Gamedust (WAR:GDC) Piotroski F-Score: 6 (As of Jun. 27, 2026) — 20% Above Median


What is Gamedust Piotroski F-Score?

Gamedust WAR:GDC Piotroski F-Score is 6 as of Jun. 27, 2026, which is 20% above its 10-year median of 5.00. The stock has 4 warning signs investors should review.

The zones of discrimination were as such:

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

Gamedust 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 Gamedust's Piotroski F-Score or its related term are showing as below:

WAR:GDC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Gamedust was 7. The lowest was 1. And the median was 5.

Gamedust  (WAR:GDC) 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.


Gamedust Piotroski F-Score Related Terms


Gamedust Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Gamedust'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.

Gamedust Piotroski F-Score Chart

Gamedust Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 3.00 N/A 4.00

Gamedust Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
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 4.00 4.00 6.00 N/A 6.00

WAR:GDC vs GOOGL, META, SPOT: Piotroski F-Score Comparison

For the Electronic Gaming & Multimedia subindustry, Gamedust'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.


Gamedust Piotroski F-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Gamedust's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Gamedust'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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was -10.428 + -0.207 + 0.046 + -0.18 = zł-10.77 Mil.
Cash Flow from Operations was 0.015 + -0.016 + 0.049 + -0.005 = zł0.04 Mil.
Revenue was 0.177 + 0.159 + 0.259 + 0.058 = zł0.65 Mil.
Gross Profit was 0.169 + 0.159 + 0.259 + 0.058 = zł0.65 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was
(17.457 + 7.102 + 6.998 + 6.748 + 6.574) / 5 = zł8.9758 Mil.
Total Assets at the begining of this year (Sep24) was zł17.46 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł3.70 Mil.
Total Current Liabilities was zł2.11 Mil.
Net Income was -26.951 + -0.815 + -0.302 + -0.74 = zł-28.81 Mil.

Revenue was 0.45 + 0.124 + 0.513 + 0.057 = zł1.14 Mil.
Gross Profit was 1.026 + 0.575 + 0.881 + 0.076 = zł2.56 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was
(44.921 + 18.865 + 18.351 + 18.468 + 17.457) / 5 = zł23.6124 Mil.
Total Assets at the begining of last year (Sep23) was zł44.92 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.91 Mil.
Total Current Assets was zł3.85 Mil.
Total Current Liabilities was zł1.31 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.

Gamedust's current Net Income (TTM) was -10.77. ==> 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.

Gamedust's current Cash Flow from Operations (TTM) was 0.04. ==> Positive ==> Score 1.

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 (Sep24)
=-10.769/17.457
=-0.61688721

ROA (Last Year)=Net Income/Total Assets (Sep23)
=-28.808/44.921
=-0.64130362

Gamedust's return on assets of this year was -0.61688721. Gamedust's return on assets of last year was -0.64130362. ==> This year is higher. ==> Score 1.

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.

Gamedust's current Net Income (TTM) was -10.77. Gamedust's current Cash Flow from Operations (TTM) was 0.04. ==> 0.04 > -10.77 ==> 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: Sep25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep24 to Sep25
=0/8.9758
=0

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0.905/23.6124
=0.03832732

Gamedust's gearing of this year was 0. Gamedust's gearing of last year was 0.03832732. ==> 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: Sep25)=Total Current Assets/Total Current Liabilities
=3.701/2.111
=1.75319754

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=3.854/1.311
=2.93974066

Gamedust's current ratio of this year was 1.75319754. Gamedust's current ratio of last year was 2.93974066. ==> 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.

Gamedust's number of shares in issue this year was 171.699. Gamedust's number of shares in issue last year was 171.699. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=0.645/0.653
=0.98774885

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2.558/1.144
=2.23601399

Gamedust's gross margin of this year was 0.98774885. Gamedust's gross margin of last year was 2.23601399. ==> 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 (Sep24)
=0.653/17.457
=0.0374062

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=1.144/44.921
=0.02546693

Gamedust's asset turnover of this year was 0.0374062. Gamedust's asset turnover of last year was 0.02546693. ==> 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+1+1+1+1+0+1+0+1
=6

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

Gamedust has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
Gamedust (WAR:GDC) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Gamedust and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Gamedust's Piotroski F-Score has ranged from 1.00 to 7.00.
Is Gamedust's Piotroski F-Score too high?
Gamedust'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 1.00 to a high of 7.00. The Interactive Media industry median Piotroski F-Score is 5.00. Gamedust's value of 6 is 20% above this industry median.
How does Gamedust's Piotroski F-Score compare to GOOGL and META?
Gamedust's Piotroski F-Score of 6 can be compared against companies in the Interactive Media industry. The industry median Piotroski F-Score is 5.00. Gamedust's value of 6 is 20% above this benchmark. Historically, Gamedust's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Gamedust 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 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. Gamedust'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 Gamedust 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. Gamedust'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 Gamedust stock overvalued right now?
Gamedust (WAR:GDC) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Interactive Media 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 Gamedust (WAR:GDC), the current Piotroski F-Score is 6 as of Jun. 27, 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.

Gamedust Business Description

Address Ul. Glogowska 216, Poznan, POL, 60-104
Gamedust SA operates in the video-game sector. The company is focused on developing and publishing games for VR and non-VR platforms. Its gaming portfolio include Neverout, Overflight, Spuds Unearthed, Yupitergrad, and others.