D G Khan Cement (KAR:DGKC) Piotroski F-Score: 8 (As of Jun. 28, 2026) — 60% Above Median


KAR:DGKC D G Khan Cement Ltd KAR:DGKC
59 GF Score
Price ₨221.94
GF Value ₨93.07
Valuation Significantly Overvalued
! 2 Warning Signs
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What is D G Khan Cement Piotroski F-Score?

D G Khan Cement KAR:DGKC 59 Piotroski F-Score is 8 as of Jun. 28, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates KAR:DGKC with a GF Score™ of 59/100 and a GF Value™ of ₨93.07 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 392 Building Materials companies, D G Khan Cement ranks better than 97.19% on this metric.

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

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

D G Khan Cement has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

KAR:DGKC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of D G Khan Cement was 9. The lowest was 1. And the median was 5.

D G Khan Cement  (KAR:DGKC) 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.


D G Khan Cement Piotroski F-Score Related Terms


D G Khan Cement Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for D G Khan Cement'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.

D G Khan Cement Piotroski F-Score Chart

D G Khan Cement 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 9.00 4.00 5.00 7.00 9.00

D G Khan Cement 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 9.00 9.00 9.00 8.00 8.00

KAR:DGKC vs CRH, VMC, MLM: Piotroski F-Score Comparison

For the Building Materials subindustry, D G Khan Cement'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.


D G Khan Cement Piotroski F-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, D G Khan Cement's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where D G Khan Cement's Piotroski F-Score falls into.


KAR:DGKC
59GF Score
D G Khan Cement Ltd KAR:DGKC
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 3450.474 + 2178.537 + 3775.921 + 2704.135 = ₨12,109 Mil.
Cash Flow from Operations was 2206.165 + 3094.814 + 6598.393 + 4317.107 = ₨16,216 Mil.
Revenue was 18418.665 + 21424.658 + 22947.546 + 22309.971 = ₨85,101 Mil.
Gross Profit was 5712.365 + 4533.23 + 7036.753 + 5954.06 = ₨23,236 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(158209.484 + 159041.712 + 166096.582 + 176603.473 + 172722.238) / 5 = ₨166534.6978 Mil.
Total Assets at the begining of this year (Mar25) was ₨158,209 Mil.
Long-Term Debt & Capital Lease Obligation was ₨5,641 Mil.
Total Current Assets was ₨67,006 Mil.
Total Current Liabilities was ₨33,271 Mil.
Net Income was -1731.927 + 816.397 + 2873.58 + 2098.691 = ₨4,057 Mil.

Revenue was 18378.207 + 16710.815 + 23435.094 + 20069.334 = ₨78,593 Mil.
Gross Profit was 1530.103 + 3142.308 + 5841.861 + 5102.797 = ₨15,617 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(149663.142 + 147831.935 + 148175.122 + 160296.663 + 158209.484) / 5 = ₨152835.2692 Mil.
Total Assets at the begining of last year (Mar24) was ₨149,663 Mil.
Long-Term Debt & Capital Lease Obligation was ₨14,503 Mil.
Total Current Assets was ₨53,391 Mil.
Total Current Liabilities was ₨33,701 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.

D G Khan Cement's current Net Income (TTM) was 12,109. ==> 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.

D G Khan Cement's current Cash Flow from Operations (TTM) was 16,216. ==> 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)
=12109.067/158209.484
=0.07653819

ROA (Last Year)=Net Income/Total Assets (Mar24)
=4056.741/149663.142
=0.02710581

D G Khan Cement's return on assets of this year was 0.07653819. D G Khan Cement's return on assets of last year was 0.02710581. ==> 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.

D G Khan Cement's current Net Income (TTM) was 12,109. D G Khan Cement's current Cash Flow from Operations (TTM) was 16,216. ==> 16,216 > 12,109 ==> 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
=5640.906/166534.6978
=0.03387226

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=14502.904/152835.2692
=0.09489239

D G Khan Cement's gearing of this year was 0.03387226. D G Khan Cement's gearing of last year was 0.09489239. ==> 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
=67006.388/33271.383
=2.01393456

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=53390.517/33701.468
=1.58421933

D G Khan Cement's current ratio of this year was 2.01393456. D G Khan Cement's current ratio of last year was 1.58421933. ==> 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.

