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Ades Holding CoSAU:2382 +0.73%11 Piotroski F-Score is 6 as of Jul. 25, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates SAU:2382 with a GF Score™ of 11/100. The stock has 9 warning signs investors should review. Among 973 Oil & Gas companies, Ades Holding Co ranks better than 80.37% 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
Ades Holding Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Ades Holding Co's Piotroski F-Score or its related term are showing as below:
SAU:2382'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 5 Max: 6
Current: 6
During the past 3 years, the highest Piotroski F-Score of Ades Holding Co was 6. The lowest was 4. And the median was 5.
Ades Holding Co (SAU:2382) 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.
Ades Holding Co Piotroski F-Score Related Terms
Ades Holding Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Ades Holding Co'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.
SAU:2382 vs NE, RIG, VAL: Piotroski F-Score Comparison
For the Oil & Gas Drilling subindustry, Ades Holding Co'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.
Ades Holding Co Piotroski F-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ades Holding Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ades Holding Co'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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 188.603 + 214.573 + 220.685 + 236.442 = ﷼860 Mil. Cash Flow from Operations was 535.041 + 774.368 + 1045.827 + 760.907 = ﷼3,116 Mil. Revenue was 1578.826 + 1653.934 + 1986.061 + 2390.736 = ﷼7,610 Mil. Gross Profit was 592.833 + 605.416 + 744.658 + 878.849 = ﷼2,822 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(21325.074 + 22300.057 + 22639.706 + 31411.709 + 31646.491) / 5 = ﷼25864.6074 Mil. Total Assets at the begining of this year (Mar25) was ﷼21,325 Mil. Long-Term Debt & Capital Lease Obligation was ﷼18,199 Mil. Total Current Assets was ﷼5,744 Mil. Total Current Liabilities was ﷼5,596 Mil.
Net Income was 198.47 + 199.617 + 207.05 + 194.155 = ﷼799 Mil.
Revenue was 1525.287 + 1572.596 + 1569.069 + 1470.138 = ﷼6,137 Mil. Gross Profit was 574.024 + 615.547 + 565.392 + 590.184 = ﷼2,345 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(20183.373 + 20560.888 + 21055.975 + 21628.69 + 21325.074) / 5 = ﷼20950.8 Mil. Total Assets at the begining of last year (Mar24) was ﷼20,183 Mil. Long-Term Debt & Capital Lease Obligation was ﷼10,936 Mil. Total Current Assets was ﷼2,829 Mil. Total Current Liabilities was ﷼2,936 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.
Ades Holding Co's current Net Income (TTM) was 860.
==> 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.
Ades Holding Co's return on assets of this year was 0.04034232. Ades Holding Co's return on assets of last year was 0.03960151.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Ades Holding Co's gearing of this year was 0.70362259. Ades Holding Co's gearing of last year was 0.52199639.
==> 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
Ades Holding Co's current ratio of this year was 1.02632871. Ades Holding Co's current ratio of last year was 0.96346319.
==> 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.
Ades Holding Co's number of shares in issue this year was 1104.15. Ades Holding Co's number of shares in issue last year was 1100.936.
==> 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.
Ades Holding Co's gross margin of this year was 0.37081738. Ades Holding Co's gross margin of last year was 0.38212687.
==> 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
Ades Holding Co's asset turnover of this year was 0.35683614. Ades Holding Co's asset turnover of last year was 0.30406662.
==> 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
Ades Holding Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Ades Holding Co (SAU:2382) has a Piotroski F-Score of 6 as of Jul. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ades Holding Co and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Ades Holding Co's Piotroski F-Score has ranged from 4.00 to 6.00. According to the industry distribution chart, Ades Holding Co ranks #191 out of 973 companies in the Oil & Gas industry, placing it in the top 19.6%.
Is Ades Holding Co's Piotroski F-Score too high?
Ades Holding Co's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 6.00. The Oil & Gas industry median Piotroski F-Score is 5.00. Ades Holding Co's value of 6 is 20% above this industry median. Based on the distribution chart, Ades Holding Co ranks #191 out of 973 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Ades Holding Co has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Ades Holding Co's Piotroski F-Score compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Ades Holding Co ranks #191 out of 973 companies for Piotroski F-Score. This places Ades Holding Co in the top 20% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Ades Holding Co's value of 6 is 20% above this benchmark. Historically, Ades Holding Co's own Piotroski F-Score has ranged from 4.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Ades Holding Co 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 Oil & Gas company?
The median Piotroski F-Score among Oil & Gas companies is 5.00, based on 973 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. Ades Holding Co's current Piotroski F-Score of 6 is 20% 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 Ades Holding Co and its competitors. For the Oil & Gas 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. Ades Holding Co's current Piotroski F-Score is 6, which is 20% 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 Ades Holding Co stock overvalued right now?
Ades Holding Co (SAU:2382) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Oil & Gas industry median of 5.00. Ades Holding Co's overall GF Score™ is 11/100 with 9 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 Ades Holding Co (SAU:2382), the current Piotroski F-Score is 6 as of Jul. 25, 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.
Ades Holding Co is an oil and gas drilling and production services provider in the Middle East, Africa, Southeast Asia, and Europe. Its services mainly include offshore and onshore contract drilling and production services. The Group's offshore services include drilling and workover services and Mobile Offshore Production Unit (MOPU) production services, as well as accommodation, catering, and other barge-based support services. Additionally, it provides project services, which mainly include oil field enhancement (exploration and production). Ades's geographical operating segments are: Egypt, which derives maximum revenue, Algeria and Tunisia, the Kingdom of Saudi Arabia, Kuwait, Qatar, India, Southeast Asia, West/Central Africa, Norway, and Other.
11GF Score
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