GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Guangdong Ellington Electronics Technology Co Ltd (SHSE:603328) » Definitions » Piotroski F-Score

Guangdong Ellington Electronics Technology Co (SHSE:603328) Piotroski F-Score : 8 (As of May. 31, 2024)


View and export this data going back to 2014. Start your Free Trial

What is Guangdong Ellington Electronics Technology Co Piotroski F-Score?

Good Sign:

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

Guangdong Ellington Electronics Technology Co 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 Guangdong Ellington Electronics Technology Co's Piotroski F-Score or its related term are showing as below:

SHSE:603328' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Guangdong Ellington Electronics Technology Co was 8. The lowest was 4. And the median was 6.


Guangdong Ellington Electronics Technology Co Piotroski F-Score Historical Data

The historical data trend for Guangdong Ellington Electronics Technology Co'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.

Guangdong Ellington Electronics Technology Co Piotroski F-Score Chart

Guangdong Ellington Electronics Technology Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 6.00 7.00 7.00

Guangdong Ellington Electronics Technology Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 7.00 6.00 7.00 7.00 8.00

Competitive Comparison of Guangdong Ellington Electronics Technology Co's Piotroski F-Score

For the Electronic Components subindustry, Guangdong Ellington Electronics Technology Co'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.


Guangdong Ellington Electronics Technology Co's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Guangdong Ellington Electronics Technology Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Guangdong Ellington Electronics Technology Co'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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 107.97 + 114.102 + 56.37 + 104.692 = ¥383 Mil.
Cash Flow from Operations was 173.934 + 196.995 + 74.286 + 131.453 = ¥577 Mil.
Revenue was 810.95 + 810.823 + 765.698 + 818.718 = ¥3,206 Mil.
Gross Profit was 159.391 + 213.746 + 150.871 + 180.72 = ¥705 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(5102.914 + 5178.662 + 5053.849 + 5019.365 + 5041.916) / 5 = ¥5079.3412 Mil.
Total Assets at the begining of this year (Mar23) was ¥5,103 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0 Mil.
Total Current Assets was ¥2,411 Mil.
Total Current Liabilities was ¥1,063 Mil.
Net Income was 84.814 + 101.264 + 44.406 + 76.559 = ¥307 Mil.

Revenue was 783.321 + 817.35 + 743.817 + 789.856 = ¥3,134 Mil.
Gross Profit was 131.625 + 138.21 + 144.455 + 166.441 = ¥581 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(5105.41 + 4875.386 + 4933.003 + 4926.359 + 5102.914) / 5 = ¥4988.6144 Mil.
Total Assets at the begining of last year (Mar22) was ¥5,105 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0 Mil.
Total Current Assets was ¥2,533 Mil.
Total Current Liabilities was ¥1,366 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.

Guangdong Ellington Electronics Technology Co's current Net Income (TTM) was 383. ==> 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.

Guangdong Ellington Electronics Technology Co's current Cash Flow from Operations (TTM) was 577. ==> 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 (Mar23)
=383.134/5102.914
=0.07508141

ROA (Last Year)=Net Income/Total Assets (Mar22)
=307.043/5105.41
=0.06014071

Guangdong Ellington Electronics Technology Co's return on assets of this year was 0.07508141. Guangdong Ellington Electronics Technology Co's return on assets of last year was 0.06014071. ==> 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.

Guangdong Ellington Electronics Technology Co's current Net Income (TTM) was 383. Guangdong Ellington Electronics Technology Co's current Cash Flow from Operations (TTM) was 577. ==> 577 > 383 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=0/5079.3412
=0

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=0/4988.6144
=0

Guangdong Ellington Electronics Technology Co's gearing of this year was 0. Guangdong Ellington Electronics Technology Co's gearing of last year was 0. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=2410.59/1062.971
=2.26778529

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=2533.364/1366.392
=1.8540536

Guangdong Ellington Electronics Technology Co's current ratio of this year was 2.26778529. Guangdong Ellington Electronics Technology Co's current ratio of last year was 1.8540536. ==> 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.

Guangdong Ellington Electronics Technology Co's number of shares in issue this year was 997.067. Guangdong Ellington Electronics Technology Co's number of shares in issue last year was 994.274. ==> 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
=704.728/3206.189
=0.21980239

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=580.731/3134.344
=0.18527992

Guangdong Ellington Electronics Technology Co's gross margin of this year was 0.21980239. Guangdong Ellington Electronics Technology Co's gross margin of last year was 0.18527992. ==> 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 (Mar23)
=3206.189/5102.914
=0.62830551

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=3134.344/5105.41
=0.61392601

Guangdong Ellington Electronics Technology Co's asset turnover of this year was 0.62830551. Guangdong Ellington Electronics Technology Co's asset turnover of last year was 0.61392601. ==> 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+0+1+1
=8

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

Guangdong Ellington Electronics Technology Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Guangdong Ellington Electronics Technology Co  (SHSE:603328) 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.


Guangdong Ellington Electronics Technology Co Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Guangdong Ellington Electronics Technology Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Guangdong Ellington Electronics Technology Co (SHSE:603328) Business Description

Traded in Other Exchanges
N/A
Address
88 Gaoping Industrial Zone, Sanjiao town, Guang dong province, Zhongshan, CHN
Guangdong Ellington Electronics Technology Co Ltd is a Chinese manufacturer and seller of printed circuit board (PCB). It offers high precision and high density double-sided and multi-layered PCBs. The products of the company are used in computers and computer peripherals, consumer electronics, communications product, industrial control, automotive electronics, medical instruction, and others. The company sells its products in China, and also exports it to the other international countries.
Executives
Tang Run Guang Directors, senior managers
Liu Yu Jing senior management
Jin Ao senior management
Lin Hai senior management

Guangdong Ellington Electronics Technology Co (SHSE:603328) Headlines

No Headlines