Bowler Metcalf (JSE:BCF) Piotroski F-Score: 6 (As of Jul. 02, 2026) — Near Median


JSE:BCF Bowler Metcalf Ltd JSE:BCF
82 GF Score
Price R13.99
GF Value R14.77
Valuation Fairly Valued
! 2 Warning Signs
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What is Bowler Metcalf Piotroski F-Score?

Bowler Metcalf JSE:BCF 82 Piotroski F-Score is 6 as of Jul. 02, 2026, which is at its 10-year median of 6.00. GuruFocus rates JSE:BCF with a GF Score™ of 82/100 and a GF Value™ of R14.77 (Fairly Valued). The stock has 2 warning signs investors should review. Among 386 Packaging & Containers companies, Bowler Metcalf ranks better than 76.68% 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

Bowler Metcalf 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 Bowler Metcalf's Piotroski F-Score or its related term are showing as below:

JSE:BCF' 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 Bowler Metcalf was 8. The lowest was 3. And the median was 6.

Bowler Metcalf  (JSE:BCF) 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.


Bowler Metcalf Piotroski F-Score Related Terms


Bowler Metcalf Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Bowler Metcalf'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.

Bowler Metcalf Piotroski F-Score Chart

Bowler Metcalf Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 3.00 6.00 8.00 6.00

Bowler Metcalf Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 8.00 0.00 6.00 0.00

JSE:BCF vs SW, PKG, IP: Piotroski F-Score Comparison

For the Packaging & Containers subindustry, Bowler Metcalf'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.


Bowler Metcalf Piotroski F-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Bowler Metcalf's Piotroski F-Score distribution charts can be found below:

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


JSE:BCF
82GF Score
Bowler Metcalf Ltd JSE:BCF
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 (Jun25) TTM:Last Year (Jun24) TTM:
Net Income was R121.9 Mil.
Cash Flow from Operations was R117.7 Mil.
Revenue was R945.9 Mil.
Gross Profit was R271.6 Mil.
Average Total Assets from the begining of this year (Jun24)
to the end of this year (Jun25) was (917.939 + 1030.632) / 2 = R974.2855 Mil.
Total Assets at the begining of this year (Jun24) was R917.9 Mil.
Long-Term Debt & Capital Lease Obligation was R3.2 Mil.
Total Current Assets was R539.1 Mil.
Total Current Liabilities was R100.0 Mil.
Net Income was R107.3 Mil.

Revenue was R860.9 Mil.
Gross Profit was R245.5 Mil.
Average Total Assets from the begining of last year (Jun23)
to the end of last year (Jun24) was (843.529 + 917.939) / 2 = R880.734 Mil.
Total Assets at the begining of last year (Jun23) was R843.5 Mil.
Long-Term Debt & Capital Lease Obligation was R0.0 Mil.
Total Current Assets was R514.3 Mil.
Total Current Liabilities was R77.0 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.

Bowler Metcalf's current Net Income (TTM) was 121.9. ==> 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.

Bowler Metcalf's current Cash Flow from Operations (TTM) was 117.7. ==> 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 (Jun24)
=121.916/917.939
=0.13281493

ROA (Last Year)=Net Income/Total Assets (Jun23)
=107.325/843.529
=0.12723333

Bowler Metcalf's return on assets of this year was 0.13281493. Bowler Metcalf's return on assets of last year was 0.12723333. ==> This year is higher. ==> Score 1.

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.

Bowler Metcalf's current Net Income (TTM) was 121.9. Bowler Metcalf's current Cash Flow from Operations (TTM) was 117.7. ==> 117.7 <= 121.9 ==> CFROA <= ROA ==> Score 0.

