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NFI GroupTSX:NFI -1.44%65 Piotroski F-Score is 6 as of Aug. 14, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates TSX:NFI with a GF Score™ of 65/100 and a GF Value™ of C$17.80 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,277 Vehicles & Parts companies, NFI Group ranks better than 72.2% 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
NFI Group 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 NFI Group's Piotroski F-Score or its related term are showing as below:
TSX:NFI'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of NFI Group was 7. The lowest was 2. And the median was 5.
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.
NFI Group Piotroski F-Score Related Terms
NFI Group Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for NFI Group'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.
TSX:NFI vs TSLA, GM, F: Piotroski F-Score Comparison
For the Auto Manufacturers subindustry, NFI Group'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.
NFI Group Piotroski F-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, NFI Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where NFI Group'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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was -194.892 + 229.025 + 15.794 + 24.411 = C$74 Mil. Cash Flow from Operations was 116.024 + 163.621 + -74.454 + 223.291 = C$428 Mil. Revenue was 1217.194 + 1414.15 + 1155.194 + 1444.81 = C$5,231 Mil. Gross Profit was -158.159 + 240.612 + 181.505 + 215.468 = C$479 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(4046.137 + 4197.438 + 4519.002 + 4504.744 + 4646.385) / 5 = C$4382.7412 Mil. Total Assets at the begining of this year (Jun25) was C$4,046 Mil. Long-Term Debt & Capital Lease Obligation was C$1,300 Mil. Total Current Assets was C$2,635 Mil. Total Current Liabilities was C$2,215 Mil.
Net Income was -20.31 + 26.447 + -9.311 + -219.746 = C$-223 Mil.
Revenue was 963.587 + 1192.458 + 1207.943 + 1186.613 = C$4,551 Mil. Gross Profit was 117.571 + 131.444 + 134.889 + 158.877 = C$543 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3847.703 + 3940.269 + 4151.764 + 4297.199 + 4046.137) / 5 = C$4056.6144 Mil. Total Assets at the begining of last year (Jun24) was C$3,848 Mil. Long-Term Debt & Capital Lease Obligation was C$1,749 Mil. Total Current Assets was C$2,233 Mil. Total Current Liabilities was C$1,360 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.
NFI Group's current Net Income (TTM) was 74.
==> 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.
NFI Group's return on assets of this year was 0.01837259. NFI Group's return on assets of last year was -0.05793586.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
NFI Group's gearing of this year was 0.29666411. NFI Group's gearing of last year was 0.43126061.
==> 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
NFI Group's current ratio of this year was 1.18998548. NFI Group's current ratio of last year was 1.64209488.
==> 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.
NFI Group's number of shares in issue this year was 119.614. NFI Group's number of shares in issue last year was 119.065.
==> 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.
NFI Group's gross margin of this year was 0.09164483. NFI Group's gross margin of last year was 0.11927677.
==> 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
NFI Group's asset turnover of this year was 1.29292409. NFI Group's asset turnover of last year was 1.1826799.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
NFI Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.
NFI Group (TSX:NFI) has a Piotroski F-Score of 6 as of Aug. 14, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on NFI Group and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, NFI Group's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, NFI Group ranks #355 out of 1277 companies in the Vehicles & Parts industry, placing it in the top 27.8%.
Is NFI Group's Piotroski F-Score too high?
NFI Group's current Piotroski F-Score of 6 is 20% above 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 7.00. The Vehicles & Parts industry median Piotroski F-Score is 5.00. NFI Group's value of 6 is 20% above this industry median. Based on the distribution chart, NFI Group ranks #355 out of 1277 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, NFI Group has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NFI Group's Piotroski F-Score compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, NFI Group ranks #355 out of 1277 companies for Piotroski F-Score. This puts NFI Group in the upper half of its industry. The industry median Piotroski F-Score is 5.00. NFI Group's value of 6 is 20% above this benchmark. Historically, NFI Group's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, NFI Group 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 Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 5.00, based on 1,277 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. NFI Group'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 NFI Group and its competitors. For the Vehicles & Parts 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. NFI Group's current Piotroski F-Score is 6, which is 20% above 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 NFI Group stock overvalued right now?
Based on GuruFocus' analysis, NFI Group (TSX:NFI) is currently considered Significantly Overvalued. The stock's GF Value™ is C$17.80, compared to a current price of C$24.60 — trading 38.2% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Vehicles & Parts industry median of 5.00. NFI Group's overall GF Score™ is 65/100 with 6 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 NFI Group (TSX:NFI), the current Piotroski F-Score is 6 as of Aug. 14, 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 NFI Group (TSX:NFI) Overvalued in 2026?
Based on GuruFocus' analysis, NFI Group stock appears to be overvalued.
The current stock price of C$24.60 is trading 38.2% above its estimated GF Value™ of C$17.80.
GuruFocus considers NFI Group to be Significantly Overvalued.
Key valuation signals for TSX:NFI:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: C$17.80 vs. price of C$24.60 (38.2% above fair value)
Industry Position: 20% above the Vehicles & Parts median (#355 of 1277)
No single metric tells the full story. See the TSX:NFI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NFI Group Inc is a bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer(heavy-duty transit buses), Alexander Dennis Limited (ADL) (single and double-deck buses), Plaxton (motor coaches), MCI (motor coaches), ARBOC Specialty Vehicles, LLC (ARBOC) (low-floor cutaway and medium-duty buses) and NFI Parts (aftermarket parts sales). The company has two reportable segments which are the company's strategic business units: Manufacturing Operations and Aftermarket Operations. It generates majority revenue from Manufacturing Operations. Geographically, the company generates majority of its revenue from North America and rest from United Kingdom, Europe and Asia Pacific region.
65GF Score
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