TV Thunder PCL (BKK:TVT) Piotroski F-Score: 4 (As of Aug. 04, 2026) — 20% Below Median

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BKK:TVT TV Thunder PCL BKK:TVT
42 GF Score
Price ฿0.24
GF Value ฿0.21
Valuation Modestly Overvalued
! 2 Warning Signs
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What is TV Thunder PCL Piotroski F-Score?

TV Thunder PCL BKK:TVT 42 Piotroski F-Score is 4 as of Aug. 04, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates BKK:TVT with a GF Score™ of 42/100 and a GF Value™ of ฿0.21 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,003 Media - Diversified companies, TV Thunder PCL ranks worse than 59.72% 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

TV Thunder PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

BKK:TVT' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 4

During the past 12 years, the highest Piotroski F-Score of TV Thunder PCL was 9. The lowest was 2. And the median was 5.

TV Thunder PCL  (BKK:TVT) 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.


TV Thunder PCL Piotroski F-Score Related Terms


TV Thunder PCL Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for TV Thunder 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.

TV Thunder PCL Piotroski F-Score Chart

TV Thunder 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 5.00 6.00 6.00 3.00

TV Thunder 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 3.00 3.00 2.00 3.00 4.00

BKK:TVT vs NFLX, DIS, WBD: Piotroski F-Score Comparison

For the Entertainment subindustry, TV Thunder 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.


TV Thunder PCL Piotroski F-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, TV Thunder PCL's Piotroski F-Score distribution charts can be found below:

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


BKK:TVT
42GF Score
TV Thunder PCL BKK:TVT
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 -5.091 + -2.634 + -3.409 + -6.609 = ฿-17.7 Mil.
Cash Flow from Operations was -19.723 + 17.281 + 1.419 + 2.527 = ฿1.5 Mil.
Revenue was 40.695 + 23.161 + 30.95 + 23.16 = ฿118.0 Mil.
Gross Profit was 5.767 + 3.621 + 8.579 + 3.171 = ฿21.1 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(643.769 + 639.728 + 641.386 + 626.612 + 621.904) / 5 = ฿634.6798 Mil.
Total Assets at the begining of this year (Mar25) was ฿643.8 Mil.
Long-Term Debt & Capital Lease Obligation was ฿3.8 Mil.
Total Current Assets was ฿231.3 Mil.
Total Current Liabilities was ฿19.6 Mil.
Net Income was 3.011 + -3.844 + -9.886 + -8.941 = ฿-19.7 Mil.

Revenue was 52.797 + 27.768 + 42.454 + 25.717 = ฿148.7 Mil.
Gross Profit was 21.405 + 10.142 + 9.56 + 1.535 = ฿42.6 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(677.792 + 681.467 + 692.285 + 670.716 + 643.769) / 5 = ฿673.2058 Mil.
Total Assets at the begining of last year (Mar24) was ฿677.8 Mil.
Long-Term Debt & Capital Lease Obligation was ฿2.6 Mil.
Total Current Assets was ฿233.2 Mil.
Total Current Liabilities was ฿23.1 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.

TV Thunder PCL's current Net Income (TTM) was -17.7. ==> Negative ==> Score 0.

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.

TV Thunder PCL's current Cash Flow from Operations (TTM) was 1.5. ==> 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)
=-17.743/643.769
=-0.02756113

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-19.66/677.792
=-0.02900595

TV Thunder PCL's return on assets of this year was -0.02756113. TV Thunder PCL's return on assets of last year was -0.02900595. ==> 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.

TV Thunder PCL's current Net Income (TTM) was -17.7. TV Thunder PCL's current Cash Flow from Operations (TTM) was 1.5. ==> 1.5 > -17.7 ==> 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
=3.796/634.6798
=0.00598097

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=2.619/673.2058
=0.00389034

TV Thunder PCL's gearing of this year was 0.00598097. TV Thunder PCL's gearing of last year was 0.00389034. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=231.344/19.638
=11.78042571

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=233.23/23.146
=10.0764711

TV Thunder PCL's current ratio of this year was 11.78042571. TV Thunder PCL's current ratio of last year was 10.0764711. ==> 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.

