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B.Grimm Power PCLBKK:BGRIM -2.54%83 Piotroski F-Score is 5 as of Jul. 23, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates BKK:BGRIM with a GF Score™ of 83/100 and a GF Value™ of ฿20.65 (Fairly Valued). The stock has 12 warning signs investors should review. Among 420 Utilities - Independent Power Producers companies, B.Grimm Power PCL ranks better than 61.43% 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
B.Grimm Power PCL has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for B.Grimm Power PCL's Piotroski F-Score or its related term are showing as below:
BKK:BGRIM'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 5
During the past 13 years, the highest Piotroski F-Score of B.Grimm Power PCL was 8. The lowest was 4. And the median was 6.
B.Grimm Power PCL (BKK:BGRIM) 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.
B.Grimm Power PCL Piotroski F-Score Related Terms
B.Grimm Power PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for B.Grimm Power 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:BGRIM vs CEG, VST, NRG: Piotroski F-Score Comparison
For the Utilities - Independent Power Producers subindustry, B.Grimm Power 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.
B.Grimm Power PCL Piotroski F-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, B.Grimm Power PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where B.Grimm Power 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 6.846 + 520.997 + 493.71 + 721.178 = ฿1,743 Mil. Cash Flow from Operations was 3679.6 + 4617.066 + 3426.083 + 2154.766 = ฿13,878 Mil. Revenue was 15068.044 + 13351.28 + 13262.812 + 12725.665 = ฿54,408 Mil. Gross Profit was 2388.238 + 2578.251 + 2797.985 + 2636.649 = ฿10,401 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(183515.29 + 180501.482 + 180771.952 + 183046.037 + 189541.068) / 5 = ฿183475.1658 Mil. Total Assets at the begining of this year (Mar25) was ฿183,515 Mil. Long-Term Debt & Capital Lease Obligation was ฿107,463 Mil. Total Current Assets was ฿38,275 Mil. Total Current Liabilities was ฿27,898 Mil.
Net Income was 228.517 + 162.749 + 786.954 + 653.934 = ฿1,832 Mil.
Revenue was 13650.882 + 14679.222 + 13358.252 + 13705.387 = ฿55,394 Mil. Gross Profit was 2731.329 + 2809.956 + 2512.585 + 2495.036 = ฿10,549 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(180965.545 + 179016.42 + 175420.061 + 180900.72 + 183515.29) / 5 = ฿179963.6072 Mil. Total Assets at the begining of last year (Mar24) was ฿180,966 Mil. Long-Term Debt & Capital Lease Obligation was ฿94,102 Mil. Total Current Assets was ฿48,165 Mil. Total Current Liabilities was ฿34,332 Mil.
*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.
B.Grimm Power PCL's current Net Income (TTM) was 1,743.
==> 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.
B.Grimm Power PCL's return on assets of this year was 0.00949638. B.Grimm Power PCL's return on assets of last year was 0.01012433.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
B.Grimm Power PCL's gearing of this year was 0.58570668. B.Grimm Power PCL's gearing of last year was 0.52289261.
==> 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
B.Grimm Power PCL's current ratio of this year was 1.37193176. B.Grimm Power PCL's current ratio of last year was 1.40291779.
==> Last year's current ratio is higher ==> Score 0.
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.
B.Grimm Power PCL's number of shares in issue this year was 2606.9. B.Grimm Power PCL's number of shares in issue last year was 2606.9.
==> 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.
B.Grimm Power PCL's gross margin of this year was 0.1911697. B.Grimm Power PCL's gross margin of last year was 0.19043497.
==> This year's gross margin is higher. ==> Score 1.
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
B.Grimm Power PCL's asset turnover of this year was 0.29647557. B.Grimm Power PCL's asset turnover of last year was 0.30610105.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
B.Grimm Power PCL has an F-score of 5 indicating the company's financial situation is typical for a stable company.
B.Grimm Power PCL (BKK:BGRIM) has a Piotroski F-Score of 5 as of Jul. 23, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on B.Grimm Power PCL and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, B.Grimm Power PCL's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, B.Grimm Power PCL ranks #162 out of 420 companies in the Utilities - Independent Power Producers industry, placing it in the top 38.6%.
Is B.Grimm Power PCL's Piotroski F-Score too high?
B.Grimm Power PCL's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. B.Grimm Power PCL's value of 5 is 0% at this industry median. Based on the distribution chart, B.Grimm Power PCL ranks #162 out of 420 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, B.Grimm Power PCL has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does B.Grimm Power PCL's Piotroski F-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, B.Grimm Power PCL ranks #162 out of 420 companies for Piotroski F-Score. This puts B.Grimm Power PCL in the upper half of its industry. The industry median Piotroski F-Score is 5.00. B.Grimm Power PCL's value of 5 is 0% at this benchmark. Historically, B.Grimm Power PCL's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, B.Grimm Power PCL has consistently been at 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 Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 420 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. B.Grimm Power PCL's current Piotroski F-Score of 5 is 0% at 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 B.Grimm Power PCL and its competitors. For the Utilities - Independent Power Producers 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. B.Grimm Power PCL's current Piotroski F-Score is 5, which is 17% below 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 B.Grimm Power PCL stock overvalued right now?
Based on GuruFocus' analysis, B.Grimm Power PCL (BKK:BGRIM) is currently considered Fairly Valued. The stock's GF Value™ is ฿20.65, compared to a current price of ฿19.20 — trading 7% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Utilities - Independent Power Producers industry median of 5.00. B.Grimm Power PCL's overall GF Score™ is 83/100 with 12 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 B.Grimm Power PCL (BKK:BGRIM), the current Piotroski F-Score is 5 as of Jul. 23, 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 B.Grimm Power PCL (BKK:BGRIM) Overvalued in 2026?
Based on GuruFocus' analysis, B.Grimm Power PCL stock appears to be undervalued.
The current stock price of ฿19.20 is trading 7% below its estimated GF Value™ of ฿20.65.
GuruFocus considers B.Grimm Power PCL to be Fairly Valued.
Key valuation signals for BKK:BGRIM:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: ฿20.65 vs. price of ฿19.20 (7% below fair value)
Industry Position: 0% at the Utilities - Independent Power Producers median (#162 of 420)
No single metric tells the full story. See the BKK:BGRIM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
B.Grimm Power PCL, along with its subsidiaries, is engaged in the generation and distribution of electricity for the government sectors and Industrial Users, both in Thailand and overseas. The company operates through two reportable segments: 1) Electricity generating: This segment is the generation and distribution of electricity for the government sectors and industrial users both in Thailand and overseas and procure and wholesale liquefied natural gas to the entities in the Group. 2) Other businesses: This segment is the business of investment holding, maintenance, and operating services forpower plants. The majority of the company's revenue comes from Electricity generating segment. Geographically, it derives the maximum revenue from Thailand.
83GF Score
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