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Carraro IndiaNSE:CARRARO -0.06%19 Piotroski F-Score is 8 as of Sep. 07, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates NSE:CARRARO with a GF Score™ of 19/100. Among 1,301 Vehicles & Parts companies, Carraro India ranks better than 97.77% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Carraro India has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Carraro India's Piotroski F-Score or its related term are showing as below:
NSE:CARRARO'
s Piotroski F-Score Range Over the Past 10 Years
Min: 7 Med: 7 Max: 8
Current: 8
During the past 5 years, the highest Piotroski F-Score of Carraro India was 8. The lowest was 7. And the median was 7.
Carraro India (NSE:CARRARO) 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.
Carraro India Piotroski F-Score Related Terms
Carraro India Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Carraro India'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:CARRARO vs ORLY, AZO, GPC: Piotroski F-Score Comparison
For the Auto Parts subindustry, Carraro India'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.
Carraro India Piotroski F-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Carraro India's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Carraro India'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.
Carraro India's current Net Income (TTM) was 1,306.
==> 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.
Carraro India's return on assets of this year was 0.11788666. Carraro India's return on assets of last year was 0.08213066.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Carraro India's gearing of this year was 0.10137322. Carraro India's gearing of last year was 0.13250797.
==> 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
Carraro India's current ratio of this year was 1.62478928. Carraro India's current ratio of last year was 1.51596046.
==> 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.
Carraro India's number of shares in issue this year was 56.852. Carraro India's number of shares in issue last year was 56.852.
==> 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.
Carraro India's gross margin of this year was 0.24331567. Carraro India's gross margin of last year was 0.24761272.
==> 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
Carraro India's asset turnover of this year was 2.02836713. Carraro India's asset turnover of last year was 1.67757585.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Carraro India has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Carraro India (NSE:CARRARO) has a Piotroski F-Score of 8 as of Sep. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Carraro India and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Carraro India's Piotroski F-Score has ranged from 7.00 to 8.00. According to the industry distribution chart, Carraro India ranks #29 out of 1301 companies in the Vehicles & Parts industry, placing it in the top 2.2%.
Is Carraro India's Piotroski F-Score too high?
Carraro India's current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 7.00 to a high of 8.00. The Vehicles & Parts industry median Piotroski F-Score is 6.00. Carraro India's value of 8 is 33.3% above this industry median. Based on the distribution chart, Carraro India ranks #29 out of 1301 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Carraro India has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Carraro India's Piotroski F-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Carraro India ranks #29 out of 1301 companies for Piotroski F-Score. This places Carraro India in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Carraro India's value of 8 is 33.3% above this benchmark. Historically, Carraro India's own Piotroski F-Score has ranged from 7.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Carraro India has consistently been above 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 Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 6.00, based on 1,301 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. Carraro India's current Piotroski F-Score of 8 is 33.3% above 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 Carraro India and its competitors. For the Vehicles & Parts 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. Carraro India's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carraro India stock overvalued right now?
Carraro India (NSE:CARRARO) has a current Piotroski F-Score of 8. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 33.3% above the Vehicles & Parts industry median of 6.00. Carraro India's overall GF Score™ is 19/100. 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 Carraro India (NSE:CARRARO), the current Piotroski F-Score is 8 as of Sep. 07, 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.
Carraro India Ltd is a technology-driven integrated supplier that develops complex engineering products and solutions for its original equipment manufacturer (OEM) customers. The company manufactures and sells axles and transmission systems for agricultural tractors and construction vehicles such as backhoe loaders, soil compactors, cranes, self-loading concrete mixers, and small motor graders. It also provides after-sale services and supplies spare parts mainly to Indian customers. The company operates in two geographical environments; India which is its key revenue-generating market, and outside India.
19GF Score
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