CD Projekt Red (STU:7CD0) Piotroski F-Score: 7 (As of Aug. 15, 2026) — 17% Above Median

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STU:7CD0 CD Projekt Red SA STU:7CD0
78 GF Score
Price €15.00
GF Value €8.21
Valuation Significantly Overvalued
! 5 Warning Signs
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What is CD Projekt Red Piotroski F-Score?

CD Projekt Red STU:7CD0 +0.67% 78 Piotroski F-Score is 7 as of Aug. 15, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates STU:7CD0 with a GF Score™ of 78/100 and a GF Value™ of €8.21 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 545 Interactive Media companies, CD Projekt Red ranks better than 89.91% 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

CD Projekt Red 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 CD Projekt Red's Piotroski F-Score or its related term are showing as below:

STU:7CD0' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of CD Projekt Red was 9. The lowest was 4. And the median was 6.

CD Projekt Red  (STU:7CD0) 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.


CD Projekt Red Piotroski F-Score Related Terms


CD Projekt Red Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for CD Projekt Red'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.

CD Projekt Red Piotroski F-Score Chart

CD Projekt Red 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 9.00 8.00 4.00 6.00

CD Projekt Red 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 5.00 5.00 6.00 6.00 7.00

STU:7CD0 vs NTES, EA, TTWO: Piotroski F-Score Comparison

For the Electronic Gaming & Multimedia subindustry, CD Projekt Red'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.


CD Projekt Red Piotroski F-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CD Projekt Red's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where CD Projekt Red's Piotroski F-Score falls into.


STU:7CD0
78GF Score
CD Projekt Red SA STU:7CD0
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 10.145 + 45.479 + 57.886 + 24.961 = €138.5 Mil.
Cash Flow from Operations was 23.175 + 55.739 + 24.399 + 38.427 = €141.7 Mil.
Revenue was 61.804 + 82.046 + 17.599 + 44.918 = €206.4 Mil.
Gross Profit was 41.762 + 69.211 + 35.202 + 41.662 = €187.8 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(733.125 + 750.769 + 775.421 + 823.425 + 856.354) / 5 = €787.8188 Mil.
Total Assets at the begining of this year (Mar25) was €733.1 Mil.
Long-Term Debt & Capital Lease Obligation was €0.0 Mil.
Total Current Assets was €276.6 Mil.
Total Current Liabilities was €46.0 Mil.
Net Income was 16.44 + 18.358 + 46.092 + 26.276 = €107.2 Mil.

Revenue was 46.514 + 53.46 + 34.371 + 42.329 = €176.7 Mil.
Gross Profit was 34.576 + 39.597 + 47.063 + 39.041 = €160.3 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(640.069 + 625.212 + 647.637 + 711.338 + 733.125) / 5 = €671.4762 Mil.
Total Assets at the begining of last year (Mar24) was €640.1 Mil.
Long-Term Debt & Capital Lease Obligation was €0.0 Mil.
Total Current Assets was €326.5 Mil.
Total Current Liabilities was €48.0 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.

CD Projekt Red's current Net Income (TTM) was 138.5. ==> 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.

CD Projekt Red's current Cash Flow from Operations (TTM) was 141.7. ==> 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)
=138.471/733.125
=0.18887775

ROA (Last Year)=Net Income/Total Assets (Mar24)
=107.166/640.069
=0.16742882

CD Projekt Red's return on assets of this year was 0.18887775. CD Projekt Red's return on assets of last year was 0.16742882. ==> 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.

CD Projekt Red's current Net Income (TTM) was 138.5. CD Projekt Red's current Cash Flow from Operations (TTM) was 141.7. ==> 141.7 > 138.5 ==> 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
=0/787.8188
=0

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0/671.4762
=0

CD Projekt Red's gearing of this year was 0. CD Projekt Red's gearing of last year was 0. ==> 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
=276.552/46.035
=6.00742913

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=326.533/47.997
=6.80319603

CD Projekt Red's current ratio of this year was 6.00742913. CD Projekt Red's current ratio of last year was 6.80319603. ==> 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.

CD Projekt Red's number of shares in issue this year was 404.571. CD Projekt Red's number of shares in issue last year was 402.865. ==> 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
=187.837/206.367
=0.91020851

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=160.277/176.674
=0.90719064

CD Projekt Red's gross margin of this year was 0.91020851. CD Projekt Red's gross margin of last year was 0.90719064. ==> 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)
=206.367/733.125
=0.28148951

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=176.674/640.069
=0.27602337

CD Projekt Red's asset turnover of this year was 0.28148951. CD Projekt Red's asset turnover of last year was 0.27602337. ==> 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+1+0+0+1+1
=7

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

CD Projekt Red 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?
CD Projekt Red (STU:7CD0) has a Piotroski F-Score of 7 as of Aug. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on CD Projekt Red and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, CD Projekt Red's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, CD Projekt Red ranks #55 out of 545 companies in the Interactive Media industry, placing it in the top 10.1%.
Is CD Projekt Red's Piotroski F-Score too high?
CD Projekt Red's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Interactive Media industry median Piotroski F-Score is 5.00. CD Projekt Red's value of 7 is 40% above this industry median. Based on the distribution chart, CD Projekt Red ranks #55 out of 545 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, CD Projekt Red has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CD Projekt Red's Piotroski F-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, CD Projekt Red ranks #55 out of 545 companies for Piotroski F-Score. This places CD Projekt Red in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. CD Projekt Red's value of 7 is 40% above this benchmark. Historically, CD Projekt Red's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, CD Projekt Red 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 Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 545 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. CD Projekt Red'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 CD Projekt Red and its competitors. For the Interactive Media 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. CD Projekt Red's current Piotroski F-Score is 7, which is 17% above 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 CD Projekt Red stock overvalued right now?
Based on GuruFocus' analysis, CD Projekt Red (STU:7CD0) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.21, compared to a current price of €15.00 — trading 82.7% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Interactive Media industry median of 5.00. CD Projekt Red's overall GF Score™ is 78/100 with 5 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 CD Projekt Red (STU:7CD0), the current Piotroski F-Score is 7 as of Aug. 15, 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 CD Projekt Red (STU:7CD0) Overvalued in 2026?

Based on GuruFocus' analysis, CD Projekt Red stock appears to be overvalued. The current stock price of €15.00 is trading 82.7% above its estimated GF Value™ of €8.21. GuruFocus considers CD Projekt Red to be Significantly Overvalued.

Key valuation signals for STU:7CD0:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: €8.21 vs. price of €15.00 (82.7% above fair value)
  • GF Score™: 78/100 with 5 warning signs
  • Industry Position: 40% above the Interactive Media median (#55 of 545)

No single metric tells the full story. See the STU:7CD0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CD Projekt Red Business Description

Address ul. Jagiellonska 74, Building E, Warsaw, POL, 03-301
CD Projekt SA is the holding company of the CD Projekt capital group. The firm, with its subsidiary, develops and publishes video games for hardware platforms such as Steam, PlayStation Store, Xbox Games Store, Nintendo, App Store, Humble Bundle, Origin, and its own proprietary GOG.com platform. It is also involved in international digital video game distribution. The firm has CD Projekt Red and GOG.com segments. It derives the majority of its revenues from the CD Projekt Red segment.
78GF Score

Get the complete analysis for STU:7CD0

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

€15.00
Price
€8.21
GF Value