D G Khan Cement's number of shares in issue this year was 438.271. D G Khan Cement's number of shares in issue last year was 438.14. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=23236.408/85100.84
=0.27304558

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=15617.069/78593.45
=0.198707

D G Khan Cement's gross margin of this year was 0.27304558. D G Khan Cement's gross margin of last year was 0.198707. ==> 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 (Mar25)
=85100.84/158209.484
=0.53789974

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=78593.45/149663.142
=0.52513564

D G Khan Cement's asset turnover of this year was 0.53789974. D G Khan Cement's asset turnover of last year was 0.52513564. ==> 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+1+1+1+0+1+1
=8

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

D G Khan Cement has an F-score of 8. 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 8 mean?
D G Khan Cement (KAR:DGKC) has a Piotroski F-Score of 8 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on D G Khan Cement and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, D G Khan Cement's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, D G Khan Cement ranks #11 out of 392 companies in the Building Materials industry, placing it in the top 2.8%.
Is D G Khan Cement's Piotroski F-Score too high?
D G Khan Cement's current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Building Materials industry median Piotroski F-Score is 5.00. D G Khan Cement's value of 8 is 60% above this industry median. Based on the distribution chart, D G Khan Cement ranks #11 out of 392 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, D G Khan Cement has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D G Khan Cement's Piotroski F-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, D G Khan Cement ranks #11 out of 392 companies for Piotroski F-Score. This places D G Khan Cement in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. D G Khan Cement's value of 8 is 60% above this benchmark. Historically, D G Khan Cement's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, D G Khan Cement 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 Building Materials company?
The median Piotroski F-Score among Building Materials companies is 5.00, based on 392 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. D G Khan Cement's current Piotroski F-Score of 8 is 60% 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 D G Khan Cement and its competitors. For the Building Materials 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. D G Khan Cement's current Piotroski F-Score is 8, which is 60% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D G Khan Cement stock overvalued right now?
Based on GuruFocus' analysis, D G Khan Cement (KAR:DGKC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨93.07, compared to a current price of ₨221.94 — trading 138.5% above its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 60% above the Building Materials industry median of 5.00. D G Khan Cement's overall GF Score™ is 59/100 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 D G Khan Cement (KAR:DGKC), the current Piotroski F-Score is 8 as of Jun. 28, 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 D G Khan Cement (KAR:DGKC) Overvalued in 2026?

Based on GuruFocus' analysis, D G Khan Cement stock appears to be overvalued. The current stock price of ₨221.94 is trading 138.5% above its estimated GF Value™ of ₨93.07. GuruFocus considers D G Khan Cement to be Significantly Overvalued.

Key valuation signals for KAR:DGKC:

  • Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
  • GF Value™: ₨93.07 vs. price of ₨221.94 (138.5% above fair value)
  • GF Score™: 59/100 with 2 warning signs
  • Industry Position: 60% above the Building Materials median (#11 of 392)

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


D G Khan Cement Business Description

Address 53-A, Lawrence Road, Nishat House, Lahore, PB, PAK
D G Khan Cement Ltd is engaged in the production and sale of Clinker, Ordinary Portland and Sulphate Resistant Cement. It has four cement plants, two plants; located at Dera Ghazi Khan, one in Khairpur District, Chakwal, and one in Hub District, Lasbela. Its products are distributed across the Pakistan market. The company has three operating segments, which include the Cement segment: Production and sale of clinker, ordinary portland, and sulphate resistant cement, the Packaging segment: Manufacture and supply of paper products and packing material, the Dairy segment: Production and sale of raw milk.
59GF Score

Get the complete analysis for KAR:DGKC

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

₨221.94
Price
₨93.07
GF Value