Thai Mui PCLBKK:THMUI 53 Piotroski F-Score is 9 as of Jun. 26, 2026, which is 80% above its 10-year median of 5.00. GuruFocus rates BKK:THMUI with a GF Score™ of 53/100 and a GF Value™ of ฿0.63 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 150 Industrial Distribution companies, Thai Mui PCL ranks better than 99.33% 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
Thai Mui 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 Thai Mui PCL's Piotroski F-Score or its related term are showing as below:
BKK:THMUI'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 9
During the past 12 years, the highest Piotroski F-Score of Thai Mui PCL was 9. The lowest was 2. And the median was 5.
Thai Mui PCL (BKK:THMUI) 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.
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.
Thai Mui PCL Piotroski F-Score Related Terms
Thai Mui PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Thai Mui 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.
BKK:THMUI vs GWW, FAST, FERG: Piotroski F-Score Comparison
For the Industrial Distribution subindustry, Thai Mui 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.
Thai Mui PCL Piotroski F-Score vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Thai Mui PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Thai Mui 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.
Thai Mui PCL's current Net Income (TTM) was 13.8.
==> 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.
Thai Mui PCL's return on assets of this year was 0.02179337. Thai Mui PCL's return on assets of last year was -0.05519958.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Thai Mui PCL's gearing of this year was 0.05826944. Thai Mui PCL's gearing of last year was 0.0634785.
==> 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
Thai Mui PCL's current ratio of this year was 1.96638707. Thai Mui PCL's current ratio of last year was 1.78281216.
==> 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.
Thai Mui PCL's number of shares in issue this year was 349.007. Thai Mui PCL's number of shares in issue last year was 349.007.
==> 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.
Thai Mui PCL's gross margin of this year was 0.39838878. Thai Mui PCL's gross margin of last year was 0.38845616.
==> 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
Thai Mui PCL's asset turnover of this year was 0.70474689. Thai Mui PCL's asset turnover of last year was 0.54104467.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Thai Mui PCL has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
Thai Mui PCL (BKK:THMUI) has a Piotroski F-Score of 9 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Thai Mui PCL and its competitors. This is 80% above median its historical median of 5.00. Over the past decade, Thai Mui PCL's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Thai Mui PCL ranks #1 out of 150 companies in the Industrial Distribution industry, placing it in the top 0.7%.
Is Thai Mui PCL's Piotroski F-Score too high?
Thai Mui PCL's current Piotroski F-Score of 9 is 80% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Industrial Distribution industry median Piotroski F-Score is 6.00. Thai Mui PCL's value of 9 is 50% above this industry median. Based on the distribution chart, Thai Mui PCL ranks #1 out of 150 companies in the Industrial Distribution industry, which is in the top quartile — a strong position relative to peers. Overall, Thai Mui PCL has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Thai Mui PCL's Piotroski F-Score compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Thai Mui PCL ranks #1 out of 150 companies for Piotroski F-Score. This places Thai Mui PCL in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Thai Mui PCL's value of 9 is 50% above this benchmark. Historically, Thai Mui PCL's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Thai Mui 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 an Industrial Distribution company?
The median Piotroski F-Score among Industrial Distribution companies is 6.00, based on 150 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. Thai Mui PCL's current Piotroski F-Score of 9 is 50% 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 Thai Mui PCL and its competitors. For the Industrial Distribution industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Mui PCL's current Piotroski F-Score is 9, which is 80% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Mui PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Mui PCL (BKK:THMUI) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.63, compared to a current price of ฿0.31 — trading 50.8% below its estimated fair value. The current Piotroski F-Score is 9, which is 80% above median its 10-year median of 5.00 and 50% above the Industrial Distribution industry median of 6.00. Thai Mui PCL's overall GF Score™ is 53/100 with 2 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 Thai Mui PCL (BKK:THMUI), the current Piotroski F-Score is 9 as of Jun. 26, 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 Thai Mui PCL (BKK:THMUI) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Mui PCL stock appears to be undervalued.
The current stock price of ฿0.31 is trading 50.8% below its estimated GF Value™ of ฿0.63.
GuruFocus considers Thai Mui PCL to be Possible Value Trap.
Key valuation signals for BKK:THMUI:
Piotroski F-Score: 9 (80% above median its 10-year median of 5.00)
GF Value™: ฿0.63 vs. price of ฿0.31 (50.8% below fair value)
Industry Position: 50% above the Industrial Distribution median (#1 of 150)
No single metric tells the full story. See the BKK:THMUI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Mui Corp PCL is engaged in the retail and wholesale of ironware, wire rope, saw, and pipe, and provides loop wire rope and equipment installation and inspection, plumbing contractor project, and construction of a water quality improvement business for shrimp farm. Its products include Wire rope, Skate, Soft sling, Hook, etc. The company's segments are Sales and service and Project work. The key revenue is derived from the sale of wire rope and lifting equipment, including replacement and installation, and providing technical inspection, testing, and analysis equipment activity. The group operates in Thailand.
53GF Score
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