DNSE Securities JSCSTC:DSE +1.58%39 Piotroski F-Score is 4 as of Jun. 30, 2026, which is at its 10-year median of 4.00. GuruFocus rates STC:DSE with a GF Score™ of 39/100. The stock has 4 warning signs investors should review. Among 785 Capital Markets companies, DNSE Securities JSC ranks worse than 57.2% 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
DNSE Securities JSC 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 DNSE Securities JSC's Piotroski F-Score or its related term are showing as below:
STC:DSE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 4 Max: 4
Current: 4
During the past 3 years, the highest Piotroski F-Score of DNSE Securities JSC was 4. The lowest was 4. And the median was 4.
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.
DNSE Securities JSC Piotroski F-Score Related Terms
DNSE Securities JSC Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for DNSE Securities JSC'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.
STC:DSE vs MS, GS, SCHW: Piotroski F-Score Comparison
For the Capital Markets subindustry, DNSE Securities JSC'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.
DNSE Securities JSC Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, DNSE Securities JSC's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where DNSE Securities JSC'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 73353.936 + 136807.156 + 9272.425 + 11326.654 = ₫230,760 Mil. Cash Flow from Operations was -1139492.067 + -1191641.767 + -1315345.179 + -127577.278 = ₫-3,774,056 Mil. Revenue was 277284.1 + 475928.097 + 431808.934 + 376830.894 = ₫1,561,852 Mil. Gross Profit was 188586.368 + 301682.051 + 277032.742 + 211656.717 = ₫978,958 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(11156238.389 + 11920004.725 + 14009370.829 + 15139226.705 + 15559097.301) / 5 = ₫13556787.5898 Mil. Total Assets at the begining of this year (Mar25) was ₫11,156,238 Mil. Long-Term Debt & Capital Lease Obligation was ₫1,321,428 Mil. Total Current Assets was ₫13,212,814 Mil. Total Current Liabilities was ₫8,879,094 Mil.
Net Income was 34161.858 + 44373.695 + 33087.333 + 53096.256 = ₫164,719 Mil.
Revenue was 193598.959 + 192309.682 + 231508.649 + 232237.332 = ₫849,655 Mil. Gross Profit was 144258.871 + 147195.576 + 177259.067 + 148620.377 = ₫617,334 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(9234752.359 + 8902342.766 + 10383852.11 + 10637252.118 + 11156238.389) / 5 = ₫10062887.5484 Mil. Total Assets at the begining of last year (Mar24) was ₫9,234,752 Mil. Long-Term Debt & Capital Lease Obligation was ₫318,401 Mil. Total Current Assets was ₫9,137,291 Mil. Total Current Liabilities was ₫6,753,236 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.
DNSE Securities JSC's current Net Income (TTM) was 230,760.
==> 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.
DNSE Securities JSC's current Cash Flow from Operations (TTM) was -3,774,056.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
DNSE Securities JSC's return on assets of this year was 0.02068441. DNSE Securities JSC's return on assets of last year was 0.01783688.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
DNSE Securities JSC's gearing of this year was 0.09747352. DNSE Securities JSC's gearing of last year was 0.03164114.
==> 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
DNSE Securities JSC's current ratio of this year was 1.48808139. DNSE Securities JSC's current ratio of last year was 1.35302412.
==> 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.
DNSE Securities JSC's number of shares in issue this year was 428.25. DNSE Securities JSC's number of shares in issue last year was 357.743.
==> 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.
DNSE Securities JSC's gross margin of this year was 0.62679298. DNSE Securities JSC's gross margin of last year was 0.72657039.
==> 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
DNSE Securities JSC's asset turnover of this year was 0.13999809. DNSE Securities JSC's asset turnover of last year was 0.09200622.
==> 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
DNSE Securities JSC has an F-score of 4 indicating the company's financial situation is typical for a stable company.
DNSE Securities JSC (STC:DSE) has a Piotroski F-Score of 4 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on DNSE Securities JSC and its competitors. This is near median its historical median of 4.00. Over the past decade, DNSE Securities JSC's Piotroski F-Score has ranged from 4.00 to 4.00. According to the industry distribution chart, DNSE Securities JSC ranks #449 out of 785 companies in the Capital Markets industry, placing it in the top 57.2%.
Is DNSE Securities JSC's Piotroski F-Score too high?
DNSE Securities JSC's current Piotroski F-Score of 4 is near median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 4.00. The Capital Markets industry median Piotroski F-Score is 5.00. DNSE Securities JSC's value of 4 is 20% below this industry median. Based on the distribution chart, DNSE Securities JSC ranks #449 out of 785 companies in the Capital Markets industry, which is below the industry midpoint. Overall, DNSE Securities JSC has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does DNSE Securities JSC's Piotroski F-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, DNSE Securities JSC ranks #449 out of 785 companies for Piotroski F-Score. This places DNSE Securities JSC in the lower half of its industry. The industry median Piotroski F-Score is 5.00. DNSE Securities JSC's value of 4 is 20% below this benchmark. Historically, DNSE Securities JSC's own Piotroski F-Score has ranged from 4.00 to 4.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, DNSE Securities JSC 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 a Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 785 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. DNSE Securities JSC'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 DNSE Securities JSC 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. DNSE Securities JSC's current Piotroski F-Score is 4, which is near median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DNSE Securities JSC stock overvalued right now?
DNSE Securities JSC (STC:DSE) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 20% below the Capital Markets industry median of 5.00. DNSE Securities JSC's overall GF Score™ is 39/100 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 DNSE Securities JSC (STC:DSE), the current Piotroski F-Score is 4 as of Jun. 30, 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.
DNSE Securities JSC is a securities trading platform. The company operates in Securities Trading, Custom Custody, Underwriting consulting, and Treasury. The majority of revenue is from Securities Trading segment. All business activities of the Company are carried out in Vietnam.
39GF Score
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