I2 Enterprise PCL (BKK:I2) Piotroski F-Score: 5 (As of Jun. 28, 2026) — 25% Above Median


BKK:I2 I2 Enterprise PCL BKK:I2
11 GF Score
Price ฿0.79
GF Value ฿0.86
Valuation Fairly Valued
! 6 Warning Signs
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What is I2 Enterprise PCL Piotroski F-Score?

I2 Enterprise PCL BKK:I2 +2.60% 11 Piotroski F-Score is 5 as of Jun. 28, 2026, which is 25% above its 10-year median of 4.00. GuruFocus rates BKK:I2 with a GF Score™ of 11/100 and a GF Value™ of ฿0.86 (Fairly Valued). The stock has 6 warning signs investors should review. Among 2,432 Hardware companies, I2 Enterprise PCL ranks better than 59.62% 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

I2 Enterprise 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 I2 Enterprise PCL's Piotroski F-Score or its related term are showing as below:

BKK:I2' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 5

During the past 5 years, the highest Piotroski F-Score of I2 Enterprise PCL was 5. The lowest was 2. And the median was 4.

I2 Enterprise PCL  (BKK:I2) 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.


I2 Enterprise PCL Piotroski F-Score Related Terms


I2 Enterprise PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for I2 Enterprise 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.

I2 Enterprise PCL Piotroski F-Score Chart

I2 Enterprise PCL Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A N/A N/A 3.00

I2 Enterprise PCL Quarterly Data
Dec21 Mar22 Sep22 Dec22 Mar23 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 2.00 2.00 4.00 3.00 5.00

BKK:I2 vs CSCO, CIEN, MSI: Piotroski F-Score Comparison

For the Communication Equipment subindustry, I2 Enterprise 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.


I2 Enterprise PCL Piotroski F-Score vs Hardware Industry

For the Hardware industry and Technology sector, I2 Enterprise PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where I2 Enterprise PCL's Piotroski F-Score falls into.


BKK:I2
11GF Score
I2 Enterprise PCL BKK:I2
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -2.691 + 0.233 + 14.882 + 6.317 = ฿18.7 Mil.
Cash Flow from Operations was -13.903 + -42.602 + -14.78 + -55.345 = ฿-126.6 Mil.
Revenue was 168.858 + 174.446 + 323.729 + 216.062 = ฿883.1 Mil.
Gross Profit was 13.088 + 17.399 + 37.056 + 35.987 = ฿103.5 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2095.67 + 1904.75 + 1921.378 + 1791.575 + 1794.936) / 5 = ฿1901.6618 Mil.
Total Assets at the begining of this year (Mar25) was ฿2,095.7 Mil.
Long-Term Debt & Capital Lease Obligation was ฿652.9 Mil.
Total Current Assets was ฿588.2 Mil.
Total Current Liabilities was ฿478.2 Mil.
Net Income was 28.367 + 7.802 + 3.961 + 0.983 = ฿41.1 Mil.

Revenue was 469.33 + 351.568 + 207.326 + 138.897 = ฿1,167.1 Mil.
Gross Profit was 49.595 + 26.322 + 20.867 + 19.551 = ฿116.3 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(1943.235 + 1910.626 + 2085.252 + 2092.9 + 2095.67) / 5 = ฿2025.5366 Mil.
Total Assets at the begining of last year (Mar24) was ฿1,943.2 Mil.
Long-Term Debt & Capital Lease Obligation was ฿760.9 Mil.
Total Current Assets was ฿723.6 Mil.
Total Current Liabilities was ฿608.1 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.

I2 Enterprise PCL's current Net Income (TTM) was 18.7. ==> 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.

I2 Enterprise PCL's current Cash Flow from Operations (TTM) was -126.6. ==> Negative ==> Score 0.

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)
=18.741/2095.67
=0.00894272

ROA (Last Year)=Net Income/Total Assets (Mar24)
=41.113/1943.235
=0.02115699

I2 Enterprise PCL's return on assets of this year was 0.00894272. I2 Enterprise PCL's return on assets of last year was 0.02115699. ==> 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.

I2 Enterprise PCL's current Net Income (TTM) was 18.7. I2 Enterprise PCL's current Cash Flow from Operations (TTM) was -126.6. ==> -126.6 <= 18.7 ==> CFROA <= ROA ==> Score 0.

