Pan Malaysia Bhd (XKLS:4081) Piotroski F-Score: 5 (As of Jul. 04, 2026) — Near Median


What is Pan Malaysia Bhd Piotroski F-Score?

Pan Malaysia Bhd XKLS:4081 +10.00% Piotroski F-Score is 5 as of Jul. 04, 2026, which is at its 10-year median of 5.00. The stock has 4 warning signs investors should review. Among 1,909 Consumer Packaged Goods companies, Pan Malaysia Bhd ranks better than 51.91% 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

Pan 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 Pan Malaysia Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:4081' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Pan Malaysia Bhd was 8. The lowest was 1. And the median was 5.

Pan Malaysia Bhd  (XKLS:4081) 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.


Pan Malaysia Bhd Piotroski F-Score Related Terms


Pan Malaysia Bhd Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Pan 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.

Pan Malaysia Bhd Piotroski F-Score Chart

Pan Malaysia Bhd Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 4.00 7.00 1.00 6.00

Pan Malaysia Bhd 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 2.00 6.00 6.00 5.00 5.00

XKLS:4081 vs MDLZ, HSY, TR: Piotroski F-Score Comparison

For the Confectioners subindustry, Pan 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.


Pan Malaysia Bhd Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Pan Malaysia Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Pan Malaysia Bhd's Piotroski F-Score falls into.


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 -17.714 + -5.831 + -5.833 + -5.64 = RM-35.0 Mil.
Cash Flow from Operations was 2.326 + 0.592 + -1.578 + 3.836 = RM5.2 Mil.
Revenue was 44.162 + 40.782 + 41.437 + 38.27 = RM164.7 Mil.
Gross Profit was 24.104 + 22.212 + 22.705 + 20.427 = RM89.4 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(347.56 + 320.372 + 307.694 + 294.116 + 287.269) / 5 = RM311.4022 Mil.
Total Assets at the begining of this year (Mar25) was RM347.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM62.5 Mil.
Total Current Assets was RM63.8 Mil.
Total Current Liabilities was RM67.6 Mil.
Net Income was -107.541 + -11.524 + 1.362 + -8.711 = RM-126.4 Mil.

Revenue was 60.209 + 56.536 + 56.375 + 46.86 = RM220.0 Mil.
Gross Profit was 30.097 + 30.498 + 28.874 + 24.152 = RM113.6 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(420.374 + 366.148 + 355.227 + 350.531 + 347.56) / 5 = RM367.968 Mil.
Total Assets at the begining of last year (Mar24) was RM420.4 Mil.
Long-Term Debt & Capital Lease Obligation was RM61.6 Mil.
Total Current Assets was RM83.5 Mil.
Total Current Liabilities was RM85.8 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.

Pan Malaysia Bhd's current Net Income (TTM) was -35.0. ==> 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.

Score 1 if positive, 0 if negative.

Pan Malaysia Bhd's current Cash Flow from Operations (TTM) was 5.2. ==> 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)
=-35.018/347.56
=-0.10075383

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-126.414/420.374
=-0.30071793

Pan Malaysia Bhd's return on assets of this year was -0.10075383. Pan Malaysia Bhd's return on assets of last year was -0.30071793. ==> 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.

Pan Malaysia Bhd's current Net Income (TTM) was -35.0. Pan Malaysia Bhd's current Cash Flow from Operations (TTM) was 5.2. ==> 5.2 > -35.0 ==> 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
=62.465/311.4022
=0.20059267

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=61.618/367.968
=0.16745478

Pan Malaysia Bhd's gearing of this year was 0.20059267. Pan Malaysia Bhd's gearing of last year was 0.16745478. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=63.778/67.564
=0.94396424

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=83.498/85.799
=0.97318151

Pan Malaysia Bhd's current ratio of this year was 0.94396424. Pan Malaysia Bhd's current ratio of last year was 0.97318151. ==> 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.

Pan Malaysia Bhd's number of shares in issue this year was 852.025. Pan Malaysia Bhd's number of shares in issue last year was 882.637. ==> 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
=89.448/164.651
=0.54325816

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=113.621/219.98
=0.51650605

Pan Malaysia Bhd's gross margin of this year was 0.54325816. Pan Malaysia Bhd's gross margin of last year was 0.51650605. ==> 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)
=164.651/347.56
=0.47373403

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=219.98/420.374
=0.52329592

Pan Malaysia Bhd's asset turnover of this year was 0.47373403. Pan Malaysia Bhd's asset turnover of last year was 0.52329592. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+0+0+1+1+0
=5

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

Pan Malaysia Bhd has an F-score of 5 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 5 mean?
Pan Malaysia Bhd (XKLS:4081) has a Piotroski F-Score of 5 as of Jul. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pan Malaysia Bhd and its competitors. This is near median its historical median of 5.00. Over the past decade, Pan Malaysia Bhd's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Pan Malaysia Bhd ranks #918 out of 1909 companies in the Consumer Packaged Goods industry, placing it in the top 48.1%.
Is Pan Malaysia Bhd's Piotroski F-Score too high?
Pan 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 1.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Pan Malaysia Bhd's value of 5 is 0% at this industry median. Based on the distribution chart, Pan Malaysia Bhd ranks #918 out of 1909 companies in the Consumer Packaged Goods industry, which is above the industry midpoint.
How does Pan Malaysia Bhd's Piotroski F-Score compare to MDLZ and HSY?
According to the Consumer Packaged Goods industry distribution chart, Pan Malaysia Bhd ranks #918 out of 1909 companies for Piotroski F-Score. This puts Pan Malaysia Bhd in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Pan Malaysia Bhd's value of 5 is 0% at this benchmark. Historically, Pan Malaysia 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, Pan 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,909 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. Pan 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 Pan Malaysia Bhd 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. Pan 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 Pan Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Pan Malaysia Bhd (XKLS:4081) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.11, compared to a current price of RM0.06 — trading 50% 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. 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 Pan Malaysia Bhd (XKLS:4081), the current Piotroski F-Score is 5 as of Jul. 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.

Pan Malaysia Bhd Business Description

Address 189 Jalan Ampang, Kuala Lumpur, SGR, MYS, 50450
Pan Malaysia Corp Bhd is an investment holding company with subsidiaries involved in distributing chocolate and confectionery products and operating a fast-food restaurant chain. The Group's main activities are carried out through A&W Malaysia, a wholly-owned subsidiary operating A&W restaurants. Its segments include Fast-food chain, which focuses on operating restaurant outlets; Investment holding, which manages investments and related activities; and Others, which covers the distribution of chocolate and other food and beverage products, a money lending license, and trademark licensing. The geographical area of operations includes Malaysia and the Rest of Asia.