Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NRC Group ASANNRRF +18.55%57 Piotroski F-Score is 6 as of Aug. 16, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates NNRRF with a GF Score™ of 57/100 and a GF Value™ of $0.41. The stock has 5 warning signs investors should review. Among 978 Transportation companies, NRC Group ASA ranks better than 71.27% 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
NRC Group ASA has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for NRC Group ASA's Piotroski F-Score or its related term are showing as below:
NNRRF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of NRC Group ASA was 9. The lowest was 2. And the median was 5.
NRC Group ASA (OTCPK:NNRRF) 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.
NRC Group ASA Piotroski F-Score Related Terms
NRC Group ASA Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for NRC Group ASA'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.
NNRRF vs UNP, CSX, NSC: Piotroski F-Score Comparison
For the Railroads subindustry, NRC Group ASA'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.
NRC Group ASA Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, NRC Group ASA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where NRC Group ASA'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.
NRC Group ASA's current Net Income (TTM) was 1.7.
==> 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.
NRC Group ASA's return on assets of this year was 0.00361261. NRC Group ASA's return on assets of last year was -0.02779193.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
NRC Group ASA's gearing of this year was 0.15496429. NRC Group ASA's gearing of last year was 0.17402233.
==> 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
NRC Group ASA's current ratio of this year was 1.01661749. NRC Group ASA's current ratio of last year was 1.00278468.
==> This year's current ratio is higher. ==> Score 1.
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.
NRC Group ASA's number of shares in issue this year was 177.778. NRC Group ASA's number of shares in issue last year was 172.222.
==> 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.
NRC Group ASA's gross margin of this year was 0.96876139. NRC Group ASA's gross margin of last year was 0.97030979.
==> 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
NRC Group ASA's asset turnover of this year was 1.40546972. NRC Group ASA's asset turnover of last year was 1.53920486.
==> 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
=
1
+
1
+
1
+
1
+
1
+
1
+
0
+
0
+
0
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
NRC Group ASA has an F-score of 6 indicating the company's financial situation is typical for a stable company.
NRC Group ASA (NNRRF) has a Piotroski F-Score of 6 as of Aug. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on NRC Group ASA and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, NRC Group ASA's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, NRC Group ASA ranks #281 out of 978 companies in the Transportation industry, placing it in the top 28.7%.
Is NRC Group ASA's Piotroski F-Score too high?
NRC Group ASA's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Transportation industry median Piotroski F-Score is 6.00. NRC Group ASA's value of 6 is 0% at this industry median. Based on the distribution chart, NRC Group ASA ranks #281 out of 978 companies in the Transportation industry, which is above the industry midpoint. Overall, NRC Group ASA has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does NRC Group ASA's Piotroski F-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, NRC Group ASA ranks #281 out of 978 companies for Piotroski F-Score. This puts NRC Group ASA in the upper half of its industry. The industry median Piotroski F-Score is 6.00. NRC Group ASA's value of 6 is 0% at this benchmark. Historically, NRC Group ASA's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, NRC Group ASA 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 Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 978 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. NRC Group ASA's current Piotroski F-Score of 6 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 NRC Group ASA and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NRC Group ASA's current Piotroski F-Score is 6, which is 20% above 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 NRC Group ASA stock overvalued right now?
NRC Group ASA (NNRRF) has a current Piotroski F-Score of 6. The stock's GF Value™ is $0.41, compared to a current price of $0.84 — trading 104.5% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 0% at the Transportation industry median of 6.00. NRC Group ASA's overall GF Score™ is 57/100 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 NRC Group ASA (NNRRF), the current Piotroski F-Score is 6 as of Aug. 16, 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 NRC Group ASA (NNRRF) Overvalued in 2026?
Based on GuruFocus' analysis, NRC Group ASA stock appears to be overvalued.
The current stock price of $0.84 is trading 104.5% above its estimated GF Value™ of $0.41.
Key valuation signals for NNRRF:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: $0.41 vs. price of $0.84 (104.5% above fair value)
Industry Position: 0% at the Transportation median (#281 of 978)
No single metric tells the full story. See the NNRRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NRC Group ASA is a contractor of rail infrastructure. It particularly focused on railway construction and maintenance, but is also a supplier of other civil infrastructure. Its services include Ground work, Concrete work, signaling systems, Electro, Catenary systems, Tracks, station terminals, Demolition, Mass transportation, and Renewable Energy Services. It has three operating segments based on its geography: Norway, Sweden, and Finland. Norway consist two operating divisions: Rail construction and civil construction; Sweden consist three operating divisions: Rail construction, Rail maintenance, and Civil construction; and Finland consist four operating divisions: Rail construction, including Light rail, Rail maintenance, Civil construction, and Materials.
57GF Score
Get the complete analysis for NNRRF
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
NNRRF has been successfully added to your 
