Hap Seng Plantations Holdings Bhd (XKLS:5138) Piotroski F-Score: 4 (As of Jul. 06, 2026) — 43% Below Median


XKLS:5138 Hap Seng Plantations Holdings Bhd XKLS:5138
83 GF Score
Price RM2.27
GF Value RM2.03
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Hap Seng Plantations Holdings Bhd Piotroski F-Score?

Hap Seng Plantations Holdings Bhd XKLS:5138 83 Piotroski F-Score is 4 as of Jul. 06, 2026, which is 43% below its 10-year median of 7.00. GuruFocus rates XKLS:5138 with a GF Score™ of 83/100 and a GF Value™ of RM2.03 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,912 Consumer Packaged Goods companies, Hap Seng Plantations Holdings Bhd ranks worse than 66.89% 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

Hap Seng Plantations Holdings Bhd has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Hap Seng Plantations Holdings Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:5138' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Hap Seng Plantations Holdings Bhd was 8. The lowest was 4. And the median was 7.

Hap Seng Plantations Holdings Bhd  (XKLS:5138) 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.


Hap Seng Plantations Holdings Bhd Piotroski F-Score Related Terms


Hap Seng Plantations Holdings Bhd Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Hap Seng Plantations Holdings 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.

Hap Seng Plantations Holdings Bhd Piotroski F-Score Chart

Hap Seng Plantations Holdings Bhd 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 5.00 6.00 8.00 4.00

Hap Seng Plantations Holdings 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 8.00 8.00 7.00 4.00 4.00

XKLS:5138 vs ADM, BG, TSN: Piotroski F-Score Comparison

For the Farm Products subindustry, Hap Seng Plantations Holdings 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.


Hap Seng Plantations Holdings Bhd Piotroski F-Score vs Consumer Packaged Goods Industry

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

* The bar in red indicates where Hap Seng Plantations Holdings Bhd's Piotroski F-Score falls into.


XKLS:5138
83GF Score
Hap Seng Plantations Holdings Bhd XKLS:5138
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 19.662 + 52.376 + 30.339 + 9.969 = RM112.3 Mil.
Cash Flow from Operations was 86.655 + 18.138 + 99.656 + 2.97 = RM207.4 Mil.
Revenue was 156.107 + 169.546 + 197.321 + 192.442 = RM715.4 Mil.
Gross Profit was 156.107 + 169.546 + 197.321 + 192.442 = RM715.4 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2508.294 + 2533.425 + 2599.457 + 2636.888 + 2571.858) / 5 = RM2569.9844 Mil.
Total Assets at the begining of this year (Mar25) was RM2,508.3 Mil.
Long-Term Debt & Capital Lease Obligation was RM59.8 Mil.
Total Current Assets was RM834.7 Mil.
Total Current Liabilities was RM65.6 Mil.
Net Income was 27.668 + 55.433 + 85.01 + 22.486 = RM190.6 Mil.

Revenue was 182.815 + 177.259 + 233.371 + 179.425 = RM772.9 Mil.
Gross Profit was 182.815 + 177.259 + 233.371 + 179.425 = RM772.9 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(2443.273 + 2476.337 + 2514.494 + 2595.691 + 2508.294) / 5 = RM2507.6178 Mil.
Total Assets at the begining of last year (Mar24) was RM2,443.3 Mil.
Long-Term Debt & Capital Lease Obligation was RM52.3 Mil.
Total Current Assets was RM779.3 Mil.
Total Current Liabilities was RM52.8 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.

Hap Seng Plantations Holdings Bhd's current Net Income (TTM) was 112.3. ==> 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.

Score 1 if positive, 0 if negative.

Hap Seng Plantations Holdings Bhd's current Cash Flow from Operations (TTM) was 207.4. ==> 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)
=112.346/2508.294
=0.04478981

ROA (Last Year)=Net Income/Total Assets (Mar24)
=190.597/2443.273
=0.07800888

Hap Seng Plantations Holdings Bhd's return on assets of this year was 0.04478981. Hap Seng Plantations Holdings Bhd's return on assets of last year was 0.07800888. ==> Last year is higher ==> Score 0.

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.

Hap Seng Plantations Holdings Bhd's current Net Income (TTM) was 112.3. Hap Seng Plantations Holdings Bhd's current Cash Flow from Operations (TTM) was 207.4. ==> 207.4 > 112.3 ==> 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
=59.843/2569.9844
=0.02328536

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=52.31/2507.6178
=0.02086044

Hap Seng Plantations Holdings Bhd's gearing of this year was 0.02328536. Hap Seng Plantations Holdings Bhd's gearing of last year was 0.02086044. ==> 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
=834.686/65.571
=12.72949932

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=779.273/52.823
=14.75253204

Hap Seng Plantations Holdings Bhd's current ratio of this year was 12.72949932. Hap Seng Plantations Holdings Bhd's current ratio of last year was 14.75253204. ==> 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.

