ISS AS (XTER:QJQ) Piotroski F-Score: 6 (As of Jun. 25, 2026) — Near Median


XTER:QJQ ISS AS XTER:QJQ
49 GF Score
Price €35.74
GF Value €22.91
Valuation Significantly Overvalued
! 4 Warning Signs
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What is ISS AS Piotroski F-Score?

ISS AS XTER:QJQ +1.36% 49 Piotroski F-Score is 6 as of Jun. 25, 2026, which is at its 10-year median of 6.00. GuruFocus rates XTER:QJQ with a GF Score™ of 49/100 and a GF Value™ of €22.91 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,063 Business Services companies, ISS AS ranks better than 72.25% 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

ISS AS 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 ISS AS's Piotroski F-Score or its related term are showing as below:

XTER:QJQ' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of ISS AS was 8. The lowest was 3. And the median was 6.

ISS AS  (XTER:QJQ) 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.


ISS AS Piotroski F-Score Related Terms


ISS AS Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for ISS AS'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.

ISS AS Piotroski F-Score Chart

ISS AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 7.00 4.00 8.00 6.00

ISS AS Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 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 4.00 0.00 8.00 0.00 6.00

XTER:QJQ vs CTAS, CPRT, GPN: Piotroski F-Score Comparison

For the Specialty Business Services subindustry, ISS AS'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.


ISS AS Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, ISS AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ISS AS's Piotroski F-Score falls into.


XTER:QJQ
49GF Score
ISS AS XTER:QJQ
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 €349 Mil.
Cash Flow from Operations was €534 Mil.
Revenue was €11,338 Mil.
Gross Profit was €10,378 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (6790.435 + 6105.489) / 2 = €6447.962 Mil.
Total Assets at the begining of this year (Dec24) was €6,790 Mil.
Long-Term Debt & Capital Lease Obligation was €1,307 Mil.
Total Current Assets was €2,220 Mil.
Total Current Liabilities was €3,045 Mil.
Net Income was €346 Mil.

Revenue was €11,231 Mil.
Gross Profit was €10,223 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (6398.795 + 6790.435) / 2 = €6594.615 Mil.
Total Assets at the begining of last year (Dec23) was €6,399 Mil.
Long-Term Debt & Capital Lease Obligation was €1,821 Mil.
Total Current Assets was €2,865 Mil.
Total Current Liabilities was €2,990 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.

ISS AS's current Net Income (TTM) was 349. ==> 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.

ISS AS's current Cash Flow from Operations (TTM) was 534. ==> 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)
=348.514/6790.435
=0.05132425

ROA (Last Year)=Net Income/Total Assets (Dec23)
=346.085/6398.795
=0.05408596

ISS AS's return on assets of this year was 0.05132425. ISS AS's return on assets of last year was 0.05408596. ==> 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.

ISS AS's current Net Income (TTM) was 349. ISS AS's current Cash Flow from Operations (TTM) was 534. ==> 534 > 349 ==> 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
=1307.028/6447.962
=0.20270405

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1821.474/6594.615
=0.27620627

ISS AS's gearing of this year was 0.20270405. ISS AS's gearing of last year was 0.27620627. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=2220.421/3044.778
=0.72925547

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=2865.496/2990.2
=0.95829577

ISS AS's current ratio of this year was 0.72925547. ISS AS's current ratio of last year was 0.95829577. ==> 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.

ISS AS's number of shares in issue this year was 168.868. ISS AS's number of shares in issue last year was 183.358. ==> 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
=10378.301/11338.288
=0.91533228

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=10223.264/11231.484
=0.9102327

ISS AS's gross margin of this year was 0.91533228. ISS AS's gross margin of last year was 0.9102327. ==> 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)
=11338.288/6790.435
=1.66974399

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=11231.484/6398.795
=1.75524986

ISS AS's asset turnover of this year was 1.66974399. ISS AS's asset turnover of last year was 1.75524986. ==> 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+1+0+1+1+0
=6

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

ISS AS 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?
ISS AS (XTER:QJQ) has a Piotroski F-Score of 6 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ISS AS and its competitors. This is near median its historical median of 6.00. Over the past decade, ISS AS's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, ISS AS ranks #295 out of 1063 companies in the Business Services industry, placing it in the top 27.8%.
Is ISS AS's Piotroski F-Score too high?
ISS AS'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 3.00 to a high of 8.00. The Business Services industry median Piotroski F-Score is 5.00. ISS AS's value of 6 is 20% above this industry median. Based on the distribution chart, ISS AS ranks #295 out of 1063 companies in the Business Services industry, which is above the industry midpoint. Overall, ISS AS has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ISS AS's Piotroski F-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, ISS AS ranks #295 out of 1063 companies for Piotroski F-Score. This puts ISS AS in the upper half of its industry. The industry median Piotroski F-Score is 5.00. ISS AS's value of 6 is 20% above this benchmark. Historically, ISS AS's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, ISS AS 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 Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,063 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. ISS AS'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 ISS AS and its competitors. For the Business Services 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. ISS AS'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 ISS AS stock overvalued right now?
Based on GuruFocus' analysis, ISS AS (XTER:QJQ) is currently considered Significantly Overvalued. The stock's GF Value™ is €22.91, compared to a current price of €35.74 — trading 56% 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 Business Services industry median of 5.00. ISS AS's overall GF Score™ is 49/100 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 ISS AS (XTER:QJQ), the current Piotroski F-Score is 6 as of Jun. 25, 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 ISS AS (XTER:QJQ) Overvalued in 2026?

Based on GuruFocus' analysis, ISS AS stock appears to be overvalued. The current stock price of €35.74 is trading 56% above its estimated GF Value™ of €22.91. GuruFocus considers ISS AS to be Significantly Overvalued.

Key valuation signals for XTER:QJQ:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: €22.91 vs. price of €35.74 (56% above fair value)
  • GF Score™: 49/100 with 4 warning signs
  • Industry Position: 20% above the Business Services median (#295 of 1063)

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


ISS AS Business Description

Address Buddingevej 197, Soborg, DNK, DK-2860
ISS AS is a provider of workplace and facility service solutions with a focus on cleaning, property, catering, support, security, and facility management. It has four segments: Financial services, Professional services, Technology, and Life sciences. Its core services offered to customers consist of cleaning, food, technical, and workplace services. Revenue is mainly generated in European end markets, with the majority earned in the United Kingdom.
49GF Score

Get the complete analysis for XTER:QJQ

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

€35.74
Price
€22.91
GF Value