RUBNF (ArborGen Holdings) Piotroski F-Score: 7 (As of Jul. 12, 2026) — 40% Above Median


What is ArborGen Holdings Piotroski F-Score?

ArborGen Holdings RUBNF -11.11% Piotroski F-Score is 7 as of Jul. 12, 2026, which is 40% above its 10-year median of 5.00. The stock has 5 warning signs investors should review. Among 282 Forest Products companies, ArborGen Holdings ranks better than 93.97% on this metric.

Good Sign:

Piotroski F-Score is 7, 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

ArborGen Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

RUBNF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of ArborGen Holdings was 8. The lowest was 3. And the median was 5.

ArborGen Holdings  (OTCPK:RUBNF) 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.


ArborGen Holdings Piotroski F-Score Related Terms


ArborGen Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for ArborGen Holdings'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.

ArborGen Holdings Piotroski F-Score Chart

ArborGen Holdings Annual Data
Trend Jun15 Jun16 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 4.00 4.00 3.00 7.00

ArborGen Holdings Semi-Annual Data
Dec15 Jun16 Dec16 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 4.00 0.00 3.00 0.00 7.00

RUBNF vs SSD, UFPI, BCC: Piotroski F-Score Comparison

For the Lumber & Wood Production subindustry, ArborGen Holdings'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.


ArborGen Holdings Piotroski F-Score vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, ArborGen Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ArborGen Holdings's Piotroski F-Score falls into.


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 $-7.68 Mil.
Cash Flow from Operations was $3.79 Mil.
Revenue was $70.69 Mil.
Gross Profit was $21.11 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (176.127 + 178.676) / 2 = $177.4015 Mil.
Total Assets at the begining of this year (Mar25) was $176.13 Mil.
Long-Term Debt & Capital Lease Obligation was $38.01 Mil.
Total Current Assets was $68.75 Mil.
Total Current Liabilities was $15.37 Mil.
Net Income was $-21.58 Mil.

Revenue was $63.43 Mil.
Gross Profit was $18.27 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (267.693 + 176.127) / 2 = $221.91 Mil.
Total Assets at the begining of last year (Mar24) was $267.69 Mil.
Long-Term Debt & Capital Lease Obligation was $29.20 Mil.
Total Current Assets was $68.54 Mil.
Total Current Liabilities was $16.86 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.

ArborGen Holdings's current Net Income (TTM) was -7.68. ==> 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.

ArborGen Holdings's current Cash Flow from Operations (TTM) was 3.79. ==> 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)
=-7.684/176.127
=-0.04362761

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-21.577/267.693
=-0.08060353

ArborGen Holdings's return on assets of this year was -0.04362761. ArborGen Holdings's return on assets of last year was -0.08060353. ==> 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.

ArborGen Holdings's current Net Income (TTM) was -7.68. ArborGen Holdings's current Cash Flow from Operations (TTM) was 3.79. ==> 3.79 > -7.68 ==> 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
=38.009/177.4015
=0.21425411

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=29.204/221.91
=0.1316029

ArborGen Holdings's gearing of this year was 0.21425411. ArborGen Holdings's gearing of last year was 0.1316029. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=68.745/15.368
=4.47325612

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=68.544/16.86
=4.06548043

ArborGen Holdings's current ratio of this year was 4.47325612. ArborGen Holdings's current ratio of last year was 4.06548043. ==> 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.

ArborGen Holdings's number of shares in issue this year was 506.044. ArborGen Holdings's number of shares in issue last year was 520.849. ==> 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
=21.105/70.692
=0.29854863

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=18.265/63.426
=0.28797339

ArborGen Holdings's gross margin of this year was 0.29854863. ArborGen Holdings's gross margin of last year was 0.28797339. ==> 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)
=70.692/176.127
=0.40136947

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=63.426/267.693
=0.23693559

ArborGen Holdings's asset turnover of this year was 0.40136947. ArborGen Holdings's asset turnover of last year was 0.23693559. ==> 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
=0+1+1+1+0+1+1+1+1
=7

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

ArborGen Holdings has an F-score of 7. 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 7 mean?
ArborGen Holdings (RUBNF) has a Piotroski F-Score of 7 as of Jul. 12, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ArborGen Holdings and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, ArborGen Holdings' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, ArborGen Holdings ranks #17 out of 282 companies in the Forest Products industry, placing it in the top 6%.
Is ArborGen Holdings' Piotroski F-Score too high?
ArborGen Holdings' current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Forest Products industry median Piotroski F-Score is 5.00. ArborGen Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, ArborGen Holdings ranks #17 out of 282 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers.
How does ArborGen Holdings' Piotroski F-Score compare to SSD and UFPI?
According to the Forest Products industry distribution chart, ArborGen Holdings ranks #17 out of 282 companies for Piotroski F-Score. This places ArborGen Holdings in the top 6% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. ArborGen Holdings' value of 7 is 40% above this benchmark. Historically, ArborGen Holdings' own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, ArborGen Holdings 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 a Forest Products company?
The median Piotroski F-Score among Forest Products companies is 5.00, based on 282 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. ArborGen Holdings's current Piotroski F-Score of 7 is 40% 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 ArborGen Holdings and its competitors. For the Forest 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. ArborGen Holdings's current Piotroski F-Score is 7, which is 40% above 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 ArborGen Holdings stock overvalued right now?
Based on GuruFocus' analysis, ArborGen Holdings (RUBNF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.08, compared to a current price of $0.04 — trading 50% below its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Forest Products industry median of 5.00. 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 ArborGen Holdings (RUBNF), the current Piotroski F-Score is 7 as of Jul. 12, 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.

ArborGen Holdings Business Description

Other Exchanges ARB:New Zealand
Address Victoria Street West, PO Box 68 249, Auckland, NZL, 1142
ArborGen Holdings Ltd is a producer of tree seedling products and a provider of conventional and technology-enhanced seedlings to the forestry industry. Seedlings are sold to landowners and managers. The Company has one reportable segment, being forestry genetics. The Company's revenues are earned from the sale of seedlings or tree stocks and logistics services to customers. The firm focuses on loblolly pine, radiata pine, and eucalyptus.