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Zelan BhdXKLS:2283 -6.67% Piotroski F-Score is 6 as of Jul. 15, 2026, which is 20% above its 10-year median of 5.00. The stock has 8 warning signs investors should review. Among 1,731 Construction companies, Zelan Bhd ranks better than 73.83% 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
Zelan Bhd 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 Zelan Bhd's Piotroski F-Score or its related term are showing as below:
XKLS:2283'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Zelan Bhd was 8. The lowest was 1. And the median was 5.
Zelan Bhd (XKLS:2283) 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.
Zelan Bhd Piotroski F-Score Related Terms
Zelan Bhd Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Zelan 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:2283 vs PWR, FIX, EME: Piotroski F-Score Comparison
For the Engineering & Construction subindustry, Zelan 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.
Zelan Bhd Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, Zelan Bhd's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Zelan 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.
*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.
Zelan Bhd's current Net Income (TTM) was -65.20.
==> Negative ==> Score 0.
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.
Zelan Bhd's return on assets of this year was -0.14369873. Zelan Bhd's return on assets of last year was -0.33614943.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Zelan Bhd's current ratio of this year was 0.26153876. Zelan Bhd's current ratio of last year was 0.27396388.
==> 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.
Zelan Bhd's number of shares in issue this year was 844.895. Zelan Bhd's number of shares in issue last year was 844.895.
==> 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.
Zelan Bhd's gross margin of this year was 0.6428879. Zelan Bhd's gross margin of last year was 0.50245326.
==> 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
Zelan Bhd's asset turnover of this year was 0.0665478. Zelan Bhd's asset turnover of last year was 0.05256927.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Zelan Bhd has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Zelan Bhd (XKLS:2283) has a Piotroski F-Score of 6 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Zelan Bhd and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Zelan Bhd's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Zelan Bhd ranks #453 out of 1731 companies in the Construction industry, placing it in the top 26.2%.
Is Zelan Bhd's Piotroski F-Score too high?
Zelan Bhd's 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 1.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Zelan Bhd's value of 6 is 20% above this industry median. Based on the distribution chart, Zelan Bhd ranks #453 out of 1731 companies in the Construction industry, which is above the industry midpoint.
How does Zelan Bhd's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Zelan Bhd ranks #453 out of 1731 companies for Piotroski F-Score. This puts Zelan Bhd in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Zelan Bhd's value of 6 is 20% above this benchmark. Historically, Zelan Bhd's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Zelan Bhd 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,731 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. Zelan Bhd'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 Zelan Bhd and its competitors. For the Construction 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. Zelan Bhd'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 Zelan Bhd stock overvalued right now?
Based on GuruFocus' analysis, Zelan Bhd (XKLS:2283) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.03, compared to a current price of RM0.07 — trading 133.3% 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 Construction industry median of 5.00. 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 Zelan Bhd (XKLS:2283), the current Piotroski F-Score is 6 as of Jul. 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.
Zelan Bhd is a company involved in the engineering and construction business sector. The company business segments are the Engineering and Construction segment, which includes projects in Indonesia, the Middle East, and Malaysia, the Property and Development business segment, which includes rental income, car park income, and management fees; the Asset facility management business segment are asset management services provided for the concession agreement; and Investment business segment includes rental income. The majority of the revenue is derived from Asset facility management segment.
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