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TransnationalNSA:TRCNP -2.70%84 Piotroski F-Score is 4 as of Aug. 24, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates NSA:TRCNP with a GF Score™ of 84/100 and a GF Value™ of ₦69.01 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 428 Utilities - Independent Power Producers companies, Transnational ranks worse than 61.92% 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
Transnational has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Transnational's Piotroski F-Score or its related term are showing as below:
NSA:TRCNP'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 4
During the past 13 years, the highest Piotroski F-Score of Transnational was 8. The lowest was 2. And the median was 6.
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.
Transnational Piotroski F-Score Related Terms
Transnational Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Transnational'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.
NSA:TRCNP vs CEG, VST, NRG: Piotroski F-Score Comparison
For the Utilities - Independent Power Producers subindustry, Transnational'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.
Transnational Piotroski F-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Transnational's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Transnational'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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 12849.433 + 31497.066 + 21953.876 + 10901.337 = ₦77,202 Mil. Cash Flow from Operations was 33461.479 + 28294.327 + 12742.56 + -26092.349 = ₦48,406 Mil. Revenue was 133757.241 + 130705.716 + 125138.942 + 116390.818 = ₦505,993 Mil. Gross Profit was 65679.56 + 77950.677 + 70583.454 + 39159.769 = ₦253,373 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(907317.053 + 940887.393 + 1002342.622 + 1079377.519 + 1099573.187) / 5 = ₦1005899.5548 Mil. Total Assets at the begining of this year (Jun25) was ₦907,317 Mil. Long-Term Debt & Capital Lease Obligation was ₦106,622 Mil. Total Current Assets was ₦670,919 Mil. Total Current Liabilities was ₦515,999 Mil.
Net Income was 8115.96 + 6650.124 + 19519.365 + 21922.906 = ₦56,208 Mil.
Revenue was 86874.502 + 110252.184 + 143707.763 + 135969.893 = ₦476,804 Mil. Gross Profit was 39268.256 + 62815.105 + 73307.989 + 57611.445 = ₦233,003 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(625121.735 + 683758.282 + 751563.305 + 830509.599 + 907317.053) / 5 = ₦759653.9948 Mil. Total Assets at the begining of last year (Jun24) was ₦625,122 Mil. Long-Term Debt & Capital Lease Obligation was ₦61,934 Mil. Total Current Assets was ₦495,159 Mil. Total Current Liabilities was ₦449,095 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.
Transnational's current Net Income (TTM) was 77,202.
==> 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.
Transnational's return on assets of this year was 0.08508791. Transnational's return on assets of last year was 0.08991585.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Transnational's gearing of this year was 0.10599709. Transnational's gearing of last year was 0.08152861.
==> 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
Transnational's current ratio of this year was 1.30023293. Transnational's current ratio of last year was 1.10257062.
==> 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.
Transnational's number of shares in issue this year was 10188.165. Transnational's number of shares in issue last year was 10149.494.
==> 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.
Transnational's gross margin of this year was 0.50074527. Transnational's gross margin of last year was 0.48867591.
==> 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
Transnational's asset turnover of this year was 0.55768016. Transnational's asset turnover of last year was 0.76273838.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Transnational has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Transnational (NSA:TRCNP) has a Piotroski F-Score of 4 as of Aug. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Transnational and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Transnational's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Transnational ranks #265 out of 428 companies in the Utilities - Independent Power Producers industry, placing it in the top 61.9%.
Is Transnational's Piotroski F-Score too high?
Transnational's current Piotroski F-Score of 4 is 33% 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 Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. Transnational's value of 4 is 20% below this industry median. Based on the distribution chart, Transnational ranks #265 out of 428 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Transnational has a GF Score™ of 84/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Transnational's Piotroski F-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Transnational ranks #265 out of 428 companies for Piotroski F-Score. This places Transnational in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Transnational's value of 4 is 20% below this benchmark. Historically, Transnational'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, Transnational 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 an Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 428 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. Transnational's current Piotroski F-Score of 4 is 20% 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 Transnational and its competitors. For the Utilities - Independent Power Producers 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. Transnational's current Piotroski F-Score is 4, which is 33% 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 Transnational stock overvalued right now?
Based on GuruFocus' analysis, Transnational (NSA:TRCNP) is currently considered Possible Value Trap. The stock's GF Value™ is ₦69.01, compared to a current price of ₦36.00 — trading 47.8% below its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Utilities - Independent Power Producers industry median of 5.00. Transnational's overall GF Score™ is 84/100 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 Transnational (NSA:TRCNP), the current Piotroski F-Score is 4 as of Aug. 24, 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 Transnational (NSA:TRCNP) Overvalued in 2026?
Based on GuruFocus' analysis, Transnational stock appears to be undervalued.
The current stock price of ₦36.00 is trading 47.8% below its estimated GF Value™ of ₦69.01.
GuruFocus considers Transnational to be Possible Value Trap.
Key valuation signals for NSA:TRCNP:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: ₦69.01 vs. price of ₦36.00 (47.8% below fair value)
Industry Position: 20% below the Utilities - Independent Power Producers median (#265 of 428)
No single metric tells the full story. See the NSA:TRCNP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Transnational Corp PLC is a diversified conglomerate. Its business segments are Power, Oil and Gas, Hospitality, Corporate Centre, and Agro-allied. The group generates the majority of the revenue from the Power segment. In the Power segment, the company through its subsidiary, is engaged in the generation of electric power. The group provides hospitality services to the customers in the Hospitality segment. Oil and Gas segment includes exploration, refining, and marketing of petroleum products, and in the Agro-Allied segment, the group processes fruit concentrates from fruits. The Corporate Centre segment is the parent Company, Transnational Corporation of Nigeria Plc, and the other non-operational subsidiaries.
84GF 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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