R&B Food Supply PCL (BKK:RBF) Piotroski F-Score: 8 (As of Jul. 14, 2026) — 33% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

BKK:RBF R&B Food Supply PCL BKK:RBF
93 GF Score
Price ฿5.10
GF Value ฿5.82
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is R&B Food Supply PCL Piotroski F-Score?

R&B Food Supply PCL BKK:RBF 93 Piotroski F-Score is 8 as of Jul. 14, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates BKK:RBF with a GF Score™ of 93/100 and a GF Value™ of ฿5.82 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,914 Consumer Packaged Goods companies, R&B Food Supply PCL ranks better than 97.7% on this metric.

Good Sign:

Piotroski F-Score is 8, 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

R&B Food Supply PCL has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for R&B Food Supply PCL's Piotroski F-Score or its related term are showing as below:

BKK:RBF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 9 years, the highest Piotroski F-Score of R&B Food Supply PCL was 8. The lowest was 4. And the median was 6.

R&B Food Supply PCL  (BKK:RBF) 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.


R&B Food Supply PCL Piotroski F-Score Related Terms


R&B Food Supply PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for R&B Food Supply 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.

R&B Food Supply PCL Piotroski F-Score Chart

R&B Food Supply PCL Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 6.00 7.00 6.00 5.00

R&B Food Supply 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 5.00 5.00 5.00 5.00 8.00

BKK:RBF vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, R&B Food Supply 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.


R&B Food Supply PCL Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, R&B Food Supply PCL's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where R&B Food Supply PCL's Piotroski F-Score falls into.


BKK:RBF
93GF Score
R&B Food Supply PCL BKK:RBF
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 96.885 + 101.287 + 127.615 + 141.93 = ฿468 Mil.
Cash Flow from Operations was 220.183 + 253.314 + 191.205 + 102.633 = ฿767 Mil.
Revenue was 1063.572 + 1078.26 + 1104.964 + 1085.51 = ฿4,332 Mil.
Gross Profit was 373.826 + 362.34 + 392.115 + 417.186 = ฿1,545 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(5884.481 + 5716.306 + 5650.302 + 5795.645 + 5961.635) / 5 = ฿5801.6738 Mil.
Total Assets at the begining of this year (Mar25) was ฿5,884 Mil.
Long-Term Debt & Capital Lease Obligation was ฿154 Mil.
Total Current Assets was ฿2,935 Mil.
Total Current Liabilities was ฿623 Mil.
Net Income was 102.313 + 109.178 + 129.485 + 105.716 = ฿447 Mil.

Revenue was 1030.551 + 1082.517 + 1117.769 + 1050.268 = ฿4,281 Mil.
Gross Profit was 357.395 + 375.023 + 385.732 + 370.62 = ฿1,489 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(5947.601 + 5691.84 + 5650.105 + 5809.907 + 5884.481) / 5 = ฿5796.7868 Mil.
Total Assets at the begining of last year (Mar24) was ฿5,948 Mil.
Long-Term Debt & Capital Lease Obligation was ฿171 Mil.
Total Current Assets was ฿3,052 Mil.
Total Current Liabilities was ฿588 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.

R&B Food Supply PCL's current Net Income (TTM) was 468. ==> 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.

R&B Food Supply PCL's current Cash Flow from Operations (TTM) was 767. ==> 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)
=467.717/5884.481
=0.07948314

ROA (Last Year)=Net Income/Total Assets (Mar24)
=446.692/5947.601
=0.07510457

R&B Food Supply PCL's return on assets of this year was 0.07948314. R&B Food Supply PCL's return on assets of last year was 0.07510457. ==> This year is higher. ==> Score 1.

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.

R&B Food Supply PCL's current Net Income (TTM) was 468. R&B Food Supply PCL's current Cash Flow from Operations (TTM) was 767. ==> 767 > 468 ==> 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
=154.033/5801.6738
=0.02654975

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=171.292/5796.7868
=0.02954947

R&B Food Supply PCL's gearing of this year was 0.02654975. R&B Food Supply PCL's gearing of last year was 0.02954947. ==> 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
=2935.279/623.321
=4.70909692

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=3052.017/587.605
=5.19399426

R&B Food Supply PCL's current ratio of this year was 4.70909692. R&B Food Supply PCL's current ratio of last year was 5.19399426. ==> 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.