TV Thunder PCL's number of shares in issue this year was 800.024. TV Thunder PCL's number of shares in issue last year was 800.018. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=21.138/117.966
=0.17918722

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=42.642/148.736
=0.28669589

TV Thunder PCL's gross margin of this year was 0.17918722. TV Thunder PCL's gross margin of last year was 0.28669589. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=117.966/643.769
=0.18324275

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=148.736/677.792
=0.21944195

TV Thunder PCL's asset turnover of this year was 0.18324275. TV Thunder PCL's asset turnover of last year was 0.21944195. ==> 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
=0+1+1+1+0+1+0+0+0
=4

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

TV Thunder PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
TV Thunder PCL (BKK:TVT) has a Piotroski F-Score of 4 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on TV Thunder PCL and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, TV Thunder PCL's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, TV Thunder PCL ranks #599 out of 1003 companies in the Media - Diversified industry, placing it in the top 59.7%.
Is TV Thunder PCL's Piotroski F-Score too high?
TV Thunder PCL's current Piotroski F-Score of 4 is 20% below 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 Media - Diversified industry median Piotroski F-Score is 5.00. TV Thunder PCL's value of 4 is 20% below this industry median. Based on the distribution chart, TV Thunder PCL ranks #599 out of 1003 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, TV Thunder PCL has a GF Score™ of 42/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TV Thunder PCL's Piotroski F-Score compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, TV Thunder PCL ranks #599 out of 1003 companies for Piotroski F-Score. This places TV Thunder PCL in the lower half of its industry. The industry median Piotroski F-Score is 5.00. TV Thunder PCL's value of 4 is 20% below this benchmark. Historically, TV Thunder 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 5.00, TV Thunder PCL has consistently been below 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 Media - Diversified company?
The median Piotroski F-Score among Media - Diversified companies is 5.00, based on 1,003 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. TV Thunder PCL's current Piotroski F-Score of 4 is 20% below 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 TV Thunder PCL and its competitors. For the Media - Diversified 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. TV Thunder PCL's current Piotroski F-Score is 4, which is 20% below 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 TV Thunder PCL stock overvalued right now?
Based on GuruFocus' analysis, TV Thunder PCL (BKK:TVT) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿0.21, compared to a current price of ฿0.24 — trading 14.3% above its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Media - Diversified industry median of 5.00. TV Thunder PCL's overall GF Score™ is 42/100 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 TV Thunder PCL (BKK:TVT), the current Piotroski F-Score is 4 as of Aug. 04, 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 TV Thunder PCL (BKK:TVT) Overvalued in 2026?

Based on GuruFocus' analysis, TV Thunder PCL stock appears to be overvalued. The current stock price of ฿0.24 is trading 14.3% above its estimated GF Value™ of ฿0.21. GuruFocus considers TV Thunder PCL to be Modestly Overvalued.

Key valuation signals for BKK:TVT:

  • Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
  • GF Value™: ฿0.21 vs. price of ฿0.24 (14.3% above fair value)
  • GF Score™: 42/100 with 2 warning signs
  • Industry Position: 20% below the Media - Diversified median (#599 of 1003)

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


TV Thunder PCL Business Description

Address 1213/309 -10Soi Lardprao 94 (Panjamit) Srivara Road, Kwaeng Phlapphla, Khet Wangthonglang, Bangkok, THA, 10310
TV Thunder PCL is engaged in Television series and variety shows production, Advertising services and other sales promotion activities rendering, Managing, promoting and producing television programs, music, series and movies, and Artist management. There are four reportable segments i.e. Advertising business, Services, events and television programme production business, Artist management business, and Other business. The majority of the revenue is derived from Services, events and television programme production business.
42GF Score

Get the complete analysis for BKK:TVT

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

฿0.24
Price
฿0.21
GF Value