Piotroski F-Score Stock Screen — Nordics
Joseph Piotroski's F-Score gives a company one point for each of nine signs of improving financial health: profits, cash flow, falling debt, better margins and asset turnover, and no new shares issued. This screen keeps companies scoring 8 or 9 that also trade at a modest price-to-book, the cheap end of the market Piotroski studied.
The rules of this screen
A stock listed in the Nordics appears below only if it passes every rule:
- Price-to-book of 1.5 or less (share price at most 1.5x book value per share)
- Piotroski F-Score of 8 or more (out of 9)
- Market cap of at least €50 million
Data comes from company filings and market prices, refreshed after every trading day. Stocks with a missing value for any rule are left out.
Piotroski F-Score Stock Screen — Nordics: top stocks by market cap
44 Nordic stocks match this screen. Top 30 by market cap, data as of 13 Nov 2026.
| # | Company | Ticker | Sector | Mkt Cap | P/E | Div Yield | 1Y |
|---|---|---|---|---|---|---|---|
| 1 | Telefonaktiebolaget LM Ericsson (publ) | ERIBRHEL | Technology | €31.0B | 18.1 | 2.77% | +30.0% |
| 2 | Fastighets AB Balder (publ) | BALD-BSTO | Real Estate | €5.5B | 11.4 | 0.00% | -23.5% |
| 3 | Sinch AB (publ) | SINCHSTO | Communication Services | €2.8B | 49.3 | 0.00% | +57.3% |
| 4 | AB Electrolux (publ) | ELUX-BSTO | Consumer Cyclical | €2.4B | — | 0.00% | -45.0% |
| 5 | AB Electrolux (publ) | ELUX-ASTO | Consumer Cyclical | €2.4B | — | 0.00% | -50.0% |
| 6 | Bavarian Nordic A/S | BAVACPH | Healthcare | €2.4B | 12.2 | 0.00% | +0.9% |
| 7 | Kemira Oyj | KEMIRAHEL | Basic Materials | €2.3B | 20.2 | 4.83% | -10.9% |
| 8 | Zealand Pharma A/S | ZEALCPH | Healthcare | €2.1B | 5.5 | 0.00% | -51.7% |
| 9 | Lumo Kodit Oyj | LUMOHEL | Real Estate | €1.9B | — | 1.54% | -31.0% |
| 10 | Storskogen Group AB (publ) | STOR-BSTO | Industrials | €1.8B | 17.4 | 0.95% | +2.7% |
| 11 | Husqvarna AB (publ) | HUSQ-BSTO | Industrials | €1.7B | 18.5 | 4.55% | -25.0% |
| 12 | Husqvarna AB (publ) | HUSQ-ASTO | Industrials | €1.7B | 18.4 | 4.54% | -25.1% |
| 13 | Entra ASA | ENTRAOSL | Real Estate | €1.7B | — | 2.22% | -10.5% |
| 14 | BlueNord ASA | BNOROSL | Energy | €1.3B | 572.2 | 12.22% | +44.5% |
| 15 | NP3 Fastigheter AB (publ) | NP3STO | Real Estate | €1.3B | 9.1 | 2.73% | -7.3% |
| 16 | Ratos AB (publ) | RATO-ASTO | Industrials | €1.3B | — | 3.28% | +14.2% |
| 17 | Ratos AB (publ) | RATO-BSTO | Industrials | €1.3B | — | 3.30% | +19.6% |
| 18 | Lindab International AB (publ) | LIABSTO | Industrials | €915.7M | 21.5 | 4.32% | -39.6% |
| 19 | YIT Oyj | YITHEL | Industrials | €846.7M | — | 0.00% | +23.2% |
| 20 | Terveystalo Oyj | TTALOHEL | Healthcare | €777.3M | 13.6 | 10.41% | -31.2% |
| 21 | Diös Fastigheter AB (publ) | DIOSSTO | Real Estate | €747.1M | 7.1 | 4.02% | -4.9% |
| 22 | Citycon Oyj | CTY1SHEL | Real Estate | €546.1M | 11.9 | 29.80% | +2.8% |
| 23 | Solstad Offshore ASA | SOFFOSL | Energy | €537.1M | 4.0 | 8.12% | +60.0% |
| 24 | BHG Group AB (publ) | BHGSTO | Consumer Cyclical | €401.6M | 29.1 | 0.00% | -11.8% |
| 25 | Raisio plc | RAIVVHEL | Consumer Defensive | €355.2M | 18.7 | 6.68% | -4.4% |
| 26 | Raisio plc | RAIKVHEL | Consumer Defensive | €352.8M | 18.6 | 6.67% | -5.4% |
| 27 | Byggmax Group AB (publ) | BMAXSTO | Consumer Cyclical | €346.0M | 14.4 | 2.53% | +40.5% |
| 28 | Axactor ASA | ACROSL | Financial Services | €318.1M | — | 0.00% | -39.0% |
| 29 | Bonava AB (publ) | BONAV-BSTO | Consumer Cyclical | €218.0M | — | 0.00% | -29.9% |
| 30 | Bonava AB (publ) | BONAV-ASTO | Consumer Cyclical | €216.6M | — | 0.00% | -32.3% |
The same rules on every market the screener covers: the US, Canada, Europe, Australia and more. Free, no account needed.
Run this screen on all 18,000+ stocksHow to use this screen
The score compares the last two fiscal years, so it can be up to a year old, and it says nothing about price beyond the book-value test. A high score in a cyclical business near the top of its cycle can be misleading.
This page lists the stocks that pass a set of rules. It is not a recommendation to buy or sell any of them, and past results of a strategy say nothing certain about future returns.