Case Group AB (OSTO:CASE) Piotroski F-Score: 8 (As of Jul. 21, 2026) — 33% Above Median

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OSTO:CASE Case Group AB OSTO:CASE
83 GF Score
Price kr20.90
GF Value kr21.14
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Case Group AB Piotroski F-Score?

Case Group AB OSTO:CASE -1.42% 83 Piotroski F-Score is 8 as of Jul. 21, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates OSTO:CASE with a GF Score™ of 83/100 and a GF Value™ of kr21.14 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,594 Asset Management companies, Case Group AB ranks better than 99.25% on this metric.

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Case Group AB has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Case Group AB's Piotroski F-Score or its related term are showing as below:

OSTO:CASE' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 8

During the past 7 years, the highest Piotroski F-Score of Case Group AB was 9. The lowest was 2. And the median was 6.

Case Group AB  (OSTO:CASE) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Case Group AB Piotroski F-Score Related Terms


Case Group AB Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Case Group AB'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.

Case Group AB Piotroski F-Score Chart

Case Group AB Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial N/A 2.00 5.00 7.00 8.00

Case Group AB Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 9.00 8.00 8.00

OSTO:CASE vs BLK, BX, KKR: Piotroski F-Score Comparison

For the Asset Management subindustry, Case Group AB'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.


Case Group AB Piotroski F-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Case Group AB's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Case Group AB's Piotroski F-Score falls into.


OSTO:CASE
83GF Score
Case Group AB OSTO:CASE
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 9.498 + 11.513 + 11.499 + 5.908 = kr38.4 Mil.
Cash Flow from Operations was -16.383 + 37.808 + 12.218 + -0.233 = kr33.4 Mil.
Revenue was 50.776 + 57.211 + 53.763 + 49.622 = kr211.4 Mil.
Gross Profit was 25.712 + 30.575 + 29.218 + 24.502 = kr110.0 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(361.835 + 369.81 + 384.821 + 395.99 + 388.733) / 5 = kr380.2378 Mil.
Total Assets at the begining of this year (Mar25) was kr361.8 Mil.
Long-Term Debt & Capital Lease Obligation was kr7.5 Mil.
Total Current Assets was kr97.1 Mil.
Total Current Liabilities was kr44.3 Mil.
Net Income was 2.391 + 8.969 + 6.883 + 9.552 = kr27.8 Mil.

Revenue was 39.23 + 46.116 + 47.251 + 50.251 = kr182.8 Mil.
Gross Profit was 17.781 + 22.853 + 23.078 + 25.841 = kr89.6 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(330.503 + 342.267 + 350.151 + 356.338 + 361.835) / 5 = kr348.2188 Mil.
Total Assets at the begining of last year (Mar24) was kr330.5 Mil.
Long-Term Debt & Capital Lease Obligation was kr17.5 Mil.
Total Current Assets was kr73.2 Mil.
Total Current Liabilities was kr45.8 Mil.

*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.

Case Group AB's current Net Income (TTM) was 38.4. ==> 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.

Score 1 if positive, 0 if negative.

Case Group AB's current Cash Flow from Operations (TTM) was 33.4. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=38.418/361.835
=0.10617547

ROA (Last Year)=Net Income/Total Assets (Mar24)
=27.795/330.503
=0.08409909

Case Group AB's return on assets of this year was 0.10617547. Case Group AB's return on assets of last year was 0.08409909. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Case Group AB's current Net Income (TTM) was 38.4. Case Group AB's current Cash Flow from Operations (TTM) was 33.4. ==> 33.4 <= 38.4 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=7.5/380.2378
=0.0197245

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=17.5/348.2188
=0.05025576

Case Group AB's gearing of this year was 0.0197245. Case Group AB's gearing of last year was 0.05025576. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=97.102/44.315
=2.1911768

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=73.158/45.836
=1.59608168

Case Group AB's current ratio of this year was 2.1911768. Case Group AB's current ratio of last year was 1.59608168. ==> 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.

Case Group AB's number of shares in issue this year was 32.184. Case Group AB's number of shares in issue last year was 32.184. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=110.007/211.372
=0.52044263

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=89.553/182.848
=0.48976746

Case Group AB's gross margin of this year was 0.52044263. Case Group AB's gross margin of last year was 0.48976746. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=211.372/361.835
=0.58416682

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=182.848/330.503
=0.55324157

Case Group AB's asset turnover of this year was 0.58416682. Case Group AB's asset turnover of last year was 0.55324157. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Case Group AB has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
Case Group AB (OSTO:CASE) has a Piotroski F-Score of 8 as of Jul. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Case Group AB and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Case Group AB's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Case Group AB ranks #12 out of 1594 companies in the Asset Management industry, placing it in the top 0.8%.
Is Case Group AB's Piotroski F-Score too high?
Case Group AB's current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Asset Management industry median Piotroski F-Score is 5.00. Case Group AB's value of 8 is 60% above this industry median. Based on the distribution chart, Case Group AB ranks #12 out of 1594 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Case Group AB has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Case Group AB's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Case Group AB ranks #12 out of 1594 companies for Piotroski F-Score. This places Case Group AB in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Case Group AB's value of 8 is 60% above this benchmark. Historically, Case Group AB's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Case Group AB has consistently been above 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,594 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. Case Group AB's current Piotroski F-Score of 8 is 60% above 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 Case Group AB and its competitors. For the Asset 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. Case Group AB's current Piotroski F-Score is 8, which is 33% above 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 Case Group AB stock overvalued right now?
Based on GuruFocus' analysis, Case Group AB (OSTO:CASE) is currently considered Fairly Valued. The stock's GF Value™ is kr21.14, compared to a current price of kr20.90 — trading 1.1% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Asset Management industry median of 5.00. Case Group AB's overall GF Score™ is 83/100 with 3 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 Case Group AB (OSTO:CASE), the current Piotroski F-Score is 8 as of Jul. 21, 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 Case Group AB (OSTO:CASE) Overvalued in 2026?

Based on GuruFocus' analysis, Case Group AB stock appears to be undervalued. The current stock price of kr20.90 is trading 1.1% below its estimated GF Value™ of kr21.14. GuruFocus considers Case Group AB to be Fairly Valued.

Key valuation signals for OSTO:CASE:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: kr21.14 vs. price of kr20.90 (1.1% below fair value)
  • GF Score™: 83/100 with 3 warning signs
  • Industry Position: 60% above the Asset Management median (#12 of 1594)

No single metric tells the full story. See the OSTO:CASE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Case Group AB Business Description

Other Exchanges V9E:Germany
Address Norrlandsgatan 10 c, Stockholm, SWE, 102 49
Case Group AB is an independent fund manager. Its business concept is to offer wealth-creating asset management with the goal of offering savers a good risk-adjusted return.
83GF Score

Get the complete analysis for OSTO:CASE

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr20.90
Price
kr21.14
GF Value