Duty Free InternationalSGX:5SO Piotroski F-Score is 6 as of Jul. 03, 2026, which is at its 10-year median of 6.00. The stock has 5 warning signs investors should review. Among 1,098 Retail - Cyclical companies, Duty Free International ranks better than 73.32% 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
Duty Free International 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 Duty Free International's Piotroski F-Score or its related term are showing as below:
SGX:5SO'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 6
Current: 6
During the past 13 years, the highest Piotroski F-Score of Duty Free International was 6. The lowest was 3. And the median was 6.
Duty Free International (SGX:5SO) 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.
Duty Free International Piotroski F-Score Related Terms
Duty Free International Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Duty Free International'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.
SGX:5SO vs CASY, WSM, DKS: Piotroski F-Score Comparison
For the Specialty Retail subindustry, Duty Free International'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.
Duty Free International Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Duty Free International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Duty Free International'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.
Duty Free International's current Net Income (TTM) was 6.97.
==> 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.
Duty Free International's current Cash Flow from Operations (TTM) was 26.64.
==> 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.
Duty Free International's return on assets of this year was 0.0455612. Duty Free International's return on assets of last year was 0.11904464.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Duty Free International's gearing of this year was 0.02466084. Duty Free International's gearing of last year was 0.19588095.
==> 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
Duty Free International's current ratio of this year was 3.10684652. Duty Free International's current ratio of last year was 11.05297285.
==> 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.
Duty Free International's number of shares in issue this year was 1200.368. Duty Free International's number of shares in issue last year was 1194.569.
==> 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.
Duty Free International's gross margin of this year was 0.33943827. Duty Free International's gross margin of last year was 0.31545399.
==> 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
Duty Free International's asset turnover of this year was 0.43608295. Duty Free International's asset turnover of last year was 0.33937913.
==> 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
Duty Free International has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Duty Free International (SGX:5SO) has a Piotroski F-Score of 6 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Duty Free International and its competitors. This is near median its historical median of 6.00. Over the past decade, Duty Free International's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, Duty Free International ranks #293 out of 1098 companies in the Retail - Cyclical industry, placing it in the top 26.7%.
Is Duty Free International's Piotroski F-Score too high?
Duty Free International's current Piotroski F-Score of 6 is near 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 6.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Duty Free International's value of 6 is 20% above this industry median. Based on the distribution chart, Duty Free International ranks #293 out of 1098 companies in the Retail - Cyclical industry, which is above the industry midpoint.
How does Duty Free International's Piotroski F-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Duty Free International ranks #293 out of 1098 companies for Piotroski F-Score. This puts Duty Free International in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Duty Free International's value of 6 is 20% above this benchmark. Historically, Duty Free International's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Duty Free International 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 5.00, based on 1,098 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. Duty Free International'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 Duty Free International and its competitors. For the Retail - Cyclical 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. Duty Free International's current Piotroski F-Score is 6, which is near 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 Duty Free International stock overvalued right now?
Based on GuruFocus' analysis, Duty Free International (SGX:5SO) is currently considered Significantly Undervalued. The stock's GF Value™ is S$0.13, compared to a current price of S$0.07 — trading 47.7% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Retail - Cyclical industry median of 5.00. 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 Duty Free International (SGX:5SO), the current Piotroski F-Score is 6 as of Jul. 03, 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.
Duty Free International Ltd is a diversified group engaged in the operations of duty-free retail businesses and the manufacture of automotive component parts. Its segments include Trading of duty free goods and non-dutiable merchandise includes revenues from sale of goods, Manufacturing and supplying of automotive component parts includes revenues from sale of goods, and Investment holding and others includes revenues from sale of oil palm fresh fruit bunches. The majority of revenue is derived from Trading of duty free goods and non-dutiable merchandise segment. Beyond its core businesses, DFI also owns the Black Forest Golf and Country Club and oil palm plantation assets. The activities of the company are carried out mainly in Malaysia.
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