Natuzzi SpANTZ +1.05%34 Piotroski F-Score is 3 as of Jun. 25, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates NTZ with a GF Score™ of 34/100 and a GF Value™ of $4.36 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 428 Furnishings, Fixtures & Appliances companies, Natuzzi SpA ranks worse than 79.44% on this metric.
Warning Sign:
Piotroski F-Score of 3 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
Natuzzi SpA has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Natuzzi SpA's Piotroski F-Score or its related term are showing as below:
NTZ'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 3
During the past 13 years, the highest Piotroski F-Score of Natuzzi SpA was 7. The lowest was 2. And the median was 5.
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.
Natuzzi SpA Piotroski F-Score Related Terms
Natuzzi SpA Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Natuzzi SpA'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.
NTZ vs EFOI, SNBR, CRWS: Piotroski F-Score Comparison
For the Furnishings, Fixtures & Appliances subindustry, Natuzzi SpA'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.
Natuzzi SpA Piotroski F-Score vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Natuzzi SpA's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Natuzzi SpA'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.
Natuzzi SpA's current Net Income (TTM) was -34.6.
==> 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.
Natuzzi SpA's return on assets of this year was -0.1035482. Natuzzi SpA's return on assets of last year was -0.04439361.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Natuzzi SpA's gearing of this year was 0.22052293. Natuzzi SpA's gearing of last year was 0.18062281.
==> 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
Natuzzi SpA's current ratio of this year was 0.8455814. Natuzzi SpA's current ratio of last year was 0.90578805.
==> 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.
Natuzzi SpA's number of shares in issue this year was 11.015. Natuzzi SpA's number of shares in issue last year was 11.015.
==> 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.
Natuzzi SpA's gross margin of this year was 0.33529742. Natuzzi SpA's gross margin of last year was 0.36251361.
==> 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
Natuzzi SpA's asset turnover of this year was 1.05621496. Natuzzi SpA's asset turnover of last year was 0.9333093.
==> 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
Natuzzi SpA has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Natuzzi SpA (NTZ) has a Piotroski F-Score of 3 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Natuzzi SpA and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Natuzzi SpA's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Natuzzi SpA ranks #340 out of 428 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 79.4%.
Is Natuzzi SpA's Piotroski F-Score too high?
Natuzzi SpA's current Piotroski F-Score of 3 is 40% 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 Furnishings, Fixtures & Appliances industry median Piotroski F-Score is 5.00. Natuzzi SpA's value of 3 is 40% below this industry median. Based on the distribution chart, Natuzzi SpA ranks #340 out of 428 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Natuzzi SpA has a GF Score™ of 34/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Natuzzi SpA's Piotroski F-Score compare to EFOI and SNBR?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Natuzzi SpA ranks #340 out of 428 companies for Piotroski F-Score. This places Natuzzi SpA in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Natuzzi SpA's value of 3 is 40% below this benchmark. Historically, Natuzzi SpA's 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, Natuzzi SpA 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 Furnishings, Fixtures & Appliances company?
The median Piotroski F-Score among Furnishings, Fixtures & Appliances 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. Natuzzi SpA's current Piotroski F-Score of 3 is 40% 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 Natuzzi SpA and its competitors. For the Furnishings, Fixtures & Appliances 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. Natuzzi SpA's current Piotroski F-Score is 3, which is 40% 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 Natuzzi SpA stock overvalued right now?
Based on GuruFocus' analysis, Natuzzi SpA (NTZ) is currently considered Possible Value Trap. The stock's GF Value™ is $4.36, compared to a current price of $1.92 — trading 56% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Furnishings, Fixtures & Appliances industry median of 5.00. Natuzzi SpA's overall GF Score™ is 34/100 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 Natuzzi SpA (NTZ), the current Piotroski F-Score is 3 as of Jun. 25, 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 Natuzzi SpA (NTZ) Overvalued in 2026?
Based on GuruFocus' analysis, Natuzzi SpA stock appears to be undervalued.
The current stock price of $1.92 is trading 56% below its estimated GF Value™ of $4.36.
GuruFocus considers Natuzzi SpA to be Possible Value Trap.
Key valuation signals for NTZ:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: $4.36 vs. price of $1.92 (56% below fair value)
Industry Position: 40% below the Furnishings, Fixtures & Appliances median (#340 of 428)
No single metric tells the full story. See the NTZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Natuzzi SpA is an Italian firm that designs, manufactures, and sells contemporary and traditional leather and fabric-upholstered furniture. Its product portfolio includes sofas, loveseats, armchairs, sectional furniture, motion furniture, sofa beds, living room furnishings, and accessories. The company markets its products under several brands such as Natuzzi Italia, Private Label, and Natuzzi Editions. The Group operates in two operating segments, the Natuzzi brand and Private label. The Natuzzi brand segment includes net sales from the Natuzzi Italia, Natuzzi Editions, and Divani&Divani by Natuzzi product lines. Geographically, it derives a majority of its revenue from the United States of America and also has an international presence in Italy, Spain, the UK, China, and Other countries.
34GF Score
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