Brazil Potash (BSP:GROP31) Piotroski F-Score: 4 (As of Sep. 04, 2026) — 33% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

BSP:GROP31 Brazil Potash Corp BSP:GROP31
9 GF Score
Price R$12.98
View Full Analysis

What is Brazil Potash Piotroski F-Score?

Brazil Potash BSP:GROP31 +1.41% 9 Piotroski F-Score is 4 as of Sep. 04, 2026, which is 33% above its 10-year median of 3.00. GuruFocus rates BSP:GROP31 with a GF Score™ of 9/100. Among 2,515 Metals & Mining companies, Brazil Potash ranks better than 77.38% 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

Brazil Potash has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Brazil Potash's Piotroski F-Score or its related term are showing as below:

BSP:GROP31' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 4
Current: 4

During the past 5 years, the highest Piotroski F-Score of Brazil Potash was 4. The lowest was 2. And the median was 3.

Brazil Potash  (BSP:GROP31) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Brazil Potash Piotroski F-Score Related Terms


Brazil Potash Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Brazil Potash'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.

Brazil Potash Piotroski F-Score Chart

Brazil Potash Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A N/A N/A 3.00

Brazil Potash Quarterly Data
Dec21 Dec22 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 N/A 3.00 N/A 4.00

BSP:GROP31 vs COBA, USGO, ATLX: Piotroski F-Score Comparison

For the Other Industrial Metals & Mining subindustry, Brazil Potash'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.


Brazil Potash Piotroski F-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Brazil Potash's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Brazil Potash's Piotroski F-Score falls into.


BSP:GROP31
9GF Score
Brazil Potash Corp BSP:GROP31
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Net Income was -64.018 + -38.119 + -87.988 + 38.964 = R$-151.16 Mil.
Cash Flow from Operations was -16.92 + -23.629 + -15.307 + -11.212 = R$-67.07 Mil.
Revenue was 0 + 0 + 0 + 0 = R$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = R$0.00 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(809.992 + 813.304 + 922.275 + 890.088 + 1166.583) / 5 = R$920.4484 Mil.
Total Assets at the begining of this year (Jun25) was R$809.99 Mil.
Long-Term Debt & Capital Lease Obligation was R$1.97 Mil.
Total Current Assets was R$391.58 Mil.
Total Current Liabilities was R$9.28 Mil.
Net Income was -67.633 + -130.775 + -105.955 + -82.261 = R$-386.62 Mil.

Revenue was 0 + 0 + 0 + 0 = R$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = R$0.00 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(665.151 + 698.156 + 860.577 + 827.399 + 809.992) / 5 = R$772.255 Mil.
Total Assets at the begining of last year (Jun24) was R$665.15 Mil.
Long-Term Debt & Capital Lease Obligation was R$3.41 Mil.
Total Current Assets was R$54.30 Mil.
Total Current Liabilities was R$17.59 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.

Brazil Potash's current Net Income (TTM) was -151.16. ==> 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.

Score 1 if positive, 0 if negative.

Brazil Potash's current Cash Flow from Operations (TTM) was -67.07. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun25)
=-151.161/809.992
=-0.18662036

ROA (Last Year)=Net Income/Total Assets (Jun24)
=-386.624/665.151
=-0.58125749

Brazil Potash's return on assets of this year was -0.18662036. Brazil Potash's return on assets of last year was -0.58125749. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Brazil Potash's current Net Income (TTM) was -151.16. Brazil Potash's current Cash Flow from Operations (TTM) was -67.07. ==> -67.07 > -151.16 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun25 to Jun26
=1.973/920.4484
=0.00214352

Gearing (Last Year: Jun25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun24 to Jun25
=3.411/772.255
=0.00441693

Brazil Potash's gearing of this year was 0.00214352. Brazil Potash's gearing of last year was 0.00441693. ==> 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

Current Ratio (This Year: Jun26)=Total Current Assets/Total Current Liabilities
=391.584/9.28
=42.19655172

Current Ratio (Last Year: Jun25)=Total Current Assets/Total Current Liabilities
=54.299/17.591
=3.08674891

Brazil Potash's current ratio of this year was 42.19655172. Brazil Potash's current ratio of last year was 3.08674891. ==> 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.

Brazil Potash's number of shares in issue this year was 82.313. Brazil Potash's number of shares in issue last year was 38.441. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=0/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0/0
=

Brazil Potash's gross margin of this year was . Brazil Potash'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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun25)
=0/809.992
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun24)
=0/665.151
=0

Brazil Potash's asset turnover of this year was 0. Brazil Potash's asset turnover of last year was 0. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+1+1+1+1+0+0+0
=4

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Brazil Potash has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
Brazil Potash (BSP:GROP31) has a Piotroski F-Score of 4 as of Sep. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Brazil Potash and its competitors. This is 33% above median its historical median of 3.00. Over the past decade, Brazil Potash's Piotroski F-Score has ranged from 2.00 to 4.00. According to the industry distribution chart, Brazil Potash ranks #569 out of 2515 companies in the Metals & Mining industry, placing it in the top 22.6%.
Is Brazil Potash's Piotroski F-Score too high?
Brazil Potash's current Piotroski F-Score of 4 is 33% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 4.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Brazil Potash's value of 4 is 33.3% above this industry median. Based on the distribution chart, Brazil Potash ranks #569 out of 2515 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Brazil Potash has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Brazil Potash's Piotroski F-Score compare to COBA and USGO?
According to the Metals & Mining industry distribution chart, Brazil Potash ranks #569 out of 2515 companies for Piotroski F-Score. This places Brazil Potash in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Brazil Potash's value of 4 is 33.3% above this benchmark. Historically, Brazil Potash's own Piotroski F-Score has ranged from 2.00 to 4.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 3.00, Brazil Potash 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,515 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. Brazil Potash's current Piotroski F-Score of 4 is 33.3% 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 Brazil Potash and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Brazil Potash's current Piotroski F-Score is 4, which is 33% above median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Brazil Potash stock overvalued right now?
Brazil Potash (BSP:GROP31) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 33% above median its 10-year median of 3.00 and 33.3% above the Metals & Mining industry median of 3.00. Brazil Potash's overall GF Score™ is 9/100. 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 Brazil Potash (BSP:GROP31), the current Piotroski F-Score is 4 as of Sep. 04, 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.

Brazil Potash Business Description

Other Exchanges GRO:USA
Address 198 Davenport Road, Toronto, ON, CAN, M5R 1J2
Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company's technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.
9GF Score

Get the complete analysis for BSP:GROP31

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$12.98
Price