Thule Group ABTHLPF 78 Piotroski F-Score is 6 as of Jun. 24, 2026, which is at its 10-year median of 6.00. GuruFocus rates THLPF with a GF Score™ of 78/100 and a GF Value™ of $40.56 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 839 Travel & Leisure companies, Thule Group AB ranks better than 72.71% 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
Thule Group AB 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 Thule Group AB's Piotroski F-Score or its related term are showing as below:
THLPF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of Thule Group AB was 9. The lowest was 4. And the median was 6.
Thule Group AB (OTCPK:THLPF) 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.
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.
Thule Group AB Piotroski F-Score Related Terms
Thule Group AB Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Thule Group 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.
THLPF vs AS, HAS, LTH: Piotroski F-Score Comparison
For the Leisure subindustry, Thule Group 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.
Thule Group AB Piotroski F-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Thule Group AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Thule Group AB's Piotroski F-Score falls into.
* 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.
*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.
Thule Group AB's current Net Income (TTM) was 121.
==> 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.
Thule Group AB's return on assets of this year was 0.0824878. Thule Group AB's return on assets of last year was 0.09246261.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Thule Group AB's gearing of this year was 0.31072445. Thule Group AB's gearing of last year was 0.35419752.
==> 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
Thule Group AB's current ratio of this year was 2.14496419. Thule Group AB's current ratio of last year was 2.28726068.
==> 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.
Thule Group AB's number of shares in issue this year was 107.8. Thule Group AB's number of shares in issue last year was 107.8.
==> 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.
Thule Group AB's gross margin of this year was 0.45995646. Thule Group AB's gross margin of last year was 0.43679464.
==> 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
Thule Group AB's asset turnover of this year was 0.75074598. Thule Group AB's asset turnover of last year was 0.82383076.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Thule Group AB has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Thule Group AB (THLPF) 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 Thule Group AB and its competitors. This is near median its historical median of 6.00. Over the past decade, Thule Group AB's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Thule Group AB ranks #229 out of 839 companies in the Travel & Leisure industry, placing it in the top 27.3%.
Is Thule Group AB's Piotroski F-Score too high?
Thule Group AB's 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 4.00 to a high of 9.00. The Travel & Leisure industry median Piotroski F-Score is 5.00. Thule Group AB's value of 6 is 20% above this industry median. Based on the distribution chart, Thule Group AB ranks #229 out of 839 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Thule Group AB has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thule Group AB's Piotroski F-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Thule Group AB ranks #229 out of 839 companies for Piotroski F-Score. This puts Thule Group AB in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Thule Group AB's value of 6 is 20% above this benchmark. Historically, Thule Group AB'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, Thule Group AB 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 Travel & Leisure company?
The median Piotroski F-Score among Travel & Leisure companies is 5.00, based on 839 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. Thule Group AB'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 Thule Group AB and its competitors. For the Travel & Leisure 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. Thule Group AB'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 Thule Group AB stock overvalued right now?
Based on GuruFocus' analysis, Thule Group AB (THLPF) is currently considered Significantly Undervalued. The stock's GF Value™ is $40.56, compared to a current price of $26.82 — trading 33.9% below 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 Travel & Leisure industry median of 5.00. Thule Group AB's overall GF Score™ is 78/100 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 Thule Group AB (THLPF), 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 Thule Group AB (THLPF) Overvalued in 2026?
Based on GuruFocus' analysis, Thule Group AB stock appears to be undervalued.
The current stock price of $26.82 is trading 33.9% below its estimated GF Value™ of $40.56.
GuruFocus considers Thule Group AB to be Significantly Undervalued.
Key valuation signals for THLPF:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: $40.56 vs. price of $26.82 (33.9% below fair value)
Industry Position: 20% above the Travel & Leisure median (#229 of 839)
No single metric tells the full story. See the THLPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thule Group AB is a manufacturer of sports and outdoor products. It develops and manufactures premium products that facilitate an active outdoor life. Its product categories; Sport & Cargo Carriers (roof racks, roof boxes, and carriers for transporting cycling, water, and winter sports equipment, and rooftop tents mounted on a car), Juvenile & Pet Products (strollers, bike trailers, and child bike seats), RV Products (awnings, bike carriers and tents for RVs and caravans) and Packs, Bags & Luggage (hiking backpacks, luggage, and camera bags). It has two operating segments: Region Europe and ROW, and Region Americas. Geographic markets: Sweden, Other Nordic countries, Germany, Other Europe, the USA, Other North America, Central/South America, Asia/Pacific Rim, and the Rest of the world.
78GF Score
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