SYNMF (Synthetic MR AB) Piotroski F-Score: 3 (As of Jul. 15, 2026) — 40% Below Median

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SYNMF Synthetic MR AB SYNMF
63 GF Score
Price $0.19
GF Value $1.41
! 3 Warning Signs
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What is Synthetic MR AB Piotroski F-Score?

Synthetic MR AB SYNMF 63 Piotroski F-Score is 3 as of Jul. 15, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates SYNMF with a GF Score™ of 63/100 and a GF Value™ of $1.41. The stock has 3 warning signs investors should review. Among 652 Healthcare Providers & Services companies, Synthetic MR AB ranks worse than 83.28% on this metric.

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Synthetic MR AB has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

SYNMF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Synthetic MR AB was 8. The lowest was 2. And the median was 5.

Synthetic MR AB  (OTCPK:SYNMF) 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.


Synthetic MR AB Piotroski F-Score Related Terms


Synthetic MR AB Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Synthetic MR AB'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.

Synthetic MR AB Piotroski F-Score Chart

Synthetic MR AB 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 3.00 3.00 3.00 4.00

Synthetic MR AB 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 3.00 2.00 2.00 4.00 3.00

SYNMF vs VEEV, BTSG, TEM: Piotroski F-Score Comparison

For the Health Information Services subindustry, Synthetic MR AB'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.


Synthetic MR AB Piotroski F-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Synthetic MR AB's Piotroski F-Score distribution charts can be found below:

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


SYNMF
63GF Score
Synthetic MR AB SYNMF
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 -1.089 + -2.694 + -0.644 + -0.664 = $-5.09 Mil.
Cash Flow from Operations was 0.056 + -0.322 + -0.458 + -0.388 = $-1.11 Mil.
Revenue was 1.298 + 1.325 + 1.935 + 1.405 = $5.96 Mil.
Gross Profit was 1.491 + 1.481 + 2.086 + 1.573 = $6.63 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(18.518 + 18.672 + 15.376 + 14.811 + 17.469) / 5 = $16.9692 Mil.
Total Assets at the begining of this year (Mar25) was $18.52 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $8.90 Mil.
Total Current Liabilities was $2.93 Mil.
Net Income was -0.703 + -0.672 + -0.479 + -1.312 = $-3.17 Mil.

Revenue was 1.137 + 1.303 + 1.15 + 1.406 = $5.00 Mil.
Gross Profit was 1.262 + 1.454 + 1.287 + 1.632 = $5.64 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(14.039 + 13.354 + 12.965 + 15.707 + 18.518) / 5 = $14.9166 Mil.
Total Assets at the begining of last year (Mar24) was $14.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.42 Mil.
Total Current Assets was $10.20 Mil.
Total Current Liabilities was $3.39 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.

Synthetic MR AB's current Net Income (TTM) was -5.09. ==> Negative ==> Score 0.

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.

Synthetic MR AB's current Cash Flow from Operations (TTM) was -1.11. ==> Negative ==> Score 0.

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)
=-5.091/18.518
=-0.2749217

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-3.166/14.039
=-0.22551464

Synthetic MR AB's return on assets of this year was -0.2749217. Synthetic MR AB's return on assets of last year was -0.22551464. ==> 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.

Synthetic MR AB's current Net Income (TTM) was -5.09. Synthetic MR AB's current Cash Flow from Operations (TTM) was -1.11. ==> -1.11 > -5.09 ==> 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
=0/16.9692
=0

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0.423/14.9166
=0.02835767

Synthetic MR AB's gearing of this year was 0. Synthetic MR AB's gearing of last year was 0.02835767. ==> 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
=8.898/2.925
=3.04205128

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=10.2/3.391
=3.00796225

Synthetic MR AB's current ratio of this year was 3.04205128. Synthetic MR AB's current ratio of last year was 3.00796225. ==> 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.

Synthetic MR AB's number of shares in issue this year was 75.58. Synthetic MR AB's number of shares in issue last year was 54.989. ==> 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
=6.631/5.963
=1.11202415

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5.635/4.996
=1.12790232

Synthetic MR AB's gross margin of this year was 1.11202415. Synthetic MR AB's gross margin of last year was 1.12790232. ==> 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)
=5.963/18.518
=0.32201102

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=4.996/14.039
=0.3558658

Synthetic MR AB's asset turnover of this year was 0.32201102. Synthetic MR AB's asset turnover of last year was 0.3558658. ==> 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
=0+0+0+1+1+1+0+0+0
=3

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

Synthetic MR AB has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Synthetic MR AB (SYNMF) has a Piotroski F-Score of 3 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Synthetic MR AB and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Synthetic MR AB's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Synthetic MR AB ranks #543 out of 652 companies in the Healthcare Providers & Services industry, placing it in the top 83.3%.
Is Synthetic MR AB's Piotroski F-Score too high?
Synthetic MR AB's current Piotroski F-Score of 3 is 40% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Synthetic MR AB's value of 3 is 40% below this industry median. Based on the distribution chart, Synthetic MR AB ranks #543 out of 652 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Synthetic MR AB has a GF Score™ of 63/100, reflecting its overall financial health beyond just this single metric.
How does Synthetic MR AB's Piotroski F-Score compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Synthetic MR AB ranks #543 out of 652 companies for Piotroski F-Score. This places Synthetic MR AB in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Synthetic MR AB's value of 3 is 40% below this benchmark. Historically, Synthetic MR AB's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Synthetic MR AB 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 a Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 652 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. Synthetic MR AB's current Piotroski F-Score of 3 is 40% 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 Synthetic MR AB and its competitors. For the Healthcare Providers & 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. Synthetic MR AB's current Piotroski F-Score is 3, which is 40% 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 Synthetic MR AB stock overvalued right now?
Synthetic MR AB (SYNMF) has a current Piotroski F-Score of 3. The stock's GF Value™ is $1.41, compared to a current price of $0.19 — trading 86.8% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Healthcare Providers & Services industry median of 5.00. Synthetic MR AB's overall GF Score™ is 63/100 with 3 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 Synthetic MR AB (SYNMF), the current Piotroski F-Score is 3 as of Jul. 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 Synthetic MR AB (SYNMF) Overvalued in 2026?

Based on GuruFocus' analysis, Synthetic MR AB stock appears to be undervalued. The current stock price of $0.19 is trading 86.8% below its estimated GF Value™ of $1.41.

Key valuation signals for SYNMF:

  • Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
  • GF Value™: $1.41 vs. price of $0.19 (86.8% below fair value)
  • GF Score™: 63/100 with 3 warning signs
  • Industry Position: 40% below the Healthcare Providers & Services median (#543 of 652)

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


Synthetic MR AB Business Description

Other Exchanges SYNT:Sweden9480:Germany
Address Storgatan 11, Linkoping, SWE, SE-582 23
Synthetic MR AB develops and markets software solutions that improve the efficiency of neuroimaging processes and diagnostic accuracy. SyntheticMR's SyMRI solution measures the brain's absolute tissue properties and generates multiple contrast-weighted images, performs automatic segmentation of biomarkers, and delivers quantitative data in a single rapid examination. Combinostics offers the AI-driven cNeuro product family, which helps clinicians make a difference in the lives of patients with neurological diseases. Geographically, the group operates in America, Europe, and APAC. The majority of its revenue is generated from Europe.
63GF Score

Get the complete analysis for SYNMF

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

$0.19
Price
$1.41
GF Value