Earth Tech Environment PCLBKK:ETC-R 70 Piotroski F-Score is 6 as of Jun. 26, 2026, which is at its 10-year median of 6.00. GuruFocus rates BKK:ETC-R with a GF Score™ of 70/100 and a GF Value™ of ฿1.76. The stock has 4 warning signs investors should review. Among 420 Utilities - Independent Power Producers companies, Earth Tech Environment PCL ranks better than 80.95% 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
Earth Tech Environment 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 Earth Tech Environment PCL's Piotroski F-Score or its related term are showing as below:
BKK:ETC-R'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 6
During the past 8 years, the highest Piotroski F-Score of Earth Tech Environment PCL was 8. The lowest was 4. 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.
Earth Tech Environment PCL Piotroski F-Score Related Terms
Earth Tech Environment PCL Piotroski F-Score Historical Data
* 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.
For the Utilities - Renewable subindustry, Earth Tech Environment 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.
Earth Tech Environment PCL Piotroski F-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Earth Tech Environment PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Earth Tech Environment 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.
Earth Tech Environment PCL's current Net Income (TTM) was 504.3.
==> 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.
Earth Tech Environment PCL's current Cash Flow from Operations (TTM) was 207.3.
==> 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.
Earth Tech Environment PCL's return on assets of this year was 0.09784005. Earth Tech Environment PCL's return on assets of last year was 0.02481902.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Earth Tech Environment PCL's gearing of this year was 0.00348285. Earth Tech Environment PCL's gearing of last year was 0.25912798.
==> 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
Earth Tech Environment PCL's current ratio of this year was 6.14472224. Earth Tech Environment PCL's current ratio of last year was 2.93749297.
==> 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.
Earth Tech Environment PCL's number of shares in issue this year was 2240. Earth Tech Environment PCL's number of shares in issue last year was 2240.
==> 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.
Earth Tech Environment PCL's gross margin of this year was 0.35810001. Earth Tech Environment PCL's gross margin of last year was 0.38647521.
==> 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
Earth Tech Environment PCL's asset turnover of this year was 0.14300483. Earth Tech Environment PCL's asset turnover of last year was 0.15105107.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Earth Tech Environment PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Earth Tech Environment PCL (BKK:ETC-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 Earth Tech Environment PCL and its competitors. This is near median its historical median of 6.00. Over the past decade, Earth Tech Environment PCL's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Earth Tech Environment PCL ranks #80 out of 420 companies in the Utilities - Independent Power Producers industry, placing it in the top 19%.
Is Earth Tech Environment PCL's Piotroski F-Score too high?
Earth Tech Environment PCL's current Piotroski F-Score of 6 is near 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. Earth Tech Environment PCL's value of 6 is 20% above this industry median. Based on the distribution chart, Earth Tech Environment PCL ranks #80 out of 420 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Earth Tech Environment PCL has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does Earth Tech Environment PCL's Piotroski F-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Earth Tech Environment PCL ranks #80 out of 420 companies for Piotroski F-Score. This places Earth Tech Environment PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Earth Tech Environment PCL's value of 6 is 20% above this benchmark. Historically, Earth Tech Environment 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, Earth Tech Environment 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 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. Earth Tech Environment 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 Earth Tech Environment 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. Earth Tech Environment PCL's current Piotroski F-Score is 6, which is near 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 Earth Tech Environment PCL stock overvalued right now?
Earth Tech Environment PCL (BKK:ETC-R) has a current Piotroski F-Score of 6. The stock's GF Value™ is ฿1.76, compared to a current price of ฿0.68 — trading 61.6% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Utilities - Independent Power Producers industry median of 5.00. Earth Tech Environment PCL's overall GF Score™ is 70/100 with 4 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 Earth Tech Environment PCL (BKK:ETC-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 Earth Tech Environment PCL (BKK:ETC-R) Overvalued in 2026?
Based on GuruFocus' analysis, Earth Tech Environment PCL stock appears to be undervalued.
The current stock price of ฿0.68 is trading 61.6% below its estimated GF Value™ of ฿1.76.
Key valuation signals for BKK:ETC-R:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: ฿1.76 vs. price of ฿0.68 (61.6% below fair value)
Industry Position: 20% above the Utilities - Independent Power Producers median (#80 of 420)
No single metric tells the full story. See the BKK:ETC-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Earth Tech Environment PCL is a service provider for the production and distribution of electricity. It produces and distributes electricity from the first non-hazardous industrial materials in Thailand by using sewage or unused materials to process as fuel to produce electricity. It also provides an air quality control system, water management system, and community involvement. The company's segment includes Power business and Construction. It generates maximum revenue from the Power business segment.
70GF Score
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