Union Pioneer PCLBKK:UPF 60 Piotroski F-Score is 3 as of Jul. 06, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates BKK:UPF with a GF Score™ of 60/100 and a GF Value™ of ฿29.54 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,045 Manufacturing - Apparel & Accessories companies, Union Pioneer PCL ranks worse than 82.39% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Union Pioneer PCL has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Union Pioneer PCL's Piotroski F-Score or its related term are showing as below:
BKK:UPF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 3
During the past 13 years, the highest Piotroski F-Score of Union Pioneer PCL was 9. The lowest was 2. And the median was 5.
Union Pioneer PCL (BKK:UPF) 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.
Union Pioneer PCL Piotroski F-Score Related Terms
Union Pioneer PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Union Pioneer 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.
For the Textile Manufacturing subindustry, Union Pioneer 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.
Union Pioneer PCL Piotroski F-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Union Pioneer PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Union Pioneer 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.
Union Pioneer PCL's current Net Income (TTM) was -8.4.
==> 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.
Union Pioneer PCL's return on assets of this year was -0.01791001. Union Pioneer PCL's return on assets of last year was -0.00153277.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Union Pioneer PCL's gearing of this year was 0.0845732. Union Pioneer PCL's gearing of last year was 0.04327359.
==> 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
Union Pioneer PCL's current ratio of this year was 6.19852332. Union Pioneer PCL's current ratio of last year was 6.65157771.
==> 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.
Union Pioneer PCL's number of shares in issue this year was 7.541. Union Pioneer PCL's number of shares in issue last year was 7.561.
==> 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.
Union Pioneer PCL's gross margin of this year was 0.09235229. Union Pioneer PCL's gross margin of last year was 0.09901642.
==> 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
Union Pioneer PCL's asset turnover of this year was 1.03513044. Union Pioneer PCL's asset turnover of last year was 1.17942712.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Union Pioneer PCL has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Union Pioneer PCL (BKK:UPF) has a Piotroski F-Score of 3 as of Jul. 06, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Union Pioneer PCL and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Union Pioneer PCL's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Union Pioneer PCL ranks #861 out of 1045 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 82.4%.
Is Union Pioneer PCL's Piotroski F-Score too high?
Union Pioneer PCL's current Piotroski F-Score of 3 is 40% 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 Manufacturing - Apparel & Accessories industry median Piotroski F-Score is 5.00. Union Pioneer PCL's value of 3 is 40% below this industry median. Based on the distribution chart, Union Pioneer PCL ranks #861 out of 1045 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Union Pioneer PCL has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Union Pioneer PCL's Piotroski F-Score compare to AIN?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Union Pioneer PCL ranks #861 out of 1045 companies for Piotroski F-Score. This places Union Pioneer PCL in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Union Pioneer PCL's value of 3 is 40% below this benchmark. Historically, Union Pioneer 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, Union Pioneer 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 Manufacturing - Apparel & Accessories company?
The median Piotroski F-Score among Manufacturing - Apparel & Accessories companies is 5.00, based on 1,045 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. Union Pioneer PCL's current Piotroski F-Score of 3 is 40% 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 Union Pioneer PCL and its competitors. For the Manufacturing - Apparel & Accessories 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. Union Pioneer PCL's current Piotroski F-Score is 3, which is 40% 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 Union Pioneer PCL stock overvalued right now?
Based on GuruFocus' analysis, Union Pioneer PCL (BKK:UPF) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿29.54, compared to a current price of ฿21.00 — trading 28.9% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Manufacturing - Apparel & Accessories industry median of 5.00. Union Pioneer PCL's overall GF Score™ is 60/100 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 Union Pioneer PCL (BKK:UPF), the current Piotroski F-Score is 3 as of Jul. 06, 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 Union Pioneer PCL (BKK:UPF) Overvalued in 2026?
Based on GuruFocus' analysis, Union Pioneer PCL stock appears to be undervalued.
The current stock price of ฿21.00 is trading 28.9% below its estimated GF Value™ of ฿29.54.
GuruFocus considers Union Pioneer PCL to be Modestly Undervalued.
Key valuation signals for BKK:UPF:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: ฿29.54 vs. price of ฿21.00 (28.9% below fair value)
Industry Position: 40% below the Manufacturing - Apparel & Accessories median (#861 of 1045)
No single metric tells the full story. See the BKK:UPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Union Pioneer PCL is principally engaged in the manufacture and distribution of finished elastic products. It offers products such as Rubber thread and tape, Elastic braid, Elastic webbing and crochet, and covering yarn, among other products. The majority of the company's products are the raw materials for other products, such as the baby-adult diaper industry, garment industry, or other uses, depending on the nature of the business of the customers. Geographically, the company derives revenue from Thailand, the United States, and other countries.
60GF Score
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