Piotroski deep value

Bullish

Deeply cheap + strong quality and clean accruals + momentum not collapsing. The cohort Piotroski identified.

PRIMARY SOURCE

Piotroski 2000

TYPICAL HORIZON

6-18 months

FACTORS USED

valuequalityaccrualsmomentum

What it means

Cheap stocks typically split into two populations: cheap-because-broken and cheap-because-temporarily-hated. Piotroski's F-Score (9 accounting checks) separates them; we approximate that screen with our quality and accruals factors rather than computing the literal 9-point score. The pattern fires when a deeply cheap name clears both, with price action not in freefall.

Why it works

Piotroski 2000 showed the top F-Score cheap cohort outperforms the bottom cohort by 7-10% per year. The effect comes from correcting analyst over-reaction to short-term bad news on businesses that are actually improving.

Watch out

Small-cap bias in the original study. Works best on stocks under $10B market cap where analyst coverage is thin. Mega-caps with the same factor profile generally have already been arbitraged.

Live matches

34 tickers firing right now

TickerCompanySectorChangeScore

FAFFirst American FinancialFinancial Services-1.09%79[29–95]GOOGAlphabet Inc. Class CTechnology-1.02%78[28–95]MPWRMonolithic Power SystemsSemiconductors+0.80%77[27–95]KEYSKeysight TechnologiesTechnology-0.92%72[22–95]PBRPetrobras (ADR)Energy+2.54%71[21–95]EOGEOG ResourcesEnergy+1.81%71[21–95]DELLDell TechnologiesTechnology-0.63%71[21–95]AMZNAmazon.com Inc.Technology-2.16%71[21–95]MCHPMicrochip TechnologySemiconductors-1.65%68[18–95]MDTMedtronic plcHealthcare-1.94%68[18–95]WYNNWynn ResortsConsumer Cyclical-0.50%67[17–95]PLTRPalantir TechnologiesTechnology-0.70%67[17–95]OVVOvintiv Inc.Energy+1.74%67[17–95]YUMYum! BrandsConsumer+4.39%67[17–95]WTSWatts Water TechnologiesIndustrials-1.29%67[17–95]FNFFidelity National FinancialFinancial Services-2.02%67[17–95]AMDAdvanced Micro DevicesTechnology+0.65%67[17–95]NBIXNeurocrine BiosciencesHealthcare-1.68%65[15–95]DECKDeckers OutdoorConsumer Cyclical-2.96%64[14–95]ALABAstera LabsSemiconductors+0.52%64[14–95]GLBEGlobal-e OnlineTechnology-1.09%63[13–95]AZOAutoZone Inc.Consumer Cyclical-3.73%63[13–95]FIVEFive BelowConsumer Cyclical-2.38%63[13–95]XOMExxon Mobil CorporationEnergy+0.84%62[12–95]EXPDExpeditors InternationalIndustrials-0.02%62[12–95]ALBAlbemarle CorporationBasic Materials-0.07%62[12–95]SESea LimitedTechnology-1.56%61[11–95]EQTEQT CorporationEnergy+0.47%61[11–95]WKWorkiva Inc.Technology-0.42%60[10–95]VEEVVeeva SystemsTechnology-0.19%60[10–95]REGRegency CentersReal Estate+0.14%59[9–95]ROSTRoss StoresConsumer-2.43%58[8–95]NUENucor CorporationBasic Materials-3.32%57[7–95]INVHInvitation HomesReal Estate+0.23%56[6–95]

Disclaimer. Pattern matches are research signals, not investment advice. Past performance of an academic effect does not guarantee future returns. Forward-return tracking for Framler's own implementation begins 2026-05-16 after the calibration window closes.