Phol Dhanya PCL (BKK:PHOL) Piotroski F-Score: 7 (As of Jul. 16, 2026) — 17% Above Median

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BKK:PHOL Phol Dhanya PCL BKK:PHOL
75 GF Score
Price ฿3.18
GF Value ฿2.92
Valuation Fairly Valued
! 4 Warning Signs
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What is Phol Dhanya PCL Piotroski F-Score?

Phol Dhanya PCL BKK:PHOL +1.92% 75 Piotroski F-Score is 7 as of Jul. 16, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates BKK:PHOL with a GF Score™ of 75/100 and a GF Value™ of ฿2.92 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,064 Business Services companies, Phol Dhanya PCL ranks better than 88.72% on this metric.

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

Phol Dhanya PCL has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Phol Dhanya PCL's Piotroski F-Score or its related term are showing as below:

BKK:PHOL' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Phol Dhanya PCL was 9. The lowest was 1. And the median was 6.

Phol Dhanya PCL  (BKK:PHOL) 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.


Phol Dhanya PCL Piotroski F-Score Related Terms


Phol Dhanya PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Phol Dhanya 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.

Phol Dhanya PCL Piotroski F-Score Chart

Phol Dhanya 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 6.00 5.00 8.00 7.00 6.00

Phol Dhanya 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 4.00 4.00 7.00 6.00 7.00

BKK:PHOL vs ALLE, MSA, ADT: Piotroski F-Score Comparison

For the Security & Protection Services subindustry, Phol Dhanya 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.


Phol Dhanya PCL Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Phol Dhanya PCL's Piotroski F-Score distribution charts can be found below:

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


BKK:PHOL
75GF Score
Phol Dhanya PCL BKK:PHOL
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 15.103 + 19.442 + 15.348 + 20.379 = ฿70 Mil.
Cash Flow from Operations was 9.773 + 43.477 + 43.563 + 5.024 = ฿102 Mil.
Revenue was 247.657 + 261.437 + 261.263 + 260.483 = ฿1,031 Mil.
Gross Profit was 66.795 + 78.365 + 77.604 + 77.826 = ฿301 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(699.701 + 663.303 + 665.285 + 669.421 + 689.871) / 5 = ฿677.5162 Mil.
Total Assets at the begining of this year (Mar25) was ฿700 Mil.
Long-Term Debt & Capital Lease Obligation was ฿36 Mil.
Total Current Assets was ฿533 Mil.
Total Current Liabilities was ฿173 Mil.
Net Income was 16.398 + 19.348 + 14.396 + 16.182 = ฿66 Mil.

Revenue was 237.183 + 265.496 + 252.549 + 246.306 = ฿1,002 Mil.
Gross Profit was 60.347 + 62.916 + 66.105 + 65.85 = ฿255 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(645.372 + 654.172 + 632.012 + 651.01 + 699.701) / 5 = ฿656.4534 Mil.
Total Assets at the begining of last year (Mar24) was ฿645 Mil.
Long-Term Debt & Capital Lease Obligation was ฿42 Mil.
Total Current Assets was ฿537 Mil.
Total Current Liabilities was ฿209 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.

Phol Dhanya PCL's current Net Income (TTM) was 70. ==> 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.

Phol Dhanya PCL's current Cash Flow from Operations (TTM) was 102. ==> 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)
=70.272/699.701
=0.10043147

ROA (Last Year)=Net Income/Total Assets (Mar24)
=66.324/645.372
=0.10276864

Phol Dhanya PCL's return on assets of this year was 0.10043147. Phol Dhanya PCL's return on assets of last year was 0.10276864. ==> 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.

Phol Dhanya PCL's current Net Income (TTM) was 70. Phol Dhanya PCL's current Cash Flow from Operations (TTM) was 102. ==> 102 > 70 ==> 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
=36.225/677.5162
=0.05346736

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=41.819/656.4534
=0.06370445

Phol Dhanya PCL's gearing of this year was 0.05346736. Phol Dhanya PCL's gearing of last year was 0.06370445. ==> 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
=532.658/172.912
=3.08051494

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=536.877/209.354
=2.56444587

Phol Dhanya PCL's current ratio of this year was 3.08051494. Phol Dhanya PCL's current ratio of last year was 2.56444587. ==> 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.

