D'Nonce Technology Bhd (XKLS:7114) Piotroski F-Score: 6 (As of Jul. 07, 2026) — 50% Above Median


What is D'Nonce Technology Bhd Piotroski F-Score?

D'Nonce Technology Bhd XKLS:7114 Piotroski F-Score is 6 as of Jul. 07, 2026, which is 50% above its 10-year median of 4.00. The stock has 7 warning signs investors should review. Among 388 Packaging & Containers companies, D'Nonce Technology Bhd ranks better than 76.8% 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

D'Nonce Technology 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 D'Nonce Technology Bhd's Piotroski F-Score or its related term are showing as below:

XKLS:7114' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of D'Nonce Technology Bhd was 7. The lowest was 1. And the median was 4.

D'Nonce Technology Bhd  (XKLS:7114) 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.


D'Nonce Technology Bhd Piotroski F-Score Related Terms


D'Nonce Technology Bhd Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for D'Nonce Technology 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.

D'Nonce Technology Bhd Piotroski F-Score Chart

D'Nonce Technology Bhd Annual Data
Trend Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Apr21 Mar23 Mar24 Mar25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 7.00 2.00 3.00 2.00

D'Nonce Technology Bhd Quarterly Data
Apr21 Jul21 Oct21 Jan22 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 3.00 4.00 4.00 6.00

XKLS:7114 vs SW, PKG, IP: Piotroski F-Score Comparison

For the Packaging & Containers subindustry, D'Nonce Technology 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.


D'Nonce Technology Bhd Piotroski F-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, D'Nonce Technology Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where D'Nonce Technology 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 -8.678 + 3.872 + 6.792 + -9.232 = RM-7.2 Mil.
Cash Flow from Operations was -8.033 + 2.354 + 10.426 + 6.561 = RM11.3 Mil.
Revenue was 48.381 + 49.933 + 49.261 + 51.491 = RM199.1 Mil.
Gross Profit was 48.381 + 49.933 + 49.261 + 51.491 = RM199.1 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(323.704 + 320.11 + 327.106 + 339.841 + 335.44) / 5 = RM329.2402 Mil.
Total Assets at the begining of this year (Mar25) was RM323.7 Mil.
Long-Term Debt & Capital Lease Obligation was RM21.1 Mil.
Total Current Assets was RM125.1 Mil.
Total Current Liabilities was RM86.3 Mil.
Net Income was -1.926 + -6.581 + -6.527 + -9.071 = RM-24.1 Mil.

Revenue was 44.875 + 46.708 + 57.671 + 49.003 = RM198.3 Mil.
Gross Profit was 44.875 + 46.708 + 57.671 + 49.003 = RM198.3 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(334.181 + 327.784 + 331.266 + 328.934 + 323.704) / 5 = RM329.1738 Mil.
Total Assets at the begining of last year (Mar24) was RM334.2 Mil.
Long-Term Debt & Capital Lease Obligation was RM41.9 Mil.
Total Current Assets was RM127.5 Mil.
Total Current Liabilities was RM51.2 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.

D'Nonce Technology Bhd's current Net Income (TTM) was -7.2. ==> 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.

D'Nonce Technology Bhd's current Cash Flow from Operations (TTM) was 11.3. ==> 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)
=-7.246/323.704
=-0.02238465

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-24.105/334.181
=-0.07213157

D'Nonce Technology Bhd's return on assets of this year was -0.02238465. D'Nonce Technology Bhd's return on assets of last year was -0.07213157. ==> 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.

D'Nonce Technology Bhd's current Net Income (TTM) was -7.2. D'Nonce Technology Bhd's current Cash Flow from Operations (TTM) was 11.3. ==> 11.3 > -7.2 ==> 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
=21.137/329.2402
=0.06419933

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=41.913/329.1738
=0.12732787

D'Nonce Technology Bhd's gearing of this year was 0.06419933. D'Nonce Technology Bhd's gearing of last year was 0.12732787. ==> 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
=125.105/86.25
=1.45049275

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=127.45/51.183
=2.4900846

D'Nonce Technology Bhd's current ratio of this year was 1.45049275. D'Nonce Technology Bhd's current ratio of last year was 2.4900846. ==> 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.

D'Nonce Technology Bhd's number of shares in issue this year was 868.281. D'Nonce Technology Bhd's number of shares in issue last year was 868.281. ==> 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
=199.066/199.066
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=198.257/198.257
=1

D'Nonce Technology Bhd's gross margin of this year was 1. D'Nonce Technology 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)
=199.066/323.704
=0.61496305

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=198.257/334.181
=0.59326233

D'Nonce Technology Bhd's asset turnover of this year was 0.61496305. D'Nonce Technology Bhd's asset turnover of last year was 0.59326233. ==> 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
=0+1+1+1+1+0+1+0+1
=6

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

D'Nonce Technology Bhd has an F-score of 6 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 6 mean?
D'Nonce Technology Bhd (XKLS:7114) has a Piotroski F-Score of 6 as of Jul. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on D'Nonce Technology Bhd and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, D'Nonce Technology Bhd's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, D'Nonce Technology Bhd ranks #90 out of 388 companies in the Packaging & Containers industry, placing it in the top 23.2%.
Is D'Nonce Technology Bhd's Piotroski F-Score too high?
D'Nonce Technology Bhd's current Piotroski F-Score of 6 is 50% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Packaging & Containers industry median Piotroski F-Score is 5.00. D'Nonce Technology Bhd's value of 6 is 20% above this industry median. Based on the distribution chart, D'Nonce Technology Bhd ranks #90 out of 388 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers.
How does D'Nonce Technology Bhd's Piotroski F-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, D'Nonce Technology Bhd ranks #90 out of 388 companies for Piotroski F-Score. This places D'Nonce Technology Bhd in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. D'Nonce Technology Bhd's value of 6 is 20% above this benchmark. Historically, D'Nonce Technology Bhd's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, D'Nonce Technology 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 Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 388 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. D'Nonce Technology 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 D'Nonce Technology Bhd and its competitors. For the Packaging & Containers 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. D'Nonce Technology Bhd's current Piotroski F-Score is 6, which is 50% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D'Nonce Technology Bhd stock overvalued right now?
Based on GuruFocus' analysis, D'Nonce Technology Bhd (XKLS:7114) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.04, compared to a current price of RM0.04 — trading 12.5% below its estimated fair value. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Packaging & Containers 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 D'Nonce Technology Bhd (XKLS:7114), the current Piotroski F-Score is 6 as of Jul. 07, 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.

D'Nonce Technology Bhd Business Description

Address 51-14-B&C, Jalan Sultan Ahmad Shah, Menara BHL, Georgetown, PNG, MYS, 10050
D'Nonce Technology Bhd is involved in the provision of management services and investment holding activity. The group has three reportable segments: Healthcare; Electrical and electronics; and Other industries. The group's primary revenue generator is the electrical and electronics segment. The electrical and electronics segment includes end-to-end packaging and design solutions, precision polymer engineering services, cleanroom services, and contract manufacturing majorly supporting customers in the electrical and electronics industry In addition, it is also operating as a contract manufacturer of electronic components. Geographically, Malaysian regions account for the majority of revenue.