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Guangdong Leadyo IC Testing Co (SHSE:688135) Piotroski F-Score : 4 (As of May. 29, 2024)


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What is Guangdong Leadyo IC Testing 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

Guangdong Leadyo IC Testing 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 Guangdong Leadyo IC Testing Co's Piotroski F-Score or its related term are showing as below:

SHSE:688135' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 6
Current: 4

During the past 9 years, the highest Piotroski F-Score of Guangdong Leadyo IC Testing Co was 6. The lowest was 3. And the median was 4.


Guangdong Leadyo IC Testing Co Piotroski F-Score Historical Data

The historical data trend for Guangdong Leadyo IC Testing 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 Leadyo IC Testing Co Piotroski F-Score Chart

Guangdong Leadyo IC Testing Co Annual Data
Trend Dec13 Dec14 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 6.00 4.00 6.00 4.00 3.00

Guangdong Leadyo IC Testing 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 4.00 4.00 4.00 3.00 4.00

Competitive Comparison of Guangdong Leadyo IC Testing Co's Piotroski F-Score

For the Semiconductors subindustry, Guangdong Leadyo IC Testing 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 Leadyo IC Testing Co's Piotroski F-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Guangdong Leadyo IC Testing Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Guangdong Leadyo IC Testing 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 14.907 + 7.803 + -7.291 + 0.338 = ¥15.8 Mil.
Cash Flow from Operations was 44.161 + 52.918 + 68.058 + 55.589 = ¥220.7 Mil.
Revenue was 138.863 + 131.485 + 127.391 + 116.945 = ¥514.7 Mil.
Gross Profit was 44.908 + 37.357 + 33.234 + 30.8 = ¥146.3 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(1848.713 + 1892.527 + 2034.499 + 2074.242 + 2165.642) / 5 = ¥2003.1246 Mil.
Total Assets at the begining of this year (Mar23) was ¥1,848.7 Mil.
Long-Term Debt & Capital Lease Obligation was ¥416.6 Mil.
Total Current Assets was ¥364.3 Mil.
Total Current Liabilities was ¥450.7 Mil.
Net Income was 3.171 + 12.062 + 6.356 + 6.301 = ¥27.9 Mil.

Revenue was 116.191 + 110.629 + 115.573 + 105.345 = ¥447.7 Mil.
Gross Profit was 38.9 + 46.378 + 39.122 + 37.097 = ¥161.5 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1377.463 + 1384.674 + 1518.379 + 1693.987 + 1848.713) / 5 = ¥1564.6432 Mil.
Total Assets at the begining of last year (Mar22) was ¥1,377.5 Mil.
Long-Term Debt & Capital Lease Obligation was ¥275.7 Mil.
Total Current Assets was ¥420.8 Mil.
Total Current Liabilities was ¥325.4 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 Leadyo IC Testing Co's current Net Income (TTM) was 15.8. ==> 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 Leadyo IC Testing Co's current Cash Flow from Operations (TTM) was 220.7. ==> 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)
=15.757/1848.713
=0.00852323

ROA (Last Year)=Net Income/Total Assets (Mar22)
=27.89/1377.463
=0.02024737

Guangdong Leadyo IC Testing Co's return on assets of this year was 0.00852323. Guangdong Leadyo IC Testing Co's return on assets of last year was 0.02024737. ==> 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.

Guangdong Leadyo IC Testing Co's current Net Income (TTM) was 15.8. Guangdong Leadyo IC Testing Co's current Cash Flow from Operations (TTM) was 220.7. ==> 220.7 > 15.8 ==> 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
=416.592/2003.1246
=0.20797109

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=275.674/1564.6432
=0.17618969

Guangdong Leadyo IC Testing Co's gearing of this year was 0.20797109. Guangdong Leadyo IC Testing Co's gearing of last year was 0.17618969. ==> 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
=364.256/450.688
=0.8082221

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=420.807/325.401
=1.29319517

Guangdong Leadyo IC Testing Co's current ratio of this year was 0.8082221. Guangdong Leadyo IC Testing Co's current ratio of last year was 1.29319517. ==> 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.

Guangdong Leadyo IC Testing Co's number of shares in issue this year was 0. Guangdong Leadyo IC Testing Co's number of shares in issue last year was 210.049. ==> 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
=146.299/514.684
=0.28425014

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=161.497/447.738
=0.36069532

Guangdong Leadyo IC Testing Co's gross margin of this year was 0.28425014. Guangdong Leadyo IC Testing Co's gross margin of last year was 0.36069532. ==> 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)
=514.684/1848.713
=0.27840124

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=447.738/1377.463
=0.32504539

Guangdong Leadyo IC Testing Co's asset turnover of this year was 0.27840124. Guangdong Leadyo IC Testing Co's asset turnover of last year was 0.32504539. ==> 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

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

Guangdong Leadyo IC Testing Co  (SHSE:688135) 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 Leadyo IC Testing Co Piotroski F-Score Related Terms

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Guangdong Leadyo IC Testing Co (SHSE:688135) Business Description

Traded in Other Exchanges
N/A
Address
No. 2, Xinfeng East 2nd Road, Wanjiang Street, Mowu, Guangdong Province, Dongguan, CHN, 523050
Guangdong Leadyo IC Testing Co Ltd is engaged in integrated circuit testing program development, 12-inch and 8-inch wafer testing services, finished chip testing services, and supporting services related to integrated circuit testing. It specializes in the semiconductor back-end processing step including the manufacture of integrated circuits of wafer testing, wafer thinning, wafer cutting, product testing and IC taping one-stop service, IC testing and provide software development, chip testing analysis, Load Board MPW production and engineering validation and Probe Card batch production, and other related services.
Executives
Yuan Jun Director, core technical staff
Zhang Yi Feng Directors, senior managers, core technical personn
Gu Shi Tao Directors, senior managers, core technical personn
Zhang Li Ping Supervisors
Qu Hao Director
Lu Xu Kun Core technical personnel
Zheng Chao Sheng Core technical personnel
Deng Xian Xue Supervisors
Xu Jie Feng Supervisors
Huang Zhu Director
Huang Jiang Director

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