GPAGF (GrumaB de CV) Piotroski F-Score: 6 (As of Jun. 26, 2026) — Near Median


GPAGF Gruma SAB de CV GPAGF
88 GF Score
Price $18.10
GF Value $19.21
Valuation Fairly Valued
! 1 Warning Sign
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What is GrumaB de CV Piotroski F-Score?

GrumaB de CV GPAGF 88 Piotroski F-Score is 6 as of Jun. 26, 2026, which is at its 10-year median of 6.00. GuruFocus rates GPAGF with a GF Score™ of 88/100 and a GF Value™ of $19.21 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,912 Consumer Packaged Goods companies, GrumaB de CV ranks better than 73.27% 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

GrumaB de CV has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

GPAGF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of GrumaB de CV was 8. The lowest was 3. And the median was 6.

GrumaB de CV  (OTCPK:GPAGF) 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.


GrumaB de CV Piotroski F-Score Related Terms


GrumaB de CV Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for GrumaB de CV'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.

GrumaB de CV Piotroski F-Score Chart

GrumaB de CV 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 4.00 7.00 8.00 6.00

GrumaB de CV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 8.00 8.00 7.00 6.00 6.00

GPAGF vs KHC, GIS, JBS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, GrumaB de CV'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.


GrumaB de CV Piotroski F-Score vs Consumer Packaged Goods Industry

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

* The bar in red indicates where GrumaB de CV's Piotroski F-Score falls into.


GPAGF
88GF Score
Gruma SAB de CV GPAGF
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 134.089 + 132.633 + 126.625 + 100.643 = $494 Mil.
Cash Flow from Operations was 170.587 + 330.553 + 173.003 + 146.698 = $821 Mil.
Revenue was 1600.727 + 1635.621 + 1589.766 + 1624.728 = $6,451 Mil.
Gross Profit was 630.659 + 643.367 + 602.697 + 628.762 = $2,505 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(4728.185 + 4940.659 + 5017.628 + 5055.731 + 5086.556) / 5 = $4965.7518 Mil.
Total Assets at the begining of this year (Mar25) was $4,728 Mil.
Long-Term Debt & Capital Lease Obligation was $1,656 Mil.
Total Current Assets was $2,372 Mil.
Total Current Liabilities was $824 Mil.
Net Income was 136.88 + 128.679 + 155.367 + 125.924 = $547 Mil.

Revenue was 1660.904 + 1623.438 + 1555.306 + 1548.509 = $6,388 Mil.
Gross Profit was 633.349 + 640.208 + 610.826 + 615.93 = $2,500 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(4854.734 + 4854.815 + 4747.233 + 4497.117 + 4728.185) / 5 = $4736.4168 Mil.
Total Assets at the begining of last year (Mar24) was $4,855 Mil.
Long-Term Debt & Capital Lease Obligation was $1,615 Mil.
Total Current Assets was $2,219 Mil.
Total Current Liabilities was $847 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.

GrumaB de CV's current Net Income (TTM) was 494. ==> 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.

GrumaB de CV's current Cash Flow from Operations (TTM) was 821. ==> 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 (Mar25)
=493.99/4728.185
=0.10447772

ROA (Last Year)=Net Income/Total Assets (Mar24)
=546.85/4854.734
=0.11264263

GrumaB de CV's return on assets of this year was 0.10447772. GrumaB de CV's return on assets of last year was 0.11264263. ==> 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.

GrumaB de CV's current Net Income (TTM) was 494. GrumaB de CV's current Cash Flow from Operations (TTM) was 821. ==> 821 > 494 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=1656.148/4965.7518
=0.33351405

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1615.036/4736.4168
=0.34098266

GrumaB de CV's gearing of this year was 0.33351405. GrumaB de CV's gearing of last year was 0.34098266. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=2371.679/823.532
=2.87988688

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=2219.451/846.516
=2.62186539

GrumaB de CV's current ratio of this year was 2.87988688. GrumaB de CV's current ratio of last year was 2.62186539. ==> 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.

GrumaB de CV's number of shares in issue this year was 347.045. GrumaB de CV's number of shares in issue last year was 359.783. ==> 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
=2505.485/6450.842
=0.38839658

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2500.313/6388.157
=0.39139818

GrumaB de CV's gross margin of this year was 0.38839658. GrumaB de CV's gross margin of last year was 0.39139818. ==> 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 (Mar25)
=6450.842/4728.185
=1.3643379

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=6388.157/4854.734
=1.31586138

GrumaB de CV's asset turnover of this year was 1.3643379. GrumaB de CV's asset turnover of last year was 1.31586138. ==> This year's asset turnover is higher. ==> Score 1.

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+1+1+0+1
=7

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

GrumaB de CV has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
GrumaB de CV (GPAGF) has a Piotroski F-Score of 6 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on GrumaB de CV and its competitors. This is near median its historical median of 6.00. Over the past decade, GrumaB de CV's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, GrumaB de CV ranks #511 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 26.7%.
Is GrumaB de CV's Piotroski F-Score too high?
GrumaB de CV's 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 3.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. GrumaB de CV's value of 6 is 20% above this industry median. Based on the distribution chart, GrumaB de CV ranks #511 out of 1912 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, GrumaB de CV has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GrumaB de CV's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, GrumaB de CV ranks #511 out of 1912 companies for Piotroski F-Score. This puts GrumaB de CV in the upper half of its industry. The industry median Piotroski F-Score is 5.00. GrumaB de CV's value of 6 is 20% above this benchmark. Historically, GrumaB de CV'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 6.00 vs. the industry median of 5.00, GrumaB de CV 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 1,912 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. GrumaB de CV'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 GrumaB de CV 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. GrumaB de CV'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 GrumaB de CV stock overvalued right now?
Based on GuruFocus' analysis, GrumaB de CV (GPAGF) is currently considered Fairly Valued. The stock's GF Value™ is $19.21, compared to a current price of $18.10 — trading 5.8% below 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. GrumaB de CV's overall GF Score™ is 88/100 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 GrumaB de CV (GPAGF), the current Piotroski F-Score is 6 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 GrumaB de CV (GPAGF) Overvalued in 2026?

Based on GuruFocus' analysis, GrumaB de CV stock appears to be undervalued. The current stock price of $18.10 is trading 5.8% below its estimated GF Value™ of $19.21. GuruFocus considers GrumaB de CV to be Fairly Valued.

Key valuation signals for GPAGF:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: $19.21 vs. price of $18.10 (5.8% below fair value)
  • GF Score™: 88/100 with 1 warning sign
  • Industry Position: 20% above the Consumer Packaged Goods median (#511 of 1912)

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


GrumaB de CV Business Description

Address Calzada del Valle, 407 Ote., Colonia Del Valle, San Pedro Garza Garcia, NL, MEX, 66220
Gruma SAB de CV is an international food production company, originally from Mexico. The product portfolio is large: corn and flour tortillas, wheat flour, naan, pita bread, flatbreads, wraps, chapatti, and pizza bases, along with other food products, such as snacks, pasta, rice, condiments, and palm hearts. The company has operations in America, Europe, Asia, and Oceania, and is present in over 100 countries across the globe. Its well-known brands are Maseca, Robin Hood, Mission, Guerrero, Tortiricas and Tosty.
88GF Score

Get the complete analysis for GPAGF

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

$18.10
Price
$19.21
GF Value