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Thai Mitsuwa PCLBKK:TMW +1.22%91 Piotroski F-Score is 5 as of Jul. 19, 2026, which is 29% below its 10-year median of 7.00. GuruFocus rates BKK:TMW with a GF Score™ of 91/100 and a GF Value™ of ฿57.58 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,563 Chemicals companies, Thai Mitsuwa PCL ranks better than 55.21% 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
Thai Mitsuwa 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 Thai Mitsuwa PCL's Piotroski F-Score or its related term are showing as below:
BKK:TMW'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 7 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Thai Mitsuwa PCL was 9. The lowest was 3. And the median was 7.
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 Mitsuwa PCL Piotroski F-Score Related Terms
Thai Mitsuwa PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Thai Mitsuwa 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:TMW vs LIN, SHW, ECL: Piotroski F-Score Comparison
For the Specialty Chemicals subindustry, Thai Mitsuwa 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 Mitsuwa PCL Piotroski F-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Thai Mitsuwa PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Thai Mitsuwa 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 Mitsuwa PCL's current Net Income (TTM) was 540.
==> 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 Mitsuwa PCL's return on assets of this year was 0.12580566. Thai Mitsuwa PCL's return on assets of last year was 0.11846071.
==> 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 Mitsuwa PCL's gearing of this year was 0.00906862. Thai Mitsuwa PCL's gearing of last year was 0.00394559.
==> Last year is lower than this year ==> Score 0.
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 Mitsuwa PCL's current ratio of this year was 2.92618324. Thai Mitsuwa PCL's current ratio of last year was 3.18858053.
==> 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.
Thai Mitsuwa PCL's number of shares in issue this year was 39.943. Thai Mitsuwa PCL's number of shares in issue last year was 39.9.
==> There is larger number of shares in issue this year. ==> Score 0.
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 Mitsuwa PCL's gross margin of this year was 0.23122167. Thai Mitsuwa PCL's gross margin of last year was 0.23795726.
==> Last year's gross margin is higher ==> Score 0.
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 Mitsuwa PCL's asset turnover of this year was 0.97554927. Thai Mitsuwa PCL's asset turnover of last year was 0.96218671.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Thai Mitsuwa PCL has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Thai Mitsuwa PCL (BKK:TMW) has a Piotroski F-Score of 5 as of Jul. 19, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Thai Mitsuwa PCL and its competitors. This is 29% below median its historical median of 7.00. Over the past decade, Thai Mitsuwa PCL's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Thai Mitsuwa PCL ranks #700 out of 1563 companies in the Chemicals industry, placing it in the top 44.8%.
Is Thai Mitsuwa PCL's Piotroski F-Score too high?
Thai Mitsuwa PCL's current Piotroski F-Score of 5 is 29% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Chemicals industry median Piotroski F-Score is 5.00. Thai Mitsuwa PCL's value of 5 is 0% at this industry median. Based on the distribution chart, Thai Mitsuwa PCL ranks #700 out of 1563 companies in the Chemicals industry, which is above the industry midpoint. Overall, Thai Mitsuwa PCL has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Thai Mitsuwa PCL's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Thai Mitsuwa PCL ranks #700 out of 1563 companies for Piotroski F-Score. This puts Thai Mitsuwa PCL in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Thai Mitsuwa PCL's value of 5 is 0% at this benchmark. Historically, Thai Mitsuwa 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 7.00 vs. the industry median of 5.00, Thai Mitsuwa 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,563 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 Mitsuwa 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 Thai Mitsuwa PCL and its competitors. For the Chemicals 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. Thai Mitsuwa PCL's current Piotroski F-Score is 5, which is 29% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Mitsuwa PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Mitsuwa PCL (BKK:TMW) is currently considered Fairly Valued. The stock's GF Value™ is ฿57.58, compared to a current price of ฿62.25 — trading 8.1% above its estimated fair value. The current Piotroski F-Score is 5, which is 29% below median its 10-year median of 7.00 and 0% at the Chemicals industry median of 5.00. Thai Mitsuwa PCL's overall GF Score™ is 91/100 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 Thai Mitsuwa PCL (BKK:TMW), the current Piotroski F-Score is 5 as of Jul. 19, 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 Mitsuwa PCL (BKK:TMW) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Mitsuwa PCL stock appears to be overvalued.
The current stock price of ฿62.25 is trading 8.1% above its estimated GF Value™ of ฿57.58.
GuruFocus considers Thai Mitsuwa PCL to be Fairly Valued.
Key valuation signals for BKK:TMW:
Piotroski F-Score: 5 (29% below median its 10-year median of 7.00)
GF Value™: ฿57.58 vs. price of ฿62.25 (8.1% above fair value)
Industry Position: 0% at the Chemicals median (#700 of 1563)
No single metric tells the full story. See the BKK:TMW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Mitsuwa PCL is a Thailand-based manufacturing company. The company's operating segment includes the manufacture and sales of plastic; the manufacture and sales of magnesium and the manufacture and sales of mold. It generates maximum revenue from the manufacture and sales of the magnesium segment. The product portfolio of the company includes Automotive parts comprising plastic parts for fenders front, rear panels, and door handles; Home Appliances comprising plastic parts for audio-video products like DVD and Home systems and magnesium products.
91GF Score
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