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Cia Electro Metalurgica (XSGO:ELECMETAL) 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.
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.
Cia Electro Metalurgica Piotroski F-Score Related Terms
Cia Electro Metalurgica Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Cia Electro Metalurgica'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.
XSGO:ELECMETAL vs NUE, STLD, RS: Piotroski F-Score Comparison
For the Steel subindustry, Cia Electro Metalurgica'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.
Cia Electro Metalurgica Piotroski F-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Cia Electro Metalurgica's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Cia Electro Metalurgica'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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 19254.022 + 10815.628 + 30773.961 + 18848.676 = CLP79,692 Mil. Cash Flow from Operations was 36840.969 + 37233.149 + 58340.158 + 42572.728 = CLP174,987 Mil. Revenue was 344967.522 + 334041.193 + 293278.488 + 336939.647 = CLP1,309,227 Mil. Gross Profit was 76419.571 + 67969.23 + 54683.761 + 73157.087 = CLP272,230 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(1625406.743 + 1643391.975 + 1610164.834 + 1639197.182 + 1620540.195) / 5 = CLP1627740.1858 Mil. Total Assets at the begining of this year (Jun25) was CLP1,625,407 Mil. Long-Term Debt & Capital Lease Obligation was CLP327,392 Mil. Total Current Assets was CLP898,271 Mil. Total Current Liabilities was CLP406,836 Mil.
Net Income was 10340.491 + 22990.67 + 11593.9 + 17954.486 = CLP62,880 Mil.
Revenue was 330405.221 + 330444.176 + 298283.31 + 342675.127 = CLP1,301,808 Mil. Gross Profit was 67551.281 + 72542.528 + 60858.791 + 76865.04 = CLP277,818 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(1593261.709 + 1558972.832 + 1615158.202 + 1630454.591 + 1625406.743) / 5 = CLP1604650.8154 Mil. Total Assets at the begining of last year (Jun24) was CLP1,593,262 Mil. Long-Term Debt & Capital Lease Obligation was CLP255,836 Mil. Total Current Assets was CLP877,917 Mil. Total Current Liabilities was CLP533,989 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.
Cia Electro Metalurgica's current Net Income (TTM) was 79,692.
==> 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.
Cia Electro Metalurgica's current Cash Flow from Operations (TTM) was 174,987.
==> 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.
Cia Electro Metalurgica's return on assets of this year was 0.04902914. Cia Electro Metalurgica's return on assets of last year was 0.03946592.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Cia Electro Metalurgica's gearing of this year was 0.20113268. Cia Electro Metalurgica's gearing of last year was 0.15943384.
==> 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
Cia Electro Metalurgica's current ratio of this year was 2.207945. Cia Electro Metalurgica's current ratio of last year was 1.64407293.
==> 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.
Cia Electro Metalurgica's number of shares in issue this year was 43.799. Cia Electro Metalurgica's number of shares in issue last year was 43.8.
==> 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.
Cia Electro Metalurgica's gross margin of this year was 0.20793161. Cia Electro Metalurgica's gross margin of last year was 0.2134091.
==> 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
Cia Electro Metalurgica's asset turnover of this year was 0.80547645. Cia Electro Metalurgica's asset turnover of last year was 0.81707093.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
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Que. 2
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Cia Electro Metalurgica has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Cia Electro Metalurgica (XSGO:ELECMETAL) has a Piotroski F-Score of 6 as of Aug. 12, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Cia Electro Metalurgica and its competitors. This is near median its historical median of 6.00. Over the past decade, Cia Electro Metalurgica's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Cia Electro Metalurgica ranks #137 out of 623 companies in the Steel industry, placing it in the top 22%.
Is Cia Electro Metalurgica's Piotroski F-Score too high?
Cia Electro Metalurgica'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 Steel industry median Piotroski F-Score is 5.00. Cia Electro Metalurgica's value of 6 is 20% above this industry median. Based on the distribution chart, Cia Electro Metalurgica ranks #137 out of 623 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Cia Electro Metalurgica has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cia Electro Metalurgica's Piotroski F-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Cia Electro Metalurgica ranks #137 out of 623 companies for Piotroski F-Score. This places Cia Electro Metalurgica in the top 22% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Cia Electro Metalurgica's value of 6 is 20% above this benchmark. Historically, Cia Electro Metalurgica'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, Cia Electro Metalurgica 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 Steel company?
The median Piotroski F-Score among Steel companies is 5.00, based on 623 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. Cia Electro Metalurgica'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 Cia Electro Metalurgica 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. Cia Electro Metalurgica'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 Cia Electro Metalurgica stock overvalued right now?
Based on GuruFocus' analysis, Cia Electro Metalurgica (XSGO:ELECMETAL) is currently considered Significantly Overvalued. The stock's GF Value™ is CLP8,090.76, compared to a current price of CLP16,000.00 — trading 97.8% above 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 Steel industry median of 5.00. Cia Electro Metalurgica's overall GF Score™ is 50/100 with 7 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 Cia Electro Metalurgica (XSGO:ELECMETAL), the current Piotroski F-Score is 6 as of Aug. 12, 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 Cia Electro Metalurgica (XSGO:ELECMETAL) Overvalued in 2026?
Based on GuruFocus' analysis, Cia Electro Metalurgica stock appears to be overvalued.
The current stock price of CLP16,000.00 is trading 97.8% above its estimated GF Value™ of CLP8,090.76.
GuruFocus considers Cia Electro Metalurgica to be Significantly Overvalued.
Key valuation signals for XSGO:ELECMETAL:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: CLP8,090.76 vs. price of CLP16,000.00 (97.8% above fair value)
Industry Position: 20% above the Steel median (#137 of 623)
No single metric tells the full story. See the XSGO:ELECMETAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cia Electro Metalurgica SA is a supplier of integrated wear solutions for mining, construction, and industry. The company has diversified its operations into the following segments, being Metallurgical, Glass Containers, Wines, Media, Electric Generation, Investments, and Others. The metallurgical segment which generates maximum revenue for the company engages in the manufacturing and marketing of wear parts for crushing, grinding, and earthworks for mining and other industries. The Glass Containers segment is engaged in the manufacturing and marketing of glass containers for wine, beers, soft drinks, liquors, food, and laboratories. The Wine segment produces and markets wines and spirits. The Communication segment includes written press and editorials.
50GF Score
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