NTIC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 6 Max: 9
Current: 1
During the past 13 years, the highest Piotroski F-Score of Northern Technologies International was 9. The lowest was 1. And the median was 6.
Northern Technologies International (NAS:NTIC) 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.
Northern Technologies International Piotroski F-Score Related Terms
Northern Technologies International 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.
Northern Technologies International Piotroski F-Score Chart
NTIC vs FSI, FEAM, KBLB: Piotroski F-Score Comparison
For the Specialty Chemicals subindustry, Northern Technologies International'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.
Northern Technologies International Piotroski F-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Northern Technologies International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Northern Technologies International'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.
Northern Technologies International's current Net Income (TTM) was -0.78.
==> Negative ==> Score 0.
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.
Northern Technologies International's current Cash Flow from Operations (TTM) was -2.14.
==> 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.
Northern Technologies International's return on assets of this year was -0.00827152. Northern Technologies International's return on assets of last year was 0.0436162.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Northern Technologies International's gearing of this year was 0.0063705. Northern Technologies International's gearing of last year was 0.00148154.
==> 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
Northern Technologies International's current ratio of this year was 1.8074986. Northern Technologies International's current ratio of last year was 2.17624121.
==> 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.
Northern Technologies International's number of shares in issue this year was 9.489. Northern Technologies International's number of shares in issue last year was 9.753.
==> 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.
Northern Technologies International's gross margin of this year was 0.36979693. Northern Technologies International's gross margin of last year was 0.39163953.
==> 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
Northern Technologies International's asset turnover of this year was 0.95127808. Northern Technologies International's asset turnover of last year was 0.96721912.
==> 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
Northern Technologies International has an F-score of 1. It is a bad or low score, which usually implies poor business operation.
Northern Technologies International (NTIC) has a Piotroski F-Score of 1 as of Jul. 05, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Northern Technologies International and its competitors. This is 83% below median its historical median of 6.00. Over the past decade, Northern Technologies International's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, Northern Technologies International ranks #1538 out of 1562 companies in the Chemicals industry, placing it in the top 98.5%.
Is Northern Technologies International's Piotroski F-Score too high?
Northern Technologies International's current Piotroski F-Score of 1 is 83% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Chemicals industry median Piotroski F-Score is 5.00. Northern Technologies International's value of 1 is 80% below this industry median. Based on the distribution chart, Northern Technologies International ranks #1538 out of 1562 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Northern Technologies International has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northern Technologies International's Piotroski F-Score compare to FSI and FEAM?
According to the Chemicals industry distribution chart, Northern Technologies International ranks #1538 out of 1562 companies for Piotroski F-Score. This places Northern Technologies International in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Northern Technologies International's value of 1 is 80% below this benchmark. Historically, Northern Technologies International's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Northern Technologies International 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,562 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. Northern Technologies International's current Piotroski F-Score of 1 is 80% 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 Northern Technologies International and its competitors. For the Chemicals 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. Northern Technologies International's current Piotroski F-Score is 1, which is 83% 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 Northern Technologies International stock overvalued right now?
Based on GuruFocus' analysis, Northern Technologies International (NTIC) is currently considered Possible Value Trap. The stock's GF Value™ is $13.76, compared to a current price of $8.63 — trading 37.3% below its estimated fair value. The current Piotroski F-Score is 1, which is 83% below median its 10-year median of 6.00 and 80% below the Chemicals industry median of 5.00. Northern Technologies International's overall GF Score™ is 56/100 with 4 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 Northern Technologies International (NTIC), the current Piotroski F-Score is 1 as of Jul. 05, 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 Northern Technologies International (NTIC) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Technologies International stock appears to be undervalued.
The current stock price of $8.63 is trading 37.3% below its estimated GF Value™ of $13.76.
GuruFocus considers Northern Technologies International to be Possible Value Trap.
Key valuation signals for NTIC:
Piotroski F-Score: 1 (83% below median its 10-year median of 6.00)
GF Value™: $13.76 vs. price of $8.63 (37.3% below fair value)
Industry Position: 80% below the Chemicals median (#1538 of 1562)
No single metric tells the full story. See the NTIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Technologies International Business Description
Northern Technologies International Corp is a United States-based firm that develops and markets proprietary, environmentally beneficial products and services world wide either directly or through a network of joint ventures, distributors, and agents. It operates through two segments, which include ZERUST products and services and Nature-Tec products. Its main business is providing corrosion prevention solutions that are marketed under the ZERUST brand. The company also sells a portfolio of bio-based and biodegradable (compostable) polymer resin compounds and finished products marketed under the Nature-Tec brand. The ZERUST brand generates a vast majority of the revenue for the company. The company generates the majority of its revenue in the United States.
56GF Score
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