03855228. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=23228/11348
=2.04688051

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=20953/10236
=2.04699101

AAK AB's current ratio of this year was 2.04688051. AAK AB's current ratio of last year was 2.04699101. ==> 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.

AAK AB's number of shares in issue this year was 260.705. AAK AB's number of shares in issue last year was 260.615. ==> 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
=11980/45666
=0.2623396

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12971/45677
=0.28397224

AAK AB's gross margin of this year was 0.2623396. AAK AB's gross margin of last year was 0.28397224. ==> 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 (Mar25)
=45666/32088
=1.42314884

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=45677/32687
=1.3974057

AAK AB's asset turnover of this year was 1.42314884. AAK AB's asset turnover of last year was 1.3974057. ==> 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+0+0+1+0+0+0+1
=4

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

AAK AB has an F-score of 4 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 4 mean?
AAK AB (LTS:0A0J) has a Piotroski F-Score of 4 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on AAK AB and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, AAK AB's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, AAK AB ranks #1278 out of 1909 companies in the Consumer Packaged Goods industry, placing it in the top 66.9%.
Is AAK AB's Piotroski F-Score too high?
AAK AB's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. AAK AB's value of 4 is 20% below this industry median. Based on the distribution chart, AAK AB ranks #1278 out of 1909 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, AAK AB has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AAK AB's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, AAK AB ranks #1278 out of 1909 companies for Piotroski F-Score. This places AAK AB in the lower half of its industry. The industry median Piotroski F-Score is 5.00. AAK AB's value of 4 is 20% below this benchmark. Historically, AAK AB's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, AAK AB 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,909 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. AAK AB's current Piotroski F-Score of 4 is 20% 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 AAK AB and its competitors. For the Consumer Packaged Goods 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. AAK AB's current Piotroski F-Score is 4, which is 20% below 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 AAK AB stock overvalued right now?
Based on GuruFocus' analysis, AAK AB (LTS:0A0J) is currently considered Modestly Undervalued. The stock's GF Value™ is kr256.83, compared to a current price of kr231.10 — trading 10% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Consumer Packaged Goods industry median of 5.00. AAK AB's overall GF Score™ is 88/100 with 1 warning sign 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 AAK AB (LTS:0A0J), the current Piotroski F-Score is 4 as of Jul. 03, 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 AAK AB (LTS:0A0J) Overvalued in 2026?

Based on GuruFocus' analysis, AAK AB stock appears to be undervalued. The current stock price of kr231.10 is trading 10% below its estimated GF Value™ of kr256.83. GuruFocus considers AAK AB to be Modestly Undervalued.

Key valuation signals for LTS:0A0J:

  • Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
  • GF Value™: kr256.83 vs. price of kr231.10 (10% below fair value)
  • GF Score™: 88/100 with 1 warning sign
  • Industry Position: 20% below the Consumer Packaged Goods median (#1278 of 1909)

No single metric tells the full story. See the LTS:0A0J stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


AAK AB Business Description

Address Pulpetgatan 20, Malmo, SWE, 215 37
AAK AB is a Swedish refined vegetable oils producer with sales operations around the world. The company has three business segments: Food Ingredients, Chocolate & Confectionery Fats, and Technical Products & Feed. The Food Ingredients segment provides solutions to the bakery, dairy, nutrition, plant-based, & food service industries. The Chocolate & Confectionery Fats segment mainly serves manufacturers of chocolate, spreads, & fillings products as well as customers in the personal care industry. The Technical Products & Feed segment provides a growing range of specialized solutions, responding to an increased demand for natural ingredients & sustainability. A majority of its revenue is generated from the Food Ingredients segment.
88GF Score

Get the complete analysis for LTS:0A0J

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

kr231.10
Price
kr256.83
GF Value