GRCLF (Graincorp) Piotroski F-Score: 6 (As of Jun. 26, 2026) — Near Median


GRCLF Graincorp Ltd GRCLF
66 GF Score
Price $3.45
GF Value $5.39
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Graincorp Piotroski F-Score?

Graincorp GRCLF 66 Piotroski F-Score is 6 as of Jun. 26, 2026, which is at its 10-year median of 6.00. GuruFocus rates GRCLF with a GF Score™ of 66/100 and a GF Value™ of $5.39 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,912 Consumer Packaged Goods companies, Graincorp 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

Graincorp has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

GRCLF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Graincorp was 9. The lowest was 4. And the median was 6.

Graincorp  (OTCPK:GRCLF) 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.


Graincorp Piotroski F-Score Related Terms


Graincorp Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Graincorp'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.

Graincorp Piotroski F-Score Chart

Graincorp Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 9.00 6.00 5.00 6.00

Graincorp Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.00 5.00 0.00 6.00 0.00

GRCLF vs ADM, BG, TSN: Piotroski F-Score Comparison

For the Farm Products subindustry, Graincorp'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.


Graincorp Piotroski F-Score vs Consumer Packaged Goods Industry

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

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


GRCLF
66GF Score
Graincorp Ltd GRCLF
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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was $26 Mil.
Cash Flow from Operations was $164 Mil.
Revenue was $4,807 Mil.
Gross Profit was $620 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was (1966.757 + 1773.021) / 2 = $1869.889 Mil.
Total Assets at the begining of this year (Sep24) was $1,967 Mil.
Long-Term Debt & Capital Lease Obligation was $216 Mil.
Total Current Assets was $1,107 Mil.
Total Current Liabilities was $624 Mil.
Net Income was $42 Mil.

Revenue was $4,394 Mil.
Gross Profit was $461 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was (2197.172 + 1966.757) / 2 = $2081.9645 Mil.
Total Assets at the begining of last year (Sep23) was $2,197 Mil.
Long-Term Debt & Capital Lease Obligation was $238 Mil.
Total Current Assets was $1,241 Mil.
Total Current Liabilities was $689 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.

Graincorp's current Net Income (TTM) was 26. ==> 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.

Graincorp's current Cash Flow from Operations (TTM) was 164. ==> 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 (Sep24)
=26.319/1966.757
=0.01338193

ROA (Last Year)=Net Income/Total Assets (Sep23)
=41.842/2197.172
=0.01904357

Graincorp's return on assets of this year was 0.01338193. Graincorp's return on assets of last year was 0.01904357. ==> 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.

Graincorp's current Net Income (TTM) was 26. Graincorp's current Cash Flow from Operations (TTM) was 164. ==> 164 > 26 ==> 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: Sep25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep24 to Sep25
=215.897/1869.889
=0.11545979

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=238.118/2081.9645
=0.11437179

Graincorp's gearing of this year was 0.11545979. Graincorp's gearing of last year was 0.11437179. ==> Last year is lower than this year ==> Score 0.

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: Sep25)=Total Current Assets/Total Current Liabilities
=1107.388/623.615
=1.77575588

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=1241.232/689.1
=1.8012364

Graincorp's current ratio of this year was 1.77575588. Graincorp's current ratio of last year was 1.8012364. ==> 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.

Graincorp's number of shares in issue this year was 221.667. Graincorp's number of shares in issue last year was 224.727. ==> 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
=619.525/4806.596
=0.12889059

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=460.664/4394.381
=0.10483024

Graincorp's gross margin of this year was 0.12889059. Graincorp's gross margin of last year was 0.10483024. ==> This year's gross margin is higher. ==> Score 1.

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 (Sep24)
=4806.596/1966.757
=2.44391961

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=4394.381/2197.172
=2.00001684

Graincorp's asset turnover of this year was 2.44391961. Graincorp's asset turnover of last year was 2.00001684. ==> 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+0+0+1+1+1
=6

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

Graincorp has an F-score of 6 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 6 mean?
Graincorp (GRCLF) 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 Graincorp and its competitors. This is near median its historical median of 6.00. Over the past decade, Graincorp's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Graincorp ranks #511 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 26.7%.
Is Graincorp's Piotroski F-Score too high?
Graincorp'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 4.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Graincorp's value of 6 is 20% above this industry median. Based on the distribution chart, Graincorp ranks #511 out of 1912 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Graincorp has a GF Score™ of 66/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Graincorp's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Graincorp ranks #511 out of 1912 companies for Piotroski F-Score. This puts Graincorp in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Graincorp's value of 6 is 20% above this benchmark. Historically, Graincorp's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Graincorp 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. Graincorp'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 Graincorp 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. Graincorp'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 Graincorp stock overvalued right now?
Based on GuruFocus' analysis, Graincorp (GRCLF) is currently considered Significantly Undervalued. The stock's GF Value™ is $5.39, compared to a current price of $3.45 — trading 36% 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. Graincorp's overall GF Score™ is 66/100 with 3 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 Graincorp (GRCLF), 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 Graincorp (GRCLF) Overvalued in 2026?

Based on GuruFocus' analysis, Graincorp stock appears to be undervalued. The current stock price of $3.45 is trading 36% below its estimated GF Value™ of $5.39. GuruFocus considers Graincorp to be Significantly Undervalued.

Key valuation signals for GRCLF:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: $5.39 vs. price of $3.45 (36% below fair value)
  • GF Score™: 66/100 with 3 warning signs
  • Industry Position: 20% above the Consumer Packaged Goods median (#511 of 1912)

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


Graincorp Business Description

Address Tower 2, International Towers, Level 20, 200 Barangaroo Avenue, Sydney, NSW, AUS, 2000
GrainCorp is an agribusiness with an integrated business model operating across three divisions. The company operates the largest grain storage and logistics network in eastern Australia. GrainCorp provides grain marketing services to all major grain-producing regions in Australia, as well as to Canadian and UK growers. The company has also diversified into edible oil refining and supply and bulk liquid storage.
66GF Score

Get the complete analysis for GRCLF

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

$3.45
Price
$5.39
GF Value