Alphamin Resources (TSXV:AFM) Piotroski F-Score: 9 (As of Jun. 25, 2026) — 80% Above Median


TSXV:AFM Alphamin Resources Corp TSXV:AFM
86 GF Score
Price C$1.43
GF Value C$2.12
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Alphamin Resources Piotroski F-Score?

Alphamin Resources TSXV:AFM -4.03% 86 Piotroski F-Score is 9 as of Jun. 25, 2026, which is 80% above its 10-year median of 5.00. GuruFocus rates TSXV:AFM with a GF Score™ of 86/100 and a GF Value™ of C$2.12 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 2,511 Metals & Mining companies, Alphamin Resources ranks better than 99.96% on this metric.

Good Sign:

Piotroski F-Score is 9, indicates a very healthy situation.

The zones of discrimination were as such:

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

Alphamin Resources has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Alphamin Resources's Piotroski F-Score or its related term are showing as below:

TSXV:AFM' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Alphamin Resources was 9. The lowest was 1. And the median was 5.

Alphamin Resources  (TSXV:AFM) 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.


Alphamin Resources Piotroski F-Score Related Terms


Alphamin Resources Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Alphamin Resources'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.

Alphamin Resources Piotroski F-Score Chart

Alphamin Resources 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 8.00 6.00 3.00 7.00 8.00

Alphamin Resources Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 7.00 9.00 8.00 8.00 9.00

Alphamin Resources Piotroski F-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Alphamin Resources'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.


Alphamin Resources Piotroski F-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Alphamin Resources's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Alphamin Resources's Piotroski F-Score falls into.


TSXV:AFM
86GF Score
Alphamin Resources Corp TSXV:AFM
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 43.392 + 48.532 + 79.305 + 88.386 = C$260 Mil.
Cash Flow from Operations was 77.575 + 75.661 + 63.293 + 184.135 = C$401 Mil.
Revenue was 197.075 + 234.174 + 257.886 + 329.377 = C$1,019 Mil.
Gross Profit was 91.95 + 122.791 + 138.422 + 205.17 = C$558 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(880.883 + 829.065 + 771.84 + 807.3 + 986.79) / 5 = C$855.1756 Mil.
Total Assets at the begining of this year (Mar25) was C$881 Mil.
Long-Term Debt & Capital Lease Obligation was C$4 Mil.
Total Current Assets was C$459 Mil.
Total Current Liabilities was C$201 Mil.
Net Income was 24.783 + 44.622 + 41.382 + 33.939 = C$145 Mil.

Revenue was 142.342 + 236.439 + 199.841 + 172.97 = C$752 Mil.
Gross Profit was 69.975 + 114.373 + 92.142 + 77.789 = C$354 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(735.955 + 746.711 + 798.646 + 823.159 + 880.883) / 5 = C$797.0708 Mil.
Total Assets at the begining of last year (Mar24) was C$736 Mil.
Long-Term Debt & Capital Lease Obligation was C$21 Mil.
Total Current Assets was C$293 Mil.
Total Current Liabilities was C$216 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.

Alphamin Resources's current Net Income (TTM) was 260. ==> 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.

Alphamin Resources's current Cash Flow from Operations (TTM) was 401. ==> 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 (Mar25)
=259.615/880.883
=0.29472132

ROA (Last Year)=Net Income/Total Assets (Mar24)
=144.726/735.955
=0.19665061

Alphamin Resources's return on assets of this year was 0.29472132. Alphamin Resources's return on assets of last year was 0.19665061. ==> 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.

Alphamin Resources's current Net Income (TTM) was 260. Alphamin Resources's current Cash Flow from Operations (TTM) was 401. ==> 401 > 260 ==> CFROA > ROA ==> Score 1.

