Icape HoldingXPAR:ALICA -0.29%84 Piotroski F-Score is 5 as of Jun. 27, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates XPAR:ALICA with a GF Score™ of 84/100 and a GF Value™ of €11.06 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,426 Hardware companies, Icape Holding ranks better than 59.56% 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
Icape Holding 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 Icape Holding's Piotroski F-Score or its related term are showing as below:
XPAR:ALICA'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 8
Current: 5
During the past 8 years, the highest Piotroski F-Score of Icape Holding was 8. The lowest was 5. 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.
Icape Holding Piotroski F-Score Related Terms
Icape Holding Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Icape Holding'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.
XPAR:ALICA vs APH, GLW, TEL: Piotroski F-Score Comparison
For the Electronic Components subindustry, Icape Holding'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.
Icape Holding Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Icape Holding's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Icape Holding'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.
Icape Holding's current Net Income (TTM) was -0.4.
==> 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.
Icape Holding's return on assets of this year was -0.00231181. Icape Holding's return on assets of last year was 0.02519654.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Icape Holding's gearing of this year was 0.23534274. Icape Holding's gearing of last year was 0.27402422.
==> 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
Icape Holding's current ratio of this year was 0.90154944. Icape Holding's current ratio of last year was 1.0361287.
==> 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.
Icape Holding's number of shares in issue this year was 8.088. Icape Holding's number of shares in issue last year was 8.088.
==> 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.
Icape Holding's gross margin of this year was 0.3376873. Icape Holding's gross margin of last year was 0.34926134.
==> 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
Icape Holding's asset turnover of this year was 1.25475049. Icape Holding's asset turnover of last year was 1.21374061.
==> 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
Icape Holding has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Icape Holding (XPAR:ALICA) has a Piotroski F-Score of 5 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Icape Holding and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Icape Holding's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Icape Holding ranks #981 out of 2426 companies in the Hardware industry, placing it in the top 40.4%.
Is Icape Holding's Piotroski F-Score too high?
Icape Holding's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Hardware industry median Piotroski F-Score is 5.00. Icape Holding's value of 5 is 0% at this industry median. Based on the distribution chart, Icape Holding ranks #981 out of 2426 companies in the Hardware industry, which is above the industry midpoint. Overall, Icape Holding has a GF Score™ of 84/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Icape Holding's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Icape Holding ranks #981 out of 2426 companies for Piotroski F-Score. This puts Icape Holding in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Icape Holding's value of 5 is 0% at this benchmark. Historically, Icape Holding's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Icape Holding 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,426 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. Icape Holding'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 Icape Holding and its competitors. For the Hardware 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. Icape Holding's current Piotroski F-Score is 5, which is 17% 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 Icape Holding stock overvalued right now?
Based on GuruFocus' analysis, Icape Holding (XPAR:ALICA) is currently considered Possible Value Trap. The stock's GF Value™ is €11.06, compared to a current price of €6.80 — trading 38.5% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Hardware industry median of 5.00. Icape Holding's overall GF Score™ is 84/100 with 5 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 Icape Holding (XPAR:ALICA), the current Piotroski F-Score is 5 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.
Is Icape Holding (XPAR:ALICA) Overvalued in 2026?
Based on GuruFocus' analysis, Icape Holding stock appears to be undervalued.
The current stock price of €6.80 is trading 38.5% below its estimated GF Value™ of €11.06.
GuruFocus considers Icape Holding to be Possible Value Trap.
Key valuation signals for XPAR:ALICA:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: €11.06 vs. price of €6.80 (38.5% below fair value)
Industry Position: 0% at the Hardware median (#981 of 2426)
No single metric tells the full story. See the XPAR:ALICA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Icape Holding SA is engaged in the distribution, trade, and production of printed circuit boards (PCB), which are essential components used across the electronics industry, including the business, telecommunications, automotive, connected objects, home automation, e-mobility, medical, power, multimedia, and IT industries. Its segemnts are: It operates through the Trade in printed circuit boards (PCB) - Americas; Trade and production of printed circuit boards (PCB); Trade and production of printed circuit boards (PCB) - Central Europe; Trade in printed circuit boards (PCB) - Asia and the Rest of the World, which generates maximum revenue; Trade and production of technical parts (Tech Parts) - Europe; and Trade and production of technical parts (Tech Parts) - Rest of the World.
84GF Score
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