SGSOF (SGS AG) Piotroski F-Score: 7 (As of Jul. 23, 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SGSOF SGS AG SGSOF
82 GF Score
Price $117.63
GF Value $108.40
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is SGS AG Piotroski F-Score?

SGS AG SGSOF +0.71% 82 Piotroski F-Score is 7 as of Jul. 23, 2026, which is at its 10-year median of 7.00. GuruFocus rates SGSOF with a GF Score™ of 82/100 and a GF Value™ of $108.40 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,064 Business Services companies, SGS AG ranks better than 88.72% 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

SGS AG 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 SGS AG's Piotroski F-Score or its related term are showing as below:

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

During the past 13 years, the highest Piotroski F-Score of SGS AG was 8. The lowest was 5. And the median was 7.

SGS AG  (OTCPK:SGSOF) 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.


SGS AG Piotroski F-Score Related Terms


SGS AG Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for SGS AG'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.

SGS AG Piotroski F-Score Chart

SGS AG 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 7.00 7.00 5.00 8.00 7.00

SGS AG Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 5.00 0.00 8.00 0.00 7.00

SGSOF vs VRSK, EFX, BAH: Piotroski F-Score Comparison

For the Consulting Services subindustry, SGS AG'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.


SGS AG Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, SGS AG's Piotroski F-Score distribution charts can be found below:

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


SGSOF
82GF Score
SGS AG SGSOF
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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was $838 Mil.
Cash Flow from Operations was $1,535 Mil.
Revenue was $8,715 Mil.
Gross Profit was $7,489 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (7569.538 + 9892.082) / 2 = $8730.81 Mil.
Total Assets at the begining of this year (Dec24) was $7,570 Mil.
Long-Term Debt & Capital Lease Obligation was $4,904 Mil.
Total Current Assets was $4,938 Mil.
Total Current Liabilities was $3,425 Mil.
Net Income was $652 Mil.

Revenue was $7,620 Mil.
Gross Profit was $6,542 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (7817.993 + 7569.538) / 2 = $7693.7655 Mil.
Total Assets at the begining of last year (Dec23) was $7,818 Mil.
Long-Term Debt & Capital Lease Obligation was $3,487 Mil.
Total Current Assets was $3,192 Mil.
Total Current Liabilities was $2,832 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.

SGS AG's current Net Income (TTM) was 838. ==> 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.

Score 1 if positive, 0 if negative.

SGS AG's current Cash Flow from Operations (TTM) was 1,535. ==> 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 (Dec24)
=838.248/7569.538
=0.11073965

ROA (Last Year)=Net Income/Total Assets (Dec23)
=651.638/7817.993
=0.08335106

SGS AG's return on assets of this year was 0.11073965. SGS AG's return on assets of last year was 0.08335106. ==> 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.

SGS AG's current Net Income (TTM) was 838. SGS AG's current Cash Flow from Operations (TTM) was 1,535. ==> 1,535 > 838 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=4904.003/8730.81
=0.56168935

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=3486.99/7693.7655
=0.45322281

SGS AG's gearing of this year was 0.56168935. SGS AG's gearing of last year was 0.45322281. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=4937.884/3424.52
=1.44192004

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=3192.014/2831.987
=1.12712876

SGS AG's current ratio of this year was 1.44192004. SGS AG's current ratio of last year was 1.12712876. ==> 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.

SGS AG's number of shares in issue this year was 193. SGS AG's number of shares in issue last year was 188. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=7489.02/8715.021
=0.85932323

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=6542.171/7620.009
=0.85855161

SGS AG's gross margin of this year was 0.85932323. SGS AG's gross margin of last year was 0.85855161. ==> 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 (Dec24)
=8715.021/7569.538
=1.15132799

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=7620.009/7817.993
=0.97467585

SGS AG's asset turnover of this year was 1.15132799. SGS AG's asset turnover of last year was 0.97467585. ==> 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
=1+1+1+1+0+1+0+1+1
=7

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

SGS AG 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?
SGS AG (SGSOF) has a Piotroski F-Score of 7 as of Jul. 23, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on SGS AG and its competitors. This is near median its historical median of 7.00. Over the past decade, SGS AG's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, SGS AG ranks #120 out of 1064 companies in the Business Services industry, placing it in the top 11.3%.
Is SGS AG's Piotroski F-Score too high?
SGS AG's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Business Services industry median Piotroski F-Score is 5.00. SGS AG's value of 7 is 40% above this industry median. Based on the distribution chart, SGS AG ranks #120 out of 1064 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, SGS AG has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SGS AG's Piotroski F-Score compare to VRSK and EFX?
According to the Business Services industry distribution chart, SGS AG ranks #120 out of 1064 companies for Piotroski F-Score. This places SGS AG in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. SGS AG's value of 7 is 40% above this benchmark. Historically, SGS AG's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, SGS AG 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 Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,064 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. SGS AG'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 SGS AG and its competitors. For the Business Services 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. SGS AG's current Piotroski F-Score is 7, which is near median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SGS AG stock overvalued right now?
Based on GuruFocus' analysis, SGS AG (SGSOF) is currently considered Fairly Valued. The stock's GF Value™ is $108.40, compared to a current price of $117.63 — trading 8.5% above its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 40% above the Business Services industry median of 5.00. SGS AG's overall GF Score™ is 82/100 with 7 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 SGS AG (SGSOF), the current Piotroski F-Score is 7 as of Jul. 23, 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 SGS AG (SGSOF) Overvalued in 2026?

Based on GuruFocus' analysis, SGS AG stock appears to be overvalued. The current stock price of $117.63 is trading 8.5% above its estimated GF Value™ of $108.40. GuruFocus considers SGS AG to be Fairly Valued.

Key valuation signals for SGSOF:

  • Piotroski F-Score: 7 (near median its 10-year median of 7.00)
  • GF Value™: $108.40 vs. price of $117.63 (8.5% above fair value)
  • GF Score™: 82/100 with 7 warning signs
  • Industry Position: 40% above the Business Services median (#120 of 1064)

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


SGS AG Business Description

Address Zugerstrasse 57, Baar, CHE, CH- 6340
Switzerland-listed SGS is the largest and one of the oldest companies in the testing, inspection, and certification industry. The company's primary activities involve testing products and materials, inspecting sites/industrial equipment, and certifying products and systems to ensure global/company standards. SGS is one of only three TIC companies operating globally across agriculture, food, life sciences, and transportation services. SGS was first listed in 1981 and employs almost 100,000 people worldwide.
82GF Score

Get the complete analysis for SGSOF

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

$117.63
Price
$108.40
GF Value