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

31 tickers firing right now

TickerCompanySectorChangeScore

FAFFirst American FinancialFinancial Services+1.59%79[13–95]MARMarriott InternationalConsumer+1.18%76[10–95]AMGAffiliated ManagersFinancial Services-0.14%75[9–95]ORealty IncomeReal Estate+1.12%72[6–95]MDTMedtronic plcHealthcare-0.07%72[19–95]BKNGBooking HoldingsConsumer-0.79%70[5–95]CHRDChord EnergyEnergy+0.12%70[5–95]ALBAlbemarle CorporationBasic Materials-0.42%69[5–95]WYNNWynn ResortsConsumer Cyclical-1.84%69[5–95]MNDYMonday.com Ltd.Technology-1.88%68[5–95]GOOGAlphabet Inc. Class CTechnology+1.62%67[5–95]PLDPrologis Inc.Real Estate+0.57%66[5–95]PBRPetrobras (ADR)Energy+3.19%66[5–95]FISFidelity National InfoTechnology-1.99%66[5–95]ADIAnalog DevicesSemiconductors+3.10%64[11–95]RGAReinsurance GroupFinancial Services+1.96%64[5–95]CVXChevron CorporationEnergy-0.20%63[5–95]COKECoca-Cola ConsolidatedConsumer Defensive+2.63%63[5–95]TERTeradyne Inc.Semiconductors+8.00%63[5–95]RBCRBC BearingsIndustrials+1.39%62[5–95]DVNDevon EnergyEnergy+1.04%62[5–95]OVVOvintiv Inc.Energy+0.60%62[5–95]INVHInvitation HomesReal Estate-1.36%61[5–95]HPEHewlett Packard EnterpriseTechnology+7.36%61[5–95]FIVEFive BelowConsumer Cyclical+0.01%61[5–95]AMDAdvanced Micro DevicesTechnology+2.95%60[7–95]GMEDGlobus MedicalHealthcare+1.60%59[5–95]EXPDExpeditors InternationalIndustrials+2.52%59[5–95]AMEAMETEK Inc.Industrials+1.14%58[5–95]STLDSteel DynamicsBasic Materials+2.57%57[5–95]XOMExxon Mobil CorporationEnergy+0.12%56[5–95]

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.