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Bestore Co (SHSE:603719) Piotroski F-Score : 4 (As of May. 22, 2024)


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What is Bestore Co 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

Bestore Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

SHSE:603719' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 4

During the past 9 years, the highest Piotroski F-Score of Bestore Co was 8. The lowest was 3. And the median was 5.


Bestore Co Piotroski F-Score Historical Data

The historical data trend for Bestore 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.

Bestore Co Piotroski F-Score Chart

Bestore Co Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 8.00 3.00 4.00 6.00 4.00

Bestore 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 6.00 5.00 5.00 4.00 4.00

Competitive Comparison of Bestore Co's Piotroski F-Score

For the Packaged Foods subindustry, Bestore 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.


Bestore Co's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Bestore Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bestore 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 40.616 + 1.998 + -11.019 + 62.483 = ¥94 Mil.
Cash Flow from Operations was 383.177 + 274.881 + 319.019 + -54.483 = ¥923 Mil.
Revenue was 1601.993 + 2012.775 + 2046.396 + 2451.352 = ¥8,113 Mil.
Gross Profit was 458.599 + 558.325 + 520.375 + 647.77 = ¥2,185 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4682.888 + 4765.813 + 5111.483 + 5521.461 + 4833.028) / 5 = ¥4982.9346 Mil.
Total Assets at the begining of this year (Mar23) was ¥4,683 Mil.
Long-Term Debt & Capital Lease Obligation was ¥319 Mil.
Total Current Assets was ¥2,984 Mil.
Total Current Liabilities was ¥1,946 Mil.
Net Income was 100.192 + 94.134 + 48.088 + 148.69 = ¥391 Mil.

Revenue was 1952.782 + 2108.341 + 2436.659 + 2384.725 = ¥8,883 Mil.
Gross Profit was 570.821 + 628.303 + 629.978 + 695.425 = ¥2,525 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(4570.761 + 4479.743 + 4727.475 + 5035.86 + 4682.888) / 5 = ¥4699.3454 Mil.
Total Assets at the begining of last year (Mar22) was ¥4,571 Mil.
Long-Term Debt & Capital Lease Obligation was ¥223 Mil.
Total Current Assets was ¥3,131 Mil.
Total Current Liabilities was ¥1,905 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.

Bestore Co's current Net Income (TTM) was 94. ==> 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.

Bestore Co's current Cash Flow from Operations (TTM) was 923. ==> 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)
=94.078/4682.888
=0.02008974

ROA (Last Year)=Net Income/Total Assets (Mar22)
=391.104/4570.761
=0.0855665

Bestore Co's return on assets of this year was 0.02008974. Bestore Co's return on assets of last year was 0.0855665. ==> 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.

Bestore Co's current Net Income (TTM) was 94. Bestore Co's current Cash Flow from Operations (TTM) was 923. ==> 923 > 94 ==> 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
=318.68/4982.9346
=0.06395428

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=222.913/4699.3454
=0.0474349

Bestore Co's gearing of this year was 0.06395428. Bestore Co's gearing of last year was 0.0474349. ==> Last year is lower than this year ==> Score 0.

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
=2983.631/1946.162
=1.5330846

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3131.011/1905.055
=1.64352788

Bestore Co's current ratio of this year was 1.5330846. Bestore Co's current ratio of last year was 1.64352788. ==> 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.

Bestore Co's number of shares in issue this year was 390.517. Bestore Co's number of shares in issue last year was 401.864. ==> 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
=2185.069/8112.516
=0.26934542

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2524.527/8882.507
=0.28421334

Bestore Co's gross margin of this year was 0.26934542. Bestore Co's gross margin of last year was 0.28421334. ==> 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 (Mar23)
=8112.516/4682.888
=1.73237455

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=8882.507/4570.761
=1.94333219

Bestore Co's asset turnover of this year was 1.73237455. Bestore Co's asset turnover of last year was 1.94333219. ==> 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+1+0+1+0+0+1+0+0
=4

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

Bestore Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Bestore Co  (SHSE:603719) 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.


Bestore Co Piotroski F-Score Related Terms

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Bestore Co (SHSE:603719) Business Description

Traded in Other Exchanges
N/A
Address
No. 8 Zaomaling Innovation Avenue, Dongxihu District, Hubei Province, Wuhan, CHN, 430000
Bestore Co Ltd is engaged in the procurement, sales and operation of snack foods. The company's products include bulk food including refrigerated frozen food, bulk cooked food; pre-packaged food including refrigerated frozen food; special food such as health products, infant formula milk powder, other infant formula; vegetables; dried fruits; flowers; daily necessities; agricultural products; agricultural and sideline products; hot foods including semi-finished foods; pastry foods including decorating foods; production and sale of homemade beverages including homemade fresh milk beverages; cold foods; raw foods including meat products, raw seafood foods; food packaging and processing; storage services, and venue rental.

Bestore Co (SHSE:603719) Headlines

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