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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Bheema Cements Piotroski F-Score Related Terms
Bheema Cements Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Bheema Cements'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.
BOM:518017 vs CRH, VMC, MLM: Piotroski F-Score Comparison
For the Building Materials subindustry, Bheema Cements'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.
Bheema Cements Piotroski F-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Bheema Cements's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bheema Cements'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.
Bheema Cements's current Net Income (TTM) was -301.00.
==> 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.
Bheema Cements's return on assets of this year was -0.11353416. Bheema Cements's return on assets of last year was -0.1147563.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Bheema Cements's current ratio of this year was 0.06215542. Bheema Cements's current ratio of last year was 0.06254526.
==> 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.
Bheema Cements's number of shares in issue this year was 32.61. Bheema Cements's number of shares in issue last year was 32.61.
==> 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.
Bheema Cements's gross margin of this year was . Bheema Cements's gross margin of last year was .
==> 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
Bheema Cements's asset turnover of this year was 0. Bheema Cements's asset turnover of last year was 0.
==> 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
Bheema Cements has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Bheema Cements (BOM:518017) has a Piotroski F-Score of 5 as of Jul. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bheema Cements and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, Bheema Cements' Piotroski F-Score has ranged from 2.00 to 5.00.
Is Bheema Cements' Piotroski F-Score too high?
Bheema Cements' current Piotroski F-Score of 5 is 25% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.00. The Building Materials industry median Piotroski F-Score is 5.00. Bheema Cements' value of 5 is 0% at this industry median. Overall, Bheema Cements has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Bheema Cements' Piotroski F-Score compare to CRH and VMC?
Bheema Cements' Piotroski F-Score of 5 can be compared against companies in the Building Materials industry. The industry median Piotroski F-Score is 5.00. Bheema Cements' value of 5 is 0% at this benchmark. Historically, Bheema Cements' own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Bheema Cements 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 Building Materials company?
The median Piotroski F-Score among Building Materials companies is 5.00, based on 394 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. Bheema Cements'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 Bheema Cements and its competitors. For the Building Materials 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. Bheema Cements's current Piotroski F-Score is 5, which is 25% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bheema Cements stock overvalued right now?
Bheema Cements (BOM:518017) has a current Piotroski F-Score of 5. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Building Materials industry median of 5.00. Bheema Cements' overall GF Score™ is 19/100. 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 Bheema Cements (BOM:518017), the current Piotroski F-Score is 5 as of Jul. 13, 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.
Bheema Cements Ltd is an Indian based company engaged in manufacturing and sale of Cement. Its products include Portland cement, aluminous cement, slag cement, supersulphate cement and similar hydraulic cements. In the Indian market, the company operates through a network of dealers and agents to sell its products. Geographically, the company's operations are located in India.
19GF Score
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