C2C Advanced SystemsNSE:C2C -0.21%18 Piotroski F-Score is 2 as of Jun. 27, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates NSE:C2C with a GF Score™ of 18/100. The stock has 5 warning signs investors should review. Among 2,743 Software companies, C2C Advanced Systems ranks worse than 92.71% on this metric.
Warning Sign:
Piotroski F-Score of 2 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
C2C Advanced Systems has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for C2C Advanced Systems's Piotroski F-Score or its related term are showing as below:
NSE:C2C'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 2
During the past 5 years, the highest Piotroski F-Score of C2C Advanced Systems was 7. The lowest was 2. And the median was 5.
C2C Advanced Systems (NSE:C2C) 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.
C2C Advanced Systems Piotroski F-Score Related Terms
C2C Advanced Systems Piotroski F-Score Historical Data
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The historical data trend for C2C Advanced Systems'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.
NSE:C2C vs IBM, ACN, FISV: Piotroski F-Score Comparison
For the Information Technology Services subindustry, C2C Advanced Systems'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.
C2C Advanced Systems Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, C2C Advanced Systems's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where C2C Advanced Systems'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.
C2C Advanced Systems's current Net Income (TTM) was 288.
==> 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.
C2C Advanced Systems's current Cash Flow from Operations (TTM) was -1,152.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
C2C Advanced Systems's return on assets of this year was 0.33598726. C2C Advanced Systems's return on assets of last year was 0.66369514.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
C2C Advanced Systems's gearing of this year was 0.0469451. C2C Advanced Systems's gearing of last year was 0.
==> 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
C2C Advanced Systems's current ratio of this year was 4.07107671. C2C Advanced Systems's current ratio of last year was 8.79648669.
==> 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.
C2C Advanced Systems's number of shares in issue this year was 13.687. C2C Advanced Systems's number of shares in issue last year was 16.703.
==> 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.
C2C Advanced Systems's gross margin of this year was 0.46017282. C2C Advanced Systems's gross margin of last year was 0.55451559.
==> 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
C2C Advanced Systems's asset turnover of this year was 1.34107259. C2C Advanced Systems's asset turnover of last year was 2.21966396.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
C2C Advanced Systems has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
C2C Advanced Systems (NSE:C2C) has a Piotroski F-Score of 2 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on C2C Advanced Systems and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, C2C Advanced Systems' Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, C2C Advanced Systems ranks #2543 out of 2743 companies in the Software industry, placing it in the top 92.7%.
Is C2C Advanced Systems' Piotroski F-Score too high?
C2C Advanced Systems' current Piotroski F-Score of 2 is 60% below 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 7.00. The Software industry median Piotroski F-Score is 5.00. C2C Advanced Systems' value of 2 is 60% below this industry median. Based on the distribution chart, C2C Advanced Systems ranks #2543 out of 2743 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, C2C Advanced Systems has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does C2C Advanced Systems' Piotroski F-Score compare to IBM and ACN?
According to the Software industry distribution chart, C2C Advanced Systems ranks #2543 out of 2743 companies for Piotroski F-Score. This places C2C Advanced Systems in the lower half of its industry. The industry median Piotroski F-Score is 5.00. C2C Advanced Systems' value of 2 is 60% below this benchmark. Historically, C2C Advanced Systems' own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, C2C Advanced Systems 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 2,743 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. C2C Advanced Systems's current Piotroski F-Score of 2 is 60% 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 C2C Advanced Systems 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. C2C Advanced Systems's current Piotroski F-Score is 2, which is 60% below 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 C2C Advanced Systems stock overvalued right now?
C2C Advanced Systems (NSE:C2C) has a current Piotroski F-Score of 2. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Software industry median of 5.00. C2C Advanced Systems' overall GF Score™ is 18/100 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 C2C Advanced Systems (NSE:C2C), the current Piotroski F-Score is 2 as of Jun. 27, 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.
C2C Advanced Systems Ltd is a vertically integrated Defence electronics solutions provider catering to the indigenously developed defence products industry in India. The company has developed several offerings which cater to the entire spectrum of defence platforms both in the air and in the sea. It has design capabilities across the entire spectrum of strategic defence solutions including processors, power, radio frequencies (RF), radars and microwaves, embedded software and firmware. its core competencies include hardware design and development, software design and development, mechanical design and development, product prototype design and development, functional testing and validation, environment testing and verification and engineering services opportunities.
18GF Score
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