Phol Dhanya PCL's number of shares in issue this year was 202.5. Phol Dhanya PCL's number of shares in issue last year was 202.5. ==> 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
=300.59/1030.84
=0.29159714

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=255.218/1001.534
=0.2548271

Phol Dhanya PCL's gross margin of this year was 0.29159714. Phol Dhanya PCL's gross margin of last year was 0.2548271. ==> 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)
=1030.84/699.701
=1.47325786

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1001.534/645.372
=1.55187086

Phol Dhanya PCL's asset turnover of this year was 1.47325786. Phol Dhanya PCL's asset turnover of last year was 1.55187086. ==> 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+1+0+1+1+1+1+1+0
=7

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

Phol Dhanya PCL has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Phol Dhanya PCL (BKK:PHOL) has a Piotroski F-Score of 7 as of Jul. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Phol Dhanya PCL and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Phol Dhanya PCL's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, Phol Dhanya PCL ranks #120 out of 1064 companies in the Business Services industry, placing it in the top 11.3%.
Is Phol Dhanya PCL's Piotroski F-Score too high?
Phol Dhanya PCL's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Business Services industry median Piotroski F-Score is 5.00. Phol Dhanya PCL's value of 7 is 40% above this industry median. Based on the distribution chart, Phol Dhanya PCL ranks #120 out of 1064 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Phol Dhanya PCL has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Phol Dhanya PCL's Piotroski F-Score compare to ALLE and MSA?
According to the Business Services industry distribution chart, Phol Dhanya PCL ranks #120 out of 1064 companies for Piotroski F-Score. This places Phol Dhanya PCL in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Phol Dhanya PCL's value of 7 is 40% above this benchmark. Historically, Phol Dhanya PCL's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Phol Dhanya 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 Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,064 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. Phol Dhanya PCL's current Piotroski F-Score of 7 is 40% 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 Phol Dhanya PCL and its competitors. For the Business 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. Phol Dhanya PCL's current Piotroski F-Score is 7, which is 17% above 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 Phol Dhanya PCL stock overvalued right now?
Based on GuruFocus' analysis, Phol Dhanya PCL (BKK:PHOL) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.92, compared to a current price of ฿3.18 — trading 8.9% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Business Services industry median of 5.00. Phol Dhanya PCL's overall GF Score™ is 75/100 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 Phol Dhanya PCL (BKK:PHOL), the current Piotroski F-Score is 7 as of Jul. 16, 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 Phol Dhanya PCL (BKK:PHOL) Overvalued in 2026?

Based on GuruFocus' analysis, Phol Dhanya PCL stock appears to be overvalued. The current stock price of ฿3.18 is trading 8.9% above its estimated GF Value™ of ฿2.92. GuruFocus considers Phol Dhanya PCL to be Fairly Valued.

Key valuation signals for BKK:PHOL:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: ฿2.92 vs. price of ฿3.18 (8.9% above fair value)
  • GF Score™: 75/100 with 4 warning signs
  • Industry Position: 40% above the Business Services median (#120 of 1064)

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


Phol Dhanya PCL Business Description

Address 1/11 Moo 3 Lamlukka Road, Tambol Ladsawai, Amphur Lamlukka, Pathum Thani Province, Pathumthani, THA, 12150
Phol Dhanya PCL is a Thailand-based company engaged in the trading business. It is involved in the distribution of safety, health, and environmental products, and the distribution, production, and servicing of water treatment systems. The operating segments of the group are Trading in Health and Safety Products, Water treatment systems, and Others. It generates the majority of its revenue from the Trading in Health and Safety Products segment. The company offers products like firefighting suits, gas meters, fall protection devices, gloves, dust masks, chemical masks, and other related products. The group operates in Thailand, and internationally of which the majority of the revenue is derived from Thailand.
75GF Score

Get the complete analysis for BKK:PHOL

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿3.18
Price
฿2.92
GF Value