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
=652.9/1901.6618
=0.34333129

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=760.923/2025.5366
=0.3756649

I2 Enterprise PCL's gearing of this year was 0.34333129. I2 Enterprise PCL's gearing of last year was 0.3756649. ==> 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
=588.171/478.183
=1.23001236

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=723.633/608.114
=1.18996274

I2 Enterprise PCL's current ratio of this year was 1.23001236. I2 Enterprise PCL's current ratio of last year was 1.18996274. ==> 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.

I2 Enterprise PCL's number of shares in issue this year was 421.133. I2 Enterprise PCL's number of shares in issue last year was 491.5. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=103.53/883.095
=0.11723541

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=116.335/1167.121
=0.0996769

I2 Enterprise PCL's gross margin of this year was 0.11723541. I2 Enterprise PCL's gross margin of last year was 0.0996769. ==> 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)
=883.095/2095.67
=0.4213903

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1167.121/1943.235
=0.60060723

I2 Enterprise PCL's asset turnover of this year was 0.4213903. I2 Enterprise PCL's asset turnover of last year was 0.60060723. ==> 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+0+0+0+1+1+1+1+0
=5

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

I2 Enterprise 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?
I2 Enterprise PCL (BKK:I2) has a Piotroski F-Score of 5 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on I2 Enterprise PCL and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, I2 Enterprise PCL's Piotroski F-Score has ranged from 2.00 to 5.00. According to the industry distribution chart, I2 Enterprise PCL ranks #982 out of 2432 companies in the Hardware industry, placing it in the top 40.4%.
Is I2 Enterprise PCL's Piotroski F-Score too high?
I2 Enterprise PCL's current Piotroski F-Score of 5 is 25% above 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 5.00. The Hardware industry median Piotroski F-Score is 5.00. I2 Enterprise PCL's value of 5 is 0% at this industry median. Based on the distribution chart, I2 Enterprise PCL ranks #982 out of 2432 companies in the Hardware industry, which is above the industry midpoint. Overall, I2 Enterprise PCL has a GF Score™ of 11/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does I2 Enterprise PCL's Piotroski F-Score compare to CSCO and CIEN?
According to the Hardware industry distribution chart, I2 Enterprise PCL ranks #982 out of 2432 companies for Piotroski F-Score. This puts I2 Enterprise PCL in the upper half of its industry. The industry median Piotroski F-Score is 5.00. I2 Enterprise PCL's value of 5 is 0% at this benchmark. Historically, I2 Enterprise PCL's own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, I2 Enterprise 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,432 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. I2 Enterprise 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 I2 Enterprise PCL and its competitors. For the Hardware 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. I2 Enterprise PCL's current Piotroski F-Score is 5, which is 25% above 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 I2 Enterprise PCL stock overvalued right now?
Based on GuruFocus' analysis, I2 Enterprise PCL (BKK:I2) is currently considered Fairly Valued. The stock's GF Value™ is ฿0.86, compared to a current price of ฿0.79 — trading 8.1% below its estimated fair value. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Hardware industry median of 5.00. I2 Enterprise PCL's overall GF Score™ is 11/100 with 6 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 I2 Enterprise PCL (BKK:I2), the current Piotroski F-Score is 5 as of Jun. 28, 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 I2 Enterprise PCL (BKK:I2) Overvalued in 2026?

Based on GuruFocus' analysis, I2 Enterprise PCL stock appears to be undervalued. The current stock price of ฿0.79 is trading 8.1% below its estimated GF Value™ of ฿0.86. GuruFocus considers I2 Enterprise PCL to be Fairly Valued.

Key valuation signals for BKK:I2:

  • Piotroski F-Score: 5 (25% above median its 10-year median of 4.00)
  • GF Value™: ฿0.86 vs. price of ฿0.79 (8.1% below fair value)
  • GF Score™: 11/100 with 6 warning signs
  • Industry Position: 0% at the Hardware median (#982 of 2432)

No single metric tells the full story. See the BKK:I2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


I2 Enterprise PCL Business Description

Address Nakniwat Road, 104 Soi Nakniwat 6, Latphrao, Bangkok, THA, 10230
I2 Enterprise PCL is principally engaged in selling and installing various types of telecommunications equipment and communication services, from which the company generates the majority of its revenue. Also company is engaged in selling equipment and providing high-speed broadband internet services.
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿0.79
Price
฿0.86
GF Value