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Three M Paper BoardsBOM:544214 -1.80%29 Piotroski F-Score is 6 as of Aug. 23, 2026, which is 14% below its 10-year median of 7.00. GuruFocus rates BOM:544214 with a GF Score™ of 29/100. The stock has 6 warning signs investors should review. Among 282 Forest Products companies, Three M Paper Boards ranks better than 76.95% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Three M Paper Boards has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Three M Paper Boards's Piotroski F-Score or its related term are showing as below:
BOM:544214'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 6
During the past 6 years, the highest Piotroski F-Score of Three M Paper Boards was 8. The lowest was 5. And the median was 7.
Three M Paper Boards (BOM:544214) 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.
Three M Paper Boards Piotroski F-Score Related Terms
Three M Paper Boards Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Three M Paper Boards'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.
Three M Paper Boards Piotroski F-Score Competitor Comparison
For the Paper & Paper Products subindustry, Three M Paper Boards'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.
Three M Paper Boards Piotroski F-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Three M Paper Boards's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Three M Paper Boards'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.
Three M Paper Boards's current Net Income (TTM) was 72.
==> 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.
Three M Paper Boards's return on assets of this year was 0.02979835. Three M Paper Boards's return on assets of last year was 0.05119445.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Three M Paper Boards's gearing of this year was 0.08237812. Three M Paper Boards's gearing of last year was 0.1090839.
==> 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
Three M Paper Boards's current ratio of this year was 1.20552898. Three M Paper Boards's current ratio of last year was 1.31059142.
==> 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.
Three M Paper Boards's number of shares in issue this year was 19.222. Three M Paper Boards's number of shares in issue last year was 19.255.
==> 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.
Three M Paper Boards's gross margin of this year was 0.38044512. Three M Paper Boards's gross margin of last year was 0.36688584.
==> 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
Three M Paper Boards's asset turnover of this year was 1.23513303. Three M Paper Boards's asset turnover of last year was 1.3603258.
==> 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
Three M Paper Boards has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Three M Paper Boards (BOM:544214) has a Piotroski F-Score of 6 as of Aug. 23, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Three M Paper Boards and its competitors. This is 14% below median its historical median of 7.00. Over the past decade, Three M Paper Boards' Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Three M Paper Boards ranks #65 out of 282 companies in the Forest Products industry, placing it in the top 23%.
Is Three M Paper Boards' Piotroski F-Score too high?
Three M Paper Boards' current Piotroski F-Score of 6 is 14% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Forest Products industry median Piotroski F-Score is 5.00. Three M Paper Boards' value of 6 is 20% above this industry median. Based on the distribution chart, Three M Paper Boards ranks #65 out of 282 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Three M Paper Boards has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Three M Paper Boards' Piotroski F-Score compare to competitors?
According to the Forest Products industry distribution chart, Three M Paper Boards ranks #65 out of 282 companies for Piotroski F-Score. This places Three M Paper Boards in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Three M Paper Boards' value of 6 is 20% above this benchmark. Historically, Three M Paper Boards' own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Three M Paper Boards has consistently been above 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 Forest Products company?
The median Piotroski F-Score among Forest Products companies is 5.00, based on 282 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. Three M Paper Boards's current Piotroski F-Score of 6 is 20% above 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 Three M Paper Boards and its competitors. For the Forest Products 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. Three M Paper Boards's current Piotroski F-Score is 6, which is 14% 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 Three M Paper Boards stock overvalued right now?
Three M Paper Boards (BOM:544214) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 14% below median its 10-year median of 7.00 and 20% above the Forest Products industry median of 5.00. Three M Paper Boards' overall GF Score™ is 29/100 with 6 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 Three M Paper Boards (BOM:544214), the current Piotroski F-Score is 6 as of Aug. 23, 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.
Three M Paper Boards Ltd is engaged in the business of manufacturing recycled paper-based Duplex Board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies. The products are made out of recycled waste paper and are completely biodegradable. Its products include Royal WB, Royal GB, and Prima GB. The company is also engaged in the activity of generation of Wind Energy.
29GF Score
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