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Effwa Infra & ResearchNSE:EFFWA +0.63%46 Piotroski F-Score is 5 as of Jul. 27, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates NSE:EFFWA with a GF Score™ of 46/100. The stock has 7 warning signs investors should review. Among 235 Waste Management companies, Effwa Infra & Research ranks better than 57.45% 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
Effwa Infra & Research 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 Effwa Infra & Research's Piotroski F-Score or its related term are showing as below:
NSE:EFFWA'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 5
During the past 6 years, the highest Piotroski F-Score of Effwa Infra & Research was 7. The lowest was 3. And the median was 6.
Effwa Infra & Research (NSE:EFFWA) 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.
Effwa Infra & Research Piotroski F-Score Related Terms
Effwa Infra & Research Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Effwa Infra & Research'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:EFFWA vs WM, RSG, WCN: Piotroski F-Score Comparison
For the Waste Management subindustry, Effwa Infra & Research'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.
Effwa Infra & Research Piotroski F-Score vs Waste Management Industry
For the Waste Management industry and Industrials sector, Effwa Infra & Research's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Effwa Infra & Research'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.
Effwa Infra & Research's current Net Income (TTM) was 286.
==> 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.
Effwa Infra & Research's return on assets of this year was 0.19109627. Effwa Infra & Research's return on assets of last year was 0.25198768.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Effwa Infra & Research's gearing of this year was 0.07860094. Effwa Infra & Research's gearing of last year was 0.02695165.
==> 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
Effwa Infra & Research's current ratio of this year was 2.91659895. Effwa Infra & Research's current ratio of last year was 2.87984968.
==> 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.
Effwa Infra & Research's number of shares in issue this year was 23.154. Effwa Infra & Research's number of shares in issue last year was 21.673.
==> 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.
Effwa Infra & Research's gross margin of this year was 0.28207204. Effwa Infra & Research's gross margin of last year was 0.27693817.
==> 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
Effwa Infra & Research's asset turnover of this year was 1.6913597. Effwa Infra & Research's asset turnover of last year was 2.31930826.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Effwa Infra & Research has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Effwa Infra & Research (NSE:EFFWA) has a Piotroski F-Score of 5 as of Jul. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Effwa Infra & Research and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Effwa Infra & Research's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Effwa Infra & Research ranks #100 out of 235 companies in the Waste Management industry, placing it in the top 42.6%.
Is Effwa Infra & Research's Piotroski F-Score too high?
Effwa Infra & Research'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 3.00 to a high of 7.00. The Waste Management industry median Piotroski F-Score is 5.00. Effwa Infra & Research's value of 5 is 0% at this industry median. Based on the distribution chart, Effwa Infra & Research ranks #100 out of 235 companies in the Waste Management industry, which is above the industry midpoint. Overall, Effwa Infra & Research has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Effwa Infra & Research's Piotroski F-Score compare to WM and RSG?
According to the Waste Management industry distribution chart, Effwa Infra & Research ranks #100 out of 235 companies for Piotroski F-Score. This puts Effwa Infra & Research in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Effwa Infra & Research's value of 5 is 0% at this benchmark. Historically, Effwa Infra & Research's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Effwa Infra & Research 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 Waste Management company?
The median Piotroski F-Score among Waste Management companies is 5.00, based on 235 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. Effwa Infra & Research'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 Effwa Infra & Research and its competitors. For the Waste Management 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. Effwa Infra & Research'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 Effwa Infra & Research stock overvalued right now?
Effwa Infra & Research (NSE:EFFWA) has a current Piotroski F-Score of 5. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Waste Management industry median of 5.00. Effwa Infra & Research's overall GF Score™ is 46/100 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 Effwa Infra & Research (NSE:EFFWA), the current Piotroski F-Score is 5 as of Jul. 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.
Effwa Infra & Research Ltd is engaged in the business of engineering, consultancy, procurement, construction and integrated project management services in water pollution control, encompassing sewage and industrial effluent treatment, solid waste treatment and disposal, ventilation systems, hazardous waste management, and water treatment plants. The company also functions as consultants and advisors, providing a range of services encompassing project organisation, management, equipment procurement, funding, and project execution.
46GF Score
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