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ICZOOM Group (ICZOOM Group) Piotroski F-Score : 3 (As of May. 16, 2024)


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What is ICZOOM Group Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

ICZOOM Group has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for ICZOOM Group's Piotroski F-Score or its related term are showing as below:

IZM' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 9
Current: 3

During the past 5 years, the highest Piotroski F-Score of ICZOOM Group was 9. The lowest was 3. And the median was 4.


ICZOOM Group Piotroski F-Score Historical Data

The historical data trend for ICZOOM Group'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.

ICZOOM Group Piotroski F-Score Chart

ICZOOM Group Annual Data
Trend Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
N/A N/A 9.00 4.00 3.00

ICZOOM Group Semi-Annual Data
Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only 9.00 N/A 4.00 N/A 3.00

Competitive Comparison of ICZOOM Group's Piotroski F-Score

For the Electronics & Computer Distribution subindustry, ICZOOM Group'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.


ICZOOM Group's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, ICZOOM Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ICZOOM Group'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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was $1.8 Mil.
Cash Flow from Operations was $-3.8 Mil.
Revenue was $214.4 Mil.
Gross Profit was $5.3 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was (89.633 + 88.176) / 2 = $88.9045 Mil.
Total Assets at the begining of this year (Jun22) was $89.6 Mil.
Long-Term Debt & Capital Lease Obligation was $0.4 Mil.
Total Current Assets was $86.9 Mil.
Total Current Liabilities was $72.3 Mil.
Net Income was $2.6 Mil.

Revenue was $290.4 Mil.
Gross Profit was $7.8 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was (87.51 + 89.633) / 2 = $88.5715 Mil.
Total Assets at the begining of last year (Jun21) was $87.5 Mil.
Long-Term Debt & Capital Lease Obligation was $0.5 Mil.
Total Current Assets was $88.4 Mil.
Total Current Liabilities was $78.7 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.

ICZOOM Group's current Net Income (TTM) was 1.8. ==> 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.

ICZOOM Group's current Cash Flow from Operations (TTM) was -3.8. ==> Negative ==> Score 0.

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 (Jun22)
=1.751/89.633
=0.01953522

ROA (Last Year)=Net Income/Total Assets (Jun21)
=2.57/87.51
=0.02936807

ICZOOM Group's return on assets of this year was 0.01953522. ICZOOM Group's return on assets of last year was 0.02936807. ==> 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.

ICZOOM Group's current Net Income (TTM) was 1.8. ICZOOM Group's current Cash Flow from Operations (TTM) was -3.8. ==> -3.8 <= 1.8 ==> CFROA <= ROA ==> Score 0.

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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=0.375/88.9045
=0.00421801

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=0.48/88.5715
=0.00541935

ICZOOM Group's gearing of this year was 0.00421801. ICZOOM Group's gearing of last year was 0.00541935. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=86.888/72.257
=1.20248557

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=88.404/78.658
=1.12390348

ICZOOM Group's current ratio of this year was 1.20248557. ICZOOM Group's current ratio of last year was 1.12390348. ==> This year's current ratio is higher. ==> Score 1.

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.

ICZOOM Group's number of shares in issue this year was 9.919. ICZOOM Group's number of shares in issue last year was 6.497. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=5.293/214.405
=0.02468692

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=7.814/290.376
=0.02690994

ICZOOM Group's gross margin of this year was 0.02468692. ICZOOM Group's gross margin of last year was 0.02690994. ==> 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 (Jun22)
=214.405/89.633
=2.39203195

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=290.376/87.51
=3.31820363

ICZOOM Group's asset turnover of this year was 2.39203195. ICZOOM Group's asset turnover of last year was 3.31820363. ==> 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+0+0+0+1+1+0+0+0
=3

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

ICZOOM Group has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

ICZOOM Group  (NAS:IZM) 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.


ICZOOM Group Piotroski F-Score Related Terms

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ICZOOM Group (ICZOOM Group) Business Description

Traded in Other Exchanges
N/A
Address
No. 7018 Cai Tian Road, Room 3801, Building A, Sunhope e·METRO, Futian District, Guangdong, Shenzhen, CHN, 518000
ICZOOM Group Inc is engaged in the sale of electronic component products to customers in China. These products are used by small and medium-sized enterprises (SMEs) in the consumer electronic industry, Internet of Things (IoT), automotive electronics, and industrial control segment. In addition to the sales of electronic component products, also provides services to customers such as temporary warehousing, logistic and shipping, and customs clearance and charges them additional service commission fees. The company earns maximum revenue from sale of electronic components.