Cantourage Group SE (XTER:HIGH) Piotroski F-Score: 4 (As of Jun. 27, 2026) — 33% Below Median


XTER:HIGH Cantourage Group SE XTER:HIGH
22 GF Score
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! 4 Warning Signs
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What is Cantourage Group SE Piotroski F-Score?

Cantourage Group SE XTER:HIGH -1.60% 22 Piotroski F-Score is 4 as of Jun. 27, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates XTER:HIGH with a GF Score™ of 22/100. The stock has 4 warning signs investors should review. Among 981 Drug Manufacturers companies, Cantourage Group SE ranks worse than 61.06% 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

Cantourage Group SE 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 Cantourage Group SE's Piotroski F-Score or its related term are showing as below:

XTER:HIGH' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 6
Current: 4

During the past 5 years, the highest Piotroski F-Score of Cantourage Group SE was 6. The lowest was 4. And the median was 6.

Cantourage Group SE  (XTER:HIGH) 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.


Cantourage Group SE Piotroski F-Score Related Terms


Cantourage Group SE Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Cantourage Group SE'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.

Cantourage Group SE Piotroski F-Score Chart

Cantourage Group SE Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A 6.00 6.00 4.00

Cantourage Group SE Semi-Annual Data
Dec19 Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Jun25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only 6.00 0.00 4.00 0.00 0.00

XTER:HIGH vs ZTS, UTHR, VTRS: Piotroski F-Score Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Cantourage Group SE'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.


Cantourage Group SE Piotroski F-Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Cantourage Group SE's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cantourage Group SE's Piotroski F-Score falls into.


XTER:HIGH
22GF Score
Cantourage Group SE XTER:HIGH
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was €-4.27 Mil.
Cash Flow from Operations was €0.00 Mil.
Revenue was €23.56 Mil.
Gross Profit was €7.41 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (44.785 + 44.178) / 2 = €44.4815 Mil.
Total Assets at the begining of this year (Dec22) was €44.79 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Total Current Assets was €7.28 Mil.
Total Current Liabilities was €3.25 Mil.
Net Income was €0.01 Mil.

Revenue was €0.60 Mil.
Gross Profit was €0.60 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (4.873 + 44.785) / 2 = €24.829 Mil.
Total Assets at the begining of last year (Dec21) was €4.87 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Total Current Assets was €4.14 Mil.
Total Current Liabilities was €0.29 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.

Cantourage Group SE's current Net Income (TTM) was -4.27. ==> 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.

Cantourage Group SE's current Cash Flow from Operations (TTM) was 0.00. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=-4.273/44.785
=-0.09541141

ROA (Last Year)=Net Income/Total Assets (Dec21)
=0.009/4.873
=0.00184691

Cantourage Group SE's return on assets of this year was -0.09541141. Cantourage Group SE's return on assets of last year was 0.00184691. ==> 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.

Cantourage Group SE's current Net Income (TTM) was -4.27. Cantourage Group SE's current Cash Flow from Operations (TTM) was 0.00. ==> 0.00 > -4.27 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0/44.4815
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/24.829
=0

Cantourage Group SE's gearing of this year was 0. Cantourage Group SE's gearing of last year was 0. ==> 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

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=7.28/3.254
=2.23724647

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=4.138/0.289
=14.3183391

Cantourage Group SE's current ratio of this year was 2.23724647. Cantourage Group SE's current ratio of last year was 14.3183391. ==> 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.

Cantourage Group SE's number of shares in issue this year was 12.467. Cantourage Group SE's number of shares in issue last year was 0. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=7.41/23.557
=0.31455618

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.603/0.603
=1

Cantourage Group SE's gross margin of this year was 0.31455618. Cantourage Group SE's gross margin of last year was 1. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=23.557/44.785
=0.52600201

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=0.603/4.873
=0.12374307

Cantourage Group SE's asset turnover of this year was 0.52600201. Cantourage Group SE's asset turnover of last year was 0.12374307. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+1+0+0+0+1
=3

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

Cantourage Group SE has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
Cantourage Group SE (XTER:HIGH) has a Piotroski F-Score of 4 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Cantourage Group SE and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Cantourage Group SE's Piotroski F-Score has ranged from 4.00 to 6.00. According to the industry distribution chart, Cantourage Group SE ranks #599 out of 981 companies in the Drug Manufacturers industry, placing it in the top 61.1%.
Is Cantourage Group SE's Piotroski F-Score too high?
Cantourage Group SE's current Piotroski F-Score of 4 is 33% below 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 6.00. The Drug Manufacturers industry median Piotroski F-Score is 5.00. Cantourage Group SE's value of 4 is 20% below this industry median. Based on the distribution chart, Cantourage Group SE ranks #599 out of 981 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Cantourage Group SE has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Cantourage Group SE's Piotroski F-Score compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Cantourage Group SE ranks #599 out of 981 companies for Piotroski F-Score. This places Cantourage Group SE in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Cantourage Group SE's value of 4 is 20% below this benchmark. Historically, Cantourage Group SE's own Piotroski F-Score has ranged from 4.00 to 6.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Cantourage Group SE 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 Drug Manufacturers company?
The median Piotroski F-Score among Drug Manufacturers companies is 5.00, based on 981 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. Cantourage Group SE's current Piotroski F-Score of 4 is 20% 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 Cantourage Group SE and its competitors. For the Drug Manufacturers 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. Cantourage Group SE's current Piotroski F-Score is 4, which is 33% 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 Cantourage Group SE stock overvalued right now?
Cantourage Group SE (XTER:HIGH) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Drug Manufacturers industry median of 5.00. Cantourage Group SE's overall GF Score™ is 22/100 with 4 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 Cantourage Group SE (XTER:HIGH), the current Piotroski F-Score is 4 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.

Cantourage Group SE Business Description

Other Exchanges HIGH:GermanyHIGH:Germany
Address Feurigstrasse 54, Berlin, DEU, 10827
Cantourage Group SE is engaged in the manufacture and wholesale of medicinal preparations based on cannabis and the trade and distribution of other legally permissible cannabis products, medical devices, pharmaceuticals, and accessories. The group offers cannabis flowers, dronabinol, CBD, and extracts of various strains.
22GF Score

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

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