Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Glory Forever PCLBKK:GLORY -3.53%87 Piotroski F-Score is 4 as of Sep. 10, 2026, which is at its 10-year median of 4.00. GuruFocus rates BKK:GLORY with a GF Score™ of 87/100 and a GF Value™ of ฿1.07 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 539 Conglomerates companies, Glory Forever PCL ranks worse than 71.99% 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
Glory Forever 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 Glory Forever PCL's Piotroski F-Score or its related term are showing as below:
BKK:GLORY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 4
During the past 7 years, the highest Piotroski F-Score of Glory Forever PCL was 6. The lowest was 2. And the median was 4.
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.
Glory Forever PCL Piotroski F-Score Related Terms
Glory Forever PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Glory Forever 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:GLORY vs MMM, HON: Piotroski F-Score Comparison
For the Conglomerates subindustry, Glory Forever 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.
Glory Forever PCL Piotroski F-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Glory Forever PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Glory Forever 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.
Glory Forever PCL's current Net Income (TTM) was -30.4.
==> 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.
Glory Forever PCL's return on assets of this year was -0.13033211. Glory Forever PCL's return on assets of last year was -0.22492751.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Glory Forever PCL's gearing of this year was 0.00296003. Glory Forever PCL's gearing of last year was 0.
==> 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
Glory Forever PCL's current ratio of this year was 3.98170878. Glory Forever PCL's current ratio of last year was 3.54861925.
==> 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.
Glory Forever PCL's number of shares in issue this year was 296.864. Glory Forever PCL's number of shares in issue last year was 270.483.
==> 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.
Glory Forever PCL's gross margin of this year was 0.26017504. Glory Forever PCL's gross margin of last year was 0.27454074.
==> 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
Glory Forever PCL's asset turnover of this year was 0.49402546. Glory Forever PCL's asset turnover of last year was 0.5002086.
==> 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
+
0
+
1
+
0
+
0
+
0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Glory Forever PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Glory Forever PCL (BKK:GLORY) has a Piotroski F-Score of 4 as of Sep. 10, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Glory Forever PCL and its competitors. This is near median its historical median of 4.00. Over the past decade, Glory Forever PCL's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Glory Forever PCL ranks #388 out of 539 companies in the Conglomerates industry, placing it in the top 72%.
Is Glory Forever PCL's Piotroski F-Score too high?
Glory Forever PCL's current Piotroski F-Score of 4 is near 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 Conglomerates industry median Piotroski F-Score is 6.00. Glory Forever PCL's value of 4 is 33.3% below this industry median. Based on the distribution chart, Glory Forever PCL ranks #388 out of 539 companies in the Conglomerates industry, which is below the industry midpoint. Overall, Glory Forever PCL has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Glory Forever PCL's Piotroski F-Score compare to MMM and HON?
According to the Conglomerates industry distribution chart, Glory Forever PCL ranks #388 out of 539 companies for Piotroski F-Score. This places Glory Forever PCL in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Glory Forever PCL's value of 4 is 33.3% below this benchmark. Historically, Glory Forever 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 6.00, Glory Forever PCL has consistently been below 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 Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 6.00, based on 539 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. Glory Forever PCL's current Piotroski F-Score of 4 is 33.3% below 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 Glory Forever PCL and its competitors. For the Conglomerates industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Glory Forever PCL's current Piotroski F-Score is 4, which is near 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 Glory Forever PCL stock overvalued right now?
Based on GuruFocus' analysis, Glory Forever PCL (BKK:GLORY) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿1.07, compared to a current price of ฿0.82 — trading 23.4% below its estimated fair value. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 33.3% below the Conglomerates industry median of 6.00. Glory Forever PCL's overall GF Score™ is 87/100 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 Glory Forever PCL (BKK:GLORY), the current Piotroski F-Score is 4 as of Sep. 10, 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 Glory Forever PCL (BKK:GLORY) Overvalued in 2026?
Based on GuruFocus' analysis, Glory Forever PCL stock appears to be undervalued.
The current stock price of ฿0.82 is trading 23.4% below its estimated GF Value™ of ฿1.07.
GuruFocus considers Glory Forever PCL to be Modestly Undervalued.
Key valuation signals for BKK:GLORY:
Piotroski F-Score: 4 (near median its 10-year median of 4.00)
GF Value™: ฿1.07 vs. price of ฿0.82 (23.4% below fair value)
Industry Position: 33.3% below the Conglomerates median (#388 of 539)
No single metric tells the full story. See the BKK:GLORY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Glory Forever PCL is engaged in e-commerce, i.e., trading of products and services conducted over the internet, and providing services related to residential projects. The Group is organized into business units based on its products and services and has three reportable segments, namely the E-commerce segment, Residential segment, and Other segment. Maximum revenue is generated from the E-commerce segment, which includes sales and services via electronic media through the internet network, consisting of services relating to the online novel platform, Alisa, and Vtuber. The Residential segment offers residential services consisting of management services for residential projects, as well as contracting works. Geographically, the Group operates in Thailand only.
87GF Score
Get the complete analysis for BKK:GLORY
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:GLORY has been successfully added to your 
