Srithai Superware PCL (BKK:SITHAI) Piotroski F-Score: 9 (As of Aug. 14, 2026) — 50% 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:SITHAI Srithai Superware PCL BKK:SITHAI
72 GF Score
Price ฿1.20
GF Value ฿1.05
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is Srithai Superware PCL Piotroski F-Score?

Srithai Superware PCL BKK:SITHAI +5.26% 72 Piotroski F-Score is 9 as of Aug. 14, 2026, which is 50% above its 10-year median of 6.00. GuruFocus rates BKK:SITHAI with a GF Score™ of 72/100 and a GF Value™ of ฿1.05 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 392 Packaging & Containers companies, Srithai Superware PCL ranks better than 99.74% on this metric.

Good Sign:

Piotroski F-Score is 9, 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

Srithai Superware PCL has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

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

BKK:SITHAI' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Srithai Superware PCL was 9. The lowest was 3. And the median was 6.

Srithai Superware PCL  (BKK:SITHAI) 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.


Srithai Superware PCL Piotroski F-Score Related Terms


Srithai Superware PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Srithai Superware 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.

Srithai Superware PCL Piotroski F-Score Chart

Srithai Superware 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 8.00 8.00 8.00 8.00 6.00

Srithai Superware 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 6.00 7.00 6.00 9.00

BKK:SITHAI vs SW, PKG, IP: Piotroski F-Score Comparison

For the Packaging & Containers subindustry, Srithai Superware 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.


Srithai Superware PCL Piotroski F-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Srithai Superware PCL's Piotroski F-Score distribution charts can be found below:

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


BKK:SITHAI
72GF Score
Srithai Superware PCL BKK:SITHAI
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 37.679 + 48.439 + 66.058 + 102.877 = ฿255 Mil.
Cash Flow from Operations was 259.219 + 202.456 + 181.718 + 175.809 = ฿819 Mil.
Revenue was 1779.803 + 1776.688 + 1948.56 + 1882.074 = ฿7,387 Mil.
Gross Profit was 239.061 + 234.454 + 312.537 + 313.347 = ฿1,099 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(7148.18 + 6934.925 + 6774.359 + 6710.935 + 6827.263) / 5 = ฿6879.1324 Mil.
Total Assets at the begining of this year (Mar25) was ฿7,148 Mil.
Long-Term Debt & Capital Lease Obligation was ฿284 Mil.
Total Current Assets was ฿3,277 Mil.
Total Current Liabilities was ฿1,698 Mil.
Net Income was 96.958 + 52.727 + 15.852 + 60.709 = ฿226 Mil.

Revenue was 2097.701 + 1866.114 + 2003.317 + 1822.488 = ฿7,790 Mil.
Gross Profit was 292.953 + 257.087 + 288.047 + 262.776 = ฿1,101 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(7601.914 + 7806.321 + 7191.334 + 7190.388 + 7148.18) / 5 = ฿7387.6274 Mil.
Total Assets at the begining of last year (Mar24) was ฿7,602 Mil.
Long-Term Debt & Capital Lease Obligation was ฿367 Mil.
Total Current Assets was ฿3,420 Mil.
Total Current Liabilities was ฿1,947 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.

Srithai Superware PCL's current Net Income (TTM) was 255. ==> 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.

Srithai Superware PCL's current Cash Flow from Operations (TTM) was 819. ==> 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)
=255.053/7148.18
=0.03568083

ROA (Last Year)=Net Income/Total Assets (Mar24)
=226.246/7601.914
=0.02976172

Srithai Superware PCL's return on assets of this year was 0.03568083. Srithai Superware PCL's return on assets of last year was 0.02976172. ==> 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.

Srithai Superware PCL's current Net Income (TTM) was 255. Srithai Superware PCL's current Cash Flow from Operations (TTM) was 819. ==> 819 > 255 ==> 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
=283.935/6879.1324
=0.04127483

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=367.234/7387.6274
=0.04970933

Srithai Superware PCL's gearing of this year was 0.04127483. Srithai Superware PCL's gearing of last year was 0.04970933. ==> 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
=3276.739/1698.223
=1.92951044

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=3419.619/1946.893
=1.75644938

Srithai Superware PCL's current ratio of this year was 1.92951044. Srithai Superware PCL's current ratio of last year was 1.75644938. ==> 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.

