Space Fox Games S A (WAR:FOX) Piotroski F-Score: 3 (As of Jun. 26, 2026) — Near Median


WAR:FOX Space Fox Games S A WAR:FOX
12 GF Score
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What is Space Fox Games S A Piotroski F-Score?

Space Fox Games S A WAR:FOX -3.41% 12 Piotroski F-Score is 3 as of Jun. 26, 2026, which is at its 10-year median of 3.00. GuruFocus rates WAR:FOX with a GF Score™ of 12/100. The stock has 4 warning signs investors should review. Among 550 Interactive Media companies, Space Fox Games S A ranks worse than 79.64% 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

Space Fox Games S A 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 Space Fox Games S A's Piotroski F-Score or its related term are showing as below:

WAR:FOX' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 3   Max: 3
Current: 3

During the past 5 years, the highest Piotroski F-Score of Space Fox Games S A was 3. The lowest was 3. And the median was 3.

Space Fox Games S A  (WAR:FOX) 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.


Space Fox Games S A Piotroski F-Score Related Terms


Space Fox Games S A Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Space Fox Games S A'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.

Space Fox Games S A Piotroski F-Score Chart

Space Fox Games S A Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A N/A 3.00 N/A

Space Fox Games S A Quarterly Data
Dec21 Jun22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 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 3.00 N/A 3.00 N/A 3.00

WAR:FOX vs NTES, EA, TTWO: Piotroski F-Score Comparison

For the Electronic Gaming & Multimedia subindustry, Space Fox Games S A'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.


Space Fox Games S A Piotroski F-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Space Fox Games S A's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Space Fox Games S A's Piotroski F-Score falls into.


WAR:FOX
12GF Score
Space Fox Games S A WAR:FOX
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Dec24) TTM:
Net Income was 0.003 + 0.001 + -0.355 + -0.146 = zł-0.50 Mil.
Cash Flow from Operations was -0.003 + -0.142 + -0.273 + -0.22 = zł-0.64 Mil.
Revenue was 0 + 0.04 + 0 + 0 = zł0.04 Mil.
Gross Profit was 0 + 0.04 + -0.094 + -0.003 = zł-0.06 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Mar26) was
(0.071 + 0.082 + 0.277 + 1 + 0.805) / 5 = zł0.447 Mil.
Total Assets at the begining of this year (Dec24) was zł0.07 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł0.78 Mil.
Total Current Liabilities was zł0.08 Mil.
Net Income was -0.081 + -1.555 + 0.095 + -0.147 = zł-1.69 Mil.

Revenue was 0.002 + 0.247 + 0.232 + 0.012 = zł0.49 Mil.
Gross Profit was 0.287 + 0.416 + 0.355 + 0.076 = zł1.13 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(2.573 + 3.681 + 2.379 + 2.634 + 0.071) / 5 = zł2.2676 Mil.
Total Assets at the begining of last year (Dec23) was zł2.57 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł0.04 Mil.
Total Current Liabilities was zł0.07 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.

Space Fox Games S A's current Net Income (TTM) was -0.50. ==> 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.

Space Fox Games S A's current Cash Flow from Operations (TTM) was -0.64. ==> 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)
=-0.497/0.071
=-7

ROA (Last Year)=Net Income/Total Assets (Dec23)
=-1.688/2.573
=-0.65604353

Space Fox Games S A's return on assets of this year was -7. Space Fox Games S A's return on assets of last year was -0.65604353. ==> 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.

Space Fox Games S A's current Net Income (TTM) was -0.50. Space Fox Games S A's current Cash Flow from Operations (TTM) was -0.64. ==> -0.64 <= -0.50 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Mar26
=0/0.447
=0

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/2.2676
=0

Space Fox Games S A's gearing of this year was 0. Space Fox Games S A'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: Mar26)=Total Current Assets/Total Current Liabilities
=0.775/0.075
=10.33333333

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=0.041/0.072
=0.56944444

Space Fox Games S A's current ratio of this year was 10.33333333. Space Fox Games S A's current ratio of last year was 0.56944444. ==> 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.

Space Fox Games S A's number of shares in issue this year was 1.684. Space Fox Games S A's number of shares in issue last year was 1.134. ==> 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
=-0.057/0.04
=-1.425

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1.134/0.493
=2.30020284

Space Fox Games S A's gross margin of this year was -1.425. Space Fox Games S A's gross margin of last year was 2.30020284. ==> 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)
=0.04/0.071
=0.56338028

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=0.493/2.573
=0.19160513

Space Fox Games S A's asset turnover of this year was 0.56338028. Space Fox Games S A's asset turnover of last year was 0.19160513. ==> 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+1+0+0+1
=3

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

Space Fox Games S A 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?
Space Fox Games S A (WAR:FOX) has a Piotroski F-Score of 3 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Space Fox Games S A and its competitors. This is near median its historical median of 3.00. Over the past decade, Space Fox Games S A's Piotroski F-Score has ranged from 3.00 to 3.00. According to the industry distribution chart, Space Fox Games S A ranks #438 out of 550 companies in the Interactive Media industry, placing it in the top 79.6%.
Is Space Fox Games S A's Piotroski F-Score too high?
Space Fox Games S A's current Piotroski F-Score of 3 is near median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 3.00. The Interactive Media industry median Piotroski F-Score is 5.00. Space Fox Games S A's value of 3 is 40% below this industry median. Based on the distribution chart, Space Fox Games S A ranks #438 out of 550 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Space Fox Games S A has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Space Fox Games S A's Piotroski F-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Space Fox Games S A ranks #438 out of 550 companies for Piotroski F-Score. This places Space Fox Games S A in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Space Fox Games S A's value of 3 is 40% below this benchmark. Historically, Space Fox Games S A's own Piotroski F-Score has ranged from 3.00 to 3.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Space Fox Games S A 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 Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 550 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. Space Fox Games S A'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 Space Fox Games S A and its competitors. For the Interactive Media 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. Space Fox Games S A's current Piotroski F-Score is 3, which is near median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Space Fox Games S A stock overvalued right now?
Space Fox Games S A (WAR:FOX) has a current Piotroski F-Score of 3. The current Piotroski F-Score is 3, which is near median its 10-year median of 3.00 and 40% below the Interactive Media industry median of 5.00. Space Fox Games S A's overall GF Score™ is 12/100 with 4 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 Space Fox Games S A (WAR:FOX), the current Piotroski F-Score is 3 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.

Space Fox Games S A Business Description

Address Ogrodowa Street 58, Warsaw, POL, 00-876
Space Fox Games S A is engaged in development related to the production of mobile and PC games from the casual premium segment, characterized by addictive gameplay and simple controls.
12GF Score

Get the complete analysis for WAR:FOX

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

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