Chayo Group PCLBKK:CHAYO-R 68 Piotroski F-Score is 6 as of Jun. 26, 2026, which is 50% above its 10-year median of 4.00. GuruFocus rates BKK:CHAYO-R with a GF Score™ of 68/100 and a GF Value™ of ฿2.56. The stock has 3 warning signs investors should review. Among 532 Credit Services companies, Chayo Group PCL ranks better than 80.83% 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
Chayo Group PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Chayo Group PCL's Piotroski F-Score or its related term are showing as below:
BKK:CHAYO-R'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 6
During the past 11 years, the highest Piotroski F-Score of Chayo Group PCL was 6. The lowest was 2. And the median was 4.
Chayo Group PCL (BKK:CHAYO-R) 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.
Chayo Group PCL Piotroski F-Score Related Terms
Chayo Group PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Chayo Group 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:CHAYO-R vs V, MA, AXP: Piotroski F-Score Comparison
For the Credit Services subindustry, Chayo Group 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.
Chayo Group PCL Piotroski F-Score vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Chayo Group PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Chayo Group 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.
Chayo Group PCL's current Net Income (TTM) was -521.
==> Negative ==> Score 0.
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.
Chayo Group PCL's return on assets of this year was -0.05351828. Chayo Group PCL's return on assets of last year was 0.03222052.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Chayo Group PCL's gearing of this year was 0.3814126. Chayo Group PCL's gearing of last year was 0.15547758.
==> 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
Chayo Group PCL's current ratio of this year was 1.80970299. Chayo Group PCL's current ratio of last year was 1.07800497.
==> 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.
Chayo Group PCL's number of shares in issue this year was 1165.613. Chayo Group PCL's number of shares in issue last year was 1165.62.
==> 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.
Chayo Group PCL's gross margin of this year was 0.89462649. Chayo Group PCL's gross margin of last year was 0.83096409.
==> 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
Chayo Group PCL's asset turnover of this year was 0.21423741. Chayo Group PCL's asset turnover of last year was 0.21086829.
==> 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
=
0
+
1
+
0
+
1
+
0
+
1
+
1
+
1
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Chayo Group PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Chayo Group PCL (BKK:CHAYO-R) has a Piotroski F-Score of 6 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Chayo Group PCL and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, Chayo Group PCL's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Chayo Group PCL ranks #102 out of 532 companies in the Credit Services industry, placing it in the top 19.2%.
Is Chayo Group PCL's Piotroski F-Score too high?
Chayo Group PCL's current Piotroski F-Score of 6 is 50% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 6.00. The Credit Services industry median Piotroski F-Score is 5.00. Chayo Group PCL's value of 6 is 20% above this industry median. Based on the distribution chart, Chayo Group PCL ranks #102 out of 532 companies in the Credit Services industry, which is in the top quartile — a strong position relative to peers. Overall, Chayo Group PCL has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Chayo Group PCL's Piotroski F-Score compare to V and MA?
According to the Credit Services industry distribution chart, Chayo Group PCL ranks #102 out of 532 companies for Piotroski F-Score. This places Chayo Group PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Chayo Group PCL's value of 6 is 20% above this benchmark. Historically, Chayo Group PCL's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Chayo Group 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 a Credit Services company?
The median Piotroski F-Score among Credit Services companies is 5.00, based on 532 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. Chayo Group PCL's current Piotroski F-Score of 6 is 20% 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 Chayo Group PCL and its competitors. For the Credit Services 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. Chayo Group PCL's current Piotroski F-Score is 6, which is 50% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chayo Group PCL stock overvalued right now?
Chayo Group PCL (BKK:CHAYO-R) has a current Piotroski F-Score of 6. The stock's GF Value™ is ฿2.56, compared to a current price of ฿1.00 — trading 60.9% below its estimated fair value. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Credit Services industry median of 5.00. Chayo Group PCL's overall GF Score™ is 68/100 with 3 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 Chayo Group PCL (BKK:CHAYO-R), the current Piotroski F-Score is 6 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 Chayo Group PCL (BKK:CHAYO-R) Overvalued in 2026?
Based on GuruFocus' analysis, Chayo Group PCL stock appears to be undervalued.
The current stock price of ฿1.00 is trading 60.9% below its estimated GF Value™ of ฿2.56.
Key valuation signals for BKK:CHAYO-R:
Piotroski F-Score: 6 (50% above median its 10-year median of 4.00)
GF Value™: ฿2.56 vs. price of ฿1.00 (60.9% below fair value)
Industry Position: 20% above the Credit Services median (#102 of 532)
No single metric tells the full story. See the BKK:CHAYO-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chayo Group PCL is a Thailand-based company engaged in the provision of tracking and solicitation services for bad debts such as credit card debt. Its principal objective is to provide services relating to debt collection, managing non-performing assets from purchases, transferring secured and non-secured non-performing assets from financial institutions and credit facility companies, and providing call center services. The firm operates in the segments of Debt collection service, Management of non-performing assets, loans, recruitment services, of which the Management of non-performing asset segment accounts for the majority of revenue.
68GF Score
Get the complete analysis for BKK:CHAYO-R
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
BKK:CHAYO-R has been successfully added to your 
