North American Construction GroupNOA +2.15%86 Piotroski F-Score is 5 as of Jun. 25, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates NOA with a GF Score™ of 86/100 and a GF Value™ of $24.29 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 975 Oil & Gas companies, North American Construction Group ranks better than 62.97% 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
North American Construction Group 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 North American Construction Group's Piotroski F-Score or its related term are showing as below:
NOA'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of North American Construction Group was 9. The lowest was 5. And the median was 6.
North American Construction Group (NYSE:NOA) 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.
North American Construction Group Piotroski F-Score Related Terms
North American Construction Group Piotroski F-Score Historical Data
* 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.
North American Construction Group Piotroski F-Score Chart
NOA vs SLB, BKR, HAL: Piotroski F-Score Comparison
For the Oil & Gas Equipment & Services subindustry, North American Construction Group'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.
North American Construction Group Piotroski F-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, North American Construction Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where North American Construction Group'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.
North American Construction Group's current Net Income (TTM) was 24.1.
==> 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.
North American Construction Group's current Cash Flow from Operations (TTM) was 176.1.
==> 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.
North American Construction Group's return on assets of this year was 0.019313. North American Construction Group's return on assets of last year was 0.02401205.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
North American Construction Group's gearing of this year was 0.47407246. North American Construction Group's gearing of last year was 0.38859812.
==> 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
North American Construction Group's current ratio of this year was 1.11432786. North American Construction Group's current ratio of last year was 0.92316264.
==> 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.
North American Construction Group's number of shares in issue this year was 28.504. North American Construction Group's number of shares in issue last year was 28.864.
==> 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.
North American Construction Group's gross margin of this year was 0.13235943. North American Construction Group's gross margin of last year was 0.16182455.
==> 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
North American Construction Group's asset turnover of this year was 0.73448044. North American Construction Group's asset turnover of last year was 0.74120149.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
North American Construction Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
North American Construction Group (NOA) 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 North American Construction Group and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, North American Construction Group's Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, North American Construction Group ranks #361 out of 975 companies in the Oil & Gas industry, placing it in the top 37%.
Is North American Construction Group's Piotroski F-Score too high?
North American Construction Group'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 5.00 to a high of 9.00. The Oil & Gas industry median Piotroski F-Score is 5.00. North American Construction Group's value of 5 is 0% at this industry median. Based on the distribution chart, North American Construction Group ranks #361 out of 975 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, North American Construction Group has a GF Score™ of 86/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does North American Construction Group's Piotroski F-Score compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, North American Construction Group ranks #361 out of 975 companies for Piotroski F-Score. This puts North American Construction Group in the upper half of its industry. The industry median Piotroski F-Score is 5.00. North American Construction Group's value of 5 is 0% at this benchmark. Historically, North American Construction Group's own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, North American Construction Group 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 an Oil & Gas company?
The median Piotroski F-Score among Oil & Gas companies is 5.00, based on 975 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. North American Construction Group'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 North American Construction Group and its competitors. For the Oil & Gas 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. North American Construction Group'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 North American Construction Group stock overvalued right now?
Based on GuruFocus' analysis, North American Construction Group (NOA) is currently considered Possible Value Trap. The stock's GF Value™ is $24.29, compared to a current price of $13.75 — trading 43.4% 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 Oil & Gas industry median of 5.00. North American Construction Group's overall GF Score™ is 86/100 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 North American Construction Group (NOA), 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 North American Construction Group (NOA) Overvalued in 2026?
Based on GuruFocus' analysis, North American Construction Group stock appears to be undervalued.
The current stock price of $13.75 is trading 43.4% below its estimated GF Value™ of $24.29.
GuruFocus considers North American Construction Group to be Possible Value Trap.
Key valuation signals for NOA:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: $24.29 vs. price of $13.75 (43.4% below fair value)
Industry Position: 0% at the Oil & Gas median (#361 of 975)
No single metric tells the full story. See the NOA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
North American Construction Group Business Description
North American Construction Group Ltd is Canada's heavy civil construction and mining contractor provider. The company has provided services to oil, natural gas, and resource companies. The Company provides a wide range of mining and heavy civil construction services to customer in the resource development and industrial construction sectors within Canada, the United States, and Australia. The Company's reportable segments are Heavy Equipment Canada, Heavy Equipment Australia, and Other. Heavy Equipment Canada and Heavy Equipment Australia include all of aspects of the mining and heavy civil construction services provided within those geographic areas. Other includes mine management contract work in the United States, its external maintenance and rebuild programs.
86GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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