GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Haidilao International Holding Ltd (OTCPK:HDALF) » Definitions » Piotroski F-Score

Haidilao International Holding (Haidilao International Holding) Piotroski F-Score : 9 (As of May. 11, 2024)


View and export this data going back to 2018. Start your Free Trial

What is Haidilao International Holding Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, indicates a very healthy situation.

The zones of discrimination were as such:

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

Haidilao International Holding has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

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

HDALF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 9
Current: 9

During the past 9 years, the highest Piotroski F-Score of Haidilao International Holding was 9. The lowest was 3. And the median was 7.


Haidilao International Holding Piotroski F-Score Historical Data

The historical data trend for Haidilao International Holding'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.

Haidilao International Holding Piotroski F-Score Chart

Haidilao International Holding Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 3.00 4.00 3.00 7.00 9.00

Haidilao International Holding Semi-Annual Data
Dec15 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 3.00 - 7.00 - 9.00

Competitive Comparison of Haidilao International Holding's Piotroski F-Score

For the Restaurants subindustry, Haidilao International Holding'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.


Haidilao International Holding's Piotroski F-Score Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Haidilao International Holding's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Haidilao International Holding'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was $630 Mil.
Cash Flow from Operations was $1,261 Mil.
Revenue was $5,806 Mil.
Gross Profit was $1,606 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (3075.169 + 3456.065) / 2 = $3265.617 Mil.
Total Assets at the begining of this year (Dec22) was $3,075 Mil.
Long-Term Debt & Capital Lease Obligation was $797 Mil.
Total Current Assets was $2,088 Mil.
Total Current Liabilities was $1,014 Mil.
Net Income was $197 Mil.

Revenue was $4,452 Mil.
Gross Profit was $1,132 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (4399.461 + 3075.169) / 2 = $3737.315 Mil.
Total Assets at the begining of last year (Dec21) was $4,399 Mil.
Long-Term Debt & Capital Lease Obligation was $943 Mil.
Total Current Assets was $1,507 Mil.
Total Current Liabilities was $1,037 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.

Haidilao International Holding's current Net Income (TTM) was 630. ==> 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.

Haidilao International Holding's current Cash Flow from Operations (TTM) was 1,261. ==> 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 (Dec22)
=630.106/3075.169
=0.20490126

ROA (Last Year)=Net Income/Total Assets (Dec21)
=197.151/4399.461
=0.04481253

Haidilao International Holding's return on assets of this year was 0.20490126. Haidilao International Holding's return on assets of last year was 0.04481253. ==> 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.

Haidilao International Holding's current Net Income (TTM) was 630. Haidilao International Holding's current Cash Flow from Operations (TTM) was 1,261. ==> 1,261 > 630 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=797.01/3265.617
=0.24406108

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=942.966/3737.315
=0.25231108

Haidilao International Holding's gearing of this year was 0.24406108. Haidilao International Holding's gearing of last year was 0.25231108. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=2087.762/1014.231
=2.05846794

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1507.034/1037.35
=1.45277293

Haidilao International Holding's current ratio of this year was 2.05846794. Haidilao International Holding's current ratio of last year was 1.45277293. ==> 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.

Haidilao International Holding's number of shares in issue this year was 5415. Haidilao International Holding's number of shares in issue last year was 5415. ==> 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
=1606.018/5805.628
=0.27663123

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1132.07/4452.09
=0.25427833

Haidilao International Holding's gross margin of this year was 0.27663123. Haidilao International Holding's gross margin of last year was 0.25427833. ==> 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 (Dec22)
=5805.628/3075.169
=1.88790535

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=4452.09/4399.461
=1.0119626

Haidilao International Holding's asset turnover of this year was 1.88790535. Haidilao International Holding's asset turnover of last year was 1.0119626. ==> 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
=1+1+1+1+1+1+1+1+1
=9

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

Haidilao International Holding has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Haidilao International Holding  (OTCPK:HDALF) 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.


Haidilao International Holding Piotroski F-Score Related Terms

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


Haidilao International Holding (Haidilao International Holding) Business Description

Traded in Other Exchanges
Address
No. 398 Yard, Zhongdong Road, 7th Floor, No. 1 Building, Dongxiaokou Town, Changping District, Beijing, CHN, 102218
Haidilao International is a Chinese hot pot restaurant operator that started in Sichuan in 1998. In 2022, the restaurant chain served over 276 million customers across more than the 1,300 stores it had in Greater China. With CNY 31 billion in 2022 systemwide sales, the firm is the second-largest restaurant company in China, behind Yum China (CNY 68 billion) but ahead of Xiabuxiabu and Jiumaojiu. All of Haidilao's restaurants are company-owned, as the firm is focusing more on the quality of its restaurants than quantity.Haidilao is known for serving Sichuan-style hot pot along with exceptional service. It's still looking to expand its store footprint, but expansion opportunities are now limited to only Greater China following the spinoff of Super Hi—the operator of Haidilao stores overseas.

Haidilao International Holding (Haidilao International Holding) Headlines