Military Group (WAR:MIG) Piotroski F-Score: 5 (As of Jun. 26, 2026) — Near Median


WAR:MIG Military Group SA WAR:MIG
30 GF Score
Price zł0.29
GF Value zł0.11
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Military Group Piotroski F-Score?

Military Group WAR:MIG +2.10% 30 Piotroski F-Score is 5 as of Jun. 26, 2026, which is at its 10-year median of 5.00. GuruFocus rates WAR:MIG with a GF Score™ of 30/100 and a GF Value™ of zł0.11 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,287 Vehicles & Parts companies, Military Group ranks better than 52.37% 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

Military Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

WAR:MIG' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Military Group was 7. The lowest was 2. And the median was 5.

Military Group  (WAR:MIG) 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.


Military Group Piotroski F-Score Related Terms


Military Group Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Military 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.

Military Group Piotroski F-Score Chart

Military Group 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 7.00 4.00 5.00 4.00 2.00

Military Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 5.00 7.00 2.00 5.00

WAR:MIG vs CVNA, PAG, ALTB: Piotroski F-Score Comparison

For the Auto & Truck Dealerships subindustry, Military 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.


Military Group Piotroski F-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Military Group's Piotroski F-Score distribution charts can be found below:

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


WAR:MIG
30GF Score
Military Group SA WAR:MIG
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Mar25) TTM:
Net Income was 6.259 + 0.445 + -13.985 + 6.759 = zł-0.52 Mil.
Cash Flow from Operations was -0.819 + 0.385 + 1.256 + -0.348 = zł0.47 Mil.
Revenue was 5.131 + 2.95 + 1.59 + 0.588 = zł10.26 Mil.
Gross Profit was 1.402 + 0.989 + -0.086 + -0.69 = zł1.62 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(40.544 + 21.042 + 21.222 + 4.764 + 12.567) / 5 = zł20.0278 Mil.
Total Assets at the begining of this year (Mar25) was zł40.54 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł2.91 Mil.
Total Current Liabilities was zł10.34 Mil.
Net Income was -1.003 + -7.9 + 1.8 + -1.449 = zł-8.55 Mil.

Revenue was 5.226 + 7.044 + 10.589 + 3.711 = zł26.57 Mil.
Gross Profit was 1.701 + 3.206 + 4.971 + -0.133 = zł9.75 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(51.099 + 50.218 + 41.592 + 18.194 + 40.544) / 5 = zł40.3294 Mil.
Total Assets at the begining of last year (Mar24) was zł51.10 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Total Current Assets was zł13.28 Mil.
Total Current Liabilities was zł7.68 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.

Military Group's current Net Income (TTM) was -0.52. ==> 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.

Military Group's current Cash Flow from Operations (TTM) was 0.47. ==> 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 (Mar25)
=-0.522/40.544
=-0.0128749

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-8.552/51.099
=-0.1673614

Military Group's return on assets of this year was -0.0128749. Military Group's return on assets of last year was -0.1673614. ==> 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.

Military Group's current Net Income (TTM) was -0.52. Military Group's current Cash Flow from Operations (TTM) was 0.47. ==> 0.47 > -0.52 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=0/20.0278
=0

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0.001/40.3294
=2.48E-5

Military Group's gearing of this year was 0. Military Group's gearing of last year was 2.48E-5. ==> 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
=2.914/10.335
=0.28195452

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=13.28/7.68
=1.72916667

Military Group's current ratio of this year was 0.28195452. Military Group's current ratio of last year was 1.72916667. ==> 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.

Military Group's number of shares in issue this year was 321. Military Group's number of shares in issue last year was 321. ==> 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
=1.615/10.259
=0.15742275

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=9.745/26.57
=0.36676703

Military Group's gross margin of this year was 0.15742275. Military Group's gross margin of last year was 0.36676703. ==> 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 (Mar25)
=10.259/40.544
=0.25303374

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=26.57/51.099
=0.51997104

Military Group's asset turnover of this year was 0.25303374. Military Group's asset turnover of last year was 0.51997104. ==> Last year's asset turnover is higher ==> Score 0.

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+0
=5

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

Military Group has an F-score of 5 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 5 mean?
Military Group (WAR:MIG) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Military Group and its competitors. This is near median its historical median of 5.00. Over the past decade, Military Group's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Military Group ranks #613 out of 1287 companies in the Vehicles & Parts industry, placing it in the top 47.6%.
Is Military Group's Piotroski F-Score too high?
Military Group's current Piotroski F-Score of 5 is near 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. Military Group's value of 5 is 0% at this industry median. Based on the distribution chart, Military Group ranks #613 out of 1287 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Military Group has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Military Group's Piotroski F-Score compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Military Group ranks #613 out of 1287 companies for Piotroski F-Score. This puts Military Group in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Military Group's value of 5 is 0% at this benchmark. Historically, Military 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, Military Group has consistently been at 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 1,287 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. Military Group's current Piotroski F-Score of 5 is 0% at 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 Military 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. Military Group's current Piotroski F-Score is 5, which is near 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 Military Group stock overvalued right now?
Based on GuruFocus' analysis, Military Group (WAR:MIG) is currently considered Significantly Overvalued. The stock's GF Value™ is zł0.11, compared to a current price of zł0.29 — trading 165.5% above its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Vehicles & Parts industry median of 5.00. Military Group's overall GF Score™ is 30/100 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 Military Group (WAR:MIG), the current Piotroski F-Score is 5 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.

Is Military Group (WAR:MIG) Overvalued in 2026?

Based on GuruFocus' analysis, Military Group stock appears to be overvalued. The current stock price of zł0.29 is trading 165.5% above its estimated GF Value™ of zł0.11. GuruFocus considers Military Group to be Significantly Overvalued.

Key valuation signals for WAR:MIG:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: zł0.11 vs. price of zł0.29 (165.5% above fair value)
  • GF Score™: 30/100 with 3 warning signs
  • Industry Position: 0% at the Vehicles & Parts median (#613 of 1287)

No single metric tells the full story. See the WAR:MIG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Military Group Business Description

Address ul. Grunwaldzka 13, Ilawa, POL
Military Group SA offers repair of diesel engines for commercial vehicles and trucks, construction machinery, and agricultural vehicles.
30GF Score

Get the complete analysis for WAR:MIG

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

zł0.29
Price
zł0.11
GF Value