Notoria SerwisWAR:NTS 84 Piotroski F-Score is 8 as of Jul. 06, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates WAR:NTS with a GF Score™ of 84/100 and a GF Value™ of zł8.12 (Fairly Valued). The stock has 3 warning signs investors should review. Among 784 Capital Markets companies, Notoria Serwis ranks better than 98.34% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Notoria Serwis has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Notoria Serwis's Piotroski F-Score or its related term are showing as below:
WAR:NTS'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Notoria Serwis was 8. The lowest was 4. And the median was 6.
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.
Notoria Serwis Piotroski F-Score Related Terms
Notoria Serwis Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Notoria Serwis'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.
WAR:NTS vs SPGI, CME, MCO: Piotroski F-Score Comparison
For the Financial Data & Stock Exchanges subindustry, Notoria Serwis'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.
Notoria Serwis Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Notoria Serwis's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Notoria Serwis'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.
*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.
Notoria Serwis's current Net Income (TTM) was 0.20.
==> 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.
Notoria Serwis's return on assets of this year was 0.05964699. Notoria Serwis's return on assets of last year was 0.03955649.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Notoria Serwis's current ratio of this year was 0.66816143. Notoria Serwis's current ratio of last year was 0.90522586.
==> 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.
Notoria Serwis's number of shares in issue this year was 1.2. Notoria Serwis's number of shares in issue last year was 1.2.
==> 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.
Notoria Serwis's gross margin of this year was 0.62608925. Notoria Serwis's gross margin of last year was 0.61910995.
==> This year's gross margin is higher. ==> Score 1.
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
Notoria Serwis's asset turnover of this year was 1.152465. Notoria Serwis's asset turnover of last year was 1.14474079.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Notoria Serwis has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Notoria Serwis (WAR:NTS) has a Piotroski F-Score of 8 as of Jul. 06, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Notoria Serwis and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Notoria Serwis' Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Notoria Serwis ranks #13 out of 784 companies in the Capital Markets industry, placing it in the top 1.7%.
Is Notoria Serwis' Piotroski F-Score too high?
Notoria Serwis' current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Capital Markets industry median Piotroski F-Score is 5.00. Notoria Serwis' value of 8 is 60% above this industry median. Based on the distribution chart, Notoria Serwis ranks #13 out of 784 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Notoria Serwis has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Notoria Serwis' Piotroski F-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Notoria Serwis ranks #13 out of 784 companies for Piotroski F-Score. This places Notoria Serwis in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Notoria Serwis' value of 8 is 60% above this benchmark. Historically, Notoria Serwis' own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Notoria Serwis 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 Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 784 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. Notoria Serwis's current Piotroski F-Score of 8 is 60% 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 Notoria Serwis and its competitors. For the Capital Markets 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. Notoria Serwis's current Piotroski F-Score is 8, which is 33% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Notoria Serwis stock overvalued right now?
Based on GuruFocus' analysis, Notoria Serwis (WAR:NTS) is currently considered Fairly Valued. The stock's GF Value™ is zł8.12, compared to a current price of zł8.45 — trading 4.1% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Capital Markets industry median of 5.00. Notoria Serwis' overall GF Score™ is 84/100 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 Notoria Serwis (WAR:NTS), the current Piotroski F-Score is 8 as of Jul. 06, 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 Notoria Serwis (WAR:NTS) Overvalued in 2026?
Based on GuruFocus' analysis, Notoria Serwis stock appears to be overvalued.
The current stock price of zł8.45 is trading 4.1% above its estimated GF Value™ of zł8.12.
GuruFocus considers Notoria Serwis to be Fairly Valued.
Key valuation signals for WAR:NTS:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: zł8.12 vs. price of zł8.45 (4.1% above fair value)
Industry Position: 60% above the Capital Markets median (#13 of 784)
No single metric tells the full story. See the WAR:NTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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