GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Quali-Smart Holdings Ltd (HKSE:01348) » Definitions » Piotroski F-Score

Quali-Smart Holdings (HKSE:01348) Piotroski F-Score : 6 (As of Jun. 04, 2024)


View and export this data going back to 2013. Start your Free Trial

What is Quali-Smart Holdings Piotroski F-Score?

The zones of discrimination were as such:

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

Quali-Smart Holdings 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 Quali-Smart Holdings's Piotroski F-Score or its related term are showing as below:

HKSE:01348' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 6
Current: 6

During the past 12 years, the highest Piotroski F-Score of Quali-Smart Holdings was 6. The lowest was 2. And the median was 4.


Quali-Smart Holdings Piotroski F-Score Historical Data

The historical data trend for Quali-Smart Holdings'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.

* Premium members only.

Quali-Smart Holdings Piotroski F-Score Chart

Quali-Smart Holdings Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 4.00 6.00 3.00 6.00

Quali-Smart Holdings Semi-Annual Data
Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23
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 - 3.00 - 6.00 -

Competitive Comparison of Quali-Smart Holdings's Piotroski F-Score

For the Leisure subindustry, Quali-Smart Holdings'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.


Quali-Smart Holdings's Piotroski F-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Quali-Smart Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Quali-Smart Holdings'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 (Mar23) TTM:Last Year (Mar22) TTM:
Net Income was HK$-72.3 Mil.
Cash Flow from Operations was HK$40.0 Mil.
Revenue was HK$341.8 Mil.
Gross Profit was HK$44.9 Mil.
Average Total Assets from the begining of this year (Mar22)
to the end of this year (Mar23) was (381.507 + 243.876) / 2 = HK$312.6915 Mil.
Total Assets at the begining of this year (Mar22) was HK$381.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.7 Mil.
Total Current Assets was HK$183.2 Mil.
Total Current Liabilities was HK$102.5 Mil.
Net Income was HK$-94.4 Mil.

Revenue was HK$448.7 Mil.
Gross Profit was HK$54.4 Mil.
Average Total Assets from the begining of last year (Mar21)
to the end of last year (Mar22) was (438.842 + 381.507) / 2 = HK$410.1745 Mil.
Total Assets at the begining of last year (Mar21) was HK$438.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$31.6 Mil.
Total Current Assets was HK$283.5 Mil.
Total Current Liabilities was HK$151.1 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.

Quali-Smart Holdings's current Net Income (TTM) was -72.3. ==> 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.

Quali-Smart Holdings's current Cash Flow from Operations (TTM) was 40.0. ==> 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 (Mar22)
=-72.321/381.507
=-0.18956664

ROA (Last Year)=Net Income/Total Assets (Mar21)
=-94.374/438.842
=-0.21505234

Quali-Smart Holdings's return on assets of this year was -0.18956664. Quali-Smart Holdings's return on assets of last year was -0.21505234. ==> 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.

Quali-Smart Holdings's current Net Income (TTM) was -72.3. Quali-Smart Holdings's current Cash Flow from Operations (TTM) was 40.0. ==> 40.0 > -72.3 ==> 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: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1.719/312.6915
=0.00549743

Gearing (Last Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=31.604/410.1745
=0.07705013

Quali-Smart Holdings's gearing of this year was 0.00549743. Quali-Smart Holdings's gearing of last year was 0.07705013. ==> 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: Mar23)=Total Current Assets/Total Current Liabilities
=183.16/102.474
=1.78738021

Current Ratio (Last Year: Mar22)=Total Current Assets/Total Current Liabilities
=283.459/151.081
=1.87620548

Quali-Smart Holdings's current ratio of this year was 1.78738021. Quali-Smart Holdings's current ratio of last year was 1.87620548. ==> 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.

Quali-Smart Holdings's number of shares in issue this year was 1474.232. Quali-Smart Holdings's number of shares in issue last year was 1474.232. ==> 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
=44.934/341.801
=0.13146246

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=54.438/448.655
=0.12133599

Quali-Smart Holdings's gross margin of this year was 0.13146246. Quali-Smart Holdings's gross margin of last year was 0.12133599. ==> 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 (Mar22)
=341.801/381.507
=0.89592327

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar21)
=448.655/438.842
=1.02236112

Quali-Smart Holdings's asset turnover of this year was 0.89592327. Quali-Smart Holdings's asset turnover of last year was 1.02236112. ==> 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+1+0+1+1+0
=6

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

Quali-Smart Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Quali-Smart Holdings  (HKSE:01348) 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.


Quali-Smart Holdings Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Quali-Smart Holdings's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Quali-Smart Holdings (HKSE:01348) Business Description

Traded in Other Exchanges
N/A
Address
No. 3 Hoi Shing Road, Tsuen Wan, Workshop C, 19th Floor, TML Tower, New Territories, Hong Kong, HKG
Quali-Smart Holdings Ltd is an investment holding company. The company's operating segment includes Manufacturing and sales of toys and Financial Services. It generates maximum revenue from the Manufacturing and sales of toys segment. The Financial Services segment includes securities brokerage, underwriting, securities margin financing, investment advisory, corporate finance, and asset management services. Geographically, it derives a majority of its revenue from North America which includes the United States of America and Canada, and also has a presence in the United Kingdom; France; PRC, and Taiwan; Central America, Caribbean, and Mexico; Australia, New Zealand, and Pacific Islands and other countries.
Executives
Benefit Global Limited 2101 Beneficial owner
Blackpine Private Equity Partners G.p. Limited 2201 Interest of corporation controlled by you
Clearfield Global Limited 2201 Interest of corporation controlled by you
Chu Lawrence Sheng Yu 2201 Interest of corporation controlled by you
Li Man Yee Stella 2101 Beneficial owner
Lau Ho Ming Peter 2101 Beneficial owner
Smart Investor Holdings Limited 2101 Beneficial owner
Zhongtai Securities Company Limited
Zhong Tai Jin Rong Guo Ji You Xian Gong Si 2101 Beneficial owner
Shan Dong Gang Tie Ji Tuan You Xian Gong Si
Lai Wu Gang Tie Ji Tuan You Xian Gong Si

Quali-Smart Holdings (HKSE:01348) Headlines

No Headlines