Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Masan GroupSTC:MSN +2.41%86 Piotroski F-Score is 5 as of Jul. 31, 2026, which is at its 10-year median of 5.00. GuruFocus rates STC:MSN with a GF Score™ of 86/100 and a GF Value™ of ₫86,628.64 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 556 Conglomerates companies, Masan Group ranks better than 51.62% 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
Masan Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Masan Group's Piotroski F-Score or its related term are showing as below:
STC:MSN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 5
During the past 13 years, the highest Piotroski F-Score of Masan Group was 8. The lowest was 3. And the median was 5.
Masan Group (STC:MSN) 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.
Masan Group Piotroski F-Score Related Terms
Masan Group Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Masan Group'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.
For the Conglomerates subindustry, Masan 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.
Masan Group Piotroski F-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Masan Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Masan 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 1208655 + 1473959 + 1245794 + 3125168 = ₫7,053,576 Mil. Cash Flow from Operations was 1253779 + -1155039 + 3473727 + -289028 = ₫3,283,439 Mil. Revenue was 21163826 + 23245825 + 24019754 + 28117678 = ₫96,547,083 Mil. Gross Profit was 6441502 + 7255437 + 7906027 + 8910850 = ₫30,513,816 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(123466559 + 121351209 + 128963171 + 130717940 + 142957455) / 5 = ₫129491266.8 Mil. Total Assets at the begining of this year (Jun25) was ₫123,466,559 Mil. Long-Term Debt & Capital Lease Obligation was ₫41,000,046 Mil. Total Current Assets was ₫42,812,024 Mil. Total Current Liabilities was ₫49,415,573 Mil.
Net Income was 701071 + 691055 + 393500 + 1032192 = ₫2,817,818 Mil.
Revenue was 21486895 + 22701531 + 18896538 + 18315140 = ₫81,400,104 Mil. Gross Profit was 6420610 + 7062540 + 6194243 + 5689428 = ₫25,366,821 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(157465855 + 154291445 + 147584718 + 143152163 + 123466559) / 5 = ₫145192148 Mil. Total Assets at the begining of last year (Jun24) was ₫157,465,855 Mil. Long-Term Debt & Capital Lease Obligation was ₫39,144,065 Mil. Total Current Assets was ₫32,650,920 Mil. Total Current Liabilities was ₫36,915,519 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.
Masan Group's current Net Income (TTM) was 7,053,576.
==> 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.
Masan Group's return on assets of this year was 0.05712945. Masan Group's return on assets of last year was 0.01789479.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Masan Group's gearing of this year was 0.31662402. Masan Group's gearing of last year was 0.2696018.
==> 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
Masan Group's current ratio of this year was 0.86636705. Masan Group's current ratio of last year was 0.8844768.
==> 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.
Masan Group's number of shares in issue this year was 1520.763. Masan Group's number of shares in issue last year was 1513.478.
==> 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.
Masan Group's gross margin of this year was 0.31605114. Masan Group's gross margin of last year was 0.31163131.
==> 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
Masan Group's asset turnover of this year was 0.7819695. Masan Group's asset turnover of last year was 0.51693813.
==> 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
+
1
+
0
+
0
+
0
+
0
+
1
+
1
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Masan Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Masan Group (STC:MSN) has a Piotroski F-Score of 5 as of Jul. 31, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Masan Group and its competitors. This is near median its historical median of 5.00. Over the past decade, Masan Group's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Masan Group ranks #269 out of 556 companies in the Conglomerates industry, placing it in the top 48.4%.
Is Masan Group's Piotroski F-Score too high?
Masan Group's current Piotroski F-Score of 5 is near 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 Conglomerates industry median Piotroski F-Score is 5.00. Masan Group's value of 5 is 0% at this industry median. Based on the distribution chart, Masan Group ranks #269 out of 556 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Masan Group has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Masan Group's Piotroski F-Score compare to MMM and HON?
According to the Conglomerates industry distribution chart, Masan Group ranks #269 out of 556 companies for Piotroski F-Score. This puts Masan Group in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Masan Group's value of 5 is 0% at this benchmark. Historically, Masan Group'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, Masan Group has consistently been at 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 Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 5.00, based on 556 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. Masan Group's current Piotroski F-Score of 5 is 0% at 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 Masan Group and its competitors. For the Conglomerates 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. Masan Group's current Piotroski F-Score is 5, which is near 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 Masan Group stock overvalued right now?
Based on GuruFocus' analysis, Masan Group (STC:MSN) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫86,628.64, compared to a current price of ₫67,900.00 — trading 21.6% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Conglomerates industry median of 5.00. Masan Group's overall GF Score™ is 86/100 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 Masan Group (STC:MSN), the current Piotroski F-Score is 5 as of Jul. 31, 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 Masan Group (STC:MSN) Overvalued in 2026?
Based on GuruFocus' analysis, Masan Group stock appears to be undervalued.
The current stock price of ₫67,900.00 is trading 21.6% below its estimated GF Value™ of ₫86,628.64.
GuruFocus considers Masan Group to be Modestly Undervalued.
Key valuation signals for STC:MSN:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: ₫86,628.64 vs. price of ₫67,900.00 (21.6% below fair value)
Industry Position: 0% at the Conglomerates median (#269 of 556)
No single metric tells the full story. See the STC:MSN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Masan Group Corp is an investment holding company based in Vietnam. Along with its subsidiaries, it is mainly engaged in manufacturing, retailing, and distributing food and beverage products in Vietnam. Additionally, it is also involved in financial services, high-tech materials, consumer retail, and other businesses. The Group has five reportable segments: Branded consumer product, MEATLife: integrated meat products, Consumer retail, High-tech materials, and Others. Maximum revenue is generated from the Consumer retail segment. Geographically, the Group generates maximum revenue from its domestic market, and also has some overseas presence.
86GF Score
Get the complete analysis for STC:MSN
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
STC:MSN has been successfully added to your 
