FirstFarms ASOCSE:FFARMS 57 Piotroski F-Score is 3 as of Jun. 29, 2026, which is 57% below its 10-year median of 7.00. GuruFocus rates OCSE:FFARMS with a GF Score™ of 57/100 and a GF Value™ of kr53.96 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 1,909 Consumer Packaged Goods companies, FirstFarms AS ranks worse than 84.81% 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
FirstFarms AS 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 FirstFarms AS's Piotroski F-Score or its related term are showing as below:
OCSE:FFARMS'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 7 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of FirstFarms AS was 8. The lowest was 3. And the median was 7.
FirstFarms AS (OCSE:FFARMS) 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.
FirstFarms AS Piotroski F-Score Related Terms
FirstFarms AS Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for FirstFarms AS'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.
OCSE:FFARMS vs ADM, BG, TSN: Piotroski F-Score Comparison
For the Farm Products subindustry, FirstFarms AS'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.
FirstFarms AS Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, FirstFarms AS's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where FirstFarms AS'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.
FirstFarms AS's current Net Income (TTM) was -20.6.
==> 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.
FirstFarms AS's return on assets of this year was -0.0122405. FirstFarms AS's return on assets of last year was 0.01082938.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
FirstFarms AS's gearing of this year was 0.30121638. FirstFarms AS's gearing of last year was 0.36042634.
==> 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
FirstFarms AS's current ratio of this year was 2.15676664. FirstFarms AS's current ratio of last year was 2.81460307.
==> 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.
FirstFarms AS's number of shares in issue this year was 12.232. FirstFarms AS's number of shares in issue last year was 11.138.
==> 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.
FirstFarms AS's gross margin of this year was 0.2483324. FirstFarms AS's gross margin of last year was 0.30975235.
==> 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
FirstFarms AS's asset turnover of this year was 0.24681969. FirstFarms AS's asset turnover of last year was 0.30259411.
==> 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
FirstFarms AS has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
FirstFarms AS (OCSE:FFARMS) has a Piotroski F-Score of 3 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on FirstFarms AS and its competitors. This is 57% below median its historical median of 7.00. Over the past decade, FirstFarms AS's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, FirstFarms AS ranks #1619 out of 1909 companies in the Consumer Packaged Goods industry, placing it in the top 84.8%.
Is FirstFarms AS's Piotroski F-Score too high?
FirstFarms AS's current Piotroski F-Score of 3 is 57% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. FirstFarms AS's value of 3 is 40% below this industry median. Based on the distribution chart, FirstFarms AS ranks #1619 out of 1909 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, FirstFarms AS has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does FirstFarms AS's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, FirstFarms AS ranks #1619 out of 1909 companies for Piotroski F-Score. This places FirstFarms AS in the lower half of its industry. The industry median Piotroski F-Score is 5.00. FirstFarms AS's value of 3 is 40% below this benchmark. Historically, FirstFarms AS's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, FirstFarms AS 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,909 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. FirstFarms AS'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 FirstFarms AS and its competitors. For the Consumer Packaged Goods 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. FirstFarms AS's current Piotroski F-Score is 3, which is 57% below 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 FirstFarms AS stock overvalued right now?
Based on GuruFocus' analysis, FirstFarms AS (OCSE:FFARMS) is currently considered Modestly Overvalued. The stock's GF Value™ is kr53.96, compared to a current price of kr68.80 — trading 27.5% above its estimated fair value. The current Piotroski F-Score is 3, which is 57% below median its 10-year median of 7.00 and 40% below the Consumer Packaged Goods industry median of 5.00. FirstFarms AS's overall GF Score™ is 57/100 with 9 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 FirstFarms AS (OCSE:FFARMS), the current Piotroski F-Score is 3 as of Jun. 29, 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 FirstFarms AS (OCSE:FFARMS) Overvalued in 2026?
Based on GuruFocus' analysis, FirstFarms AS stock appears to be overvalued.
The current stock price of kr68.80 is trading 27.5% above its estimated GF Value™ of kr53.96.
GuruFocus considers FirstFarms AS to be Modestly Overvalued.
Key valuation signals for OCSE:FFARMS:
Piotroski F-Score: 3 (57% below median its 10-year median of 7.00)
GF Value™: kr53.96 vs. price of kr68.80 (27.5% above fair value)
Industry Position: 40% below the Consumer Packaged Goods median (#1619 of 1909)
No single metric tells the full story. See the OCSE:FFARMS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FirstFarms AS is an agricultural company operating in the area of agriculture and food products. Its business consists of four branches of operation: crops, milk, pigs and development of the land portfolio. Geographically, the group's segments are Romania, Slovakia, Hungary, the Czech Republic, and Denmark. The majority of the company's revenue is derived from Slovakia. The company's revenue consists of the sale of Milk, Cows and calves, piglets and slaughter pigs, crops and others.
57GF Score
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