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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=4.44/855.1756
=0.00519192

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=21.386/797.0708
=0.02683074

Alphamin Resources's gearing of this year was 0.00519192. Alphamin Resources's gearing of last year was 0.02683074. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=458.714/200.518
=2.287645

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=293.427/215.865
=1.3593079

Alphamin Resources's current ratio of this year was 2.287645. Alphamin Resources's current ratio of last year was 1.3593079. ==> 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.

Alphamin Resources's number of shares in issue this year was 1285.396. Alphamin Resources's number of shares in issue last year was 1285.804. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=558.333/1018.512
=0.548185

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=354.279/751.592
=0.47137144

Alphamin Resources's gross margin of this year was 0.548185. Alphamin Resources's gross margin of last year was 0.47137144. ==> 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 (Mar25)
=1018.512/880.883
=1.15623982

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=751.592/735.955
=1.02124722

Alphamin Resources's asset turnover of this year was 1.15623982. Alphamin Resources's asset turnover of last year was 1.02124722. ==> 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+1+1+1+1+1+1
=9

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

Alphamin Resources has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 9 mean?
Alphamin Resources (TSXV:AFM) has a Piotroski F-Score of 9 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Alphamin Resources and its competitors. This is 80% above median its historical median of 5.00. Over the past decade, Alphamin Resources' Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, Alphamin Resources ranks #1 out of 2511 companies in the Metals & Mining industry, placing it in the top 0%.
Is Alphamin Resources' Piotroski F-Score too high?
Alphamin Resources' current Piotroski F-Score of 9 is 80% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Alphamin Resources' value of 9 is 200% above this industry median. Based on the distribution chart, Alphamin Resources ranks #1 out of 2511 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Alphamin Resources has a GF Score™ of 86/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Alphamin Resources' Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Alphamin Resources ranks #1 out of 2511 companies for Piotroski F-Score. This places Alphamin Resources in the top 0% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Alphamin Resources' value of 9 is 200% above this benchmark. Historically, Alphamin Resources' own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 3.00, Alphamin Resources 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 Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,511 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. Alphamin Resources's current Piotroski F-Score of 9 is 200% 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 Alphamin Resources and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alphamin Resources's current Piotroski F-Score is 9, which is 80% 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 Alphamin Resources stock overvalued right now?
Based on GuruFocus' analysis, Alphamin Resources (TSXV:AFM) is currently considered Significantly Undervalued. The stock's GF Value™ is C$2.12, compared to a current price of C$1.43 — trading 32.5% below its estimated fair value. The current Piotroski F-Score is 9, which is 80% above median its 10-year median of 5.00 and 200% above the Metals & Mining industry median of 3.00. Alphamin Resources' overall GF Score™ is 86/100 with 2 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 Alphamin Resources (TSXV:AFM), the current Piotroski F-Score is 9 as of Jun. 25, 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 Alphamin Resources (TSXV:AFM) Overvalued in 2026?

Based on GuruFocus' analysis, Alphamin Resources stock appears to be undervalued. The current stock price of C$1.43 is trading 32.5% below its estimated GF Value™ of C$2.12. GuruFocus considers Alphamin Resources to be Significantly Undervalued.

Key valuation signals for TSXV:AFM:

  • Piotroski F-Score: 9 (80% above median its 10-year median of 5.00)
  • GF Value™: C$2.12 vs. price of C$1.43 (32.5% below fair value)
  • GF Score™: 86/100 with 2 warning signs
  • Industry Position: 200% above the Metals & Mining median (#1 of 2511)

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


Alphamin Resources Business Description

Address C/o Adansonia Management Services Limited, Suite 1, Perrieri Office Suites, C2-302, Level 3, La Croisette, Office Block C, Grand Baie, MUS, 30517
Alphamin Resources Corp is engaged in the business of the production and sale of tin concentrate from the Bisie Tin mine in the Democratic Republic of the Congo (DRC). The company considers its business to consist of one reportable operating segment, being the production and sale of tin from its Bisie tin mine.
86GF Score

Get the complete analysis for TSXV:AFM

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

C$1.43
Price
C$2.12
GF Value