Base FoodTSE:2936 +1.09%61 Piotroski F-Score is 5 as of Jun. 29, 2026, which is at its 10-year median of 5.00. GuruFocus rates TSE:2936 with a GF Score™ of 61/100 and a GF Value™ of 円451.87 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,910 Consumer Packaged Goods companies, Base Food ranks better than 51.88% 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
Base Food 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 Base Food's Piotroski F-Score or its related term are showing as below:
TSE:2936'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 5
During the past 6 years, the highest Piotroski F-Score of Base Food was 7. The lowest was 2. And the median was 5.
Base Food (TSE:2936) 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.
Base Food Piotroski F-Score Related Terms
Base Food Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Base Food'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.
TSE:2936 vs KHC, GIS: Piotroski F-Score Comparison
For the Packaged Foods subindustry, Base Food'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.
Base Food Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Base Food's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Base Food'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.
Base Food's current Net Income (TTM) was 262.
==> 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.
Base Food's return on assets of this year was 0.06812541. Base Food's return on assets of last year was 0.03324988.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Base Food's gearing of this year was 0.02224035. Base Food's gearing of last year was 0.06780177.
==> 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
Base Food's current ratio of this year was 1.27338745. Base Food's current ratio of last year was 1.29020986.
==> 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.
Base Food's number of shares in issue this year was 53.545. Base Food's number of shares in issue last year was 53.408.
==> 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.
Base Food's gross margin of this year was 0.56624459. Base Food's gross margin of last year was 0.5498665.
==> 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
Base Food's asset turnover of this year was 3.94460221. Base Food's asset turnover of last year was 4.65137373.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Base Food has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Base Food (TSE:2936) has a Piotroski F-Score of 5 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Base Food and its competitors. This is near median its historical median of 5.00. Over the past decade, Base Food's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Base Food ranks #919 out of 1910 companies in the Consumer Packaged Goods industry, placing it in the top 48.1%.
Is Base Food's Piotroski F-Score too high?
Base Food'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 2.00 to a high of 7.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Base Food's value of 5 is 0% at this industry median. Based on the distribution chart, Base Food ranks #919 out of 1910 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Base Food has a GF Score™ of 61/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Base Food's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Base Food ranks #919 out of 1910 companies for Piotroski F-Score. This puts Base Food in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Base Food's value of 5 is 0% at this benchmark. Historically, Base Food's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Base Food 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,910 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. Base Food'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 Base Food 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. Base Food'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 Base Food stock overvalued right now?
Based on GuruFocus' analysis, Base Food (TSE:2936) is currently considered Significantly Undervalued. The stock's GF Value™ is 円451.87, compared to a current price of 円278.00 — trading 38.5% 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 Consumer Packaged Goods industry median of 5.00. Base Food's overall GF Score™ is 61/100 with 5 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 Base Food (TSE:2936), the current Piotroski F-Score is 5 as of Jun. 29, 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 Base Food (TSE:2936) Overvalued in 2026?
Based on GuruFocus' analysis, Base Food stock appears to be undervalued.
The current stock price of 円278.00 is trading 38.5% below its estimated GF Value™ of 円451.87.
GuruFocus considers Base Food to be Significantly Undervalued.
Key valuation signals for TSE:2936:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: 円451.87 vs. price of 円278.00 (38.5% below fair value)
Industry Position: 0% at the Consumer Packaged Goods median (#919 of 1910)
No single metric tells the full story. See the TSE:2936 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Base Food Inc is engaged in the development and sale of complete nutrition food. The company offers base bread, base pasta and base cookies related products.
61GF Score
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