Maple Leaf Foods (TSX:MFI) Piotroski F-Score: 6 (As of Aug. 15, 2026) — 20% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

TSX:MFI Maple Leaf Foods Inc TSX:MFI
68 GF Score
Price C$26.81
GF Value C$20.99
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is Maple Leaf Foods Piotroski F-Score?

Maple Leaf Foods TSX:MFI -0.26% 68 Piotroski F-Score is 6 as of Aug. 15, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates TSX:MFI with a GF Score™ of 68/100 and a GF Value™ of C$20.99 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,908 Consumer Packaged Goods companies, Maple Leaf Foods ranks better than 72.43% 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

Maple Leaf Foods 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 Maple Leaf Foods's Piotroski F-Score or its related term are showing as below:

TSX:MFI' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Maple Leaf Foods was 9. The lowest was 3. And the median was 5.

Maple Leaf Foods  (TSX:MFI) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Maple Leaf Foods Piotroski F-Score Related Terms


Maple Leaf Foods Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Maple Leaf Foods'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.

Maple Leaf Foods Piotroski F-Score Chart

Maple Leaf Foods Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 7.00 7.00 6.00

Maple Leaf Foods Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 6.00 7.00 6.00

TSX:MFI vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Maple Leaf Foods'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.


Maple Leaf Foods Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Maple Leaf Foods's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Maple Leaf Foods's Piotroski F-Score falls into.


TSX:MFI
68GF Score
Maple Leaf Foods Inc TSX:MFI
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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 43.056 + 391.234 + 46.074 + 40.791 = C$521 Mil.
Cash Flow from Operations was 72.38 + 113.605 + 54.691 + 4.707 = C$245 Mil.
Revenue was 1010.514 + 991.242 + 962.85 + 1020.145 = C$3,985 Mil.
Gross Profit was 162.767 + 158.415 + 180.375 + 192.205 = C$694 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(4447.332 + 4448.135 + 3541.93 + 3573.725 + 3629.568) / 5 = C$3928.138 Mil.
Total Assets at the begining of this year (Jun25) was C$4,447 Mil.
Long-Term Debt & Capital Lease Obligation was C$1,306 Mil.
Total Current Assets was C$975 Mil.
Total Current Liabilities was C$625 Mil.
Net Income was 17.686 + 53.535 + 49.563 + 57.778 = C$179 Mil.

Revenue was 935.508 + 917.05 + 906.664 + 1004.245 = C$3,763 Mil.
Gross Profit was 140.235 + 143.461 + 154.142 + 187.442 = C$625 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(4629.582 + 4454.196 + 4430.518 + 4437.639 + 4447.332) / 5 = C$4479.8534 Mil.
Total Assets at the begining of last year (Jun24) was C$4,630 Mil.
Long-Term Debt & Capital Lease Obligation was C$1,365 Mil.
Total Current Assets was C$1,277 Mil.
Total Current Liabilities was C$1,110 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.

Maple Leaf Foods's current Net Income (TTM) was 521. ==> 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.

Maple Leaf Foods's current Cash Flow from Operations (TTM) was 245. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun25)
=521.155/4447.332
=0.11718374

ROA (Last Year)=Net Income/Total Assets (Jun24)
=178.562/4629.582
=0.03856979

Maple Leaf Foods's return on assets of this year was 0.11718374. Maple Leaf Foods's return on assets of last year was 0.03856979. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Maple Leaf Foods's current Net Income (TTM) was 521. Maple Leaf Foods's current Cash Flow from Operations (TTM) was 245. ==> 245 <= 521 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun25 to Jun26
=1306.19/3928.138
=0.33252141

Gearing (Last Year: Jun25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun24 to Jun25
=1365.23/4479.8534
=0.30474881

Maple Leaf Foods's gearing of this year was 0.33252141. Maple Leaf Foods's gearing of last year was 0.30474881. ==> 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

Current Ratio (This Year: Jun26)=Total Current Assets/Total Current Liabilities
=974.796/625.41
=1.55865112

Current Ratio (Last Year: Jun25)=Total Current Assets/Total Current Liabilities
=1276.663/1110.119
=1.15002356

Maple Leaf Foods's current ratio of this year was 1.55865112. Maple Leaf Foods's current ratio of last year was 1.15002356. ==> 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.

