Associated British FoodsLSE:ABF +0.21%83 Piotroski F-Score is 5 as of Jun. 24, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates LSE:ABF with a GF Score™ of 83/100 and a GF Value™ of £22.57 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,912 Consumer Packaged Goods companies, Associated British Foods ranks better than 52.09% 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
Associated British Foods 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 Associated British Foods's Piotroski F-Score or its related term are showing as below:
LSE:ABF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Associated British Foods was 9. The lowest was 5. And the median was 6.
Associated British Foods (LSE:ABF) 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.
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.
Associated British Foods Piotroski F-Score Related Terms
Associated British Foods Piotroski F-Score Historical Data
* 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.
For the Packaged Foods subindustry, Associated British Foods'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.
Associated British Foods Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Associated British Foods's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Associated British Foods'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.
Associated British Foods's current Net Income (TTM) was 1,025.
==> 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.
Associated British Foods's current Cash Flow from Operations (TTM) was 2,231.
==> 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.
Associated British Foods's return on assets of this year was 0.05390765. Associated British Foods's return on assets of last year was 0.07721291.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Associated British Foods's gearing of this year was 0.1636862. Associated British Foods's gearing of last year was 0.17179988.
==> 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
Associated British Foods's current ratio of this year was 1.53680297. Associated British Foods's current ratio of last year was 1.77753544.
==> 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.
Associated British Foods's number of shares in issue this year was 724. Associated British Foods's number of shares in issue last year was 751.
==> 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.
Associated British Foods's gross margin of this year was 0.23922093. Associated British Foods's gross margin of last year was 0.24321228.
==> 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
Associated British Foods's asset turnover of this year was 1.02340381. Associated British Foods's asset turnover of last year was 1.0652197.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Associated British Foods has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Associated British Foods (LSE:ABF) has a Piotroski F-Score of 5 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Associated British Foods and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Associated British Foods' Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Associated British Foods ranks #916 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 47.9%.
Is Associated British Foods' Piotroski F-Score too high?
Associated British Foods' 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 5.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Associated British Foods' value of 5 is 0% at this industry median. Based on the distribution chart, Associated British Foods ranks #916 out of 1912 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Associated British Foods has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Associated British Foods' Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Associated British Foods ranks #916 out of 1912 companies for Piotroski F-Score. This puts Associated British Foods in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Associated British Foods' value of 5 is 0% at this benchmark. Historically, Associated British Foods' own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Associated British Foods 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 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. Associated British Foods'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 Associated British Foods 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. Associated British Foods'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 Associated British Foods stock overvalued right now?
Based on GuruFocus' analysis, Associated British Foods (LSE:ABF) is currently considered Modestly Undervalued. The stock's GF Value™ is £22.57, compared to a current price of £18.85 — trading 16.5% below 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 Consumer Packaged Goods industry median of 5.00. Associated British Foods' overall GF Score™ is 83/100 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 Associated British Foods (LSE:ABF), the current Piotroski F-Score is 5 as of Jun. 24, 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 Associated British Foods (LSE:ABF) Overvalued in 2026?
Based on GuruFocus' analysis, Associated British Foods stock appears to be undervalued.
The current stock price of £18.85 is trading 16.5% below its estimated GF Value™ of £22.57.
GuruFocus considers Associated British Foods to be Modestly Undervalued.
Key valuation signals for LSE:ABF:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: £22.57 vs. price of £18.85 (16.5% below fair value)
Industry Position: 0% at the Consumer Packaged Goods median (#916 of 1912)
No single metric tells the full story. See the LSE:ABF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Associated British Foods is a diversified international food, ingredients, and retail group with 138,000 employees and operations in 56 countries across Europe, Africa, the Americas, Asia, and Australia. The group sells branded groceries, grows and processes sugar, supplies farmers with crop input and animal feed, and runs the multinational Primark clothing retail chain. It also supplies ingredients like bakers' yeast, enzymes, lipids, and cereal specialties. In fiscal 2025, approximately 36% of sales came from the UK, and Primark accounted for around 60% of operating profit.On April 21, 2026, ABF announced it plans to separate Primark and the food businesses. Subject to approvals, the demerger is expected to become effective at the end of 2027.
83GF Score
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