Femion Technology (WAR:FEM) Piotroski F-Score: 2 (As of Jun. 26, 2026) — 60% Below Median


What is Femion Technology Piotroski F-Score?

Femion Technology WAR:FEM Piotroski F-Score is 2 as of Jun. 26, 2026, which is 60% below its 10-year median of 5.00. The stock has 5 warning signs investors should review. Among 532 Credit Services companies, Femion Technology ranks worse than 91.17% on this metric.

Warning Sign:

Piotroski F-Score of 2 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

Femion Technology has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

WAR:FEM' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 6
Current: 2

During the past 13 years, the highest Piotroski F-Score of Femion Technology was 6. The lowest was 1. And the median was 5.

Femion Technology  (WAR:FEM) 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.


Femion Technology Piotroski F-Score Related Terms


Femion Technology Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Femion Technology'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.

Femion Technology Piotroski F-Score Chart

Femion Technology 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 5.00 1.00 6.00 6.00 2.00

Femion Technology Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 6.00 6.00 6.00 7.00 2.00

WAR:FEM vs V, MA, AXP: Piotroski F-Score Comparison

For the Credit Services subindustry, Femion Technology'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.


Femion Technology Piotroski F-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Femion Technology's Piotroski F-Score distribution charts can be found below:

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


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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was 0.002 + -0.077 + -0.196 + -0.382 = zł-0.65 Mil.
Cash Flow from Operations was -7.372 + 5.391 + -3.132 + 2.035 = zł-3.08 Mil.
Revenue was 1.589 + 1.533 + 1.284 + 0.98 = zł5.39 Mil.
Gross Profit was 1.019 + 0.984 + 0.764 + 0.467 = zł3.23 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(15.607 + 8.076 + 13.979 + 10.286 + 11.968) / 5 = zł11.9832 Mil.
Total Assets at the begining of this year (Dec24) was zł15.61 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł9.73 Mil.
Total Current Liabilities was zł9.30 Mil.
Net Income was 0.21 + 0.275 + -0.145 + 2.855 = zł3.20 Mil.

Revenue was 1.634 + 1.672 + 1.406 + 0.89 = zł5.60 Mil.
Gross Profit was 1.171 + 1.169 + 0.882 + 0.316 = zł3.54 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(50.847 + 55.271 + 19.971 + 8.823 + 15.607) / 5 = zł30.1038 Mil.
Total Assets at the begining of last year (Dec23) was zł50.85 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł13.52 Mil.
Total Current Liabilities was zł12.79 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.

Femion Technology's current Net Income (TTM) was -0.65. ==> 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.

Femion Technology's current Cash Flow from Operations (TTM) was -3.08. ==> 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 (Dec24)
=-0.653/15.607
=-0.0418402

ROA (Last Year)=Net Income/Total Assets (Dec23)
=3.195/50.847
=0.06283557

Femion Technology's return on assets of this year was -0.0418402. Femion Technology's return on assets of last year was 0.06283557. ==> 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.

Femion Technology's current Net Income (TTM) was -0.65. Femion Technology's current Cash Flow from Operations (TTM) was -3.08. ==> -3.08 <= -0.65 ==> CFROA <= ROA ==> Score 0.

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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=0/11.9832
=0

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/30.1038
=0

Femion Technology's gearing of this year was 0. Femion Technology's gearing of last year was 0. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=9.73/9.296
=1.04668675

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=13.516/12.791
=1.05668048

Femion Technology's current ratio of this year was 1.04668675. Femion Technology's current ratio of last year was 1.05668048. ==> 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.

Femion Technology's number of shares in issue this year was 28.295. Femion Technology's number of shares in issue last year was 27.58. ==> 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
=3.234/5.386
=0.6004456

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3.538/5.602
=0.63156016

Femion Technology's gross margin of this year was 0.6004456. Femion Technology's gross margin of last year was 0.63156016. ==> 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 (Dec24)
=5.386/15.607
=0.34510156

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=5.602/50.847
=0.11017366

Femion Technology's asset turnover of this year was 0.34510156. Femion Technology's asset turnover of last year was 0.11017366. ==> 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
=0+0+0+0+1+0+0+0+1
=2

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

Femion Technology has an F-score of 2. 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 2 mean?
Femion Technology (WAR:FEM) has a Piotroski F-Score of 2 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Femion Technology and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Femion Technology's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Femion Technology ranks #485 out of 532 companies in the Credit Services industry, placing it in the top 91.2%.
Is Femion Technology's Piotroski F-Score too high?
Femion Technology's current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Credit Services industry median Piotroski F-Score is 5.00. Femion Technology's value of 2 is 60% below this industry median. Based on the distribution chart, Femion Technology ranks #485 out of 532 companies in the Credit Services industry, which is in the bottom quartile relative to peers.
How does Femion Technology's Piotroski F-Score compare to V and MA?
According to the Credit Services industry distribution chart, Femion Technology ranks #485 out of 532 companies for Piotroski F-Score. This places Femion Technology in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Femion Technology's value of 2 is 60% below this benchmark. Historically, Femion Technology's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Femion Technology 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 Credit Services company?
The median Piotroski F-Score among Credit Services companies is 5.00, based on 532 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. Femion Technology's current Piotroski F-Score of 2 is 60% 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 Femion Technology and its competitors. For the Credit 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. Femion Technology's current Piotroski F-Score is 2, which is 60% 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 Femion Technology stock overvalued right now?
Based on GuruFocus' analysis, Femion Technology (WAR:FEM) is currently considered Possible Value Trap. The stock's GF Value™ is zł0.71, compared to a current price of zł0.03 — trading 95.5% below its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Credit Services industry median of 5.00. 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 Femion Technology (WAR:FEM), the current Piotroski F-Score is 2 as of Jun. 26, 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.

Femion Technology Business Description

Address Ulica Saint Nicholas 8-11, Wroclaw, POL, 50-125
Femion Technology SA operates as a holding company; its main business activity is: Acquisition of blocks of shares or stakes in business enterprises; Consulting and management of companies belonging to the Capital Group; Obtaining financing for companies of the Capital Group; IT system licensing.