Rodna Zemya Holding AD (XBUL:HRZ) Piotroski F-Score: 6 (As of Jul. 11, 2026) — Near Median


XBUL:HRZ Rodna Zemya Holding AD XBUL:HRZ
55 GF Score
Price €1.70
GF Value €3.24
Valuation Possible Value Trap
! 9 Warning Signs
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What is Rodna Zemya Holding AD Piotroski F-Score?

Rodna Zemya Holding AD XBUL:HRZ 55 Piotroski F-Score is 6 as of Jul. 11, 2026, which is at its 10-year median of 6.00. GuruFocus rates XBUL:HRZ with a GF Score™ of 55/100 and a GF Value™ of €3.24 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 558 Conglomerates companies, Rodna Zemya Holding AD ranks better than 71.86% 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

Rodna Zemya Holding AD 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 Rodna Zemya Holding AD's Piotroski F-Score or its related term are showing as below:

XBUL:HRZ' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 6

During the past 9 years, the highest Piotroski F-Score of Rodna Zemya Holding AD was 8. The lowest was 4. And the median was 6.

Rodna Zemya Holding AD  (XBUL:HRZ) 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.


Rodna Zemya Holding AD Piotroski F-Score Related Terms


Rodna Zemya Holding AD Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Rodna Zemya Holding AD'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.

Rodna Zemya Holding AD Piotroski F-Score Chart

Rodna Zemya Holding AD Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 7.00 6.00 7.00 8.00 7.00

Rodna Zemya Holding AD Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 7.00 8.00 8.00 6.00 6.00

XBUL:HRZ vs HON, MMM: Piotroski F-Score Comparison

For the Conglomerates subindustry, Rodna Zemya Holding AD'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.


Rodna Zemya Holding AD Piotroski F-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Rodna Zemya Holding AD's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Rodna Zemya Holding AD's Piotroski F-Score falls into.


XBUL:HRZ
55GF Score
Rodna Zemya Holding AD XBUL:HRZ
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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was 0.083 + -0.039 + 0.621 + 0.744 = €1.41 Mil.
Cash Flow from Operations was -0.086 + -0.258 + -0.656 + 5.013 = €4.01 Mil.
Revenue was 0.006 + 0.008 + 74.303 + 22.791 = €97.11 Mil.
Gross Profit was -0.001 + 0.008 + 20.78 + 7.005 = €27.79 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(180.956 + 105.202 + 105.173 + 178.193 + 223.733) / 5 = €158.6514 Mil.
Total Assets at the begining of this year (Dec24) was €180.96 Mil.
Long-Term Debt & Capital Lease Obligation was €76.66 Mil.
Total Current Assets was €77.73 Mil.
Total Current Liabilities was €78.31 Mil.
Net Income was 0.026 + 0.026 + 4.833 + -1.703 = €3.18 Mil.

Revenue was 0.01 + 0.01 + 75.233 + 22.167 = €97.42 Mil.
Gross Profit was 0.004 + 0.005 + 20.694 + 6.324 = €27.03 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(173.81 + 180.228 + 182.097 + 177.241 + 180.956) / 5 = €178.8664 Mil.
Total Assets at the begining of last year (Dec23) was €173.81 Mil.
Long-Term Debt & Capital Lease Obligation was €21.12 Mil.
Total Current Assets was €87.32 Mil.
Total Current Liabilities was €94.68 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.

Rodna Zemya Holding AD's current Net Income (TTM) was 1.41. ==> 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.

Score 1 if positive, 0 if negative.

Rodna Zemya Holding AD's current Cash Flow from Operations (TTM) was 4.01. ==> 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 (Dec24)
=1.409/180.956
=0.00778642

ROA (Last Year)=Net Income/Total Assets (Dec23)
=3.182/173.81
=0.01830735

Rodna Zemya Holding AD's return on assets of this year was 0.00778642. Rodna Zemya Holding AD's return on assets of last year was 0.01830735. ==> 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.

