Healthlead PCLBKK:HL +1.82%76 Piotroski F-Score is 6 as of Jun. 29, 2026, which is at its 10-year median of 6.00. GuruFocus rates BKK:HL with a GF Score™ of 76/100 and a GF Value™ of ฿10.82 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 650 Healthcare Providers & Services companies, Healthlead PCL ranks better than 74.62% 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
Healthlead 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 Healthlead PCL's Piotroski F-Score or its related term are showing as below:
BKK:HL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 6
During the past 7 years, the highest Piotroski F-Score of Healthlead PCL was 8. The lowest was 3. 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.
Healthlead PCL Piotroski F-Score Related Terms
Healthlead PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Healthlead 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.
For the Pharmaceutical Retailers subindustry, Healthlead 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.
Healthlead PCL Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Healthlead PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Healthlead 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.
Healthlead PCL's current Net Income (TTM) was 76.
==> 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.
Healthlead PCL's return on assets of this year was 0.04893925. Healthlead PCL's return on assets of last year was 0.05596626.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Healthlead PCL's gearing of this year was 0.17989077. Healthlead PCL's gearing of last year was 0.17613886.
==> 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
Healthlead PCL's current ratio of this year was 3.03440937. Healthlead PCL's current ratio of last year was 3.7577973.
==> 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.
Healthlead PCL's number of shares in issue this year was 259.15. Healthlead PCL's number of shares in issue last year was 272.
==> 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.
Healthlead PCL's gross margin of this year was 0.24483632. Healthlead PCL's gross margin of last year was 0.23825003.
==> 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
Healthlead PCL's asset turnover of this year was 1.44619956. Healthlead PCL's asset turnover of last year was 1.44159427.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Healthlead PCL has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Healthlead PCL (BKK:HL) has a Piotroski F-Score of 6 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Healthlead PCL and its competitors. This is near median its historical median of 6.00. Over the past decade, Healthlead PCL's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Healthlead PCL ranks #165 out of 650 companies in the Healthcare Providers & Services industry, placing it in the top 25.4%.
Is Healthlead PCL's Piotroski F-Score too high?
Healthlead 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 3.00 to a high of 8.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Healthlead PCL's value of 6 is 20% above this industry median. Based on the distribution chart, Healthlead PCL ranks #165 out of 650 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Healthlead PCL has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Healthlead PCL's Piotroski F-Score compare to competitors?
According to the Healthcare Providers & Services industry distribution chart, Healthlead PCL ranks #165 out of 650 companies for Piotroski F-Score. This puts Healthlead PCL in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Healthlead PCL's value of 6 is 20% above this benchmark. Historically, Healthlead PCL's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Healthlead 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 Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 650 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. Healthlead 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 Healthlead PCL and its competitors. For the Healthcare Providers & 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. Healthlead 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 Healthlead PCL stock overvalued right now?
Based on GuruFocus' analysis, Healthlead PCL (BKK:HL) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿10.82, compared to a current price of ฿5.60 — trading 48.2% 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 Healthcare Providers & Services industry median of 5.00. Healthlead PCL's overall GF Score™ is 76/100 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 Healthlead PCL (BKK:HL), the current Piotroski F-Score is 6 as of Jun. 29, 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 Healthlead PCL (BKK:HL) Overvalued in 2026?
Based on GuruFocus' analysis, Healthlead PCL stock appears to be undervalued.
The current stock price of ฿5.60 is trading 48.2% below its estimated GF Value™ of ฿10.82.
GuruFocus considers Healthlead PCL to be Significantly Undervalued.
Key valuation signals for BKK:HL:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: ฿10.82 vs. price of ฿5.60 (48.2% below fair value)
Industry Position: 20% above the Healthcare Providers & Services median (#165 of 650)
No single metric tells the full story. See the BKK:HL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Healthlead PCL is a holding company. Along with its subsidiaries, it operates a pharmacy business under iCare, Pharmax, vitaminclub, and Super Drug brands, distributing medicines, medical supplies, cosmeceuticals, dietary supplements, medical devices, and other healthcare products. Additionally, it is involved in co-inventing and co-developing healthcare products in collaboration with external research teams and contract manufacturers, producing and distributing its own branded products. Geographically, the group operates only in Thailand.
76GF Score
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