GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Appotronics Corp Ltd (SHSE:688007) » Definitions » Piotroski F-Score

Appotronics (SHSE:688007) Piotroski F-Score : 7 (As of May. 14, 2024)


View and export this data going back to 2019. Start your Free Trial

What is Appotronics Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Appotronics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

SHSE:688007' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 7

During the past 8 years, the highest Piotroski F-Score of Appotronics was 8. The lowest was 2. And the median was 5.


Appotronics Piotroski F-Score Historical Data

The historical data trend for Appotronics'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.

Appotronics Piotroski F-Score Chart

Appotronics Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 5.00 3.00 7.00 4.00 6.00

Appotronics 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 4.00 6.00 8.00 6.00 7.00

Competitive Comparison of Appotronics's Piotroski F-Score

For the Consumer Electronics subindustry, Appotronics'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.


Appotronics's Piotroski F-Score Distribution in the Hardware Industry

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

* The bar in red indicates where Appotronics'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 61.26 + 53.645 + -25.372 + 44.543 = ¥134 Mil.
Cash Flow from Operations was 151.07 + 94.194 + 155.149 + 12.225 = ¥413 Mil.
Revenue was 614.236 + 577.38 + 562.728 + 445.039 = ¥2,199 Mil.
Gross Profit was 242.25 + 224.673 + 172.336 + 144.355 = ¥784 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4357.74 + 4340.275 + 4305.529 + 4220.571 + 4167.617) / 5 = ¥4278.3464 Mil.
Total Assets at the begining of this year (Mar23) was ¥4,358 Mil.
Long-Term Debt & Capital Lease Obligation was ¥417 Mil.
Total Current Assets was ¥2,885 Mil.
Total Current Liabilities was ¥883 Mil.
Net Income was 28.108 + 45.39 + 28.085 + 13.655 = ¥115 Mil.

Revenue was 744.182 + 606.484 + 665.338 + 459.013 = ¥2,475 Mil.
Gross Profit was 213.974 + 204.293 + 240.358 + 162.34 = ¥821 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(4078.684 + 4124.47 + 4186.583 + 4333.35 + 4357.74) / 5 = ¥4216.1654 Mil.
Total Assets at the begining of last year (Mar22) was ¥4,079 Mil.
Long-Term Debt & Capital Lease Obligation was ¥661 Mil.
Total Current Assets was ¥3,022 Mil.
Total Current Liabilities was ¥881 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.

Appotronics's current Net Income (TTM) was 134. ==> 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.

Appotronics's current Cash Flow from Operations (TTM) was 413. ==> 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)
=134.076/4357.74
=0.03076732

ROA (Last Year)=Net Income/Total Assets (Mar22)
=115.238/4078.684
=0.02825372

Appotronics's return on assets of this year was 0.03076732. Appotronics's return on assets of last year was 0.02825372. ==> 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.

Appotronics's current Net Income (TTM) was 134. Appotronics's current Cash Flow from Operations (TTM) was 413. ==> 413 > 134 ==> 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
=416.523/4278.3464
=0.09735607

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=660.565/4216.1654
=0.15667436

Appotronics's gearing of this year was 0.09735607. Appotronics's gearing of last year was 0.15667436. ==> 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
=2885.022/882.857
=3.2678248

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3022.039/881.379
=3.4287622

Appotronics's current ratio of this year was 3.2678248. Appotronics's current ratio of last year was 3.4287622. ==> 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.

Appotronics's number of shares in issue this year was 445.433. Appotronics's number of shares in issue last year was 455.155. ==> 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
=783.614/2199.383
=0.3562881

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=820.965/2475.017
=0.33170075

Appotronics's gross margin of this year was 0.3562881. Appotronics's gross margin of last year was 0.33170075. ==> 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)
=2199.383/4357.74
=0.50470726

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=2475.017/4078.684
=0.60681754

Appotronics's asset turnover of this year was 0.50470726. Appotronics's asset turnover of last year was 0.60681754. ==> 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+1+1+1+0+1+1+0
=7

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

Appotronics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Appotronics  (SHSE:688007) 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.


Appotronics Piotroski F-Score Related Terms

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


Appotronics (SHSE:688007) Business Description

Traded in Other Exchanges
N/A
Address
No. 63 Xuefu Road, Yuehai Street, 20-22 Floor, Hi-Tech Zone, Union Tower, Nanshan District, Guangdong Province, Shenzhen, CHN, 518052
Appotronics Corp Ltd is a China based company involved in the research and innovation of laser display technology and products. The company offers various laser display products namely Digital cinema projector, Venue projector, Education projector, Ultra mobile projector, and others. Geographically, it derives a majority of revenue from China.

Appotronics (SHSE:688007) Headlines

No Headlines