Landi Renzo SpA (MIL:LNDR) Piotroski F-Score: 3 (As of Aug. 19, 2026) — 40% Below Median

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MIL:LNDR Landi Renzo SpA MIL:LNDR
30 GF Score
Price €0.67
GF Value €2.07
Valuation Possible Value Trap
! 7 Warning Signs
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What is Landi Renzo SpA Piotroski F-Score?

Landi Renzo SpA MIL:LNDR -2.03% 30 Piotroski F-Score is 3 as of Aug. 19, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates MIL:LNDR with a GF Score™ of 30/100 and a GF Value™ of €2.07 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,278 Vehicles & Parts companies, Landi Renzo SpA ranks worse than 86.46% 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

Landi Renzo SpA 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 Landi Renzo SpA's Piotroski F-Score or its related term are showing as below:

MIL:LNDR' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Landi Renzo SpA was 8. The lowest was 3. And the median was 5.

Landi Renzo SpA  (MIL:LNDR) 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.


Landi Renzo SpA Piotroski F-Score Related Terms


Landi Renzo SpA Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Landi Renzo SpA'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.

Landi Renzo SpA Piotroski F-Score Chart

Landi Renzo SpA Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 5.00 3.00 0.00

Landi Renzo SpA Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec25
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 3.00 4.00 4.00 3.00 0.00

MIL:LNDR vs ORLY, AZO, GPC: Piotroski F-Score Comparison

For the Auto Parts subindustry, Landi Renzo SpA'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.


Landi Renzo SpA Piotroski F-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Landi Renzo SpA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Landi Renzo SpA's Piotroski F-Score falls into.


MIL:LNDR
30GF Score
Landi Renzo SpA MIL:LNDR
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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -7.441 + -8.142 + -8.586 + -8.933 = €-33.1 Mil.
Cash Flow from Operations was 6.999 + -16.885 + -2.64 + -0.819 = €-13.3 Mil.
Revenue was 80.905 + 68.92 + 70.444 + 59.348 = €279.6 Mil.
Gross Profit was 29.731 + 27.088 + 27.539 + 22.969 = €107.3 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(368.393 + 373.469 + 353.065 + 340.808 + 331.489) / 5 = €353.4448 Mil.
Total Assets at the begining of this year (Sep23) was €368.4 Mil.
Long-Term Debt & Capital Lease Obligation was €83.7 Mil.
Total Current Assets was €190.4 Mil.
Total Current Liabilities was €162.8 Mil.
Net Income was -4.166 + -9.905 + -11.05 + -6.773 = €-31.9 Mil.

Revenue was 89.364 + 71.369 + 81.111 + 69.954 = €311.8 Mil.
Gross Profit was 33.31 + 25.18 + 32.895 + 26.065 = €117.5 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(407.021 + 406.63 + 388.264 + 376.423 + 368.393) / 5 = €389.3462 Mil.
Total Assets at the begining of last year (Sep22) was €407.0 Mil.
Long-Term Debt & Capital Lease Obligation was €88.3 Mil.
Total Current Assets was €223.4 Mil.
Total Current Liabilities was €167.9 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.

Landi Renzo SpA's current Net Income (TTM) was -33.1. ==> 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.

Landi Renzo SpA's current Cash Flow from Operations (TTM) was -13.3. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep23)
=-33.102/368.393
=-0.08985513

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-31.894/407.021
=-0.07835959

Landi Renzo SpA's return on assets of this year was -0.08985513. Landi Renzo SpA's return on assets of last year was -0.07835959. ==> 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.

Landi Renzo SpA's current Net Income (TTM) was -33.1. Landi Renzo SpA's current Cash Flow from Operations (TTM) was -13.3. ==> -13.3 > -33.1 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=83.686/353.4448
=0.23677247

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=88.311/389.3462
=0.2268187

Landi Renzo SpA's gearing of this year was 0.23677247. Landi Renzo SpA's gearing of last year was 0.2268187. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=190.407/162.822
=1.16941814

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=223.389/167.882
=1.33063104

Landi Renzo SpA's current ratio of this year was 1.16941814. Landi Renzo SpA's current ratio of last year was 1.33063104. ==> 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.

