Asphere Innovations PCLBKK:AS 67 Piotroski F-Score is 7 as of Jun. 26, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates BKK:AS with a GF Score™ of 67/100 and a GF Value™ of ฿3.77 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 550 Interactive Media companies, Asphere Innovations PCL ranks better than 90.18% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Asphere Innovations PCL has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Asphere Innovations PCL's Piotroski F-Score or its related term are showing as below:
BKK:AS'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of Asphere Innovations PCL was 9. The lowest was 3. And the median was 6.
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.
Asphere Innovations PCL Piotroski F-Score Related Terms
Asphere Innovations PCL Piotroski F-Score Historical Data
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The historical data trend for Asphere Innovations PCL'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.
BKK:AS vs NTES, EA, TTWO: Piotroski F-Score Comparison
For the Electronic Gaming & Multimedia subindustry, Asphere Innovations PCL'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.
Asphere Innovations PCL Piotroski F-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Asphere Innovations PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Asphere Innovations PCL'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.
Asphere Innovations PCL's current Net Income (TTM) was 132.
==> 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.
Score 1 if positive, 0 if negative.
Asphere Innovations PCL's current Cash Flow from Operations (TTM) was 241.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Asphere Innovations PCL's return on assets of this year was 0.07588618. Asphere Innovations PCL's return on assets of last year was 0.09634623.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Asphere Innovations PCL's gearing of this year was 0.00159716. Asphere Innovations PCL's gearing of last year was 0.02196518.
==> This year is lower or equal to last year. ==> Score 1.
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
Asphere Innovations PCL's current ratio of this year was 2.01380863. Asphere Innovations PCL's current ratio of last year was 1.49342359.
==> 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.
Asphere Innovations PCL's number of shares in issue this year was 499.247. Asphere Innovations PCL's number of shares in issue last year was 499.247.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
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.
Asphere Innovations PCL's gross margin of this year was 0.42665604. Asphere Innovations PCL's gross margin of last year was 0.45988511.
==> 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
Asphere Innovations PCL's asset turnover of this year was 0.73261094. Asphere Innovations PCL's asset turnover of last year was 0.64214338.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Asphere Innovations PCL has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Asphere Innovations PCL (BKK:AS) has a Piotroski F-Score of 7 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Asphere Innovations PCL and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Asphere Innovations PCL's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Asphere Innovations PCL ranks #54 out of 550 companies in the Interactive Media industry, placing it in the top 9.8%.
Is Asphere Innovations PCL's Piotroski F-Score too high?
Asphere Innovations PCL's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Interactive Media industry median Piotroski F-Score is 5.00. Asphere Innovations PCL's value of 7 is 40% above this industry median. Based on the distribution chart, Asphere Innovations PCL ranks #54 out of 550 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, Asphere Innovations PCL has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Asphere Innovations PCL's Piotroski F-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Asphere Innovations PCL ranks #54 out of 550 companies for Piotroski F-Score. This places Asphere Innovations PCL in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Asphere Innovations PCL's value of 7 is 40% above this benchmark. Historically, Asphere Innovations PCL's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Asphere Innovations PCL has consistently been above 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 an Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 550 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. Asphere Innovations PCL's current Piotroski F-Score of 7 is 40% above 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 Asphere Innovations PCL and its competitors. For the Interactive Media 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. Asphere Innovations PCL's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asphere Innovations PCL stock overvalued right now?
Based on GuruFocus' analysis, Asphere Innovations PCL (BKK:AS) is currently considered Possible Value Trap. The stock's GF Value™ is ฿3.77, compared to a current price of ฿2.28 — trading 39.5% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Interactive Media industry median of 5.00. Asphere Innovations PCL's overall GF Score™ is 67/100 with 5 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 Asphere Innovations PCL (BKK:AS), the current Piotroski F-Score is 7 as of Jun. 26, 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 Asphere Innovations PCL (BKK:AS) Overvalued in 2026?
Based on GuruFocus' analysis, Asphere Innovations PCL stock appears to be undervalued.
The current stock price of ฿2.28 is trading 39.5% below its estimated GF Value™ of ฿3.77.
GuruFocus considers Asphere Innovations PCL to be Possible Value Trap.
Key valuation signals for BKK:AS:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: ฿3.77 vs. price of ฿2.28 (39.5% below fair value)
Industry Position: 40% above the Interactive Media median (#54 of 550)
No single metric tells the full story. See the BKK:AS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asphere Innovations PCL is engaged in providing online game services. The Company operates in two segments: the publishing online game segment, which contributes the majority of the revenue and provides online game publishing services through the internet based on agreements between the publisher and game developers; and the distribution segment, which provides payment channel services. Other income mainly comprises revenue from the provision of marketing services. The Company offers a collection of games across PC and mobile platforms, covering genres such as MMORPG, Casual, SRPG, FPS, and MOBA. It operates in Thailand, Singapore, Vietnam, and other countries, with Singapore contributing the majority of the revenue.
67GF Score
Get the complete analysis for BKK:AS
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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