Fonterra Co-operative GroupNZSE:FCG -0.46%66 Piotroski F-Score is 7 as of Jun. 27, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates NZSE:FCG with a GF Score™ of 66/100 and a GF Value™ of NZ$2.95 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, Fonterra Co-operative Group ranks better than 88.59% on this metric.
Good Sign:
Piotroski F-Score is 7, 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
Fonterra Co-operative Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Fonterra Co-operative Group's Piotroski F-Score or its related term are showing as below:
NZSE:FCG'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of Fonterra Co-operative Group was 9. The lowest was 3. And the median was 6.
Fonterra Co-operative Group (NZSE:FCG) 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.
Fonterra Co-operative Group Piotroski F-Score Related Terms
Fonterra Co-operative Group 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.
Fonterra Co-operative Group Piotroski F-Score Chart
NZSE:FCG vs KHC, GIS, JBS: Piotroski F-Score Comparison
For the Packaged Foods subindustry, Fonterra Co-operative Group'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.
Fonterra Co-operative Group Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Fonterra Co-operative Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Fonterra Co-operative Group'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.
Fonterra Co-operative Group's current Net Income (TTM) was 1,079.
==> 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.
Fonterra Co-operative Group's current Cash Flow from Operations (TTM) was 1,960.
==> 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.
Fonterra Co-operative Group's return on assets of this year was 0.06469213. Fonterra Co-operative Group's return on assets of last year was 0.0606419.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Fonterra Co-operative Group's gearing of this year was 0.15600058. Fonterra Co-operative Group's gearing of last year was 0.13356009.
==> Last year is lower than this year ==> Score 0.
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
Fonterra Co-operative Group's current ratio of this year was 1.59726372. Fonterra Co-operative Group's current ratio of last year was 1.27278946.
==> 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.
Fonterra Co-operative Group's number of shares in issue this year was 2410.343. Fonterra Co-operative Group's number of shares in issue last year was 2411.601.
==> 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.
Fonterra Co-operative Group's gross margin of this year was 0.13624487. Fonterra Co-operative Group's gross margin of last year was 0.14664839.
==> 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
Fonterra Co-operative Group's asset turnover of this year was 1.44559026. Fonterra Co-operative Group's asset turnover of last year was 1.09795172.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fonterra Co-operative Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Fonterra Co-operative Group (NZSE:FCG) has a Piotroski F-Score of 7 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Fonterra Co-operative Group and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Fonterra Co-operative Group's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Fonterra Co-operative Group ranks #218 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 11.4%.
Is Fonterra Co-operative Group's Piotroski F-Score too high?
Fonterra Co-operative Group's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Fonterra Co-operative Group's value of 7 is 40% above this industry median. Based on the distribution chart, Fonterra Co-operative Group ranks #218 out of 1911 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Fonterra Co-operative Group has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fonterra Co-operative Group's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Fonterra Co-operative Group ranks #218 out of 1911 companies for Piotroski F-Score. This places Fonterra Co-operative Group in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Fonterra Co-operative Group's value of 7 is 40% above this benchmark. Historically, Fonterra Co-operative Group's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Fonterra Co-operative Group 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,911 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. Fonterra Co-operative Group's current Piotroski F-Score of 7 is 40% 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 Fonterra Co-operative Group 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. Fonterra Co-operative Group's current Piotroski F-Score is 7, which is 17% above 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 Fonterra Co-operative Group stock overvalued right now?
Based on GuruFocus' analysis, Fonterra Co-operative Group (NZSE:FCG) is currently considered Significantly Overvalued. The stock's GF Value™ is NZ$2.95, compared to a current price of NZ$4.33 — trading 46.8% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Consumer Packaged Goods industry median of 5.00. Fonterra Co-operative Group's overall GF Score™ is 66/100 with 6 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 Fonterra Co-operative Group (NZSE:FCG), the current Piotroski F-Score is 7 as of Jun. 27, 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 Fonterra Co-operative Group (NZSE:FCG) Overvalued in 2026?
Based on GuruFocus' analysis, Fonterra Co-operative Group stock appears to be overvalued.
The current stock price of NZ$4.33 is trading 46.8% above its estimated GF Value™ of NZ$2.95.
GuruFocus considers Fonterra Co-operative Group to be Significantly Overvalued.
Key valuation signals for NZSE:FCG:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: NZ$2.95 vs. price of NZ$4.33 (46.8% above fair value)
Industry Position: 40% above the Consumer Packaged Goods median (#218 of 1911)
No single metric tells the full story. See the NZSE:FCG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fonterra Co-operative Group Ltd operates predominantly in the international dairy industry. The company is involved in the collection, manufacture, and sale of milk and milk-derived products through its ingredients, Consumer and Foodservice channels. The company's reportable segments are Global Markets, Greater China, and Core Operations and the majority of the revenue is generated from its core operations segment. Its primary geographic markets is Asia, China, Australia, New Zealand, the United States, and the Rest of the world.
66GF Score
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