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Bursa Malaysia BhdXKLS:1818 -0.58%88 Piotroski F-Score is 5 as of Aug. 04, 2026, which is at its 10-year median of 5.00. GuruFocus rates XKLS:1818 with a GF Score™ of 88/100 and a GF Value™ of RM9.37 (Fairly Valued). The stock has 6 warning signs investors should review. Among 783 Capital Markets companies, Bursa Malaysia Bhd ranks better than 65.13% 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
Bursa Malaysia Bhd 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 Bursa Malaysia Bhd's Piotroski F-Score or its related term are showing as below:
XKLS:1818'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of Bursa Malaysia Bhd was 9. The lowest was 3. And the median was 5.
Bursa Malaysia Bhd (XKLS:1818) 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.
Bursa Malaysia Bhd Piotroski F-Score Related Terms
Bursa Malaysia Bhd Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Bursa Malaysia Bhd'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.
XKLS:1818 vs SPGI, CME, ICE: Piotroski F-Score Comparison
For the Financial Data & Stock Exchanges subindustry, Bursa Malaysia Bhd'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.
Bursa Malaysia Bhd Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Bursa Malaysia Bhd's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bursa Malaysia Bhd'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 63.849 + 60.826 + 72.831 + 71.775 = RM269.3 Mil. Cash Flow from Operations was 54.566 + 81.068 + 94.354 + 93.059 = RM323.0 Mil. Revenue was 173.768 + 183.673 + 206.862 + 204.802 = RM769.1 Mil. Gross Profit was 116.578 + 116.87 + 130.188 + 125.576 = RM489.2 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3189.554 + 3079.937 + 3224.472 + 3430.53 + 3935.067) / 5 = RM3371.912 Mil. Total Assets at the begining of this year (Jun25) was RM3,189.6 Mil. Long-Term Debt & Capital Lease Obligation was RM7.7 Mil. Total Current Assets was RM3,554.6 Mil. Total Current Liabilities was RM3,079.7 Mil.
Net Income was 85.741 + 68.902 + 68.421 + 57.059 = RM280.1 Mil.
Revenue was 204.037 + 179.141 + 177.664 + 166.657 = RM727.5 Mil. Gross Profit was 142.401 + 117.83 + 118.921 + 103.739 = RM482.9 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3236.05 + 3594.323 + 4355.409 + 3833.743 + 3189.554) / 5 = RM3641.8158 Mil. Total Assets at the begining of last year (Jun24) was RM3,236.1 Mil. Long-Term Debt & Capital Lease Obligation was RM7.7 Mil. Total Current Assets was RM2,816.5 Mil. Total Current Liabilities was RM2,376.8 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.
Bursa Malaysia Bhd's current Net Income (TTM) was 269.3.
==> 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.
Bursa Malaysia Bhd's return on assets of this year was 0.08442591. Bursa Malaysia Bhd's return on assets of last year was 0.08656325.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Bursa Malaysia Bhd's gearing of this year was 0.00227616. Bursa Malaysia Bhd's gearing of last year was 0.00210939.
==> 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
Bursa Malaysia Bhd's current ratio of this year was 1.15421862. Bursa Malaysia Bhd's current ratio of last year was 1.18500389.
==> 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.
Bursa Malaysia Bhd's number of shares in issue this year was 809.299. Bursa Malaysia Bhd's number of shares in issue last year was 809.299.
==> 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.
Bursa Malaysia Bhd's gross margin of this year was 0.6360796. Bursa Malaysia Bhd's gross margin of last year was 0.66376861.
==> 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
Bursa Malaysia Bhd's asset turnover of this year was 0.24113246. Bursa Malaysia Bhd's asset turnover of last year was 0.2248108.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bursa Malaysia Bhd has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Bursa Malaysia Bhd (XKLS:1818) has a Piotroski F-Score of 5 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bursa Malaysia Bhd and its competitors. This is near median its historical median of 5.00. Over the past decade, Bursa Malaysia Bhd's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Bursa Malaysia Bhd ranks #273 out of 783 companies in the Capital Markets industry, placing it in the top 34.9%.
Is Bursa Malaysia Bhd's Piotroski F-Score too high?
Bursa Malaysia Bhd'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 9.00. The Capital Markets industry median Piotroski F-Score is 5.00. Bursa Malaysia Bhd's value of 5 is 0% at this industry median. Based on the distribution chart, Bursa Malaysia Bhd ranks #273 out of 783 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Bursa Malaysia Bhd has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bursa Malaysia Bhd's Piotroski F-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Bursa Malaysia Bhd ranks #273 out of 783 companies for Piotroski F-Score. This puts Bursa Malaysia Bhd in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Bursa Malaysia Bhd's value of 5 is 0% at this benchmark. Historically, Bursa Malaysia Bhd's 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, Bursa Malaysia Bhd 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 Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 783 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. Bursa Malaysia Bhd'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 Bursa Malaysia Bhd 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. Bursa Malaysia Bhd'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 Bursa Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Bursa Malaysia Bhd (XKLS:1818) is currently considered Fairly Valued. The stock's GF Value™ is RM9.37, compared to a current price of RM8.55 — trading 8.8% 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 Capital Markets industry median of 5.00. Bursa Malaysia Bhd's overall GF Score™ is 88/100 with 6 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 Bursa Malaysia Bhd (XKLS:1818), the current Piotroski F-Score is 5 as of Aug. 04, 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 Bursa Malaysia Bhd (XKLS:1818) Overvalued in 2026?
Based on GuruFocus' analysis, Bursa Malaysia Bhd stock appears to be undervalued.
The current stock price of RM8.55 is trading 8.8% below its estimated GF Value™ of RM9.37.
GuruFocus considers Bursa Malaysia Bhd to be Fairly Valued.
Key valuation signals for XKLS:1818:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: RM9.37 vs. price of RM8.55 (8.8% below fair value)
Industry Position: 0% at the Capital Markets median (#273 of 783)
No single metric tells the full story. See the XKLS:1818 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bursa Malaysia Bhd operates as an exchange holding company, whose principal activities are treasury management and the provision of management and administrative services to its subsidiaries. Through its subsidiaries it operates the Malaysian securities, derivatives, multi-environment product market, debt fundraising and offshore financial exchanges and the Shariah-compliant commodity and precious metals trading platform, to operate the related clearing houses, depository function and regulatory function, and to disseminate information relating to instruments quoted on the exchanges. Its six segments include: Securities Market, Derivatives Market, Islamic Market, Data Business, Exchange, Holding Company, and Others, of which Securities Market segment derives maximum revenue.
88GF Score
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