MAAS Group HoldingsASX:MGH -0.38%64 Piotroski F-Score is 4 as of Jun. 25, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates ASX:MGH with a GF Score™ of 64/100 and a GF Value™ of A$5.61 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,734 Construction companies, MAAS Group Holdings ranks worse than 65.51% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
MAAS Group Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for MAAS Group Holdings's Piotroski F-Score or its related term are showing as below:
ASX:MGH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 5
Current: 4
During the past 6 years, the highest Piotroski F-Score of MAAS Group Holdings was 5. The lowest was 3. And the median was 5.
MAAS Group Holdings (ASX:MGH) 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.
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.
MAAS Group Holdings Piotroski F-Score Related Terms
MAAS Group Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for MAAS Group Holdings's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:MGH vs PWR, FIX, EME: Piotroski F-Score Comparison
For the Engineering & Construction subindustry, MAAS Group Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
MAAS Group Holdings Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, MAAS Group Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where MAAS Group Holdings's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
MAAS Group Holdings's current Net Income (TTM) was 72.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
MAAS Group Holdings's return on assets of this year was 0.04527641. MAAS Group Holdings's return on assets of last year was 0.05053042.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
MAAS Group Holdings's gearing of this year was 0.40116318. MAAS Group Holdings's gearing of last year was 0.36339474.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
MAAS Group Holdings's current ratio of this year was 1.74609849. MAAS Group Holdings's current ratio of last year was 1.47971569.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
MAAS Group Holdings's number of shares in issue this year was 349.335. MAAS Group Holdings's number of shares in issue last year was 331.627.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
MAAS Group Holdings's gross margin of this year was 0.52212913. MAAS Group Holdings's gross margin of last year was 0.54171271.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
MAAS Group Holdings's asset turnover of this year was 0.64837818. MAAS Group Holdings's asset turnover of last year was 0.61991712.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
0
+
0
+
1
+
0
+
0
+
1
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
MAAS Group Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.
MAAS Group Holdings (ASX:MGH) has a Piotroski F-Score of 4 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on MAAS Group Holdings and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, MAAS Group Holdings' Piotroski F-Score has ranged from 3.00 to 5.00. According to the industry distribution chart, MAAS Group Holdings ranks #1136 out of 1734 companies in the Construction industry, placing it in the top 65.5%.
Is MAAS Group Holdings' Piotroski F-Score too high?
MAAS Group Holdings' current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 5.00. The Construction industry median Piotroski F-Score is 5.00. MAAS Group Holdings' value of 4 is 20% below this industry median. Based on the distribution chart, MAAS Group Holdings ranks #1136 out of 1734 companies in the Construction industry, which is below the industry midpoint. Overall, MAAS Group Holdings has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MAAS Group Holdings' Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, MAAS Group Holdings ranks #1136 out of 1734 companies for Piotroski F-Score. This places MAAS Group Holdings in the lower half of its industry. The industry median Piotroski F-Score is 5.00. MAAS Group Holdings' value of 4 is 20% below this benchmark. Historically, MAAS Group Holdings' own Piotroski F-Score has ranged from 3.00 to 5.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, MAAS Group Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,734 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MAAS Group Holdings's current Piotroski F-Score of 4 is 20% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on MAAS Group Holdings and its competitors. For the Construction industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MAAS Group Holdings's current Piotroski F-Score is 4, which is 20% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MAAS Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, MAAS Group Holdings (ASX:MGH) is currently considered Fairly Valued. The stock's GF Value™ is A$5.61, compared to a current price of A$5.29 — trading 5.7% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Construction industry median of 5.00. MAAS Group Holdings' overall GF Score™ is 64/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For MAAS Group Holdings (ASX:MGH), the current Piotroski F-Score is 4 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MAAS Group Holdings (ASX:MGH) Overvalued in 2026?
Based on GuruFocus' analysis, MAAS Group Holdings stock appears to be undervalued.
The current stock price of A$5.29 is trading 5.7% below its estimated GF Value™ of A$5.61.
GuruFocus considers MAAS Group Holdings to be Fairly Valued.
Key valuation signals for ASX:MGH:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: A$5.61 vs. price of A$5.29 (5.7% below fair value)
Industry Position: 20% below the Construction median (#1136 of 1734)
No single metric tells the full story. See the ASX:MGH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MAAS Group Holdings Ltd is an industrial service and real estate business with exposure across the property, civil, infrastructure, renewable energy, and mining sectors. The company's operating segments include Construction Materials; Residential Real Estate; Civil, Construction and Hire; Commercial Real Estate; Manufacturing; and Others. It generates maximum revenue from the Construction Materials segment which provides various services like supply of quarry materials to construction projects, mobile crushing and screening for quarries, civil works and mining, geotechnical services, asphalt services, and quarry excavation services. Geographically, the company's customers are located across Australia, Vietnam, Indonesia, Mongolia, Papua New Guinea, and New Zealand.
64GF Score
Get the complete analysis for ASX:MGH
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:MGH has been successfully added to your 
