How Pythia scores
The legacy v2 scores, and why they are still here
The Composite plus Quality, Value, Growth and Safety card is the original v2 pipeline. It is kept as a sanity check while PAS carries the headline, and this explains what it does differently.
What this card is
The Proprietary Scores card on a company page shows a Composite plus four components — Quality, Value, Growth and Safety, each 0 to 100. It is the original v2 scoring pipeline, and it predates PAS.
Both use the same bands: 80-100 excellent, 60-79 good, 40-59 fair, 0-39 weak.
How it differs from PAS
The important difference is not the pillar names, it is the comparison.
PAS z-scores every input within its GICS sector and country before scoring. The v2 composite does not work that way, which means its numbers carry sector effects: capital-intensive industries score differently from asset-light ones for reasons that are about the industry rather than the company.
That is why PAS carries the headline. A score that ranks sectors when you asked it to rank companies is answering a different question than the one on screen.
Why it has not been deleted
Two honest reasons.
The first is continuity: people who have used these numbers for a while have a feel for them, and swapping the meaning of a familiar 0-100 figure overnight is its own kind of dishonesty.
The second is that the four component names are genuinely useful shorthand. "Quality 82, Value 31" describes a company in five words in a way the sector-neutral pillars, which are more correct, do not quite manage at a glance.
Treat the v2 card as a rough second opinion. When it and PAS disagree sharply, the usual explanation is sector: the v2 number is being pulled by something the sector-neutral score has deliberately removed.
Sources
- Piotroski (2000), Value Investing: The Use of Historical Financial Statement Information (opens in a new tab) — The fundamental-strength tests behind the legacy Quality and Safety components.
- Fama & French (1992), The Cross-Section of Expected Stock Returns (opens in a new tab) — The value and size characteristics the v2 Value component leans on.
Further reading
- Fundamental analysis (opens in a new tab) — Reading financial statements to judge business quality.
- Financial ratios (opens in a new tab) — How ratio groups like profitability and leverage are used together.