Pakgen Power (KAR:PKGP) Piotroski F-Score: 5 (As of Jun. 29, 2026) — 17% Below Median


KAR:PKGP Pakgen Power Ltd KAR:PKGP
59 GF Score
Price ₨43.13
GF Value ₨4.61
Valuation Significantly Overvalued
! 2 Warning Signs
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What is Pakgen Power Piotroski F-Score?

Pakgen Power KAR:PKGP 59 Piotroski F-Score is 5 as of Jun. 29, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates KAR:PKGP with a GF Score™ of 59/100 and a GF Value™ of ₨4.61 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 417 Utilities - Independent Power Producers companies, Pakgen Power ranks better than 61.87% 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

Pakgen Power has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

KAR:PKGP' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 5

During the past 8 years, the highest Piotroski F-Score of Pakgen Power was 8. The lowest was 4. And the median was 6.

Pakgen Power  (KAR:PKGP) 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.


Pakgen Power Piotroski F-Score Related Terms


Pakgen Power Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Pakgen Power'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.

Pakgen Power Piotroski F-Score Chart

Pakgen Power Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial 7.00 6.00 6.00 5.00 5.00

Pakgen Power 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 6.00 7.00 4.00 5.00 5.00

KAR:PKGP vs CEG, VST, NRG: Piotroski F-Score Comparison

For the Utilities - Independent Power Producers subindustry, Pakgen Power'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.


Pakgen Power Piotroski F-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Pakgen Power's Piotroski F-Score distribution charts can be found below:

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


KAR:PKGP
59GF Score
Pakgen Power Ltd KAR:PKGP
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 -442.528 + 116.03 + -36.988 + -100.343 = ₨-463.8 Mil.
Cash Flow from Operations was 3583.325 + 840.563 + -1012.239 + 46.174 = ₨3,457.8 Mil.
Revenue was 0 + 0 + 0 + 0 = ₨0.0 Mil.
Gross Profit was 0 + 0 + 2.233 + 0 = ₨2.2 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(27217.907 + 26217.417 + 25899.314 + 15682.322 + 14321.043) / 5 = ₨21867.6006 Mil.
Total Assets at the begining of this year (Mar25) was ₨27,217.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₨0.0 Mil.
Total Current Assets was ₨12,549.5 Mil.
Total Current Liabilities was ₨278.1 Mil.
Net Income was 2146.815 + 2197.532 + -1727.388 + 37.402 = ₨2,654.4 Mil.

Revenue was 2821.29 + 2832.175 + 510.182 + 925.405 = ₨7,089.1 Mil.
Gross Profit was 2050.215 + 1913.191 + -311.705 + 145.108 = ₨3,796.8 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(31184.712 + 31774.238 + 31638.271 + 27349.586 + 27217.907) / 5 = ₨29832.9428 Mil.
Total Assets at the begining of last year (Mar24) was ₨31,184.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₨0.0 Mil.
Total Current Assets was ₨24,412.9 Mil.
Total Current Liabilities was ₨585.4 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.

Pakgen Power's current Net Income (TTM) was -463.8. ==> Negative ==> Score 0.

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.

Pakgen Power's current Cash Flow from Operations (TTM) was 3,457.8. ==> 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)
=-463.829/27217.907
=-0.01704132

ROA (Last Year)=Net Income/Total Assets (Mar24)
=2654.361/31184.712
=0.08511738

Pakgen Power's return on assets of this year was -0.01704132. Pakgen Power's return on assets of last year was 0.08511738. ==> 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.

Pakgen Power's current Net Income (TTM) was -463.8. Pakgen Power's current Cash Flow from Operations (TTM) was 3,457.8. ==> 3,457.8 > -463.8 ==> 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
=0/21867.6006
=0

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0/29832.9428
=0

Pakgen Power's gearing of this year was 0. Pakgen Power's gearing of last year was 0. ==> 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
=12549.537/278.077
=45.12971947

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=24412.9/585.352
=41.70635788

Pakgen Power's current ratio of this year was 45.12971947. Pakgen Power's current ratio of last year was 41.70635788. ==> 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.

Pakgen Power's number of shares in issue this year was 372.082. Pakgen Power's number of shares in issue last year was 374.02. ==> 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
=2.233/0
=

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3796.809/7089.052
=0.53558769

Pakgen Power's gross margin of this year was . Pakgen Power's gross margin of last year was 0.53558769. ==> 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)
=0/27217.907
=0

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=7089.052/31184.712
=0.22732459

Pakgen Power's asset turnover of this year was 0. Pakgen Power's asset turnover of last year was 0.22732459. ==> 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
=0+1+0+1+1+1+1+0+0
=5

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

Pakgen Power has an F-score of 5 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 5 mean?
Pakgen Power (KAR:PKGP) has a Piotroski F-Score of 5 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pakgen Power and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Pakgen Power's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Pakgen Power ranks #159 out of 417 companies in the Utilities - Independent Power Producers industry, placing it in the top 38.1%.
Is Pakgen Power's Piotroski F-Score too high?
Pakgen Power's current Piotroski F-Score of 5 is 17% below 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 8.00. The Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. Pakgen Power's value of 5 is 0% at this industry median. Based on the distribution chart, Pakgen Power ranks #159 out of 417 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Pakgen Power has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pakgen Power's Piotroski F-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Pakgen Power ranks #159 out of 417 companies for Piotroski F-Score. This puts Pakgen Power in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Pakgen Power's value of 5 is 0% at this benchmark. Historically, Pakgen Power's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Pakgen Power has consistently been at 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 an Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 417 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. Pakgen Power's current Piotroski F-Score of 5 is 0% at 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 Pakgen Power and its competitors. For the Utilities - Independent Power Producers 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. Pakgen Power's current Piotroski F-Score is 5, which is 17% 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 Pakgen Power stock overvalued right now?
Based on GuruFocus' analysis, Pakgen Power (KAR:PKGP) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨4.61, compared to a current price of ₨43.13 — trading 835.6% above its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Utilities - Independent Power Producers industry median of 5.00. Pakgen Power'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 Pakgen Power (KAR:PKGP), the current Piotroski F-Score is 5 as of Jun. 29, 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 Pakgen Power (KAR:PKGP) Overvalued in 2026?

Based on GuruFocus' analysis, Pakgen Power stock appears to be overvalued. The current stock price of ₨43.13 is trading 835.6% above its estimated GF Value™ of ₨4.61. GuruFocus considers Pakgen Power to be Significantly Overvalued.

Key valuation signals for KAR:PKGP:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: ₨4.61 vs. price of ₨43.13 (835.6% above fair value)
  • GF Score™: 59/100 with 2 warning signs
  • Industry Position: 0% at the Utilities - Independent Power Producers median (#159 of 417)

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


Pakgen Power Business Description

Address 1-B, Aziz Avenue, Canal Bank, Gulberg V, Lahore, PB, PAK
Pakgen Power Ltd is a company that owns, operates, and maintains an oil-fired power station. It generates revenue through the sale of electricity.
59GF Score

Get the complete analysis for KAR:PKGP

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

₨43.13
Price
₨4.61
GF Value