SHWDF (Resonac Holdings) Piotroski F-Score: 6 (As of Jun. 24, 2026) — Near Median


SHWDF Resonac Holdings Corp SHWDF
58 GF Score
Price $111.70
GF Value $18.93
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Resonac Holdings Piotroski F-Score?

Resonac Holdings SHWDF 58 Piotroski F-Score is 6 as of Jun. 24, 2026, which is at its 10-year median of 6.00. GuruFocus rates SHWDF with a GF Score™ of 58/100 and a GF Value™ of $18.93 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,566 Chemicals companies, Resonac Holdings ranks better than 76.18% 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

Resonac Holdings 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 Resonac Holdings's Piotroski F-Score or its related term are showing as below:

SHWDF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Resonac Holdings was 9. The lowest was 3. And the median was 6.

Resonac Holdings  (OTCPK:SHWDF) 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.


Resonac Holdings Piotroski F-Score Related Terms


Resonac Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Resonac 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.

Resonac Holdings Piotroski F-Score Chart

Resonac Holdings 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 5.00 6.00 3.00 9.00 6.00

Resonac Holdings 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 0.00 0.00 0.00 6.00 0.00

SHWDF vs DOW: Piotroski F-Score Comparison

For the Chemicals subindustry, Resonac 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.


Resonac Holdings Piotroski F-Score vs Chemicals Industry

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

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


SHWDF
58GF Score
Resonac Holdings Corp SHWDF
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 $186 Mil.
Cash Flow from Operations was $836 Mil.
Revenue was $8,640 Mil.
Gross Profit was $2,077 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (14124.994 + 13511.997) / 2 = $13818.4955 Mil.
Total Assets at the begining of this year (Dec24) was $14,125 Mil.
Long-Term Debt & Capital Lease Obligation was $5,102 Mil.
Total Current Assets was $5,471 Mil.
Total Current Liabilities was $3,034 Mil.
Net Income was $478 Mil.

Revenue was $9,046 Mil.
Gross Profit was $2,023 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (14269.847 + 14124.994) / 2 = $14197.4205 Mil.
Total Assets at the begining of last year (Dec23) was $14,270 Mil.
Long-Term Debt & Capital Lease Obligation was $5,728 Mil.
Total Current Assets was $5,764 Mil.
Total Current Liabilities was $3,219 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.

Resonac Holdings's current Net Income (TTM) was 186. ==> 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.

Resonac Holdings's current Cash Flow from Operations (TTM) was 836. ==> 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)
=186.198/14124.994
=0.01318216

ROA (Last Year)=Net Income/Total Assets (Dec23)
=477.868/14269.847
=0.03348796

Resonac Holdings's return on assets of this year was 0.01318216. Resonac Holdings's return on assets of last year was 0.03348796. ==> 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.

Resonac Holdings's current Net Income (TTM) was 186. Resonac Holdings's current Cash Flow from Operations (TTM) was 836. ==> 836 > 186 ==> 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
=5101.908/13818.4955
=0.36920865

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=5727.731/14197.4205
=0.40343462

Resonac Holdings's gearing of this year was 0.36920865. Resonac Holdings's gearing of last year was 0.40343462. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=5470.795/3033.935
=1.80320112

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=5763.755/3219.291
=1.79038024

Resonac Holdings's current ratio of this year was 1.80320112. Resonac Holdings's current ratio of last year was 1.79038024. ==> 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.

Resonac Holdings's number of shares in issue this year was 180.888. Resonac Holdings's number of shares in issue last year was 180.769. ==> 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
=2076.785/8640.124
=0.24036518

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2022.562/9046.493
=0.22357415

Resonac Holdings's gross margin of this year was 0.24036518. Resonac Holdings's gross margin of last year was 0.22357415. ==> 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)
=8640.124/14124.994
=0.61169045

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=9046.493/14269.847
=0.63395865

Resonac Holdings's asset turnover of this year was 0.61169045. Resonac Holdings's asset turnover of last year was 0.63395865. ==> 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
=1+1+0+1+1+1+0+1+0
=6

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

Resonac Holdings has an F-score of 6 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 6 mean?
Resonac Holdings (SHWDF) has a Piotroski F-Score of 6 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Resonac Holdings and its competitors. This is near median its historical median of 6.00. Over the past decade, Resonac Holdings' Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Resonac Holdings ranks #373 out of 1566 companies in the Chemicals industry, placing it in the top 23.8%.
Is Resonac Holdings' Piotroski F-Score too high?
Resonac Holdings' current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Chemicals industry median Piotroski F-Score is 5.00. Resonac Holdings' value of 6 is 20% above this industry median. Based on the distribution chart, Resonac Holdings ranks #373 out of 1566 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Resonac Holdings has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Resonac Holdings' Piotroski F-Score compare to DOW?
According to the Chemicals industry distribution chart, Resonac Holdings ranks #373 out of 1566 companies for Piotroski F-Score. This places Resonac Holdings in the top 24% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Resonac Holdings' value of 6 is 20% above this benchmark. Historically, Resonac Holdings' own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Resonac 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,566 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. Resonac Holdings'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 Resonac Holdings and its competitors. For the Chemicals 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. Resonac Holdings's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Resonac Holdings stock overvalued right now?
Based on GuruFocus' analysis, Resonac Holdings (SHWDF) is currently considered Significantly Overvalued. The stock's GF Value™ is $18.93, compared to a current price of $111.70 — trading 490.1% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Chemicals industry median of 5.00. Resonac Holdings' overall GF Score™ is 58/100 with 8 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 Resonac Holdings (SHWDF), the current Piotroski F-Score is 6 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 Resonac Holdings (SHWDF) Overvalued in 2026?

Based on GuruFocus' analysis, Resonac Holdings stock appears to be overvalued. The current stock price of $111.70 is trading 490.1% above its estimated GF Value™ of $18.93. GuruFocus considers Resonac Holdings to be Significantly Overvalued.

Key valuation signals for SHWDF:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: $18.93 vs. price of $111.70 (490.1% above fair value)
  • GF Score™: 58/100 with 8 warning signs
  • Industry Position: 20% above the Chemicals median (#373 of 1566)

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


Resonac Holdings Business Description

Address 1-9-1, Higashi-Shimbashi, Tokyo Shiodome Building, Minato-ku, Tokyo, JPN, 105-7325
Resonac Holdings Corp manufactures and sells chemicals, aluminum, and electronics. The company operates through five segments. The Chemical segment includes petrochemicals such as olefins and organic chemicals, industrial gases, basic chemicals, and graphite electrodes. The Innovation Materials segment covers functional chemicals, resins, coating materials, ceramics, and aluminum specialty components. The Mobility segment provides automotive products, friction materials, powder metal products, & lithium-ion battery materials. Semiconductors and Electronic Materials segment includes front-end and back-end semiconductor materials, as well as device solutions like hard disk media and compound semiconductors. The Others segment covers energy storage devices, systems, and life science products.
58GF Score

Get the complete analysis for SHWDF

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

$111.70
Price
$18.93
GF Value