Piotroski F-Score is 8, 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
Kingsoft has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Kingsoft's Piotroski F-Score or its related term are showing as below:
HKSE:03888'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Kingsoft was 8. The lowest was 3. And the median was 5.
Kingsoft Piotroski F-Score Historical Data
The historical data trend for Kingsoft'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.
Competitive Comparison of Kingsoft's Piotroski F-Score
For the Electronic Gaming & Multimedia subindustry, Kingsoft'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.
Kingsoft's Piotroski F-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Kingsoft's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kingsoft'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 219.078 + 62.55 + 30.564 + 224.7 = HK$537 Mil. Cash Flow from Operations was 412.977 + 2127.394 + -592.611 + 1896.196 = HK$3,844 Mil. Revenue was 2244.17 + 2399.197 + 2209.43 + 2526.777 = HK$9,380 Mil. Gross Profit was 1851.314 + 2003.638 + 1798.771 + 2074.078 = HK$7,728 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(35609.749 + 36240.331 + 38162.742 + 36558.525 + 38495.233) / 5 = HK$37013.316 Mil. Total Assets at the begining of this year (Dec22) was HK$35,610 Mil. Long-Term Debt & Capital Lease Obligation was HK$3,062 Mil. Total Current Assets was HK$29,415 Mil. Total Current Liabilities was HK$5,338 Mil.
Net Income was 121.008 + -164.349 + -6770.773 + 53.121 = HK$-6,761 Mil.
Revenue was 2284.741 + 2149.989 + 2054.326 + 2359.003 = HK$8,848 Mil. Gross Profit was 1852.352 + 1720.382 + 1639.518 + 1944.022 = HK$7,156 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(44736.052 + 0 + 43276.401 + 0 + 35609.749) / 5 = HK$41207.40066667 Mil. Total Assets at the begining of last year (Dec21) was HK$44,736 Mil. Long-Term Debt & Capital Lease Obligation was HK$117 Mil. Total Current Assets was HK$26,287 Mil. Total Current Liabilities was HK$7,692 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.
Kingsoft's current Net Income (TTM) was 537.
==> 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.
Kingsoft's return on assets of this year was 0.01507711. Kingsoft's return on assets of last year was -0.15113075.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Kingsoft's current ratio of this year was 5.51041003. Kingsoft's current ratio of last year was 3.41737684.
==> 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.
Kingsoft's number of shares in issue this year was 1296.663. Kingsoft's number of shares in issue last year was 1359.534.
==> 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.
Kingsoft's gross margin of this year was 0.8238968. Kingsoft's gross margin of last year was 0.80879592.
==> 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
Kingsoft's asset turnover of this year was 0.26339905. Kingsoft's asset turnover of last year was 0.19778364.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kingsoft has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
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.
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.
Kingsoft Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Kingsoft's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Kingsoft Corp Ltd is a Chinese software and Internet services company. The company's operating segment includes entertainment software and others and office software and services. It generates maximum revenue from the entertainment software and others segment. The entertainment software and others segment is engaged in the research and development of games, and the provision of online games, mobile games and casual game services. Geographically, it derives a majority of revenue from Mainland China.
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