The Philippine Stock ExchangePHS:PSE +1.40%91 Piotroski F-Score is 6 as of Jun. 24, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates PHS:PSE with a GF Score™ of 91/100 and a GF Value™ of ₱377.31 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 781 Capital Markets companies, The Philippine Stock Exchange ranks better than 81.56% 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
The Philippine Stock Exchange 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 The Philippine Stock Exchange's Piotroski F-Score or its related term are showing as below:
PHS:PSE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of The Philippine Stock Exchange was 9. The lowest was 2. And the median was 5.
The Philippine Stock Exchange (PHS:PSE) 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.
The Philippine Stock Exchange Piotroski F-Score Related Terms
The Philippine Stock Exchange 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.
The Philippine Stock Exchange Piotroski F-Score Chart
PHS:PSE vs SPGI, CME, ICE: Piotroski F-Score Comparison
For the Financial Data & Stock Exchanges subindustry, The Philippine Stock Exchange'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.
The Philippine Stock Exchange Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, The Philippine Stock Exchange's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where The Philippine Stock Exchange'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.
The Philippine Stock Exchange's current Net Income (TTM) was 1,307.
==> 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.
The Philippine Stock Exchange's current Cash Flow from Operations (TTM) was 1,538.
==> 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.
The Philippine Stock Exchange's return on assets of this year was 0.13995508. The Philippine Stock Exchange's return on assets of last year was 0.16001065.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
The Philippine Stock Exchange's gearing of this year was 0.08819722. The Philippine Stock Exchange's gearing of last year was 0.12219473.
==> 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
The Philippine Stock Exchange's current ratio of this year was 2.9424636. The Philippine Stock Exchange's current ratio of last year was 3.11870055.
==> 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.
The Philippine Stock Exchange's number of shares in issue this year was 81.958. The Philippine Stock Exchange's number of shares in issue last year was 81.951.
==> 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.
The Philippine Stock Exchange's gross margin of this year was 0.70031189. The Philippine Stock Exchange's gross margin of last year was 0.64939053.
==> 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
The Philippine Stock Exchange's asset turnover of this year was 0.31727814. The Philippine Stock Exchange's asset turnover of last year was 0.22803152.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
1
+
1
+
0
+
0
+
1
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
The Philippine Stock Exchange has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The Philippine Stock Exchange (PHS:PSE) has a Piotroski F-Score of 6 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on The Philippine Stock Exchange and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, The Philippine Stock Exchange's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, The Philippine Stock Exchange ranks #144 out of 781 companies in the Capital Markets industry, placing it in the top 18.4%.
Is The Philippine Stock Exchange's Piotroski F-Score too high?
The Philippine Stock Exchange's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Capital Markets industry median Piotroski F-Score is 5.00. The Philippine Stock Exchange's value of 6 is 20% above this industry median. Based on the distribution chart, The Philippine Stock Exchange ranks #144 out of 781 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, The Philippine Stock Exchange has a GF Score™ of 91/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Philippine Stock Exchange's Piotroski F-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, The Philippine Stock Exchange ranks #144 out of 781 companies for Piotroski F-Score. This places The Philippine Stock Exchange in the top 18% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. The Philippine Stock Exchange's value of 6 is 20% above this benchmark. Historically, The Philippine Stock Exchange's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, The Philippine Stock Exchange 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 Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 781 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. The Philippine Stock Exchange's current Piotroski F-Score of 6 is 20% 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 The Philippine Stock Exchange and its competitors. For the Capital Markets 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. The Philippine Stock Exchange's current Piotroski F-Score is 6, which is 20% above 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 The Philippine Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, The Philippine Stock Exchange (PHS:PSE) is currently considered Significantly Undervalued. The stock's GF Value™ is ₱377.31, compared to a current price of ₱202.80 — trading 46.3% below its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Capital Markets industry median of 5.00. The Philippine Stock Exchange's overall GF Score™ is 91/100 with 4 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 The Philippine Stock Exchange (PHS:PSE), the current Piotroski F-Score is 6 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 The Philippine Stock Exchange (PHS:PSE) Overvalued in 2026?
Based on GuruFocus' analysis, The Philippine Stock Exchange stock appears to be undervalued.
The current stock price of ₱202.80 is trading 46.3% below its estimated GF Value™ of ₱377.31.
GuruFocus considers The Philippine Stock Exchange to be Significantly Undervalued.
Key valuation signals for PHS:PSE:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: ₱377.31 vs. price of ₱202.80 (46.3% below fair value)
Industry Position: 20% above the Capital Markets median (#144 of 781)
No single metric tells the full story. See the PHS:PSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Philippine Stock Exchange Business Description
The Philippine Stock Exchange Inc is a Philippines-based stock corporation. The company's business is to provide and maintain a convenient and suitable market for the exchange, purchase, and sale of all types of securities and other instruments. The company's business segments include: Equity, Clearing and Settlement Business; and Depository and Fixed Income Business. It derives maximum revenue from Equity, Clearing and Settlement Business. The sources of revenue also consist of listing-related fees for initial public offerings, annual listing maintenance membership, transactions, data feeds, and miscellaneous fees.
91GF Score
Get the complete analysis for PHS:PSE
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PHS:PSE has been successfully added to your 
