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
Chordate Medical Holding AB 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 Chordate Medical Holding AB's Piotroski F-Score or its related term are showing as below:
OSTO:CMH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 6
Current: 3
During the past 10 years, the highest Piotroski F-Score of Chordate Medical Holding AB was 6. The lowest was 2. And the median was 5.
Chordate Medical Holding AB (OSTO:CMH) 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.
Chordate Medical Holding AB Piotroski F-Score Related Terms
Chordate Medical Holding AB 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.
Chordate Medical Holding AB Piotroski F-Score Chart
OSTO:CMH vs ABT, SYK, MDT: Piotroski F-Score Comparison
For the Medical Devices subindustry, Chordate Medical Holding 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.
Chordate Medical Holding AB Piotroski F-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Chordate Medical Holding AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Chordate Medical Holding AB'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.
Chordate Medical Holding AB's current Net Income (TTM) was -25.16.
==> 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.
Chordate Medical Holding AB's current Cash Flow from Operations (TTM) was -24.69.
==> 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.
Chordate Medical Holding AB's return on assets of this year was -0.94398379. Chordate Medical Holding AB's return on assets of last year was -0.79116786.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Chordate Medical Holding AB's gearing of this year was 0. Chordate Medical Holding AB's gearing of last year was 0.
==> 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
Chordate Medical Holding AB's current ratio of this year was 1.97031137. Chordate Medical Holding AB's current ratio of last year was 2.65278241.
==> 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.
Chordate Medical Holding AB's number of shares in issue this year was 2.7. Chordate Medical Holding AB's number of shares in issue last year was 0.977.
==> 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.
Chordate Medical Holding AB's gross margin of this year was 0.81369587. Chordate Medical Holding AB's gross margin of last year was 2.19128114.
==> 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
Chordate Medical Holding AB's asset turnover of this year was 0.03725659. Chordate Medical Holding AB's asset turnover of last year was 0.03196178.
==> 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
Chordate Medical Holding AB has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Chordate Medical Holding AB (OSTO:CMH) has a Piotroski F-Score of 3 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Chordate Medical Holding AB and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Chordate Medical Holding AB's Piotroski F-Score has ranged from 2.00 to 6.00.
Is Chordate Medical Holding AB's Piotroski F-Score too high?
Chordate Medical Holding AB'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 6.00. The Medical Devices & Instruments industry median Piotroski F-Score is 5.00. Chordate Medical Holding AB's value of 3 is 40% below this industry median. Overall, Chordate Medical Holding AB has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Chordate Medical Holding AB's Piotroski F-Score compare to ABT and SYK?
Chordate Medical Holding AB's Piotroski F-Score of 3 can be compared against companies in the Medical Devices & Instruments industry. The industry median Piotroski F-Score is 5.00. Chordate Medical Holding AB's value of 3 is 40% below this benchmark. Historically, Chordate Medical Holding AB's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Chordate Medical Holding AB 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 Medical Devices & Instruments company?
The median Piotroski F-Score among Medical Devices & Instruments companies is 5.00, based on 807 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. Chordate Medical Holding AB'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 Chordate Medical Holding AB and its competitors. For the Medical Devices & Instruments 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. Chordate Medical Holding AB'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 Chordate Medical Holding AB stock overvalued right now?
Chordate Medical Holding AB (OSTO:CMH) has a current Piotroski F-Score of 3. The stock's GF Value™ is kr26.18, compared to a current price of kr0.16 — trading 99.4% 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 Medical Devices & Instruments industry median of 5.00. Chordate Medical Holding AB's overall GF Score™ is 46/100 with 6 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 Chordate Medical Holding AB (OSTO:CMH), the current Piotroski F-Score is 3 as of Jun. 28, 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 Chordate Medical Holding AB (OSTO:CMH) Overvalued in 2026?
Based on GuruFocus' analysis, Chordate Medical Holding AB stock appears to be undervalued.
The current stock price of kr0.16 is trading 99.4% below its estimated GF Value™ of kr26.18.
Key valuation signals for OSTO:CMH:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: kr26.18 vs. price of kr0.16 (99.4% below fair value)
Industry Position: 40% below the Medical Devices & Instruments median
No single metric tells the full story. See the OSTO:CMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chordate Medical Holding AB is a medical technology company that has developed patented and CE-marked a new nerve-modulating treatment technology for chronic nasal congestion and chronic migraine. The company sells its products in Selected European markets, Israel, and Saudi Arabia. The company's product range is based on the CE-marked treatment units Chordate System S100 and S120 for rhinitis and S220 for migraine, registered for the indications of preventive treatment of chronic migraine and chronic rhinitis and use on patients. The company sells its product system, including treatments, through distributors to clinics and hospitals in its primary markets.
46GF Score
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