Mutandis SCA (CAS:MUT) Piotroski F-Score: 5 (As of Jun. 26, 2026) — 17% Below Median


CAS:MUT Mutandis SCA CAS:MUT
85 GF Score
Price MAD235.00
GF Value MAD247.27
Valuation Fairly Valued
! 7 Warning Signs
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What is Mutandis SCA Piotroski F-Score?

Mutandis SCA CAS:MUT +0.41% 85 Piotroski F-Score is 5 as of Jun. 26, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates CAS:MUT with a GF Score™ of 85/100 and a GF Value™ of MAD247.27 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, Mutandis SCA ranks better than 52.07% 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

Mutandis SCA 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 Mutandis SCA's Piotroski F-Score or its related term are showing as below:

CAS:MUT' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 9
Current: 5

During the past 12 years, the highest Piotroski F-Score of Mutandis SCA was 9. The lowest was 5. And the median was 6.

Mutandis SCA  (CAS:MUT) 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.


Mutandis SCA Piotroski F-Score Related Terms


Mutandis SCA Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Mutandis SCA'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.

Mutandis SCA Piotroski F-Score Chart

Mutandis SCA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 7.00 5.00

Mutandis SCA Semi-Annual Data
Dec15 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 0.00 7.00 0.00 5.00

CAS:MUT vs KHC, GIS, JBS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Mutandis SCA'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.


Mutandis SCA Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Mutandis SCA's Piotroski F-Score distribution charts can be found below:

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


CAS:MUT
85GF Score
Mutandis SCA CAS:MUT
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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was MAD126 Mil.
Cash Flow from Operations was MAD263 Mil.
Revenue was MAD2,022 Mil.
Gross Profit was MAD822 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (3702.79 + 3382.884) / 2 = MAD3542.837 Mil.
Total Assets at the begining of this year (Dec24) was MAD3,703 Mil.
Long-Term Debt & Capital Lease Obligation was MAD932 Mil.
Total Current Assets was MAD926 Mil.
Total Current Liabilities was MAD825 Mil.
Net Income was MAD159 Mil.

Revenue was MAD2,117 Mil.
Gross Profit was MAD927 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (3429.15 + 3702.79) / 2 = MAD3565.97 Mil.
Total Assets at the begining of last year (Dec23) was MAD3,429 Mil.
Long-Term Debt & Capital Lease Obligation was MAD1,111 Mil.
Total Current Assets was MAD1,312 Mil.
Total Current Liabilities was MAD942 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.

Mutandis SCA's current Net Income (TTM) was 126. ==> 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.

Score 1 if positive, 0 if negative.

Mutandis SCA's current Cash Flow from Operations (TTM) was 263. ==> Positive ==> Score 1.

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 (Dec24)
=126.161/3702.79
=0.03407188

ROA (Last Year)=Net Income/Total Assets (Dec23)
=159.408/3429.15
=0.04648616

Mutandis SCA's return on assets of this year was 0.03407188. Mutandis SCA's return on assets of last year was 0.04648616. ==> Last year is higher ==> Score 0.

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.

Mutandis SCA's current Net Income (TTM) was 126. Mutandis SCA's current Cash Flow from Operations (TTM) was 263. ==> 263 > 126 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=931.815/3542.837
=0.26301379

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1111.265/3565.97
=0.3116305

Mutandis SCA's gearing of this year was 0.26301379. Mutandis SCA's gearing of last year was 0.3116305. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=925.826/824.916
=1.12232761

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=1312.062/942.244
=1.39248645

Mutandis SCA's current ratio of this year was 1.12232761. Mutandis SCA's current ratio of last year was 1.39248645. ==> 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.

Mutandis SCA's number of shares in issue this year was 0. Mutandis SCA's number of shares in issue last year was 9.247. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=822.397/2021.823
=0.40676014

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=926.747/2116.549
=0.43785757

Mutandis SCA's gross margin of this year was 0.40676014. Mutandis SCA's gross margin of last year was 0.43785757. ==> 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 (Dec24)
=2021.823/3702.79
=0.54602691

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=2116.549/3429.15
=0.61722264

Mutandis SCA's asset turnover of this year was 0.54602691. Mutandis SCA's asset turnover of last year was 0.61722264. ==> 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
=1+1+0+1+1+0+1+0+0
=5

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

Mutandis SCA has an F-score of 5 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 5 mean?
Mutandis SCA (CAS:MUT) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Mutandis SCA and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Mutandis SCA's Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Mutandis SCA ranks #916 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 47.9%.
Is Mutandis SCA's Piotroski F-Score too high?
Mutandis SCA's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Mutandis SCA's value of 5 is 0% at this industry median. Based on the distribution chart, Mutandis SCA ranks #916 out of 1911 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Mutandis SCA has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mutandis SCA's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Mutandis SCA ranks #916 out of 1911 companies for Piotroski F-Score. This puts Mutandis SCA in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Mutandis SCA's value of 5 is 0% at this benchmark. Historically, Mutandis SCA's own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Mutandis SCA 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,911 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. Mutandis SCA'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 Mutandis SCA and its competitors. For the Consumer Packaged Goods 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. Mutandis SCA's current Piotroski F-Score is 5, which is 17% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutandis SCA stock overvalued right now?
Based on GuruFocus' analysis, Mutandis SCA (CAS:MUT) is currently considered Fairly Valued. The stock's GF Value™ is MAD247.27, compared to a current price of MAD235.00 — trading 5% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Consumer Packaged Goods industry median of 5.00. Mutandis SCA's overall GF Score™ is 85/100 with 7 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 Mutandis SCA (CAS:MUT), the current Piotroski F-Score is 5 as of Jun. 26, 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 Mutandis SCA (CAS:MUT) Overvalued in 2026?

Based on GuruFocus' analysis, Mutandis SCA stock appears to be undervalued. The current stock price of MAD235.00 is trading 5% below its estimated GF Value™ of MAD247.27. GuruFocus considers Mutandis SCA to be Fairly Valued.

Key valuation signals for CAS:MUT:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: MAD247.27 vs. price of MAD235.00 (5% below fair value)
  • GF Score™: 85/100 with 7 warning signs
  • Industry Position: 0% at the Consumer Packaged Goods median (#916 of 1911)

No single metric tells the full story. See the CAS:MUT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mutandis SCA Business Description

Address 22 Boulevard Abdelkrim Khattabi, Casablanca, MAR, 20100
Mutandis SCA is an industrial and commercial group specializing in consumer goods, pursuing its brand development in Morocco and Africa. Its product categories are AGRI-FOOD and Cleaning Products. The company's products include Seafood products, Fruit Juices, Food Bottles, and Detergents. Mutandis exports its products to more than 40 countries.
85GF Score

Get the complete analysis for CAS:MUT

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

MAD235.00
Price
MAD247.27
GF Value