Golden Agri-ResourcesFRA:4G3A +1.86%54 Piotroski F-Score is 6 as of Jul. 03, 2026, which is at its 10-year median of 6.00. GuruFocus rates FRA:4G3A with a GF Score™ of 54/100 and a GF Value™ of €0.16 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,909 Consumer Packaged Goods companies, Golden Agri-Resources ranks better than 73.34% 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
Golden Agri-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 Golden Agri-Resources's Piotroski F-Score or its related term are showing as below:
FRA:4G3A'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of Golden Agri-Resources was 9. The lowest was 5. And the median was 6.
Golden Agri-Resources (FRA:4G3A) 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.
Golden Agri-Resources Piotroski F-Score Related Terms
Golden Agri-Resources Piotroski F-Score Historical Data
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The historical data trend for Golden Agri-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.
FRA:4G3A vs ADM, BG, TSN: Piotroski F-Score Comparison
For the Farm Products subindustry, Golden Agri-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.
Golden Agri-Resources Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Golden Agri-Resources's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Golden Agri-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.
Golden Agri-Resources's current Net Income (TTM) was 342.
==> 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.
Golden Agri-Resources's current Cash Flow from Operations (TTM) was 1,002.
==> 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.
Golden Agri-Resources's return on assets of this year was 0.03346685. Golden Agri-Resources's return on assets of last year was 0.03907365.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Golden Agri-Resources's gearing of this year was 0.1278268. Golden Agri-Resources's gearing of last year was 0.17322508.
==> 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
Golden Agri-Resources's current ratio of this year was 1.39735471. Golden Agri-Resources's current ratio of last year was 1.4498817.
==> 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.
Golden Agri-Resources's number of shares in issue this year was 12681.673. Golden Agri-Resources's number of shares in issue last year was 12681.673.
==> 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.
Golden Agri-Resources's gross margin of this year was 0.14667257. Golden Agri-Resources's gross margin of last year was 0.18813466.
==> 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
Golden Agri-Resources's asset turnover of this year was 1.08307699. Golden Agri-Resources's asset turnover of last year was 1.16933331.
==> 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
Golden Agri-Resources has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Golden Agri-Resources (FRA:4G3A) has a Piotroski F-Score of 6 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Golden Agri-Resources and its competitors. This is near median its historical median of 6.00. Over the past decade, Golden Agri-Resources' Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Golden Agri-Resources ranks #509 out of 1909 companies in the Consumer Packaged Goods industry, placing it in the top 26.7%.
Is Golden Agri-Resources' Piotroski F-Score too high?
Golden Agri-Resources' current Piotroski F-Score of 6 is near 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. Golden Agri-Resources' value of 6 is 20% above this industry median. Based on the distribution chart, Golden Agri-Resources ranks #509 out of 1909 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Golden Agri-Resources has a GF Score™ of 54/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Golden Agri-Resources' Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Golden Agri-Resources ranks #509 out of 1909 companies for Piotroski F-Score. This puts Golden Agri-Resources in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Golden Agri-Resources' value of 6 is 20% above this benchmark. Historically, Golden Agri-Resources' 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, Golden Agri-Resources 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,909 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. Golden Agri-Resources'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 Golden Agri-Resources 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. Golden Agri-Resources's current Piotroski F-Score is 6, which is near 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 Golden Agri-Resources stock overvalued right now?
Based on GuruFocus' analysis, Golden Agri-Resources (FRA:4G3A) is currently considered Fairly Valued. The stock's GF Value™ is €0.16, compared to a current price of €0.16 — trading 2.5% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Consumer Packaged Goods industry median of 5.00. Golden Agri-Resources' overall GF Score™ is 54/100 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 Golden Agri-Resources (FRA:4G3A), the current Piotroski F-Score is 6 as of Jul. 03, 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 Golden Agri-Resources (FRA:4G3A) Overvalued in 2026?
Based on GuruFocus' analysis, Golden Agri-Resources stock appears to be overvalued.
The current stock price of €0.16 is trading 2.5% above its estimated GF Value™ of €0.16.
GuruFocus considers Golden Agri-Resources to be Fairly Valued.
Key valuation signals for FRA:4G3A:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: €0.16 vs. price of €0.16 (2.5% above fair value)
Industry Position: 20% above the Consumer Packaged Goods median (#509 of 1909)
No single metric tells the full story. See the FRA:4G3A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Golden Agri-Resources Ltd is an integrated palm oil plantation in Indonesia with estates spanning from east to west across the archipelago. The company markets its products in bulk, industrial and branded form, domestically as well as in international markets. In addition to its main palm-based products, it processes and markets soybean and sunflower oil-based products, especially in China and India, as well as operate sugar trading business. It operates in two segments namely Plantations and palm oil mills - comprises the products from upstream business; Palm, laurics and others - refers to the processing and merchandising of palm and oilseed-based products comprising bulk and branded products, oleochemicals, sugar and other vegetable oils.
54GF Score
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