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Gapwaves ABOSTO:GAPW B +0.82%77 Piotroski F-Score is 3 as of Aug. 28, 2026, which is 25% below its 10-year median of 4.00. GuruFocus rates OSTO:GAPW B with a GF Score™ of 77/100 and a GF Value™ of kr19.53 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,441 Hardware companies, Gapwaves AB ranks worse than 81.89% 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
Gapwaves 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 Gapwaves AB's Piotroski F-Score or its related term are showing as below:
OSTO:GAPW B'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 5
Current: 3
During the past 12 years, the highest Piotroski F-Score of Gapwaves AB was 5. The lowest was 2. And the median was 4.
Gapwaves AB (OSTO:GAPW B) 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.
Gapwaves AB Piotroski F-Score Related Terms
Gapwaves AB Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Gapwaves 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.
OSTO:GAPW B vs CSCO, MSI, HPE: Piotroski F-Score Comparison
For the Communication Equipment subindustry, Gapwaves 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.
Gapwaves AB Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Gapwaves AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Gapwaves 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.
Gapwaves AB's current Net Income (TTM) was -72.47.
==> 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.
Gapwaves AB's return on assets of this year was -0.61733412. Gapwaves AB's return on assets of last year was -0.26964745.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Gapwaves AB's current ratio of this year was 2.61503893. Gapwaves AB's current ratio of last year was 2.2683274.
==> 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.
Gapwaves AB's number of shares in issue this year was 36.337. Gapwaves AB's number of shares in issue last year was 31.649.
==> 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.
Gapwaves AB's gross margin of this year was 0.38965764. Gapwaves AB's gross margin of last year was 0.62936582.
==> 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
Gapwaves AB's asset turnover of this year was 0.64395546. Gapwaves AB's asset turnover of last year was 0.54583855.
==> 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
Gapwaves AB has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Gapwaves AB (OSTO:GAPW B) has a Piotroski F-Score of 3 as of Aug. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Gapwaves AB and its competitors. This is 25% below median its historical median of 4.00. Over the past decade, Gapwaves AB's Piotroski F-Score has ranged from 2.00 to 5.00. According to the industry distribution chart, Gapwaves AB ranks #1999 out of 2441 companies in the Hardware industry, placing it in the top 81.9%.
Is Gapwaves AB's Piotroski F-Score too high?
Gapwaves AB's current Piotroski F-Score of 3 is 25% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.00. The Hardware industry median Piotroski F-Score is 5.00. Gapwaves AB's value of 3 is 40% below this industry median. Based on the distribution chart, Gapwaves AB ranks #1999 out of 2441 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Gapwaves AB has a GF Score™ of 77/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Gapwaves AB's Piotroski F-Score compare to CSCO and MSI?
According to the Hardware industry distribution chart, Gapwaves AB ranks #1999 out of 2441 companies for Piotroski F-Score. This places Gapwaves AB in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Gapwaves AB's value of 3 is 40% below this benchmark. Historically, Gapwaves AB's own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Gapwaves 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,441 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. Gapwaves 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 Gapwaves AB and its competitors. For the Hardware 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. Gapwaves AB's current Piotroski F-Score is 3, which is 25% 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 Gapwaves AB stock overvalued right now?
Based on GuruFocus' analysis, Gapwaves AB (OSTO:GAPW B) is currently considered Possible Value Trap. The stock's GF Value™ is kr19.53, compared to a current price of kr12.28 — trading 37.1% below its estimated fair value. The current Piotroski F-Score is 3, which is 25% below median its 10-year median of 4.00 and 40% below the Hardware industry median of 5.00. Gapwaves AB's overall GF Score™ is 77/100 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 Gapwaves AB (OSTO:GAPW B), the current Piotroski F-Score is 3 as of Aug. 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 Gapwaves AB (OSTO:GAPW B) Overvalued in 2026?
Based on GuruFocus' analysis, Gapwaves AB stock appears to be undervalued.
The current stock price of kr12.28 is trading 37.1% below its estimated GF Value™ of kr19.53.
GuruFocus considers Gapwaves AB to be Possible Value Trap.
Key valuation signals for OSTO:GAPW B:
Piotroski F-Score: 3 (25% below median its 10-year median of 4.00)
GF Value™: kr19.53 vs. price of kr12.28 (37.1% below fair value)
Industry Position: 40% below the Hardware median (#1999 of 2441)
No single metric tells the full story. See the OSTO:GAPW B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gapwaves AB is a Swedish technology company that develops, designs, manufactures, and delivers wireless solutions based on its patented waveguide technology for millimeter wave applications. Its products are mainly used in antennas for radar systems that support driver assistance, autonomous driving, and automotive safety solutions, along with applications in industrial automation, telecom, smart cities, and civil military sectors. It focuses on two key markets for waveguide antennas, namely radar and wireless communication, and is expanding the use of its technology in both areas. Its segments are Automotive, Smart Cities, Mobility, and Defense, each covering a range of growing application areas, and it has a geographic presence in Sweden, the European Union, and the rest of the world.
77GF Score
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