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ZCCM Investments HoldingsXPAR:MLZAM +0.51%30 Piotroski F-Score is 4 as of Sep. 03, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates XPAR:MLZAM with a GF Score™ of 30/100 and a GF Value™ of €0.02 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 2,515 Metals & Mining companies, ZCCM Investments Holdings ranks better than 77.46% 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
ZCCM Investments Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for ZCCM Investments Holdings's Piotroski F-Score or its related term are showing as below:
XPAR:MLZAM'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 6
Current: 4
During the past 13 years, the highest Piotroski F-Score of ZCCM Investments Holdings was 6. The lowest was 2. And the median was 5.
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.
ZCCM Investments Holdings Piotroski F-Score Related Terms
ZCCM Investments Holdings Piotroski F-Score Historical Data
* 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.
For the Other Industrial Metals & Mining subindustry, ZCCM Investments Holdings'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.
ZCCM Investments Holdings Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, ZCCM Investments Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ZCCM Investments Holdings'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.
ZCCM Investments Holdings's current Net Income (TTM) was -222.5.
==> 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.
ZCCM Investments Holdings's current Cash Flow from Operations (TTM) was -57.3.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
ZCCM Investments Holdings's return on assets of this year was -0.08559263. ZCCM Investments Holdings's return on assets of last year was 0.682265.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ZCCM Investments Holdings's gearing of this year was 0.03328546. ZCCM Investments Holdings's gearing of last year was 0.04852554.
==> 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
ZCCM Investments Holdings's current ratio of this year was 1.59828758. ZCCM Investments Holdings's current ratio of last year was 4.01397214.
==> 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.
ZCCM Investments Holdings's number of shares in issue this year was 160.8. ZCCM Investments Holdings's number of shares in issue last year was 160.8.
==> 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.
ZCCM Investments Holdings's gross margin of this year was 0.04252829. ZCCM Investments Holdings's gross margin of last year was -0.15162338.
==> 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
ZCCM Investments Holdings's asset turnover of this year was 0.00295836. ZCCM Investments Holdings's asset turnover of last year was 0.05488809.
==> 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
ZCCM Investments Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.
ZCCM Investments Holdings (XPAR:MLZAM) has a Piotroski F-Score of 4 as of Sep. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ZCCM Investments Holdings and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, ZCCM Investments Holdings' Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, ZCCM Investments Holdings ranks #567 out of 2515 companies in the Metals & Mining industry, placing it in the top 22.5%.
Is ZCCM Investments Holdings' Piotroski F-Score too high?
ZCCM Investments Holdings' current Piotroski F-Score of 4 is 20% below 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 6.00. The Metals & Mining industry median Piotroski F-Score is 3.00. ZCCM Investments Holdings' value of 4 is 33.3% above this industry median. Based on the distribution chart, ZCCM Investments Holdings ranks #567 out of 2515 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, ZCCM Investments Holdings has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ZCCM Investments Holdings' Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, ZCCM Investments Holdings ranks #567 out of 2515 companies for Piotroski F-Score. This places ZCCM Investments Holdings in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. ZCCM Investments Holdings' value of 4 is 33.3% above this benchmark. Historically, ZCCM Investments Holdings' own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 3.00, ZCCM Investments Holdings 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,515 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. ZCCM Investments Holdings's current Piotroski F-Score of 4 is 33.3% 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 ZCCM Investments Holdings and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZCCM Investments Holdings's current Piotroski F-Score is 4, which is 20% below 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 ZCCM Investments Holdings stock overvalued right now?
Based on GuruFocus' analysis, ZCCM Investments Holdings (XPAR:MLZAM) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.02, compared to a current price of €3.94 — trading 19600% above its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 33.3% above the Metals & Mining industry median of 3.00. ZCCM Investments Holdings' overall GF Score™ is 30/100 with 8 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 ZCCM Investments Holdings (XPAR:MLZAM), the current Piotroski F-Score is 4 as of Sep. 03, 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 ZCCM Investments Holdings (XPAR:MLZAM) Overvalued in 2026?
Based on GuruFocus' analysis, ZCCM Investments Holdings stock appears to be overvalued.
The current stock price of €3.94 is trading 19600% above its estimated GF Value™ of €0.02.
GuruFocus considers ZCCM Investments Holdings to be Significantly Overvalued.
Key valuation signals for XPAR:MLZAM:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: €0.02 vs. price of €3.94 (19600% above fair value)
Industry Position: 33.3% above the Metals & Mining median (#567 of 2515)
No single metric tells the full story. See the XPAR:MLZAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ZCCM Investments Holdings PLC is an investment holding company managing the Zambian Government's stake in the mining sector, as the Zambian Government. The company has three operational reportable segments: Mining and processing, Technical Services, and Investments. Maximum revenue is generated from its Mining and processing segment, which comprises entities active in the exploration activities, mining of minerals, and processing of finished products. The minerals mined include copper, gold, amethyst, manganese, and limestone. Geographically, the company generates a majority of its revenue from Switzerland, followed by Zambia, Malawi, India, and the Democratic Republic of Congo.
30GF Score
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