Maple Leaf Foods's number of shares in issue this year was 127.8. Maple Leaf Foods's number of shares in issue last year was 125.6. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=693.762/3984.751
=0.17410423

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=625.28/3763.467
=0.16614467

Maple Leaf Foods's gross margin of this year was 0.17410423. Maple Leaf Foods's gross margin of last year was 0.16614467. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun25)
=3984.751/4447.332
=0.89598685

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun24)
=3763.467/4629.582
=0.81291724

Maple Leaf Foods's asset turnover of this year was 0.89598685. Maple Leaf Foods's asset turnover of last year was 0.81291724. ==> 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+1+0+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Maple Leaf Foods has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
Maple Leaf Foods (TSX:MFI) has a Piotroski F-Score of 6 as of Aug. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Maple Leaf Foods and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Maple Leaf Foods' Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Maple Leaf Foods ranks #526 out of 1908 companies in the Consumer Packaged Goods industry, placing it in the top 27.6%.
Is Maple Leaf Foods' Piotroski F-Score too high?
Maple Leaf Foods' 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 3.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Maple Leaf Foods' value of 6 is 20% above this industry median. Based on the distribution chart, Maple Leaf Foods ranks #526 out of 1908 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Maple Leaf Foods has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Maple Leaf Foods' Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Maple Leaf Foods ranks #526 out of 1908 companies for Piotroski F-Score. This puts Maple Leaf Foods in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Maple Leaf Foods' value of 6 is 20% above this benchmark. Historically, Maple Leaf Foods' own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Maple Leaf Foods 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,908 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. Maple Leaf Foods'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 Maple Leaf Foods 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. Maple Leaf Foods'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 Maple Leaf Foods stock overvalued right now?
Based on GuruFocus' analysis, Maple Leaf Foods (TSX:MFI) is currently considered Modestly Overvalued. The stock's GF Value™ is C$20.99, compared to a current price of C$26.81 — trading 27.7% above 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 Consumer Packaged Goods industry median of 5.00. Maple Leaf Foods' overall GF Score™ is 68/100 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 Maple Leaf Foods (TSX:MFI), the current Piotroski F-Score is 6 as of Aug. 15, 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 Maple Leaf Foods (TSX:MFI) Overvalued in 2026?

Based on GuruFocus' analysis, Maple Leaf Foods stock appears to be overvalued. The current stock price of C$26.81 is trading 27.7% above its estimated GF Value™ of C$20.99. GuruFocus considers Maple Leaf Foods to be Modestly Overvalued.

Key valuation signals for TSX:MFI:

  • Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
  • GF Value™: C$20.99 vs. price of C$26.81 (27.7% above fair value)
  • GF Score™: 68/100 with 4 warning signs
  • Industry Position: 20% above the Consumer Packaged Goods median (#526 of 1908)

No single metric tells the full story. See the TSX:MFI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Maple Leaf Foods Business Description

Other Exchanges MLFNF:USA0V5G:UKM1L:Germany
Address 6897 Financial Drive, Mississauga, ON, CAN, L5N 0A8
Maple Leaf Foods Inc is a protein-focused consumer packaged goods company that responsibly produces food products under brands including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Mina, Greenfield Natural Meat Co., Lightlife, and Field Roast. The company's portfolio includes prepared meats, ready-to-cook and ready-to-serve meals, value-added fresh pork and poultry, and plant protein products. Its main markets are Canada, the United States, and Others.
68GF Score

Get the complete analysis for TSX:MFI

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$26.81
Price
C$20.99
GF Value