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Chow Bright Ventures Holdings PCL (BKK:CHOW-R) Piotroski F-Score : 4 (As of Jul. 19, 2025)


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What is Chow Bright Ventures Holdings PCL Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Chow Bright Ventures Holdings PCL 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 Chow Bright Ventures Holdings PCL's Piotroski F-Score or its related term are showing as below:

BKK:CHOW-R' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Chow Bright Ventures Holdings PCL was 8. The lowest was 1. And the median was 5.


Chow Bright Ventures Holdings PCL Piotroski F-Score Historical Data

The historical data trend for Chow Bright Ventures Holdings 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.

* Premium members only.

Chow Bright Ventures Holdings PCL Piotroski F-Score Chart

Chow Bright Ventures Holdings PCL Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 5.00 4.00 6.00

Chow Bright Ventures Holdings PCL Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 6.00 6.00 4.00

Competitive Comparison of Chow Bright Ventures Holdings PCL's Piotroski F-Score

For the Steel subindustry, Chow Bright Ventures Holdings 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.


Chow Bright Ventures Holdings PCL's Piotroski F-Score Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Chow Bright Ventures Holdings PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Chow Bright Ventures Holdings PCL's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 35.608 + 6.348 + 25.608 + 3.312 = ฿71 Mil.
Cash Flow from Operations was 75.965 + 131.392 + 97.132 + 3.169 = ฿308 Mil.
Revenue was 1039.756 + 495.355 + 712.196 + 613.789 = ฿2,861 Mil.
Gross Profit was 36.932 + 24.339 + 67.207 + 29.356 = ฿158 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(3809.899 + 3779.986 + 3626.229 + 3578.888 + 3440.399) / 5 = ฿3647.0802 Mil.
Total Assets at the begining of this year (Mar24) was ฿3,810 Mil.
Long-Term Debt & Capital Lease Obligation was ฿6 Mil.
Total Current Assets was ฿1,317 Mil.
Total Current Liabilities was ฿989 Mil.
Net Income was -10.218 + 307.361 + 115.966 + 80.304 = ฿493 Mil.

Revenue was 840.315 + 1123.734 + 938.566 + 1274.785 = ฿4,177 Mil.
Gross Profit was 46.62 + 48.565 + 112.469 + 40.907 = ฿249 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(4727.353 + 4755.883 + 3161.408 + 3382.839 + 3809.899) / 5 = ฿3967.4764 Mil.
Total Assets at the begining of last year (Mar23) was ฿4,727 Mil.
Long-Term Debt & Capital Lease Obligation was ฿4 Mil.
Total Current Assets was ฿1,799 Mil.
Total Current Liabilities was ฿1,397 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.

Chow Bright Ventures Holdings PCL's current Net Income (TTM) was 71. ==> 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.

Chow Bright Ventures Holdings PCL's current Cash Flow from Operations (TTM) was 308. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=70.876/3809.899
=0.01860312

ROA (Last Year)=Net Income/Total Assets (Mar23)
=493.413/4727.353
=0.10437405

Chow Bright Ventures Holdings PCL's return on assets of this year was 0.01860312. Chow Bright Ventures Holdings PCL's return on assets of last year was 0.10437405. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Chow Bright Ventures Holdings PCL's current Net Income (TTM) was 71. Chow Bright Ventures Holdings PCL's current Cash Flow from Operations (TTM) was 308. ==> 308 > 71 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=5.648/3647.0802
=0.00154864

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=3.575/3967.4764
=0.00090108

Chow Bright Ventures Holdings PCL's gearing of this year was 0.00154864. Chow Bright Ventures Holdings PCL's gearing of last year was 0.00090108. ==> 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

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=1316.833/988.965
=1.33152639

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=1799.115/1396.653
=1.28816177

Chow Bright Ventures Holdings PCL's current ratio of this year was 1.33152639. Chow Bright Ventures Holdings PCL's current ratio of last year was 1.28816177. ==> 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.

Chow Bright Ventures Holdings PCL's number of shares in issue this year was 828. Chow Bright Ventures Holdings PCL's number of shares in issue last year was 803.04. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=157.834/2861.096
=0.05516557

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=248.561/4177.4
=0.05950136

Chow Bright Ventures Holdings PCL's gross margin of this year was 0.05516557. Chow Bright Ventures Holdings PCL's gross margin of last year was 0.05950136. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=2861.096/3809.899
=0.75096374

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=4177.4/4727.353
=0.88366576

Chow Bright Ventures Holdings PCL's asset turnover of this year was 0.75096374. Chow Bright Ventures Holdings PCL's asset turnover of last year was 0.88366576. ==> Last year's asset turnover is higher ==> Score 0.

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+1+0+1+0+0+0
=4

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Chow Bright Ventures Holdings PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Chow Bright Ventures Holdings PCL  (BKK:CHOW-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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Chow Bright Ventures Holdings PCL Piotroski F-Score Related Terms

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Chow Bright Ventures Holdings PCL Business Description

Traded in Other Exchanges
Address
2525 FYI Center, Rama 4 Road, Tower 2, 10th Floor, Unit 2/1007-1008, Khlongtoei Sub-district, Khlongtoei District, Bangkok, THA, 10110
Chow Bright Ventures Holdings PCL Formerly Chow Steel Industries PCL is engaged in the business of manufacturing and distribution of steel billet and renewable energy. Its products are used for the production of round bars, deformed bars, and wire rods. Geographically all the business activity functions through Thailand. The business activity of the company is operated through five segments which are Original Equipment Manufacturer (OEM) business, Trading of steel billets business, Investment in renewable power plant business, Consultancy on investments related to the renewable energy business, Cryptocurrency business and Other businesses. The company offers its products to both Thailand and overseas markets.

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