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: Jun25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun24 to Jun25
=3.163/974.2855
=0.00324648

Gearing (Last Year: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=0/880.734
=0

Bowler Metcalf's gearing of this year was 0.00324648. Bowler Metcalf's gearing of last year was 0. ==> 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: Jun25)=Total Current Assets/Total Current Liabilities
=539.129/100.041
=5.38908048

Current Ratio (Last Year: Jun24)=Total Current Assets/Total Current Liabilities
=514.258/76.998
=6.6788488

Bowler Metcalf's current ratio of this year was 5.38908048. Bowler Metcalf's current ratio of last year was 6.6788488. ==> 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.

Bowler Metcalf's number of shares in issue this year was 68.591. Bowler Metcalf's number of shares in issue last year was 68.774. ==> 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
=271.554/945.851
=0.28710019

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=245.461/860.914
=0.28511675

Bowler Metcalf's gross margin of this year was 0.28710019. Bowler Metcalf's gross margin of last year was 0.28511675. ==> 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 (Jun24)
=945.851/917.939
=1.03040725

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun23)
=860.914/843.529
=1.02060984

Bowler Metcalf's asset turnover of this year was 1.03040725. Bowler Metcalf's asset turnover of last year was 1.02060984. ==> 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+1+0+0+0+1+1+1
=6

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

Bowler Metcalf 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?
Bowler Metcalf (JSE:BCF) has a Piotroski F-Score of 6 as of Jul. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bowler Metcalf and its competitors. This is near median its historical median of 6.00. Over the past decade, Bowler Metcalf's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Bowler Metcalf ranks #90 out of 386 companies in the Packaging & Containers industry, placing it in the top 23.3%.
Is Bowler Metcalf's Piotroski F-Score too high?
Bowler Metcalf'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 Packaging & Containers industry median Piotroski F-Score is 5.00. Bowler Metcalf's value of 6 is 20% above this industry median. Based on the distribution chart, Bowler Metcalf ranks #90 out of 386 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers. Overall, Bowler Metcalf has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bowler Metcalf's Piotroski F-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Bowler Metcalf ranks #90 out of 386 companies for Piotroski F-Score. This places Bowler Metcalf in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Bowler Metcalf's value of 6 is 20% above this benchmark. Historically, Bowler Metcalf'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, Bowler Metcalf 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 Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 386 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. Bowler Metcalf'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 Bowler Metcalf and its competitors. For the Packaging & Containers 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. Bowler Metcalf'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 Bowler Metcalf stock overvalued right now?
Based on GuruFocus' analysis, Bowler Metcalf (JSE:BCF) is currently considered Fairly Valued. The stock's GF Value™ is R14.77, compared to a current price of R13.99 — trading 5.3% 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 Packaging & Containers industry median of 5.00. Bowler Metcalf's overall GF Score™ is 82/100 with 2 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 Bowler Metcalf (JSE:BCF), the current Piotroski F-Score is 6 as of Jul. 02, 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 Bowler Metcalf (JSE:BCF) Overvalued in 2026?

Based on GuruFocus' analysis, Bowler Metcalf stock appears to be undervalued. The current stock price of R13.99 is trading 5.3% below its estimated GF Value™ of R14.77. GuruFocus considers Bowler Metcalf to be Fairly Valued.

Key valuation signals for JSE:BCF:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: R14.77 vs. price of R13.99 (5.3% below fair value)
  • GF Score™: 82/100 with 2 warning signs
  • Industry Position: 20% above the Packaging & Containers median (#90 of 386)

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


Bowler Metcalf Business Description

Address 15 Harris Drive, Ottery, Cape Town, WC, ZAF, 7800
Bowler Metcalf Ltd is mainly engaged in the business of containers and packaging. The company's operating segments include Plastic Packaging and Property Investment. It generates maximum revenue from the Plastic Packaging segment, which specializes in the manufacture of rigid plastic packaging for the toiletry, cosmetic, household, pharmaceutical, and food markets. Its mode of manufacture comprises injection and blow molding, extrusion, and injection stretch blow molding. The Property Investment segment is involved in the business of investing in properties for letting to the manufacturing industry.
82GF Score

Get the complete analysis for JSE:BCF

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

R13.99
Price
R14.77
GF Value