Canadian Utilities (STU:CUD) Piotroski F-Score: 4 (As of Jun. 24, 2026) — 20% Below Median


STU:CUD Canadian Utilities Ltd STU:CUD
82 GF Score
Price €32.18
GF Value €22.44
! 14 Warning Signs
View Full Analysis

What is Canadian Utilities Piotroski F-Score?

Canadian Utilities STU:CUD +1.32% 82 Piotroski F-Score is 4 as of Jun. 24, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates STU:CUD with a GF Score™ of 82/100 and a GF Value™ of €22.44. The stock has 14 warning signs investors should review. Among 490 Utilities - Regulated companies, Canadian Utilities ranks worse than 77.35% 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

Canadian Utilities has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

STU:CUD' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Canadian Utilities was 7. The lowest was 4. And the median was 5.

Canadian Utilities  (STU:CUD) 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.


Canadian Utilities Piotroski F-Score Related Terms


Canadian Utilities Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Canadian Utilities'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.

Canadian Utilities Piotroski F-Score Chart

Canadian Utilities 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 7.00 5.00 5.00 5.00

Canadian Utilities 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 4.00 5.00 5.00 4.00

STU:CUD vs SRE, AES: Piotroski F-Score Comparison

For the Utilities - Diversified subindustry, Canadian Utilities'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.


Canadian Utilities Piotroski F-Score vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Canadian Utilities's Piotroski F-Score distribution charts can be found below:

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


STU:CUD
82GF Score
Canadian Utilities Ltd STU:CUD
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 70.41 + 61.587 + -203.053 + 141.224 = €70 Mil.
Cash Flow from Operations was 279.739 + 288.229 + 318.818 + 380.802 = €1,268 Mil.
Revenue was 534.104 + 487.772 + 601.112 + 683.426 = €2,306 Mil.
Gross Profit was 372.985 + 347.353 + 417.25 + 479.785 = €1,617 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(15539.948 + 15146.493 + 15192.378 + 15189.376 + 15453.364) / 5 = €15304.3118 Mil.
Total Assets at the begining of this year (Mar25) was €15,540 Mil.
Long-Term Debt & Capital Lease Obligation was €7,393 Mil.
Total Current Assets was €876 Mil.
Total Current Liabilities was €662 Mil.
Net Income was 42.027 + 7.982 + 109.932 + 152.062 = €312 Mil.

Revenue was 582.955 + 538.764 + 657.581 + 699.098 = €2,478 Mil.
Gross Profit was 396.545 + 382.456 + 465.87 + 498.067 = €1,743 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(15686.761 + 15726.909 + 15476.501 + 15944.82 + 15539.948) / 5 = €15674.9878 Mil.
Total Assets at the begining of last year (Mar24) was €15,687 Mil.
Long-Term Debt & Capital Lease Obligation was €6,957 Mil.
Total Current Assets was €891 Mil.
Total Current Liabilities was €860 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.

Canadian Utilities's current Net Income (TTM) was 70. ==> 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.

Canadian Utilities's current Cash Flow from Operations (TTM) was 1,268. ==> 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)
=70.168/15539.948
=0.00451533

ROA (Last Year)=Net Income/Total Assets (Mar24)
=312.003/15686.761
=0.01988957

Canadian Utilities's return on assets of this year was 0.00451533. Canadian Utilities's return on assets of last year was 0.01988957. ==> 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.

Canadian Utilities's current Net Income (TTM) was 70. Canadian Utilities's current Cash Flow from Operations (TTM) was 1,268. ==> 1,268 > 70 ==> 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
=7392.85/15304.3118
=0.48305668

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=6957.474/15674.9878
=0.44385834

Canadian Utilities's gearing of this year was 0.48305668. Canadian Utilities's gearing of last year was 0.44385834. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=876.348/661.99
=1.32380852

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=891.108/859.536
=1.03673145

Canadian Utilities's current ratio of this year was 1.32380852. Canadian Utilities's current ratio of last year was 1.03673145. ==> 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.

Canadian Utilities's number of shares in issue this year was 272.782. Canadian Utilities's number of shares in issue last year was 271.662. ==> 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
=1617.373/2306.414
=0.70125008

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1742.938/2478.398
=0.70325186

Canadian Utilities's gross margin of this year was 0.70125008. Canadian Utilities's gross margin of last year was 0.70325186. ==> 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)
=2306.414/15539.948
=0.14841839

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=2478.398/15686.761
=0.15799297

Canadian Utilities's asset turnover of this year was 0.14841839. Canadian Utilities's asset turnover of last year was 0.15799297. ==> 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+0+1+0+0+0
=4

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

Canadian Utilities has an F-score of 4 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 4 mean?
Canadian Utilities (STU:CUD) has a Piotroski F-Score of 4 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Canadian Utilities and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Canadian Utilities' Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, Canadian Utilities ranks #379 out of 490 companies in the Utilities - Regulated industry, placing it in the top 77.3%.
Is Canadian Utilities' Piotroski F-Score too high?
Canadian Utilities' current Piotroski F-Score of 4 is 20% below 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 7.00. The Utilities - Regulated industry median Piotroski F-Score is 6.00. Canadian Utilities' value of 4 is 33.3% below this industry median. Based on the distribution chart, Canadian Utilities ranks #379 out of 490 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Canadian Utilities has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Canadian Utilities' Piotroski F-Score compare to SRE and AES?
According to the Utilities - Regulated industry distribution chart, Canadian Utilities ranks #379 out of 490 companies for Piotroski F-Score. This places Canadian Utilities in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Canadian Utilities' value of 4 is 33.3% below this benchmark. Historically, Canadian Utilities' own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Canadian Utilities has consistently been below 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 Utilities - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 490 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. Canadian Utilities's current Piotroski F-Score of 4 is 33.3% below 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 Canadian Utilities and its competitors. For the Utilities - Regulated industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Utilities's current Piotroski F-Score is 4, which is 20% below 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 Canadian Utilities stock overvalued right now?
Canadian Utilities (STU:CUD) has a current Piotroski F-Score of 4. The stock's GF Value™ is €22.44, compared to a current price of €32.18 — trading 43.4% above its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 33.3% below the Utilities - Regulated industry median of 6.00. Canadian Utilities' overall GF Score™ is 82/100 with 14 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 Canadian Utilities (STU:CUD), the current Piotroski F-Score is 4 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 Canadian Utilities (STU:CUD) Overvalued in 2026?

Based on GuruFocus' analysis, Canadian Utilities stock appears to be overvalued. The current stock price of €32.18 is trading 43.4% above its estimated GF Value™ of €22.44.

Key valuation signals for STU:CUD:

  • Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
  • GF Value™: €22.44 vs. price of €32.18 (43.4% above fair value)
  • GF Score™: 82/100 with 14 warning signs
  • Industry Position: 33.3% below the Utilities - Regulated median (#379 of 490)

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


Canadian Utilities Business Description

Address 5302 Forand Street South West, 4th Floor, West Building, Corporate Governance & Secretarial, Calgary, AB, CAN, T3E 8B4
Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company is engaged in segments that include ATCO Energy Systems, ATCO EnPower, ATCO Australia, and Corporate & Other. Headquartered in Calgary, Alberta, the firm mainly operates in Canada, Australia, and others. The company generates maximum revenue from Canada. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.
82GF Score

Get the complete analysis for STU:CUD

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

€32.18
Price
€22.44
GF Value