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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Max Earth Resources has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Max Earth Resources's Piotroski F-Score or its related term are showing as below:
BOM:534563'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 6
Current: 5
During the past 13 years, the highest Piotroski F-Score of Max Earth Resources was 6. The lowest was 1. And the median was 5.
Max Earth Resources (BOM:534563) 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.
Max Earth Resources Piotroski F-Score Related Terms
Max Earth Resources Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Max Earth Resources'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:534563 vs CRH, VMC, MLM: Piotroski F-Score Comparison
For the Building Materials subindustry, Max Earth Resources'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.
Max Earth Resources Piotroski F-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Max Earth Resources's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Max Earth Resources'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.
Max Earth Resources's current Net Income (TTM) was 55.2.
==> 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.
Max Earth Resources's return on assets of this year was 0.85114916. Max Earth Resources's return on assets of last year was 2.60091339.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Max Earth Resources's gearing of this year was 0. Max Earth Resources's gearing of last year was 0.
==> This year is lower or equal to last year. ==> Score 1.
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
Max Earth Resources's current ratio of this year was 8.49147727. Max Earth Resources's current ratio of last year was 5.9361089.
==> 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.
Max Earth Resources's number of shares in issue this year was 0.92. Max Earth Resources's number of shares in issue last year was 0.92.
==> 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.
Max Earth Resources's gross margin of this year was 0.1271953. Max Earth Resources's gross margin of last year was 0.10131485.
==> This year's gross margin is higher. ==> Score 1.
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
Max Earth Resources's asset turnover of this year was 3.59310504. Max Earth Resources's asset turnover of last year was 11.68752504.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Max Earth Resources has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Max Earth Resources (BOM:534563) has a Piotroski F-Score of 5 as of Jul. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Max Earth Resources and its competitors. This is near median its historical median of 5.00. Over the past decade, Max Earth Resources' Piotroski F-Score has ranged from 1.00 to 6.00.
Is Max Earth Resources' Piotroski F-Score too high?
Max Earth Resources' current Piotroski F-Score of 5 is near 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 6.00. The Building Materials industry median Piotroski F-Score is 5.00. Max Earth Resources' value of 5 is 0% at this industry median. Overall, Max Earth Resources has a GF Score™ of 6/100, reflecting its overall financial health beyond just this single metric.
How does Max Earth Resources' Piotroski F-Score compare to CRH and VMC?
Max Earth Resources' Piotroski F-Score of 5 can be compared against companies in the Building Materials industry. The industry median Piotroski F-Score is 5.00. Max Earth Resources' value of 5 is 0% at this benchmark. Historically, Max Earth Resources' own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Max Earth Resources 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 392 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. Max Earth Resources'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 Max Earth Resources 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. Max Earth Resources's current Piotroski F-Score is 5, which is near 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 Max Earth Resources stock overvalued right now?
Max Earth Resources (BOM:534563) has a current Piotroski F-Score of 5. The stock's GF Value™ is ₹26.95, compared to a current price of ₹44.50 — trading 65.1% above its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Building Materials industry median of 5.00. Max Earth Resources' overall GF Score™ is 6/100 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 Max Earth Resources (BOM:534563), the current Piotroski F-Score is 5 as of Jul. 24, 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 Max Earth Resources (BOM:534563) Overvalued in 2026?
Based on GuruFocus' analysis, Max Earth Resources stock appears to be overvalued.
The current stock price of ₹44.50 is trading 65.1% above its estimated GF Value™ of ₹26.95.
Key valuation signals for BOM:534563:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: ₹26.95 vs. price of ₹44.50 (65.1% above fair value)
Industry Position: 0% at the Building Materials median
No single metric tells the full story. See the BOM:534563 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Max Earth Resources Ltd is a dynamic company specializing in stone crushing, mining, and turnkey solutions for the telecommunications sector. It has operations across Jharkhand, Maharashtra, Odisha, and Kerala.
6GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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