PCELF (PowerCell Sweden AB) Piotroski F-Score: 5 (As of Jun. 24, 2026) — Near Median


PCELF PowerCell Sweden AB PCELF
77 GF Score
Price $1.91
GF Value $3.03
Valuation Significantly Undervalued
! 3 Warning Signs
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What is PowerCell Sweden AB Piotroski F-Score?

PowerCell Sweden AB PCELF 77 Piotroski F-Score is 5 as of Jun. 24, 2026, which is at its 10-year median of 5.00. GuruFocus rates PCELF with a GF Score™ of 77/100 and a GF Value™ of $3.03 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,979 Industrial Products companies, PowerCell Sweden AB ranks better than 56.66% on this metric.

The zones of discrimination were as such:

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

PowerCell Sweden AB has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

PCELF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of PowerCell Sweden AB was 7. The lowest was 2. And the median was 5.

PowerCell Sweden AB  (OTCPK:PCELF) 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.


PowerCell Sweden AB Piotroski F-Score Related Terms


PowerCell Sweden AB Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for PowerCell Sweden 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.

PowerCell Sweden AB Piotroski F-Score Chart

PowerCell Sweden AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 2.00 4.00 5.00

PowerCell Sweden 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 3.00 5.00 5.00 5.00 5.00

PCELF vs VRT, BE, NVT: Piotroski F-Score Comparison

For the Electrical Equipment & Parts subindustry, PowerCell Sweden 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.


PowerCell Sweden AB Piotroski F-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, PowerCell Sweden AB's Piotroski F-Score distribution charts can be found below:

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


PCELF
77GF Score
PowerCell Sweden AB PCELF
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 2.347 + -1.629 + -2.257 + -4.268 = $-5.81 Mil.
Cash Flow from Operations was 0.726 + -6.124 + 10.957 + -9.947 = $-4.39 Mil.
Revenue was 13.613 + 9.154 + 10.23 + 5.039 = $38.04 Mil.
Gross Profit was 8.391 + 3.531 + 3.599 + 1.128 = $16.65 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(60.328 + 60.138 + 59.423 + 64.339 + 60.555) / 5 = $60.9566 Mil.
Total Assets at the begining of this year (Mar25) was $60.33 Mil.
Long-Term Debt & Capital Lease Obligation was $1.09 Mil.
Total Current Assets was $45.57 Mil.
Total Current Liabilities was $22.24 Mil.
Net Income was -0.817 + -1.555 + 0.212 + -1.549 = $-3.71 Mil.

Revenue was 6.32 + 7.024 + 13.116 + 7.314 = $33.77 Mil.
Gross Profit was 1.048 + 2.255 + 5.241 + 2.715 = $11.26 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(41.059 + 40.946 + 40.635 + 60.304 + 60.328) / 5 = $48.6544 Mil.
Total Assets at the begining of last year (Mar24) was $41.06 Mil.
Long-Term Debt & Capital Lease Obligation was $1.61 Mil.
Total Current Assets was $48.27 Mil.
Total Current Liabilities was $19.29 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.

PowerCell Sweden AB's current Net Income (TTM) was -5.81. ==> 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.

PowerCell Sweden AB's current Cash Flow from Operations (TTM) was -4.39. ==> 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.

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

ROA (This Year)=Net Income/Total Assets (Mar25)
=-5.807/60.328
=-0.09625713

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-3.709/41.059
=-0.09033342

PowerCell Sweden AB's return on assets of this year was -0.09625713. PowerCell Sweden AB's return on assets of last year was -0.09033342. ==> Last year is higher ==> Score 0.

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.

PowerCell Sweden AB's current Net Income (TTM) was -5.81. PowerCell Sweden AB's current Cash Flow from Operations (TTM) was -4.39. ==> -4.39 > -5.81 ==> CFROA > ROA ==> Score 1.

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
=1.089/60.9566
=0.01786517

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1.614/48.6544
=0.03317274

PowerCell Sweden AB's gearing of this year was 0.01786517. PowerCell Sweden AB's gearing of last year was 0.03317274. ==> 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
=45.572/22.239
=2.04919286

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=48.267/19.294
=2.50165855

PowerCell Sweden AB's current ratio of this year was 2.04919286. PowerCell Sweden AB's current ratio of last year was 2.50165855. ==> 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.

