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Kohinoor Chemical Co (Bangladesh) (DHA:KOHINOOR) 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.
Kohinoor Chemical Co (Bangladesh) Piotroski F-Score Related Terms
Kohinoor Chemical Co (Bangladesh) Piotroski F-Score Historical Data
* 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.
Kohinoor Chemical Co (Bangladesh) Piotroski F-Score Chart
DHA:KOHINOOR vs PG, CL, KVUE: Piotroski F-Score Comparison
For the Household & Personal Products subindustry, Kohinoor Chemical Co (Bangladesh)'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.
Kohinoor Chemical Co (Bangladesh) Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Kohinoor Chemical Co (Bangladesh)'s Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kohinoor Chemical Co (Bangladesh)'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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 208.428 + 167.024 + 163.118 + 170.436 = BDT709 Mil. Cash Flow from Operations was -277.722 + 277.547 + 182.473 + 274.58 = BDT457 Mil. Revenue was 1680.446 + 1765.551 + 1888.914 + 1745.755 = BDT7,081 Mil. Gross Profit was 534.612 + 457.529 + 475.363 + 481.891 = BDT1,949 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(3605.777 + 3432.3 + 4164.02 + 4506.294 + 4382.161) / 5 = BDT4018.1104 Mil. Total Assets at the begining of this year (Mar25) was BDT3,606 Mil. Long-Term Debt & Capital Lease Obligation was BDT331 Mil. Total Current Assets was BDT4,053 Mil. Total Current Liabilities was BDT1,356 Mil.
Net Income was 179.632 + 125.132 + 129.645 + 168.813 = BDT603 Mil.
Revenue was 1136.813 + 1581.602 + 1634.864 + 1572.829 = BDT5,926 Mil. Gross Profit was 510.31 + 372.914 + 427.112 + 492.854 = BDT1,803 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(3604.422 + 2961.789 + 3352.832 + 3517.644 + 3605.777) / 5 = BDT3408.4928 Mil. Total Assets at the begining of last year (Mar24) was BDT3,604 Mil. Long-Term Debt & Capital Lease Obligation was BDT330 Mil. Total Current Assets was BDT3,298 Mil. Total Current Liabilities was BDT997 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.
Kohinoor Chemical Co (Bangladesh)'s current Net Income (TTM) was 709.
==> 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.
Kohinoor Chemical Co (Bangladesh)'s current Cash Flow from Operations (TTM) was 457.
==> 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.
Kohinoor Chemical Co (Bangladesh)'s return on assets of this year was 0.19663057. Kohinoor Chemical Co (Bangladesh)'s return on assets of last year was 0.1673561.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Kohinoor Chemical Co (Bangladesh)'s gearing of this year was 0.0823723. Kohinoor Chemical Co (Bangladesh)'s gearing of last year was 0.09678002.
==> 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
Kohinoor Chemical Co (Bangladesh)'s current ratio of this year was 2.98807407. Kohinoor Chemical Co (Bangladesh)'s current ratio of last year was 3.30775263.
==> 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.
Kohinoor Chemical Co (Bangladesh)'s number of shares in issue this year was 40.774. Kohinoor Chemical Co (Bangladesh)'s number of shares in issue last year was 38.245.
==> 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.
Kohinoor Chemical Co (Bangladesh)'s gross margin of this year was 0.27531238. Kohinoor Chemical Co (Bangladesh)'s gross margin of last year was 0.30427896.
==> 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
Kohinoor Chemical Co (Bangladesh)'s asset turnover of this year was 1.96370047. Kohinoor Chemical Co (Bangladesh)'s asset turnover of last year was 1.64412158.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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1
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kohinoor Chemical Co (Bangladesh) has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Kohinoor Chemical Co (Bangladesh) (DHA:KOHINOOR) has a Piotroski F-Score of 5 as of Aug. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Kohinoor Chemical Co (Bangladesh) and its competitors. This is 29% below median its historical median of 7.00. Over the past decade, Kohinoor Chemical Co (Bangladesh)'s Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Kohinoor Chemical Co (Bangladesh) ranks #931 out of 1908 companies in the Consumer Packaged Goods industry, placing it in the top 48.8%.
Is Kohinoor Chemical Co (Bangladesh)'s Piotroski F-Score too high?
Kohinoor Chemical Co (Bangladesh)'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 3.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Kohinoor Chemical Co (Bangladesh)'s value of 5 is 0% at this industry median. Based on the distribution chart, Kohinoor Chemical Co (Bangladesh) ranks #931 out of 1908 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Kohinoor Chemical Co (Bangladesh) has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Kohinoor Chemical Co (Bangladesh)'s Piotroski F-Score compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Kohinoor Chemical Co (Bangladesh) ranks #931 out of 1908 companies for Piotroski F-Score. This puts Kohinoor Chemical Co (Bangladesh) in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Kohinoor Chemical Co (Bangladesh)'s value of 5 is 0% at this benchmark. Historically, Kohinoor Chemical Co (Bangladesh)'s own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Kohinoor Chemical Co (Bangladesh) 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 1,908 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. Kohinoor Chemical Co (Bangladesh)'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 Kohinoor Chemical Co (Bangladesh) 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. Kohinoor Chemical Co (Bangladesh)'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 Kohinoor Chemical Co (Bangladesh) stock overvalued right now?
Based on GuruFocus' analysis, Kohinoor Chemical Co (Bangladesh) (DHA:KOHINOOR) is currently considered Fairly Valued. The stock's GF Value™ is BDT555.01, compared to a current price of BDT555.40 — trading 0.1% above 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 Consumer Packaged Goods industry median of 5.00. Kohinoor Chemical Co (Bangladesh)'s overall GF Score™ is 91/100 with 1 warning sign 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 Kohinoor Chemical Co (Bangladesh) (DHA:KOHINOOR), the current Piotroski F-Score is 5 as of Aug. 09, 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 Kohinoor Chemical Co (Bangladesh) (DHA:KOHINOOR) Overvalued in 2026?
Based on GuruFocus' analysis, Kohinoor Chemical Co (Bangladesh) stock appears to be overvalued.
The current stock price of BDT555.40 is trading 0.1% above its estimated GF Value™ of BDT555.01.
GuruFocus considers Kohinoor Chemical Co (Bangladesh) to be Fairly Valued.
Key valuation signals for DHA:KOHINOOR:
Piotroski F-Score: 5 (29% below median its 10-year median of 7.00)
GF Value™: BDT555.01 vs. price of BDT555.40 (0.1% above fair value)
Industry Position: 0% at the Consumer Packaged Goods median (#931 of 1908)
No single metric tells the full story. See the DHA:KOHINOOR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kohinoor Chemical Co (Bangladesh) PLC, formerly known as Kohinoor Chemicals Co (Bangladesh) Ltd, is engaged in manufacturing and marketing of soap, cosmetics, and toiletries. Its products include shaving cream, hair oil, toilet cleaner, toothpaste, and dishwasher powder, perfumery and Fabric care. It operates in a single market segment being consumer goods market within and outside the territory of Bangladesh. Its products are categorized under three product lines: Toiletries Products; Cosmetics Products and Miscellaneous Products.
91GF Score
Get the complete analysis for DHA:KOHINOOR
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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