Haad Thip PCLHAATF 81 Piotroski F-Score is 4 as of Jul. 12, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates HAATF with a GF Score™ of 81/100 and a GF Value™ of $0.51. The stock has 5 warning signs investors should review. Among 113 Beverages - Non-Alcoholic companies, Haad Thip PCL ranks worse than 75.22% 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
Haad Thip PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Haad Thip PCL's Piotroski F-Score or its related term are showing as below:
HAATF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 9
Current: 4
During the past 13 years, the highest Piotroski F-Score of Haad Thip PCL was 9. The lowest was 3. And the median was 6.
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.
Haad Thip PCL Piotroski F-Score Related Terms
Haad Thip PCL Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Haad Thip PCL'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.
HAATF vs KO, PEP, MNST: Piotroski F-Score Comparison
For the Beverages - Non-Alcoholic subindustry, Haad Thip PCL'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.
Haad Thip PCL Piotroski F-Score vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Haad Thip PCL's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Haad Thip PCL'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.
Haad Thip PCL's current Net Income (TTM) was 18.2.
==> 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.
Haad Thip PCL's return on assets of this year was 0.08023728. Haad Thip PCL's return on assets of last year was 0.09062583.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Haad Thip PCL's gearing of this year was 0.1533068. Haad Thip PCL's gearing of last year was 0.10798483.
==> 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
Haad Thip PCL's current ratio of this year was 1.12036761. Haad Thip PCL's current ratio of last year was 0.78186318.
==> 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.
Haad Thip PCL's number of shares in issue this year was 402.318. Haad Thip PCL's number of shares in issue last year was 401.543.
==> 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.
Haad Thip PCL's gross margin of this year was 0.42139124. Haad Thip PCL's gross margin of last year was 0.43146689.
==> 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
Haad Thip PCL's asset turnover of this year was 1.16950692. Haad Thip PCL's asset turnover of last year was 1.22164367.
==> 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
+
0
+
1
+
0
+
0
+
0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Haad Thip PCL has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Haad Thip PCL (HAATF) has a Piotroski F-Score of 4 as of Jul. 12, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Haad Thip PCL and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Haad Thip PCL's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Haad Thip PCL ranks #85 out of 113 companies in the Beverages - Non-Alcoholic industry, placing it in the top 75.2%.
Is Haad Thip PCL's Piotroski F-Score too high?
Haad Thip PCL's current Piotroski F-Score of 4 is 33% below 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 9.00. The Beverages - Non-Alcoholic industry median Piotroski F-Score is 6.00. Haad Thip PCL's value of 4 is 33.3% below this industry median. Based on the distribution chart, Haad Thip PCL ranks #85 out of 113 companies in the Beverages - Non-Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Haad Thip PCL has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Haad Thip PCL's Piotroski F-Score compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Haad Thip PCL ranks #85 out of 113 companies for Piotroski F-Score. This places Haad Thip PCL in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Haad Thip PCL's value of 4 is 33.3% below this benchmark. Historically, Haad Thip PCL's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Haad Thip PCL has consistently been below 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 Beverages - Non-Alcoholic company?
The median Piotroski F-Score among Beverages - Non-Alcoholic companies is 6.00, based on 113 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. Haad Thip PCL's current Piotroski F-Score of 4 is 33.3% below 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 Haad Thip PCL and its competitors. For the Beverages - Non-Alcoholic industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Haad Thip PCL's current Piotroski F-Score is 4, which is 33% 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 Haad Thip PCL stock overvalued right now?
Haad Thip PCL (HAATF) has a current Piotroski F-Score of 4. The stock's GF Value™ is $0.51, compared to a current price of $0.48 — trading 5.1% below its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 33.3% below the Beverages - Non-Alcoholic industry median of 6.00. Haad Thip PCL's overall GF Score™ is 81/100 with 5 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 Haad Thip PCL (HAATF), the current Piotroski F-Score is 4 as of Jul. 12, 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 Haad Thip PCL (HAATF) Overvalued in 2026?
Based on GuruFocus' analysis, Haad Thip PCL stock appears to be undervalued.
The current stock price of $0.48 is trading 5.1% below its estimated GF Value™ of $0.51.
Key valuation signals for HAATF:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: $0.51 vs. price of $0.48 (5.1% below fair value)
Industry Position: 33.3% below the Beverages - Non-Alcoholic median (#85 of 113)
No single metric tells the full story. See the HAATF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Haad Thip PCL is engaged in the manufacture and distribution of soft drinks. The company has been granted a franchise by Coca-Cola in the United States to be a producer and distributor of carbonated drinks under the trademarks of Coca-Cola, Fanta, and Sprite, and other non-carbonated products owned by Coca-Cola Company, such as Minute Maid Splash and Namthip Drinking Water. Its brands include Coca-Cola, Sprite, Fanta, Minute Maid, Namthip, A&W, and Aquarius. The company operates business in two segments, namely Carbonated soft drink that produces and distributes soft drinks, and sport drink, including as distributor of other beverages; and Real estate. The majority of its revenue is derived from Carbonated soft drink segment.
81GF Score
Get the complete analysis for HAATF
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HAATF has been successfully added to your 