Rodna Zemya Holding AD's current Net Income (TTM) was 1.41. Rodna Zemya Holding AD's current Cash Flow from Operations (TTM) was 4.01. ==> 4.01 > 1.41 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=76.657/158.6514
=0.48317884

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=21.116/178.8664
=0.11805459

Rodna Zemya Holding AD's gearing of this year was 0.48317884. Rodna Zemya Holding AD's gearing of last year was 0.11805459. ==> 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=77.727/78.314
=0.99250453

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=87.319/94.681
=0.92224417

Rodna Zemya Holding AD's current ratio of this year was 0.99250453. Rodna Zemya Holding AD's current ratio of last year was 0.92224417. ==> 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.

Rodna Zemya Holding AD's number of shares in issue this year was 56.011. Rodna Zemya Holding AD's number of shares in issue last year was 56.011. ==> 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
=27.792/97.108
=0.28619681

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=27.027/97.42
=0.27742763

Rodna Zemya Holding AD's gross margin of this year was 0.28619681. Rodna Zemya Holding AD's gross margin of last year was 0.27742763. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=97.108/180.956
=0.53663874

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=97.42/173.81
=0.56049709

Rodna Zemya Holding AD's asset turnover of this year was 0.53663874. Rodna Zemya Holding AD's asset turnover of last year was 0.56049709. ==> 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
=1+1+0+1+0+1+1+1+0
=6

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

Rodna Zemya Holding AD 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?
Rodna Zemya Holding AD (XBUL:HRZ) has a Piotroski F-Score of 6 as of Jul. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Rodna Zemya Holding AD and its competitors. This is near median its historical median of 6.00. Over the past decade, Rodna Zemya Holding AD's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Rodna Zemya Holding AD ranks #157 out of 558 companies in the Conglomerates industry, placing it in the top 28.1%.
Is Rodna Zemya Holding AD's Piotroski F-Score too high?
Rodna Zemya Holding AD's current Piotroski F-Score of 6 is near 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 Conglomerates industry median Piotroski F-Score is 5.00. Rodna Zemya Holding AD's value of 6 is 20% above this industry median. Based on the distribution chart, Rodna Zemya Holding AD ranks #157 out of 558 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Rodna Zemya Holding AD has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Rodna Zemya Holding AD's Piotroski F-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, Rodna Zemya Holding AD ranks #157 out of 558 companies for Piotroski F-Score. This puts Rodna Zemya Holding AD in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Rodna Zemya Holding AD's value of 6 is 20% above this benchmark. Historically, Rodna Zemya Holding AD's 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, Rodna Zemya Holding AD 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 Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 5.00, based on 558 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. Rodna Zemya Holding AD'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 Rodna Zemya Holding AD and its competitors. For the Conglomerates 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. Rodna Zemya Holding AD's current Piotroski F-Score is 6, which is near 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 Rodna Zemya Holding AD stock overvalued right now?
Based on GuruFocus' analysis, Rodna Zemya Holding AD (XBUL:HRZ) is currently considered Possible Value Trap. The stock's GF Value™ is €3.24, compared to a current price of €1.70 — trading 47.5% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Conglomerates industry median of 5.00. Rodna Zemya Holding AD's overall GF Score™ is 55/100 with 9 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 Rodna Zemya Holding AD (XBUL:HRZ), the current Piotroski F-Score is 6 as of Jul. 11, 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 Rodna Zemya Holding AD (XBUL:HRZ) Overvalued in 2026?

Based on GuruFocus' analysis, Rodna Zemya Holding AD stock appears to be undervalued. The current stock price of €1.70 is trading 47.5% below its estimated GF Value™ of €3.24. GuruFocus considers Rodna Zemya Holding AD to be Possible Value Trap.

Key valuation signals for XBUL:HRZ:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: €3.24 vs. price of €1.70 (47.5% below fair value)
  • GF Score™: 55/100 with 9 warning signs
  • Industry Position: 20% above the Conglomerates median (#157 of 558)

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


Rodna Zemya Holding AD Business Description

55GF Score

Get the complete analysis for XBUL:HRZ

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

€1.70
Price
€3.24
GF Value