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.
Purity Flex Pack Piotroski F-Score Related Terms
Purity Flex Pack Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Purity Flex Pack'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:523315 vs SW, PKG, AMCR: Piotroski F-Score Comparison
For the Packaging & Containers subindustry, Purity Flex Pack'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.
Purity Flex Pack Piotroski F-Score vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Purity Flex Pack's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Purity Flex Pack'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.
Purity Flex Pack's current Net Income (TTM) was 23.
==> 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.
Purity Flex Pack's return on assets of this year was 0.02750954. Purity Flex Pack's return on assets of last year was 0.03530453.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Purity Flex Pack's gearing of this year was 0.10184497. Purity Flex Pack's gearing of last year was 0.08743534.
==> 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
Purity Flex Pack's current ratio of this year was 0.96160665. Purity Flex Pack's current ratio of last year was 1.06746202.
==> 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.
Purity Flex Pack's number of shares in issue this year was 3.22. Purity Flex Pack's number of shares in issue last year was 3.22.
==> 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.
Purity Flex Pack's gross margin of this year was 0.28786368. Purity Flex Pack's gross margin of last year was 0.31196893.
==> 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
Purity Flex Pack's asset turnover of this year was 1.72290094. Purity Flex Pack's asset turnover of last year was 1.67527665.
==> 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
Purity Flex Pack has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Purity Flex Pack (BOM:523315) has a Piotroski F-Score of 5 as of Jul. 08, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Purity Flex Pack and its competitors. This is 29% below median its historical median of 7.00. Over the past decade, Purity Flex Pack's Piotroski F-Score has ranged from 4.00 to 8.00.
Is Purity Flex Pack's Piotroski F-Score too high?
Purity Flex Pack'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 4.00 to a high of 8.00. The Packaging & Containers industry median Piotroski F-Score is 5.00. Purity Flex Pack's value of 5 is 0% at this industry median. Overall, Purity Flex Pack has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.
How does Purity Flex Pack's Piotroski F-Score compare to SW and PKG?
Purity Flex Pack's Piotroski F-Score of 5 can be compared against companies in the Packaging & Containers industry. The industry median Piotroski F-Score is 5.00. Purity Flex Pack's value of 5 is 0% at this benchmark. Historically, Purity Flex Pack's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Purity Flex Pack 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 Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 388 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. Purity Flex Pack'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 Purity Flex Pack and its competitors. For the Packaging & Containers 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. Purity Flex Pack'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 Purity Flex Pack stock overvalued right now?
Purity Flex Pack (BOM:523315) has a current Piotroski F-Score of 5. The stock's GF Value™ is ₹0.86, compared to a current price of ₹0.78 — trading 9.3% below 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 Packaging & Containers industry median of 5.00. Purity Flex Pack's overall GF Score™ is 43/100 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 Purity Flex Pack (BOM:523315), the current Piotroski F-Score is 5 as of Jul. 08, 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 Purity Flex Pack (BOM:523315) Overvalued in 2026?
Based on GuruFocus' analysis, Purity Flex Pack stock appears to be undervalued.
The current stock price of ₹0.78 is trading 9.3% below its estimated GF Value™ of ₹0.86.
Key valuation signals for BOM:523315:
Piotroski F-Score: 5 (29% below median its 10-year median of 7.00)
GF Value™: ₹0.86 vs. price of ₹0.78 (9.3% below fair value)
Industry Position: 0% at the Packaging & Containers median
No single metric tells the full story. See the BOM:523315 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Purity Flex Pack Ltd manufactures and sells flexible packaging solutions in India. Geographically, it derives a majority of its revenue from India. Its product portfolio includes Add-on(s); Speciality Application Pouch; Standard Pouches; and Printed/Unprinted Roll Stock. The company serves Sweets and Confectionery, Dairy and Frozen Foods, Rice, Pulses and Food Grains, Snack Foods, Spices, Salt, Tea, Tobacco, Pharmaceuticals, Personal Care and Hygiene, Contraceptives, Seeds and Fertilizer Pesticides and various other sectors. It has two geographic areas Within India and Outside India.
43GF Score
Get the complete analysis for BOM:523315
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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