Landi Renzo SpA's number of shares in issue this year was 22.5. Landi Renzo SpA's number of shares in issue last year was 22.5. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=107.327/279.617
=0.38383575

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=117.45/311.798
=0.37668619

Landi Renzo SpA's gross margin of this year was 0.38383575. Landi Renzo SpA's gross margin of last year was 0.37668619. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep23)
=279.617/368.393
=0.75901822

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=311.798/407.021
=0.76604893

Landi Renzo SpA's asset turnover of this year was 0.75901822. Landi Renzo SpA's asset turnover of last year was 0.76604893. ==> 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
=0+0+0+1+0+0+1+1+0
=3

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

Landi Renzo SpA 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?
Landi Renzo SpA (MIL:LNDR) has a Piotroski F-Score of 3 as of Aug. 19, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Landi Renzo SpA and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Landi Renzo SpA's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Landi Renzo SpA ranks #1105 out of 1278 companies in the Vehicles & Parts industry, placing it in the top 86.5%.
Is Landi Renzo SpA's Piotroski F-Score too high?
Landi Renzo SpA's current Piotroski F-Score of 3 is 40% 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 8.00. The Vehicles & Parts industry median Piotroski F-Score is 5.00. Landi Renzo SpA's value of 3 is 40% below this industry median. Based on the distribution chart, Landi Renzo SpA ranks #1105 out of 1278 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Landi Renzo SpA has a GF Score™ of 30/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Landi Renzo SpA's Piotroski F-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Landi Renzo SpA ranks #1105 out of 1278 companies for Piotroski F-Score. This places Landi Renzo SpA in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Landi Renzo SpA's value of 3 is 40% below this benchmark. Historically, Landi Renzo SpA's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Landi Renzo SpA 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 Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 5.00, based on 1,278 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. Landi Renzo SpA'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 Landi Renzo SpA and its competitors. For the Vehicles & Parts 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. Landi Renzo SpA's current Piotroski F-Score is 3, which is 40% 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 Landi Renzo SpA stock overvalued right now?
Based on GuruFocus' analysis, Landi Renzo SpA (MIL:LNDR) is currently considered Possible Value Trap. The stock's GF Value™ is €2.07, compared to a current price of €0.67 — trading 67.4% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Vehicles & Parts industry median of 5.00. Landi Renzo SpA's overall GF Score™ is 30/100 with 7 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 Landi Renzo SpA (MIL:LNDR), the current Piotroski F-Score is 3 as of Aug. 19, 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 Landi Renzo SpA (MIL:LNDR) Overvalued in 2026?

Based on GuruFocus' analysis, Landi Renzo SpA stock appears to be undervalued. The current stock price of €0.67 is trading 67.4% below its estimated GF Value™ of €2.07. GuruFocus considers Landi Renzo SpA to be Possible Value Trap.

Key valuation signals for MIL:LNDR:

  • Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
  • GF Value™: €2.07 vs. price of €0.67 (67.4% below fair value)
  • GF Score™: 30/100 with 7 warning signs
  • Industry Position: 40% below the Vehicles & Parts median (#1105 of 1278)

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


Landi Renzo SpA Business Description

Other Exchanges ARQ0:GermanyARQ0:Germany
Address Via Nobel 2, Corte Tegge, Cavriago, ITA, 42025
Landi Renzo SpA is engaged in the automotive fuel supply systems sector. The company mainly designs, manufactures, and sells liquefied petroleum gas and compressed natural gas fuel supply systems for the automotive sector. In addition, it also manufactures compressors for fuel stations, and audio and alarm systems. The group sells its products to car manufacturers, independent retailers, and importers. It has two operating segments which include the Green Transportation segment, and the Clean Tech Solutions segment. The Green Transportation segment generates a majority of its revenue which is designed, manufactured, and sold through the OEM and After Market channels of mechanical and electronic systems and components for the use of automotive gas.
30GF Score

Get the complete analysis for MIL:LNDR

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

€0.67
Price
€2.07
GF Value