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Tourmaline OilMEX:TOUN 87 Piotroski F-Score is 4 as of Aug. 13, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates MEX:TOUN with a GF Score™ of 87/100 and a GF Value™ of MXN777.12. The stock has 8 warning signs investors should review. Among 988 Oil & Gas companies, Tourmaline Oil ranks worse than 61.23% 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
Tourmaline Oil has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Tourmaline Oil's Piotroski F-Score or its related term are showing as below:
MEX:TOUN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 4
During the past 13 years, the highest Piotroski F-Score of Tourmaline Oil was 8. The lowest was 3. And the median was 5.
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.
Tourmaline Oil Piotroski F-Score Related Terms
Tourmaline Oil Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Tourmaline Oil'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:TOUN vs COP, EOG, FANG: Piotroski F-Score Comparison
For the Oil & Gas E&P subindustry, Tourmaline Oil'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.
Tourmaline Oil Piotroski F-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Tourmaline Oil's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Tourmaline Oil'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 (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 2524.814 + -8549.307 + 8642.553 + 2293.038 = MXN4,911 Mil. Cash Flow from Operations was 11318.228 + 9138.098 + 12389.293 + 8004.52 = MXN40,850 Mil. Revenue was 18539.125 + 21690.584 + 23345.17 + 18629.151 = MXN82,204 Mil. Gross Profit was 10452.15 + -2665.535 + 14235.791 + 11345.866 = MXN33,368 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(321837.33 + 314846.62 + 295264.856 + 303090.428 + 283996.438) / 5 = MXN303807.1344 Mil. Total Assets at the begining of this year (Jun25) was MXN321,837 Mil. Long-Term Debt & Capital Lease Obligation was MXN9,089 Mil. Total Current Assets was MXN17,357 Mil. Total Current Liabilities was MXN24,239 Mil.
Net Income was 5163.042 + 5964.449 + 3030.795 + 7089.067 = MXN21,247 Mil.
Revenue was 18491.323 + 22214.021 + 25835.916 + 19701.421 = MXN86,243 Mil. Gross Profit was 11012.977 + 14112.606 + 17036.168 + 12282.223 = MXN54,444 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(265808.212 + 294291.201 + 326611.109 + 319347.044 + 321837.33) / 5 = MXN305578.9792 Mil. Total Assets at the begining of last year (Jun24) was MXN265,808 Mil. Long-Term Debt & Capital Lease Obligation was MXN17,822 Mil. Total Current Assets was MXN15,036 Mil. Total Current Liabilities was MXN20,784 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.
Tourmaline Oil's current Net Income (TTM) was 4,911.
==> 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.
Tourmaline Oil's return on assets of this year was 0.01525957. Tourmaline Oil's return on assets of last year was 0.0799349.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tourmaline Oil's gearing of this year was 0.02991843. Tourmaline Oil's gearing of last year was 0.05832271.
==> 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
Tourmaline Oil's current ratio of this year was 0.71607471. Tourmaline Oil's current ratio of last year was 0.72344724.
==> 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.
Tourmaline Oil's number of shares in issue this year was 389.973. Tourmaline Oil's number of shares in issue last year was 380.501.
==> 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.
Tourmaline Oil's gross margin of this year was 0.40592015. Tourmaline Oil's gross margin of last year was 0.63128805.
==> 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
Tourmaline Oil's asset turnover of this year was 0.25542105. Tourmaline Oil's asset turnover of last year was 0.32445454.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tourmaline Oil has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Tourmaline Oil (MEX:TOUN) has a Piotroski F-Score of 4 as of Aug. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tourmaline Oil and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Tourmaline Oil's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Tourmaline Oil ranks #605 out of 988 companies in the Oil & Gas industry, placing it in the top 61.2%.
Is Tourmaline Oil's Piotroski F-Score too high?
Tourmaline Oil's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Oil & Gas industry median Piotroski F-Score is 5.00. Tourmaline Oil's value of 4 is 20% below this industry median. Based on the distribution chart, Tourmaline Oil ranks #605 out of 988 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Tourmaline Oil has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does Tourmaline Oil's Piotroski F-Score compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Tourmaline Oil ranks #605 out of 988 companies for Piotroski F-Score. This places Tourmaline Oil in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Tourmaline Oil's value of 4 is 20% below this benchmark. Historically, Tourmaline Oil'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 5.00 vs. the industry median of 5.00, Tourmaline Oil has consistently been below 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 Oil & Gas company?
The median Piotroski F-Score among Oil & Gas companies is 5.00, based on 988 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. Tourmaline Oil's current Piotroski F-Score of 4 is 20% below 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 Tourmaline Oil and its competitors. For the Oil & Gas 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. Tourmaline Oil's current Piotroski F-Score is 4, which is 20% below 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 Tourmaline Oil stock overvalued right now?
Tourmaline Oil (MEX:TOUN) has a current Piotroski F-Score of 4. The stock's GF Value™ is MXN777.12, compared to a current price of MXN756.91 — trading 2.6% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Oil & Gas industry median of 5.00. Tourmaline Oil's overall GF Score™ is 87/100 with 8 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 Tourmaline Oil (MEX:TOUN), the current Piotroski F-Score is 4 as of Aug. 13, 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 Tourmaline Oil (MEX:TOUN) Overvalued in 2026?
Based on GuruFocus' analysis, Tourmaline Oil stock appears to be undervalued.
The current stock price of MXN756.91 is trading 2.6% below its estimated GF Value™ of MXN777.12.
Key valuation signals for MEX:TOUN:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: MXN777.12 vs. price of MXN756.91 (2.6% below fair value)
Industry Position: 20% below the Oil & Gas median (#605 of 988)
No single metric tells the full story. See the MEX:TOUN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tourmaline Oil is a Canadian natural gas producer with an integrated midstream gathering and processing operation. Its primary product is natural gas, but also produces natural gas liquids, condensates, and oil. As a result of multiple acquisitions, it has become the largest natural gas producer in Canada.
87GF Score
Get the complete analysis for MEX:TOUN
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