Emc PCL (BKK:EMC) Piotroski F-Score: 5 (As of Jul. 09, 2026) — 67% Above Median


What is Emc PCL Piotroski F-Score?

Emc PCL BKK:EMC Piotroski F-Score is 5 as of Jul. 09, 2026, which is 67% above its 10-year median of 3.00. The stock has 4 warning signs investors should review. Among 1,731 Construction companies, Emc PCL ranks better than 52.63% 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

Emc 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 Emc PCL's Piotroski F-Score or its related term are showing as below:

BKK:EMC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 3   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Emc PCL was 8. The lowest was 1. And the median was 3.

Emc PCL  (BKK:EMC) 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.


Emc PCL Piotroski F-Score Related Terms


Emc PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Emc 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.

Emc PCL Piotroski F-Score Chart

Emc PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 2.00 3.00 5.00 3.00

Emc PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 5.00 5.00 4.00 3.00 5.00

BKK:EMC vs PWR, FIX, EME: Piotroski F-Score Comparison

For the Engineering & Construction subindustry, Emc 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.


Emc PCL Piotroski F-Score vs Construction Industry

For the Construction industry and Industrials sector, Emc PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Emc PCL's Piotroski F-Score falls into.


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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -34.585 + -118.318 + -73.501 + -32.949 = ฿-259.4 Mil.
Cash Flow from Operations was 114.709 + -13.63 + 156.973 + -48.731 = ฿209.3 Mil.
Revenue was 280.481 + 184.572 + 35.675 + 80.849 = ฿581.6 Mil.
Gross Profit was -9.097 + -68.843 + -8.964 + 7.137 = ฿-79.8 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2323.502 + 2040.603 + 1802.291 + 1461.784 + 1433.447) / 5 = ฿1812.3254 Mil.
Total Assets at the begining of this year (Mar25) was ฿2,323.5 Mil.
Long-Term Debt & Capital Lease Obligation was ฿13.4 Mil.
Total Current Assets was ฿579.2 Mil.
Total Current Liabilities was ฿617.8 Mil.
Net Income was 16.177 + -41.529 + -52.057 + -206.066 = ฿-283.5 Mil.

Revenue was 199.544 + 228.026 + 382.272 + 233.608 = ฿1,043.5 Mil.
Gross Profit was -1.466 + -7.779 + -18.509 + -169.431 = ฿-197.2 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(2250.026 + 2399.914 + 2447.803 + 2505.962 + 2323.502) / 5 = ฿2385.4414 Mil.
Total Assets at the begining of last year (Mar24) was ฿2,250.0 Mil.
Long-Term Debt & Capital Lease Obligation was ฿37.2 Mil.
Total Current Assets was ฿1,145.8 Mil.
Total Current Liabilities was ฿1,168.6 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.

Emc PCL's current Net Income (TTM) was -259.4. ==> 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.

Score 1 if positive, 0 if negative.

Emc PCL's current Cash Flow from Operations (TTM) was 209.3. ==> 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 (Mar25)
=-259.353/2323.502
=-0.1116216

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-283.475/2250.026
=-0.12598743

Emc PCL's return on assets of this year was -0.1116216. Emc PCL's return on assets of last year was -0.12598743. ==> This year is higher. ==> Score 1.

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.

Emc PCL's current Net Income (TTM) was -259.4. Emc PCL's current Cash Flow from Operations (TTM) was 209.3. ==> 209.3 > -259.4 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=13.385/1812.3254
=0.00738554

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=37.214/2385.4414
=0.01560047

Emc PCL's gearing of this year was 0.00738554. Emc PCL's gearing of last year was 0.01560047. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=579.209/617.766
=0.9375864

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=1145.816/1168.621
=0.98048555

Emc PCL's current ratio of this year was 0.9375864. Emc PCL's current ratio of last year was 0.98048555. ==> 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.

Emc PCL's number of shares in issue this year was 12672.692. Emc PCL's number of shares in issue last year was 12565. ==> 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
=-79.767/581.577
=-0.13715639

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-197.185/1043.45
=-0.18897408

Emc PCL's gross margin of this year was -0.13715639. Emc PCL's gross margin of last year was -0.18897408. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=581.577/2323.502
=0.25030191

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1043.45/2250.026
=0.4637502

Emc PCL's asset turnover of this year was 0.25030191. Emc PCL's asset turnover of last year was 0.4637502. ==> 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
=0+1+1+1+1+0+0+1+0
=5

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

Emc PCL has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
Emc PCL (BKK:EMC) has a Piotroski F-Score of 5 as of Jul. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Emc PCL and its competitors. This is 67% above median its historical median of 3.00. Over the past decade, Emc PCL's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Emc PCL ranks #820 out of 1731 companies in the Construction industry, placing it in the top 47.4%.
Is Emc PCL's Piotroski F-Score too high?
Emc PCL's current Piotroski F-Score of 5 is 67% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Emc PCL's value of 5 is 0% at this industry median. Based on the distribution chart, Emc PCL ranks #820 out of 1731 companies in the Construction industry, which is above the industry midpoint.
How does Emc PCL's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Emc PCL ranks #820 out of 1731 companies for Piotroski F-Score. This puts Emc PCL in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Emc PCL's value of 5 is 0% at this benchmark. Historically, Emc PCL's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Emc 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 a Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,731 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. Emc 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 Emc PCL 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. Emc PCL's current Piotroski F-Score is 5, which is 67% above median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emc PCL stock overvalued right now?
Based on GuruFocus' analysis, Emc PCL (BKK:EMC) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.06, compared to a current price of ฿0.02 — trading 66.7% below its estimated fair value. The current Piotroski F-Score is 5, which is 67% above median its 10-year median of 3.00 and 0% at the Construction industry median of 5.00. 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 Emc PCL (BKK:EMC), the current Piotroski F-Score is 5 as of Jul. 09, 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.

Emc PCL Business Description

Address Silom Road, 140/66-67, ITF Tower, 28th-30th Floor, Suriwongse, Bangrak, Bangkok, THA, 10500
Emc PCL is a fully integrated electrical and mechanical engineering company that consists of two business segments: Construction Contracting and Property Development. Its other operations include the design and installation of electrical systems, water supply systems, and sanitation systems, as well as providing architectural services. The company serves both government and private sector clients and operates in Thailand, where it derives a majority of its revenue from the Construction Contracting segment. The company undertakes various types of construction projects, including commercial buildings, residential buildings, educational institutions, industrial plants, and civil engineering works. EMC provides services from architectural design to complete building construction.