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Nordic Halibut ASOSL:NOHAL 71 Piotroski F-Score is 2 as of Aug. 04, 2026, which is 50% below its 10-year median of 4.00. GuruFocus rates OSL:NOHAL with a GF Score™ of 71/100 and a GF Value™ of kr21.45 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 1,913 Consumer Packaged Goods companies, Nordic Halibut AS ranks worse than 94.93% on this metric.
Warning Sign:
Piotroski F-Score of 2 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
Nordic Halibut AS has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Nordic Halibut AS's Piotroski F-Score or its related term are showing as below:
OSL:NOHAL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 4 Max: 5
Current: 2
During the past 12 years, the highest Piotroski F-Score of Nordic Halibut AS was 5. The lowest was 1. And the median was 4.
Nordic Halibut AS (OSL:NOHAL) 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.
Nordic Halibut AS Piotroski F-Score Related Terms
Nordic Halibut AS Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Nordic Halibut 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.
OSL:NOHAL vs ADM, BG, TSN: Piotroski F-Score Comparison
For the Farm Products subindustry, Nordic Halibut 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.
Nordic Halibut AS Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Nordic Halibut AS's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nordic Halibut 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.
Nordic Halibut AS's current Net Income (TTM) was -53.4.
==> 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.
Nordic Halibut AS's return on assets of this year was -0.0604852. Nordic Halibut AS's return on assets of last year was -0.10911081.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nordic Halibut AS's gearing of this year was 0.29111571. Nordic Halibut AS's gearing of last year was 0.12453806.
==> 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
Nordic Halibut AS's current ratio of this year was 1.51859454. Nordic Halibut AS's current ratio of last year was 4.72487433.
==> 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.
Nordic Halibut AS's number of shares in issue this year was 53.378. Nordic Halibut AS's number of shares in issue last year was 38.438.
==> 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.
Nordic Halibut AS's gross margin of this year was 1.22727212. Nordic Halibut AS's gross margin of last year was 1.19312831.
==> 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
Nordic Halibut AS's asset turnover of this year was 0.16868794. Nordic Halibut AS's asset turnover of last year was 0.16983089.
==> 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
Nordic Halibut AS has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Nordic Halibut AS (OSL:NOHAL) has a Piotroski F-Score of 2 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nordic Halibut AS and its competitors. This is 50% below median its historical median of 4.00. Over the past decade, Nordic Halibut AS's Piotroski F-Score has ranged from 1.00 to 5.00. According to the industry distribution chart, Nordic Halibut AS ranks #1816 out of 1913 companies in the Consumer Packaged Goods industry, placing it in the top 94.9%.
Is Nordic Halibut AS's Piotroski F-Score too high?
Nordic Halibut AS's current Piotroski F-Score of 2 is 50% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 5.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Nordic Halibut AS's value of 2 is 60% below this industry median. Based on the distribution chart, Nordic Halibut AS ranks #1816 out of 1913 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Nordic Halibut AS has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nordic Halibut AS's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Nordic Halibut AS ranks #1816 out of 1913 companies for Piotroski F-Score. This places Nordic Halibut AS in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Nordic Halibut AS's value of 2 is 60% below this benchmark. Historically, Nordic Halibut AS's own Piotroski F-Score has ranged from 1.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Nordic Halibut 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 1,913 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. Nordic Halibut AS's current Piotroski F-Score of 2 is 60% 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 Nordic Halibut 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. Nordic Halibut AS's current Piotroski F-Score is 2, which is 50% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nordic Halibut AS stock overvalued right now?
Based on GuruFocus' analysis, Nordic Halibut AS (OSL:NOHAL) is currently considered Modestly Overvalued. The stock's GF Value™ is kr21.45, compared to a current price of kr26.60 — trading 24% above its estimated fair value. The current Piotroski F-Score is 2, which is 50% below median its 10-year median of 4.00 and 60% below the Consumer Packaged Goods industry median of 5.00. Nordic Halibut AS's overall GF Score™ is 71/100 with 10 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 Nordic Halibut AS (OSL:NOHAL), the current Piotroski F-Score is 2 as of Aug. 04, 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 Nordic Halibut AS (OSL:NOHAL) Overvalued in 2026?
Based on GuruFocus' analysis, Nordic Halibut AS stock appears to be overvalued.
The current stock price of kr26.60 is trading 24% above its estimated GF Value™ of kr21.45.
GuruFocus considers Nordic Halibut AS to be Modestly Overvalued.
Key valuation signals for OSL:NOHAL:
Piotroski F-Score: 2 (50% below median its 10-year median of 4.00)
GF Value™: kr21.45 vs. price of kr26.60 (24% above fair value)
Industry Position: 60% below the Consumer Packaged Goods median (#1816 of 1913)
No single metric tells the full story. See the OSL:NOHAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nordic Halibut AS is a producer of farmed Atlantic halibut in the world. Its products include Fresh Nordic Halibut on ice and Frozen portions. Geographically it operates in Norway, which generates maximum revenue, the USA, the UK, and Asia and Other markets.
71GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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