Zenit Investment Holding AD (XBUL:ZNTH) Piotroski F-Score

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What is Zenit Investment Holding AD Piotroski F-Score?

Zenit Investment Holding AD does not have enough data to calculate Piotroski F-Score.

Zenit Investment Holding AD Piotroski F-Score Historical Data

The historical data trend for Zenit Investment Holding AD's Piotroski F-Score can be seen below:

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Piotroski F-Score

Zenit Investment Holding AD (XBUL:ZNTH) 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.

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Zenit Investment Holding AD (XBUL:ZNTH) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Zenit Investment Holding AD (XBUL:ZNTH) » Definitions » Piotroski F-Score

Traded in Other Exchanges

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Address

73 Todor Aleksandrov Boulevard, Sofia, BGR, 1303

Website

https://www.zenit-bg.com

Zenit Investment Holding AD is involved in the management, acquisition, and sale of interests in Bulgaria and foreign companies. The company is also engaged in the acquisition, appraisal and managing of shares, bonds, evaluation and sale of patents, assignment of licenses for the use of patents to companies in which the company participates; financing of companies in which the company participates.

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