BefesaMEX:BFSAN -16.49%75 Piotroski F-Score is 5 as of Jun. 26, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates MEX:BFSAN with a GF Score™ of 75/100 and a GF Value™ of MXN595.11 (Fairly Valued). The stock has 5 warning signs investors should review. Among 240 Waste Management companies, Befesa ranks better than 57.92% 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
Befesa 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 Befesa's Piotroski F-Score or its related term are showing as below:
MEX:BFSAN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Befesa was 9. The lowest was 4. And the median was 6.
Befesa (MEX:BFSAN) 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.
Befesa Piotroski F-Score Related Terms
Befesa Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Befesa'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.
MEX:BFSAN vs WM, RSG, WCN: Piotroski F-Score Comparison
For the Waste Management subindustry, Befesa'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.
Befesa Piotroski F-Score vs Waste Management Industry
For the Waste Management industry and Industrials sector, Befesa's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Befesa'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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 465.539 + 445.342 + 416.661 + 431.617 = MXN1,759 Mil. Cash Flow from Operations was 660.868 + 1087.949 + 2044.427 + 795.065 = MXN4,588 Mil. Revenue was 6368.591 + 6249.537 + 6130.182 + 5945.829 = MXN24,694 Mil. Gross Profit was 3656.731 + 3829.223 + 3550.855 + 3568.765 = MXN14,606 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(43505.302 + 41757.02 + 40346.668 + 39509.355 + 40203.957) / 5 = MXN41064.4604 Mil. Total Assets at the begining of this year (Mar25) was MXN43,505 Mil. Long-Term Debt & Capital Lease Obligation was MXN13,825 Mil. Total Current Assets was MXN7,820 Mil. Total Current Liabilities was MXN6,198 Mil.
Net Income was 208.64 + 108.176 + 564.392 + 411.862 = MXN1,293 Mil.
Revenue was 6366.009 + 6418.033 + 7079.735 + 6820.322 = MXN26,684 Mil. Gross Profit was 3219.053 + 3517.155 + 3882.523 + 3796.091 = MXN14,415 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(36293.232 + 39543.893 + 41977.709 + 43197.352 + 43505.302) / 5 = MXN40903.4976 Mil. Total Assets at the begining of last year (Mar24) was MXN36,293 Mil. Long-Term Debt & Capital Lease Obligation was MXN15,082 Mil. Total Current Assets was MXN7,907 Mil. Total Current Liabilities was MXN6,179 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.
Befesa's current Net Income (TTM) was 1,759.
==> 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.
Befesa's current ratio of this year was 1.2615659. Befesa's current ratio of last year was 1.2797361.
==> 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.
Befesa's number of shares in issue this year was 39.815. Befesa's number of shares in issue last year was 39.621.
==> 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.
Befesa's gross margin of this year was 0.59145913. Befesa's gross margin of last year was 0.54020269.
==> 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
Befesa's asset turnover of this year was 0.56761217. Befesa's asset turnover of last year was 0.73523623.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Befesa has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Befesa (MEX:BFSAN) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Befesa and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Befesa's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Befesa ranks #101 out of 240 companies in the Waste Management industry, placing it in the top 42.1%.
Is Befesa's Piotroski F-Score too high?
Befesa'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 9.00. The Waste Management industry median Piotroski F-Score is 5.00. Befesa's value of 5 is 0% at this industry median. Based on the distribution chart, Befesa ranks #101 out of 240 companies in the Waste Management industry, which is above the industry midpoint. Overall, Befesa has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Befesa's Piotroski F-Score compare to WM and RSG?
According to the Waste Management industry distribution chart, Befesa ranks #101 out of 240 companies for Piotroski F-Score. This puts Befesa in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Befesa's value of 5 is 0% at this benchmark. Historically, Befesa's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Befesa 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 Waste Management company?
The median Piotroski F-Score among Waste Management companies is 5.00, based on 240 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. Befesa'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 Befesa and its competitors. For the Waste Management 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. Befesa'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 Befesa stock overvalued right now?
Based on GuruFocus' analysis, Befesa (MEX:BFSAN) is currently considered Fairly Valued. The stock's GF Value™ is MXN595.11, compared to a current price of MXN600.57 — trading 0.9% 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 Waste Management industry median of 5.00. Befesa's overall GF Score™ is 75/100 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 Befesa (MEX:BFSAN), the current Piotroski F-Score is 5 as of Jun. 26, 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 Befesa (MEX:BFSAN) Overvalued in 2026?
Based on GuruFocus' analysis, Befesa stock appears to be overvalued.
The current stock price of MXN600.57 is trading 0.9% above its estimated GF Value™ of MXN595.11.
GuruFocus considers Befesa to be Fairly Valued.
Key valuation signals for MEX:BFSAN:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: MXN595.11 vs. price of MXN600.57 (0.9% above fair value)
Industry Position: 0% at the Waste Management median (#101 of 240)
No single metric tells the full story. See the MEX:BFSAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Befesa SA provides sustainable services for the recycling of hazardous residues from the Steel & Aluminium industry. It operates in two business segments: Steel dust recycling services & Aluminum salt slags recycling services. In the Steel Dust Recycling segment, the company collects & recycles steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel. The Aluminum Salt Slags recycling services are divided into salt slags & secondary aluminum segments. Its secondary aluminum operations include the collection and recycling of aluminum scrap and other aluminum residues. Geographically, it generates the majority of its revenue from Spain, and also has a presence in Germany, Belgium, Finland, the Netherlands, Italy, France, and other countries.
75GF Score
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