PowerCell Sweden AB's number of shares in issue this year was 57.892. PowerCell Sweden AB's number of shares in issue last year was 57.892. ==> 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
=16.649/38.036
=0.4377169

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=11.259/33.774
=0.33336294

PowerCell Sweden AB's gross margin of this year was 0.4377169. PowerCell Sweden AB's gross margin of last year was 0.33336294. ==> 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)
=38.036/60.328
=0.63048667

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=33.774/41.059
=0.8225724

PowerCell Sweden AB's asset turnover of this year was 0.63048667. PowerCell Sweden AB's asset turnover of last year was 0.8225724. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

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

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

PowerCell Sweden AB has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
PowerCell Sweden AB (PCELF) has a Piotroski F-Score of 5 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PowerCell Sweden AB and its competitors. This is near median its historical median of 5.00. Over the past decade, PowerCell Sweden AB's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, PowerCell Sweden AB ranks #1291 out of 2979 companies in the Industrial Products industry, placing it in the top 43.3%.
Is PowerCell Sweden AB's Piotroski F-Score too high?
PowerCell Sweden AB's current Piotroski F-Score of 5 is near 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 7.00. The Industrial Products industry median Piotroski F-Score is 5.00. PowerCell Sweden AB's value of 5 is 0% at this industry median. Based on the distribution chart, PowerCell Sweden AB ranks #1291 out of 2979 companies in the Industrial Products industry, which is above the industry midpoint. Overall, PowerCell Sweden AB has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PowerCell Sweden AB's Piotroski F-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, PowerCell Sweden AB ranks #1291 out of 2979 companies for Piotroski F-Score. This puts PowerCell Sweden AB in the upper half of its industry. The industry median Piotroski F-Score is 5.00. PowerCell Sweden AB's value of 5 is 0% at this benchmark. Historically, PowerCell Sweden AB's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, PowerCell Sweden AB has consistently been at 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 Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,979 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. PowerCell Sweden AB's current Piotroski F-Score of 5 is 0% at 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 PowerCell Sweden AB and its competitors. For the Industrial Products 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. PowerCell Sweden AB's current Piotroski F-Score is 5, which is near 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 PowerCell Sweden AB stock overvalued right now?
Based on GuruFocus' analysis, PowerCell Sweden AB (PCELF) is currently considered Significantly Undervalued. The stock's GF Value™ is $3.03, compared to a current price of $1.91 — trading 37% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Industrial Products industry median of 5.00. PowerCell Sweden AB's overall GF Score™ is 77/100 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 PowerCell Sweden AB (PCELF), the current Piotroski F-Score is 5 as of Jun. 24, 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 PowerCell Sweden AB (PCELF) Overvalued in 2026?

Based on GuruFocus' analysis, PowerCell Sweden AB stock appears to be undervalued. The current stock price of $1.91 is trading 37% below its estimated GF Value™ of $3.03. GuruFocus considers PowerCell Sweden AB to be Significantly Undervalued.

Key valuation signals for PCELF:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: $3.03 vs. price of $1.91 (37% below fair value)
  • GF Score™: 77/100 with 3 warning signs
  • Industry Position: 0% at the Industrial Products median (#1291 of 2979)

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


PowerCell Sweden AB Business Description

Address Ruskvadersgatan 12, Gothenburg, SWE, 418 34
PowerCell Sweden AB is a Swedish company active in the field of clean energy. It develops, manufactures, and produces environmentally friendly electrical power systems for aviation, power generation, marine, off-road, and on-road segments. The company has developed a system of fuel cell platforms that are powered by pure or reformed hydrogen gas and generate electricity and heat without releasing any emissions other than water. It also provides services like consultation, support, modification, and turnkey solutions to its clients for transitioning to hydrogen electrification. Geographically, the company generates maximum revenue from its business in Germany, and the rest from the United Kingdom, Norway, the United States, Sweden, the Netherlands, Italy, and other regions.
77GF Score

Get the complete analysis for PCELF

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

$1.91
Price
$3.03
GF Value