Hap Seng Plantations Holdings Bhd's number of shares in issue this year was 799.685. Hap Seng Plantations Holdings Bhd's number of shares in issue last year was 799.685. ==> 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
=715.416/715.416
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=772.87/772.87
=1

Hap Seng Plantations Holdings Bhd's gross margin of this year was 1. Hap Seng Plantations Holdings Bhd's gross margin of last year was 1. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=715.416/2508.294
=0.28522015

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=772.87/2443.273
=0.31632568

Hap Seng Plantations Holdings Bhd's asset turnover of this year was 0.28522015. Hap Seng Plantations Holdings Bhd's asset turnover of last year was 0.31632568. ==> 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
=1+1+0+1+0+0+1+0+0
=4

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

Hap Seng Plantations Holdings Bhd has an F-score of 4 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 4 mean?
Hap Seng Plantations Holdings Bhd (XKLS:5138) has a Piotroski F-Score of 4 as of Jul. 06, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hap Seng Plantations Holdings Bhd and its competitors. This is 43% below median its historical median of 7.00. Over the past decade, Hap Seng Plantations Holdings Bhd's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Hap Seng Plantations Holdings Bhd ranks #1279 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 66.9%.
Is Hap Seng Plantations Holdings Bhd's Piotroski F-Score too high?
Hap Seng Plantations Holdings Bhd's current Piotroski F-Score of 4 is 43% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Hap Seng Plantations Holdings Bhd's value of 4 is 20% below this industry median. Based on the distribution chart, Hap Seng Plantations Holdings Bhd ranks #1279 out of 1912 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Hap Seng Plantations Holdings Bhd has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hap Seng Plantations Holdings Bhd's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Hap Seng Plantations Holdings Bhd ranks #1279 out of 1912 companies for Piotroski F-Score. This places Hap Seng Plantations Holdings Bhd in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Hap Seng Plantations Holdings Bhd's value of 4 is 20% below this benchmark. Historically, Hap Seng Plantations Holdings Bhd's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Hap Seng Plantations Holdings Bhd has consistently been below 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 1,912 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. Hap Seng Plantations Holdings Bhd's current Piotroski F-Score of 4 is 20% below 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 Hap Seng Plantations Holdings 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. Hap Seng Plantations Holdings Bhd's current Piotroski F-Score is 4, which is 43% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hap Seng Plantations Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Hap Seng Plantations Holdings Bhd (XKLS:5138) is currently considered Modestly Overvalued. The stock's GF Value™ is RM2.03, compared to a current price of RM2.27 — trading 11.8% above its estimated fair value. The current Piotroski F-Score is 4, which is 43% below median its 10-year median of 7.00 and 20% below the Consumer Packaged Goods industry median of 5.00. Hap Seng Plantations Holdings Bhd's overall GF Score™ is 83/100 with 8 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 Hap Seng Plantations Holdings Bhd (XKLS:5138), the current Piotroski F-Score is 4 as of Jul. 06, 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 Hap Seng Plantations Holdings Bhd (XKLS:5138) Overvalued in 2026?

Based on GuruFocus' analysis, Hap Seng Plantations Holdings Bhd stock appears to be overvalued. The current stock price of RM2.27 is trading 11.8% above its estimated GF Value™ of RM2.03. GuruFocus considers Hap Seng Plantations Holdings Bhd to be Modestly Overvalued.

Key valuation signals for XKLS:5138:

  • Piotroski F-Score: 4 (43% below median its 10-year median of 7.00)
  • GF Value™: RM2.03 vs. price of RM2.27 (11.8% above fair value)
  • GF Score™: 83/100 with 8 warning signs
  • Industry Position: 20% below the Consumer Packaged Goods median (#1279 of 1912)

No single metric tells the full story. See the XKLS:5138 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hap Seng Plantations Holdings Bhd Business Description

Address Jalan P. Ramlee, 21st Floor, Menara Hap Seng, Kuala Lumpur, SGR, MYS, 50250
Hap Seng Plantations Holdings Bhd is a Malaysia-based palm oil plantation company. It is focused on the upstream activities in the palm oil industry where it grows oil palms in its estates, harvests and processes fresh fruit bunches (FFB) into crude palm oil (CPO) in its mills. Geographically, the company derives all of its revenue from Malaysia.
83GF Score

Get the complete analysis for XKLS:5138

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

RM2.27
Price
RM2.03
GF Value