No. Wikipedia defines PF as a dimensionless value from 0 to 1, but
hangs "leading" and "lagging" off to the side.
If voltage and current are in phase, PF is 1 and the sign is
indeterminate. If current phase leads voltage (capacitive load), by
even one degree, PF is called "leading" and if current waveform peaks
later, it's called "lagging." Capacitive (leading) loads are usually
assigned a negative PF if the word "leading" isn't used instead.
Whichever terminology is used, something often needs to be said about
whether the current leads or lags the voltage, and the simple
Power/(Irms*Vrms) equation loses that.
This is getting into the twilight zone territory. Near the top of this
post you are quoted saying, "PF is signed". Now you are saying it is
NOT signed, no?
The point is that power factor is a result of reactance in the load, or
non-linearities. When reactive, the current will be out of phase with
the voltage. Blah, blah... The power factor with a reactive load
tells you how much of the current is reactive and how much is
dissipative. But what if the load is actually shoving power back into
the line?
BTW, Wikipedia is not a primary source. In other words, I don't rely on
it for significant facts unless the references are consulted. Wikipedia
often gets facts *wrong*. Who was the reference they cited for the
power factor info?
Rick