Srithai Superware PCL's number of shares in issue this year was 2571.925. Srithai Superware PCL's number of shares in issue last year was 3035.45. ==> 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
=1099.399/7387.125
=0.14882637

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1100.863/7789.62
=0.14132435

Srithai Superware PCL's gross margin of this year was 0.14882637. Srithai Superware PCL's gross margin of last year was 0.14132435. ==> 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)
=7387.125/7148.18
=1.03342739

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=7789.62/7601.914
=1.02469194

Srithai Superware PCL's asset turnover of this year was 1.03342739. Srithai Superware PCL's asset turnover of last year was 1.02469194. ==> 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+1+1+1+1
=9

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

Srithai Superware PCL has an F-score of 9. 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 9 mean?
Srithai Superware PCL (BKK:SITHAI) has a Piotroski F-Score of 9 as of Aug. 14, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Srithai Superware PCL and its competitors. This is 50% above median its historical median of 6.00. Over the past decade, Srithai Superware PCL's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Srithai Superware PCL ranks #1 out of 392 companies in the Packaging & Containers industry, placing it in the top 0.3%.
Is Srithai Superware PCL's Piotroski F-Score too high?
Srithai Superware PCL's current Piotroski F-Score of 9 is 50% above 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 9.00. The Packaging & Containers industry median Piotroski F-Score is 5.00. Srithai Superware PCL's value of 9 is 80% above this industry median. Based on the distribution chart, Srithai Superware PCL ranks #1 out of 392 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers. Overall, Srithai Superware PCL has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Srithai Superware PCL's Piotroski F-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Srithai Superware PCL ranks #1 out of 392 companies for Piotroski F-Score. This places Srithai Superware PCL in the top 0% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Srithai Superware PCL's value of 9 is 80% above this benchmark. Historically, Srithai Superware PCL's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Srithai Superware 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 Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 392 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. Srithai Superware PCL's current Piotroski F-Score of 9 is 80% 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 Srithai Superware PCL and its competitors. For the Packaging & Containers 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. Srithai Superware PCL's current Piotroski F-Score is 9, which is 50% 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 Srithai Superware PCL stock overvalued right now?
Based on GuruFocus' analysis, Srithai Superware PCL (BKK:SITHAI) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿1.05, compared to a current price of ฿1.20 — trading 14.3% above its estimated fair value. The current Piotroski F-Score is 9, which is 50% above median its 10-year median of 6.00 and 80% above the Packaging & Containers industry median of 5.00. Srithai Superware PCL's overall GF Score™ is 72/100 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 Srithai Superware PCL (BKK:SITHAI), the current Piotroski F-Score is 9 as of Aug. 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 Srithai Superware PCL (BKK:SITHAI) Overvalued in 2026?

Based on GuruFocus' analysis, Srithai Superware PCL stock appears to be overvalued. The current stock price of ฿1.20 is trading 14.3% above its estimated GF Value™ of ฿1.05. GuruFocus considers Srithai Superware PCL to be Modestly Overvalued.

Key valuation signals for BKK:SITHAI:

  • Piotroski F-Score: 9 (50% above median its 10-year median of 6.00)
  • GF Value™: ฿1.05 vs. price of ฿1.20 (14.3% above fair value)
  • GF Score™: 72/100 with 4 warning signs
  • Industry Position: 80% above the Packaging & Containers median (#1 of 392)

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


Srithai Superware PCL Business Description

Address 15 Suksawat Road, Soi 36, Bangpakok, Rat Burana, Bangkok, THA, 10140
Srithai Superware PCL is principally engaged in the manufacture and distribution of plastics products such as plastic products for household and plastic products for industry and the manufacture and distribution of moulds. The company's business is divided into a plastic business line, consisting of household products business unit and industrial products business unit, and moulds and others business line. The business is further bifurcated into domestic and overseas. Key revenue is observed in household business unit under domestic segment.
72GF Score

Get the complete analysis for BKK:SITHAI

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

฿1.20
Price
฿1.05
GF Value