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Free2move ABNGM:F2M -3.85% Piotroski F-Score is 3 as of Jul. 30, 2026, which is 25% below its 10-year median of 4.00. The stock has 5 warning signs investors should review. Among 2,735 Software companies, Free2move AB ranks worse than 79.27% 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
Free2move AB 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 Free2move AB's Piotroski F-Score or its related term are showing as below:
NGM:F2M'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 4 Max: 6
Current: 3
During the past 13 years, the highest Piotroski F-Score of Free2move AB was 6. The lowest was 1. And the median was 4.
Free2move AB (NGM:F2M) 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.
Free2move AB Piotroski F-Score Related Terms
Free2move AB Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Free2move 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.
NGM:F2M vs QH, SHOP, UBER: Piotroski F-Score Comparison
For the Software - Application subindustry, Free2move 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.
Free2move AB Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Free2move AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Free2move AB'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.
Free2move AB's current Net Income (TTM) was -24.86.
==> 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.
Free2move AB's return on assets of this year was -0.86559421. Free2move AB's return on assets of last year was -0.60906947.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Free2move AB's gearing of this year was 0.0155139. Free2move AB's gearing of last year was 0.0249989.
==> 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
Free2move AB's current ratio of this year was 0.09008054. Free2move AB's current ratio of last year was 0.18286981.
==> 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.
Free2move AB's number of shares in issue this year was 260.6. Free2move AB's number of shares in issue last year was 269.
==> 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.
Free2move AB's gross margin of this year was -1.10012373. Free2move AB's gross margin of last year was -0.38690653.
==> 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
Free2move AB's asset turnover of this year was 0.36585536. Free2move AB's asset turnover of last year was 0.58022774.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Free2move AB has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Free2move AB (NGM:F2M) has a Piotroski F-Score of 3 as of Jul. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Free2move AB and its competitors. This is 25% below median its historical median of 4.00. Over the past decade, Free2move AB's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Free2move AB ranks #2168 out of 2735 companies in the Software industry, placing it in the top 79.3%.
Is Free2move AB's Piotroski F-Score too high?
Free2move AB's current Piotroski F-Score of 3 is 25% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Software industry median Piotroski F-Score is 5.00. Free2move AB's value of 3 is 40% below this industry median. Based on the distribution chart, Free2move AB ranks #2168 out of 2735 companies in the Software industry, which is in the bottom quartile relative to peers.
How does Free2move AB's Piotroski F-Score compare to QH and SHOP?
According to the Software industry distribution chart, Free2move AB ranks #2168 out of 2735 companies for Piotroski F-Score. This places Free2move AB in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Free2move AB's value of 3 is 40% below this benchmark. Historically, Free2move AB's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Free2move 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,735 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. Free2move AB'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 Free2move AB and its competitors. For the Software 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. Free2move AB's current Piotroski F-Score is 3, which is 25% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Free2move AB stock overvalued right now?
Based on GuruFocus' analysis, Free2move AB (NGM:F2M) is currently considered Significantly Overvalued. The stock's GF Value™ is kr0.01, compared to a current price of kr0.03 — trading 150% above its estimated fair value. The current Piotroski F-Score is 3, which is 25% below median its 10-year median of 4.00 and 40% below the Software 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 Free2move AB (NGM:F2M), the current Piotroski F-Score is 3 as of Jul. 30, 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.
Free2move AB is a Nordic digitalization partner for sustainable property management. It invests in and develops entrepreneurially driven companies in renewable energy and new technology - with the view of stopping resource waste and unnecessary CO2 emissions caused by properties and their technology. This can improve property owners' operating net income. This means that it uses renewable energy and existing technology as a basis to create digital solutions that control the operation of the property, which gives customers guaranteed savings and improved sustainability.
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