Northern Star ResourcesNESRF +0.76%93 Piotroski F-Score is 7 as of Jun. 25, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates NESRF with a GF Score™ of 93/100 and a GF Value™ of $14.53 (Fairly Valued). The stock has 3 warning signs investors should review. Among 2,511 Metals & Mining companies, Northern Star Resources ranks better than 95.5% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Northern Star Resources has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Northern Star Resources's Piotroski F-Score or its related term are showing as below:
NESRF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Northern Star Resources was 8. The lowest was 4. And the median was 6.
Northern Star Resources (OTCPK:NESRF) 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.
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.
Northern Star Resources Piotroski F-Score Related Terms
Northern Star Resources Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Northern Star Resources'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.
For the Gold subindustry, Northern Star Resources'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.
Northern Star Resources Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Northern Star Resources's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Northern Star Resources'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.
Northern Star Resources's current Net Income (TTM) was 872.
==> 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.
Northern Star Resources's current Cash Flow from Operations (TTM) was 1,923.
==> 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.
Northern Star Resources's return on assets of this year was 0.100417. Northern Star Resources's return on assets of last year was 0.05129153.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Northern Star Resources's gearing of this year was 0.08659971. Northern Star Resources's gearing of last year was 0.0933752.
==> 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
Northern Star Resources's current ratio of this year was 1.8198173. Northern Star Resources's current ratio of last year was 2.57270489.
==> 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.
Northern Star Resources's number of shares in issue this year was 1200.448. Northern Star Resources's number of shares in issue last year was 1158.802.
==> 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.
Northern Star Resources's gross margin of this year was 0.56601036. Northern Star Resources's gross margin of last year was 0.47149075.
==> 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
Northern Star Resources's asset turnover of this year was 0.48082754. Northern Star Resources's asset turnover of last year was 0.39532617.
==> 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
+
1
+
0
+
0
+
1
+
1
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Northern Star Resources has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Northern Star Resources (NESRF) has a Piotroski F-Score of 7 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Northern Star Resources and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Northern Star Resources' Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Northern Star Resources ranks #113 out of 2511 companies in the Metals & Mining industry, placing it in the top 4.5%.
Is Northern Star Resources' Piotroski F-Score too high?
Northern Star Resources' current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Northern Star Resources' value of 7 is 133.3% above this industry median. Based on the distribution chart, Northern Star Resources ranks #113 out of 2511 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Northern Star Resources has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Northern Star Resources' Piotroski F-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Northern Star Resources ranks #113 out of 2511 companies for Piotroski F-Score. This places Northern Star Resources in the top 5% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Northern Star Resources' value of 7 is 133.3% above this benchmark. Historically, Northern Star Resources' own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 3.00, Northern Star Resources has consistently been above 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,511 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. Northern Star Resources's current Piotroski F-Score of 7 is 133.3% above 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 Northern Star Resources and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Star Resources's current Piotroski F-Score is 7, which is 17% above 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 Northern Star Resources stock overvalued right now?
Based on GuruFocus' analysis, Northern Star Resources (NESRF) is currently considered Fairly Valued. The stock's GF Value™ is $14.53, compared to a current price of $13.88 — trading 4.5% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 133.3% above the Metals & Mining industry median of 3.00. Northern Star Resources' overall GF Score™ is 93/100 with 3 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 Northern Star Resources (NESRF), the current Piotroski F-Score is 7 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 Northern Star Resources (NESRF) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Star Resources stock appears to be undervalued.
The current stock price of $13.88 is trading 4.5% below its estimated GF Value™ of $14.53.
GuruFocus considers Northern Star Resources to be Fairly Valued.
Key valuation signals for NESRF:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: $14.53 vs. price of $13.88 (4.5% below fair value)
Industry Position: 133.3% above the Metals & Mining median (#113 of 2511)
No single metric tells the full story. See the NESRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Star is an Australia-based midtier global gold miner that sold around 1.6 million ounces of gold in fiscal 2025 from its three wholly owned mining operations in Australia and Alaska. Its operations are the result of significant merger and acquisition activity including 14 acquisitions and four asset sales since 2010. It had roughly a decade of reserves at the end of fiscal 2025.
93GF Score
Get the complete analysis for NESRF
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NESRF has been successfully added to your 