R&B Food Supply PCL's number of shares in issue this year was 2027.571. R&B Food Supply PCL's number of shares in issue last year was 2114.315. ==> 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
=1545.467/4332.306
=0.3567308

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1488.77/4281.105
=0.34775368

R&B Food Supply PCL's gross margin of this year was 0.3567308. R&B Food Supply PCL's gross margin of last year was 0.34775368. ==> 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)
=4332.306/5884.481
=0.73622568

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=4281.105/5947.601
=0.71980367

R&B Food Supply PCL's asset turnover of this year was 0.73622568. R&B Food Supply PCL's asset turnover of last year was 0.71980367. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+1+1
=8

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

R&B Food Supply PCL has an F-score of 8. 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 8 mean?
R&B Food Supply PCL (BKK:RBF) has a Piotroski F-Score of 8 as of Jul. 14, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on R&B Food Supply PCL and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, R&B Food Supply PCL's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, R&B Food Supply PCL ranks #44 out of 1914 companies in the Consumer Packaged Goods industry, placing it in the top 2.3%.
Is R&B Food Supply PCL's Piotroski F-Score too high?
R&B Food Supply PCL's current Piotroski F-Score of 8 is 33% above 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 Consumer Packaged Goods industry median Piotroski F-Score is 5.00. R&B Food Supply PCL's value of 8 is 60% above this industry median. Based on the distribution chart, R&B Food Supply PCL ranks #44 out of 1914 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, R&B Food Supply PCL has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does R&B Food Supply PCL's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, R&B Food Supply PCL ranks #44 out of 1914 companies for Piotroski F-Score. This places R&B Food Supply PCL in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. R&B Food Supply PCL's value of 8 is 60% above this benchmark. Historically, R&B Food Supply 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, R&B Food Supply 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,914 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. R&B Food Supply PCL's current Piotroski F-Score of 8 is 60% 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 R&B Food Supply PCL and its competitors. For the Consumer Packaged Goods 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. R&B Food Supply PCL's current Piotroski F-Score is 8, which is 33% 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 R&B Food Supply PCL stock overvalued right now?
Based on GuruFocus' analysis, R&B Food Supply PCL (BKK:RBF) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿5.82, compared to a current price of ฿5.10 — trading 12.4% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Consumer Packaged Goods industry median of 5.00. R&B Food Supply PCL's overall GF Score™ is 93/100 with 7 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 R&B Food Supply PCL (BKK:RBF), the current Piotroski F-Score is 8 as of Jul. 14, 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 R&B Food Supply PCL (BKK:RBF) Overvalued in 2026?

Based on GuruFocus' analysis, R&B Food Supply PCL stock appears to be undervalued. The current stock price of ฿5.10 is trading 12.4% below its estimated GF Value™ of ฿5.82. GuruFocus considers R&B Food Supply PCL to be Modestly Undervalued.

Key valuation signals for BKK:RBF:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: ฿5.82 vs. price of ฿5.10 (12.4% below fair value)
  • GF Score™: 93/100 with 7 warning signs
  • Industry Position: 60% above the Consumer Packaged Goods median (#44 of 1914)

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


R&B Food Supply PCL Business Description

Address 9 Soi Pho Kaeo 3, Yaek 17, Khlongchan, Bangkapi, Bangkok, THA, 10240
R&B Food Supply PCL is engaged in the manufacturing and trading of bread products, colour, fragrances and chemicals, which are used in food, beverage, and consumer product industries. The operating business segments of the company are Domestic and Overseas production and trading business. Company generates majority revenue is from Domestic Sales.
93GF Score

Get the complete analysis for BKK:RBF

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

฿5.10
Price
฿5.82
GF Value