Apator (STU:8QM) Piotroski F-Score: 8 (As of Jul. 04, 2026) — 33% Above Median


STU:8QM Apator SA STU:8QM
86 GF Score
Price €6.48
GF Value €4.58
! 7 Warning Signs
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What is Apator Piotroski F-Score?

Apator STU:8QM -1.37% 86 Piotroski F-Score is 8 as of Jul. 04, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates STU:8QM with a GF Score™ of 86/100 and a GF Value™ of €4.58. The stock has 7 warning signs investors should review. Among 2,976 Industrial Products companies, Apator ranks better than 97.95% on this metric.

Good Sign:

Piotroski F-Score is 8, 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

Apator has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

STU:8QM' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 8

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

Apator  (STU:8QM) 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.


Apator Piotroski F-Score Related Terms


Apator Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Apator'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.

Apator Piotroski F-Score Chart

Apator 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 6.00 6.00 8.00 9.00 7.00

Apator 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 9.00 8.00 8.00 7.00 8.00

STU:8QM vs VRT, BE, HUBB: Piotroski F-Score Comparison

For the Electrical Equipment & Parts subindustry, Apator'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.


Apator Piotroski F-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Apator's Piotroski F-Score distribution charts can be found below:

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


STU:8QM
86GF Score
Apator SA STU:8QM
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 4.107 + 5.383 + 6.026 + 4.618 = €20.1 Mil.
Cash Flow from Operations was 5.059 + 5.75 + 6.703 + 8.258 = €25.8 Mil.
Revenue was 66.253 + 68.438 + 77.691 + 77.023 = €289.4 Mil.
Gross Profit was 18.857 + 18.171 + 15.983 + 21.428 = €74.4 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(227.95 + 231.016 + 236.824 + 240.77 + 247.588) / 5 = €236.8296 Mil.
Total Assets at the begining of this year (Mar25) was €228.0 Mil.
Long-Term Debt & Capital Lease Obligation was €10.3 Mil.
Total Current Assets was €123.0 Mil.
Total Current Liabilities was €79.1 Mil.
Net Income was 6.098 + 4.027 + 4.008 + 2.783 = €16.9 Mil.

Revenue was 78.205 + 67.701 + 69.57 + 65.635 = €281.1 Mil.
Gross Profit was 21.601 + 17.797 + 17.031 + 17.485 = €73.9 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(227.762 + 225.049 + 225.645 + 223.326 + 227.95) / 5 = €225.9464 Mil.
Total Assets at the begining of last year (Mar24) was €227.8 Mil.
Long-Term Debt & Capital Lease Obligation was €11.9 Mil.
Total Current Assets was €113.1 Mil.
Total Current Liabilities was €74.1 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.

Apator's current Net Income (TTM) was 20.1. ==> 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.

Apator's current Cash Flow from Operations (TTM) was 25.8. ==> 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)
=20.134/227.95
=0.08832639

ROA (Last Year)=Net Income/Total Assets (Mar24)
=16.916/227.762
=0.07427051

Apator's return on assets of this year was 0.08832639. Apator's return on assets of last year was 0.07427051. ==> 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.

Apator's current Net Income (TTM) was 20.1. Apator's current Cash Flow from Operations (TTM) was 25.8. ==> 25.8 > 20.1 ==> 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
=10.345/236.8296
=0.0436812

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=11.86/225.9464
=0.05249033

Apator's gearing of this year was 0.0436812. Apator's gearing of last year was 0.05249033. ==> 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
=122.967/79.108
=1.55441927

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=113.054/74.131
=1.52505699

Apator's current ratio of this year was 1.55441927. Apator's current ratio of last year was 1.52505699. ==> 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.

Apator's number of shares in issue this year was 29.012. Apator's number of shares in issue last year was 29.047. ==> 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
=74.439/289.405
=0.25721394

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=73.914/281.111
=0.26293528

Apator's gross margin of this year was 0.25721394. Apator's gross margin of last year was 0.26293528. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=289.405/227.95
=1.2695986

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=281.111/227.762
=1.23423135

Apator's asset turnover of this year was 1.2695986. Apator's asset turnover of last year was 1.23423135. ==> 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+1+1+0+1
=8

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

Apator has an F-score of 8. 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 8 mean?
Apator (STU:8QM) has a Piotroski F-Score of 8 as of Jul. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Apator and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Apator's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Apator ranks #61 out of 2976 companies in the Industrial Products industry, placing it in the top 2%.
Is Apator's Piotroski F-Score too high?
Apator's current Piotroski F-Score of 8 is 33% above 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 Industrial Products industry median Piotroski F-Score is 5.00. Apator's value of 8 is 60% above this industry median. Based on the distribution chart, Apator ranks #61 out of 2976 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Apator has a GF Score™ of 86/100, reflecting its overall financial health beyond just this single metric.
How does Apator's Piotroski F-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Apator ranks #61 out of 2976 companies for Piotroski F-Score. This places Apator in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Apator's value of 8 is 60% above this benchmark. Historically, Apator's 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, Apator 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 Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,976 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. Apator's current Piotroski F-Score of 8 is 60% 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 Apator and its competitors. For the Industrial 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. Apator's current Piotroski F-Score is 8, which is 33% 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 Apator stock overvalued right now?
Apator (STU:8QM) has a current Piotroski F-Score of 8. The stock's GF Value™ is €4.58, compared to a current price of €6.48 — trading 41.5% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Industrial Products industry median of 5.00. Apator's overall GF Score™ is 86/100 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 Apator (STU:8QM), the current Piotroski F-Score is 8 as of Jul. 04, 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 Apator (STU:8QM) Overvalued in 2026?

Based on GuruFocus' analysis, Apator stock appears to be overvalued. The current stock price of €6.48 is trading 41.5% above its estimated GF Value™ of €4.58.

Key valuation signals for STU:8QM:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: €4.58 vs. price of €6.48 (41.5% above fair value)
  • GF Score™: 86/100 with 7 warning signs
  • Industry Position: 60% above the Industrial Products median (#61 of 2976)

No single metric tells the full story. See the STU:8QM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Apator Business Description

Other Exchanges APT:Poland8QM:Germany
Address ul. Gdańska 4a, lok C4, Torun, POL, 87-100
Apator SA manufactures and sells metering and switchgear equipment in Poland and internationally. Its products include electricity meters, such as smart, electronic, prepayment, and induction meters, as well as smart grid systems comprising remote data read out and prepayment systems; and water meters, heat meters and volume parts for heat meters, heating cost allocators, remote reading systems, installation fittings, test and measurement products, and other products.
86GF Score

Get the complete analysis for STU:8QM

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

€6.48
Price
€4.58
GF Value