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ZBM ZREMB-ChojniceWAR:ZRE +7.56%71 Piotroski F-Score is 3 as of Jul. 16, 2026, which is 50% below its 10-year median of 6.00. GuruFocus rates WAR:ZRE with a GF Score™ of 71/100 and a GF Value™ of zł4.70 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 622 Steel companies, ZBM ZREMB-Chojnice ranks worse than 81.19% 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
ZBM ZREMB-Chojnice 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 ZBM ZREMB-Chojnice's Piotroski F-Score or its related term are showing as below:
WAR:ZRE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 6 Max: 9
Current: 3
During the past 13 years, the highest Piotroski F-Score of ZBM ZREMB-Chojnice was 9. The lowest was 1. 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.
ZBM ZREMB-Chojnice Piotroski F-Score Related Terms
ZBM ZREMB-Chojnice Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for ZBM ZREMB-Chojnice'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:ZRE vs NUE, STLD, RS: Piotroski F-Score Comparison
For the Steel subindustry, ZBM ZREMB-Chojnice'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.
ZBM ZREMB-Chojnice Piotroski F-Score vs Steel Industry
For the Steel industry and Basic Materials sector, ZBM ZREMB-Chojnice's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ZBM ZREMB-Chojnice'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.
ZBM ZREMB-Chojnice's current Net Income (TTM) was 8.92.
==> 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.
ZBM ZREMB-Chojnice's return on assets of this year was 0.15833304. ZBM ZREMB-Chojnice's return on assets of last year was 0.24590805.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ZBM ZREMB-Chojnice's gearing of this year was 0.00315874. ZBM ZREMB-Chojnice's gearing of last year was 0.
==> Last year is lower than this year ==> Score 0.
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
ZBM ZREMB-Chojnice's current ratio of this year was 0.84857082. ZBM ZREMB-Chojnice's current ratio of last year was 0.87325905.
==> 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.
ZBM ZREMB-Chojnice's number of shares in issue this year was 14. ZBM ZREMB-Chojnice's number of shares in issue last year was 14.
==> 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.
ZBM ZREMB-Chojnice's gross margin of this year was 0.18415021. ZBM ZREMB-Chojnice's gross margin of last year was 0.25706143.
==> 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
ZBM ZREMB-Chojnice's asset turnover of this year was 0.72818637. ZBM ZREMB-Chojnice's asset turnover of last year was 0.86190631.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ZBM ZREMB-Chojnice has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
ZBM ZREMB-Chojnice (WAR:ZRE) has a Piotroski F-Score of 3 as of Jul. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ZBM ZREMB-Chojnice and its competitors. This is 50% below median its historical median of 6.00. Over the past decade, ZBM ZREMB-Chojnice's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, ZBM ZREMB-Chojnice ranks #505 out of 622 companies in the Steel industry, placing it in the top 81.2%.
Is ZBM ZREMB-Chojnice's Piotroski F-Score too high?
ZBM ZREMB-Chojnice's current Piotroski F-Score of 3 is 50% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Steel industry median Piotroski F-Score is 5.00. ZBM ZREMB-Chojnice's value of 3 is 40% below this industry median. Based on the distribution chart, ZBM ZREMB-Chojnice ranks #505 out of 622 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, ZBM ZREMB-Chojnice has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ZBM ZREMB-Chojnice's Piotroski F-Score compare to NUE and STLD?
According to the Steel industry distribution chart, ZBM ZREMB-Chojnice ranks #505 out of 622 companies for Piotroski F-Score. This places ZBM ZREMB-Chojnice in the lower half of its industry. The industry median Piotroski F-Score is 5.00. ZBM ZREMB-Chojnice's value of 3 is 40% below this benchmark. Historically, ZBM ZREMB-Chojnice's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, ZBM ZREMB-Chojnice 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 Steel company?
The median Piotroski F-Score among Steel companies is 5.00, based on 622 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. ZBM ZREMB-Chojnice'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 ZBM ZREMB-Chojnice and its competitors. For the Steel 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. ZBM ZREMB-Chojnice's current Piotroski F-Score is 3, which is 50% below 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 ZBM ZREMB-Chojnice stock overvalued right now?
Based on GuruFocus' analysis, ZBM ZREMB-Chojnice (WAR:ZRE) is currently considered Significantly Overvalued. The stock's GF Value™ is zł4.70, compared to a current price of zł9.67 — trading 105.7% above its estimated fair value. The current Piotroski F-Score is 3, which is 50% below median its 10-year median of 6.00 and 40% below the Steel industry median of 5.00. ZBM ZREMB-Chojnice's overall GF Score™ is 71/100 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 ZBM ZREMB-Chojnice (WAR:ZRE), the current Piotroski F-Score is 3 as of Jul. 16, 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 ZBM ZREMB-Chojnice (WAR:ZRE) Overvalued in 2026?
Based on GuruFocus' analysis, ZBM ZREMB-Chojnice stock appears to be overvalued.
The current stock price of zł9.67 is trading 105.7% above its estimated GF Value™ of zł4.70.
GuruFocus considers ZBM ZREMB-Chojnice to be Significantly Overvalued.
Key valuation signals for WAR:ZRE:
Piotroski F-Score: 3 (50% below median its 10-year median of 6.00)
GF Value™: zł4.70 vs. price of zł9.67 (105.7% above fair value)
Industry Position: 40% below the Steel median (#505 of 622)
No single metric tells the full story. See the WAR:ZRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ZBM ZREMB-Chojnice SA is a producer of steel constructions and containers. The company produces containers for shipping and drilling platforms; basket containers for transportation of equipment to drilling platforms, Mini-Mud freight containers for transportation of equipment and food to drilling platform, Borekaks containers for the transportation of waste material, Specialist containers for machine shops, compression shops, generators, Containers and platforms for the Army, Containers for radioactive waste and Steel roof constructions and frames for glazed facades. Its products include reinforced ceiling military containers, field containers, 3IN1 and 2IN1 container, off-shore container, baskets, and mudskips.
71GF Score
Get the complete analysis for WAR:ZRE
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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