VGI PCLBKK:VGI-R 62 Piotroski F-Score is 1 as of Jun. 26, 2026, which is 80% below its 10-year median of 5.00. GuruFocus rates BKK:VGI-R with a GF Score™ of 62/100 and a GF Value™ of ฿1.00. The stock has 4 warning signs investors should review. Among 556 Conglomerates companies, VGI PCL ranks worse than 99.28% on this metric.
Warning Sign:
Piotroski F-Score of 1 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
VGI PCL has an F-score of 1. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for VGI PCL's Piotroski F-Score or its related term are showing as below:
BKK:VGI-R'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 1
During the past 13 years, the highest Piotroski F-Score of VGI PCL was 8. The lowest was 1. And the median was 5.
VGI PCL (BKK:VGI-R) 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.
VGI PCL Piotroski F-Score Related Terms
VGI PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for VGI 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:VGI-R vs HON, MMM: Piotroski F-Score Comparison
For the Conglomerates subindustry, VGI 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.
VGI PCL Piotroski F-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, VGI PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where VGI 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 44.709 + 78.709 + 83.228 + -1270.37 = ฿-1,064 Mil. Cash Flow from Operations was -67.105 + 89.704 + -155.363 + -153.944 = ฿-287 Mil. Revenue was 1043.268 + 1049.492 + 1208.54 + 1047.331 = ฿4,349 Mil. Gross Profit was 329.009 + 306.108 + 387.259 + 276.364 = ฿1,299 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(39666.287 + 39372.326 + 41759.072 + 41392.229 + 39862.118) / 5 = ฿40410.4064 Mil. Total Assets at the begining of this year (Mar25) was ฿39,666 Mil. Long-Term Debt & Capital Lease Obligation was ฿557 Mil. Total Current Assets was ฿24,680 Mil. Total Current Liabilities was ฿2,301 Mil.
Net Income was 62.761 + 78.047 + 307.749 + 52.672 = ฿501 Mil.
Revenue was 1130.099 + 1268.6 + 1369.617 + 1151.455 = ฿4,920 Mil. Gross Profit was 333.829 + 340.731 + 487.875 + 347.921 = ฿1,510 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(28109.082 + 27690.958 + 28833.946 + 40883.008 + 39666.287) / 5 = ฿33036.6562 Mil. Total Assets at the begining of last year (Mar24) was ฿28,109 Mil. Long-Term Debt & Capital Lease Obligation was ฿259 Mil. Total Current Assets was ฿24,831 Mil. Total Current Liabilities was ฿2,255 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.
VGI PCL's current Net Income (TTM) was -1,064.
==> 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.
VGI PCL's current ratio of this year was 10.7277153. VGI PCL's current ratio of last year was 11.01129091.
==> 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.
VGI PCL's number of shares in issue this year was 21093. VGI PCL's number of shares in issue last year was 20549.
==> 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.
VGI PCL's gross margin of this year was 0.29865491. VGI PCL's gross margin of last year was 0.30699722.
==> 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
VGI PCL's asset turnover of this year was 0.1096304. VGI PCL's asset turnover of last year was 0.17502425.
==> 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
VGI PCL has an F-score of 1. It is a bad or low score, which usually implies poor business operation.
VGI PCL (BKK:VGI-R) has a Piotroski F-Score of 1 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on VGI PCL and its competitors. This is 80% below median its historical median of 5.00. Over the past decade, VGI PCL's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, VGI PCL ranks #552 out of 556 companies in the Conglomerates industry, placing it in the top 99.3%.
Is VGI PCL's Piotroski F-Score too high?
VGI PCL's current Piotroski F-Score of 1 is 80% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Conglomerates industry median Piotroski F-Score is 5.00. VGI PCL's value of 1 is 80% below this industry median. Based on the distribution chart, VGI PCL ranks #552 out of 556 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, VGI PCL has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does VGI PCL's Piotroski F-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, VGI PCL ranks #552 out of 556 companies for Piotroski F-Score. This places VGI PCL in the lower half of its industry. The industry median Piotroski F-Score is 5.00. VGI PCL's value of 1 is 80% below this benchmark. Historically, VGI PCL's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, VGI 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 Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 5.00, based on 556 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. VGI PCL's current Piotroski F-Score of 1 is 80% 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 VGI PCL and its competitors. For the Conglomerates 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. VGI PCL's current Piotroski F-Score is 1, which is 80% 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 VGI PCL stock overvalued right now?
VGI PCL (BKK:VGI-R) has a current Piotroski F-Score of 1. The stock's GF Value™ is ฿1.00, compared to a current price of ฿0.83 — trading 17% below its estimated fair value. The current Piotroski F-Score is 1, which is 80% below median its 10-year median of 5.00 and 80% below the Conglomerates industry median of 5.00. VGI PCL's overall GF Score™ is 62/100 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 VGI PCL (BKK:VGI-R), the current Piotroski F-Score is 1 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 VGI PCL (BKK:VGI-R) Overvalued in 2026?
Based on GuruFocus' analysis, VGI PCL stock appears to be undervalued.
The current stock price of ฿0.83 is trading 17% below its estimated GF Value™ of ฿1.00.
Key valuation signals for BKK:VGI-R:
Piotroski F-Score: 1 (80% below median its 10-year median of 5.00)
GF Value™: ฿1.00 vs. price of ฿0.83 (17% below fair value)
Industry Position: 80% below the Conglomerates median (#552 of 556)
No single metric tells the full story. See the BKK:VGI-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VGI PCL is principally engaged in the arrangement and provision of advertising services in BTS stations, inside BTS trains, on BTS train bodies, in office buildings, and other spaces and the rental at BTS stations.is organised into business units based on the services it provides, and there are four reportable segments as follows: the Transit segment, the Digital service segment, the Distribution segment, and the Other segment. The majority of the revenue is derived from the Transit segment, which provision of advertising services in BTS stations, inside BTS trains, on BTS train bodies, on BTS Column and the rental of retail space at BTS stations. Geographically, the company operates in Thailand.
62GF Score
Get the complete analysis for BKK:VGI-R
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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