MPZAF (Mips AB) Piotroski F-Score: 5 (As of Jun. 25, 2026) — 17% Below Median


MPZAF Mips AB MPZAF
77 GF Score
Price $25.48
GF Value $110.00
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Mips AB Piotroski F-Score?

Mips AB MPZAF 77 Piotroski F-Score is 5 as of Jun. 25, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates MPZAF with a GF Score™ of 77/100 and a GF Value™ of $110.00 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 840 Travel & Leisure companies, Mips AB ranks better than 52.74% 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

Mips AB 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 Mips AB's Piotroski F-Score or its related term are showing as below:

MPZAF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Mips AB was 8. The lowest was 2. And the median was 6.

Mips AB  (OTCPK:MPZAF) 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.


Mips AB Piotroski F-Score Related Terms


Mips AB Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Mips 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.

Mips AB Piotroski F-Score Chart

Mips 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 7.00 5.00 4.00 7.00 6.00

Mips 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 7.00 7.00 8.00 6.00 5.00

MPZAF vs AS, HAS, LTH: Piotroski F-Score Comparison

For the Leisure subindustry, Mips 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.


Mips AB Piotroski F-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Mips AB's Piotroski F-Score distribution charts can be found below:

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


MPZAF
77GF Score
Mips AB MPZAF
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 3.351 + 3.628 + 3.766 + 3.113 = $13.86 Mil.
Cash Flow from Operations was 1.885 + 4.374 + 5.595 + 1.932 = $13.79 Mil.
Revenue was 14.139 + 14.404 + 15.818 + 16.207 = $60.57 Mil.
Gross Profit was 10.473 + 10.669 + 11.513 + 11.484 = $44.14 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(73.228 + 62.211 + 66.363 + 140.636 + 140.278) / 5 = $96.5432 Mil.
Total Assets at the begining of this year (Mar25) was $73.23 Mil.
Long-Term Debt & Capital Lease Obligation was $28.87 Mil.
Total Current Assets was $45.94 Mil.
Total Current Liabilities was $16.21 Mil.
Net Income was 3.814 + 3.519 + 4.825 + 1.875 = $14.03 Mil.

Revenue was 12.682 + 12.025 + 13.109 + 11.448 = $49.26 Mil.
Gross Profit was 9.25 + 8.896 + 9.558 + 8.191 = $35.90 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(72.133 + 61.695 + 65.989 + 67.274 + 73.228) / 5 = $68.0638 Mil.
Total Assets at the begining of last year (Mar24) was $72.13 Mil.
Long-Term Debt & Capital Lease Obligation was $0.40 Mil.
Total Current Assets was $58.03 Mil.
Total Current Liabilities was $7.60 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.

Mips AB's current Net Income (TTM) was 13.86. ==> 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.

Mips AB's current Cash Flow from Operations (TTM) was 13.79. ==> 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)
=13.858/73.228
=0.18924455

ROA (Last Year)=Net Income/Total Assets (Mar24)
=14.033/72.133
=0.19454341

Mips AB's return on assets of this year was 0.18924455. Mips AB's return on assets of last year was 0.19454341. ==> 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.

Mips AB's current Net Income (TTM) was 13.86. Mips AB's current Cash Flow from Operations (TTM) was 13.79. ==> 13.79 <= 13.86 ==> 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
=28.871/96.5432
=0.29904747

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0.395/68.0638
=0.00580338

Mips AB's gearing of this year was 0.29904747. Mips AB's gearing of last year was 0.00580338. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=45.937/16.207
=2.83439255

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=58.029/7.599
=7.63639953

Mips AB's current ratio of this year was 2.83439255. Mips AB's current ratio of last year was 7.63639953. ==> 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.

Mips AB's number of shares in issue this year was 26.491. Mips AB's number of shares in issue last year was 26.516. ==> 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
=44.139/60.568
=0.72875116

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=35.895/49.264
=0.72862537

Mips AB's gross margin of this year was 0.72875116. Mips AB's gross margin of last year was 0.72862537. ==> 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 (Mar25)
=60.568/73.228
=0.82711531

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=49.264/72.133
=0.68296064

Mips AB's asset turnover of this year was 0.82711531. Mips AB's asset turnover of last year was 0.68296064. ==> 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+0+0+1+1+1
=5

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

Mips AB 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?
Mips AB (MPZAF) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Mips AB and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Mips AB's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Mips AB ranks #397 out of 840 companies in the Travel & Leisure industry, placing it in the top 47.3%.
Is Mips AB's Piotroski F-Score too high?
Mips AB's 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 8.00. The Travel & Leisure industry median Piotroski F-Score is 5.00. Mips AB's value of 5 is 0% at this industry median. Based on the distribution chart, Mips AB ranks #397 out of 840 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Mips AB has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mips AB's Piotroski F-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Mips AB ranks #397 out of 840 companies for Piotroski F-Score. This puts Mips AB in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Mips AB's value of 5 is 0% at this benchmark. Historically, Mips AB's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Mips AB 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 Travel & Leisure company?
The median Piotroski F-Score among Travel & Leisure companies is 5.00, based on 840 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. Mips AB'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 Mips AB and its competitors. For the Travel & Leisure 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. Mips AB'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 Mips AB stock overvalued right now?
Based on GuruFocus' analysis, Mips AB (MPZAF) is currently considered Significantly Undervalued. The stock's GF Value™ is $110.00, compared to a current price of $25.48 — trading 76.8% 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 Travel & Leisure industry median of 5.00. Mips AB's overall GF Score™ is 77/100 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 Mips AB (MPZAF), the current Piotroski F-Score is 5 as of Jun. 25, 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 Mips AB (MPZAF) Overvalued in 2026?

Based on GuruFocus' analysis, Mips AB stock appears to be undervalued. The current stock price of $25.48 is trading 76.8% below its estimated GF Value™ of $110.00. GuruFocus considers Mips AB to be Significantly Undervalued.

Key valuation signals for MPZAF:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: $110.00 vs. price of $25.48 (76.8% below fair value)
  • GF Score™: 77/100 with 5 warning signs
  • Industry Position: 0% at the Travel & Leisure median (#397 of 840)

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


Mips AB Business Description

Address Kemistvagen 1B, Taby, Stockholm, SWE, 183 79
Mips AB is a safety solutions provider that develops and sells the Mips safety system, comprising a low friction layer with different components that are designed for different helmet models. The system is adapted to different helmet models and is used by manufacturers in helmets for activities such as cycling, snow sports, motorcycling, and professional safety applications. The company sells its products and licenses the associated technology to helmet brands that manufacture, market, and sell helmets to end-users, directly or indirectly. Geographically, the company derives the majority of revenue from North America.
77GF Score

Get the complete analysis for MPZAF

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

$25.48
Price
$110.00
GF Value