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Tong Petrotech (SZSE:300164) Piotroski F-Score : 5 (As of Jun. 09, 2024)


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What is Tong Petrotech 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

Tong Petrotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

SZSE:300164' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Tong Petrotech was 8. The lowest was 2. And the median was 5.


Tong Petrotech Piotroski F-Score Historical Data

The historical data trend for Tong Petrotech'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.

Tong Petrotech Piotroski F-Score Chart

Tong Petrotech 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 5.00 3.00 8.00 7.00 8.00

Tong Petrotech 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 6.00 8.00 5.00

Competitive Comparison of Tong Petrotech's Piotroski F-Score

For the Oil & Gas Equipment & Services subindustry, Tong Petrotech'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.


Tong Petrotech's Piotroski F-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Tong Petrotech's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Tong Petrotech'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 48.658 + 25.496 + -40.437 + 3.989 = ¥38 Mil.
Cash Flow from Operations was 27.396 + 26.059 + 65.245 + 22.007 = ¥141 Mil.
Revenue was 318.958 + 268.863 + 239.091 + 227.912 = ¥1,055 Mil.
Gross Profit was 128.176 + 93.975 + 63.966 + 60.734 = ¥347 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(1845.589 + 1825.893 + 1864.615 + 1828.973 + 1803.922) / 5 = ¥1833.7984 Mil.
Total Assets at the begining of this year (Mar23) was ¥1,846 Mil.
Long-Term Debt & Capital Lease Obligation was ¥40 Mil.
Total Current Assets was ¥872 Mil.
Total Current Liabilities was ¥372 Mil.
Net Income was 10.318 + 3.912 + 6.299 + 16.562 = ¥37 Mil.

Revenue was 180.229 + 181.712 + 267.128 + 202.387 = ¥831 Mil.
Gross Profit was 67.079 + 60.114 + 88.292 + 64.084 = ¥280 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1714.033 + 1741.57 + 1681.149 + 1743.781 + 1845.589) / 5 = ¥1745.2244 Mil.
Total Assets at the begining of last year (Mar22) was ¥1,714 Mil.
Long-Term Debt & Capital Lease Obligation was ¥10 Mil.
Total Current Assets was ¥948 Mil.
Total Current Liabilities was ¥513 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.

Tong Petrotech's current Net Income (TTM) was 38. ==> 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.

Tong Petrotech's current Cash Flow from Operations (TTM) was 141. ==> 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)
=37.706/1845.589
=0.02043033

ROA (Last Year)=Net Income/Total Assets (Mar22)
=37.091/1714.033
=0.02163961

Tong Petrotech's return on assets of this year was 0.02043033. Tong Petrotech's return on assets of last year was 0.02163961. ==> 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.

Tong Petrotech's current Net Income (TTM) was 38. Tong Petrotech's current Cash Flow from Operations (TTM) was 141. ==> 141 > 38 ==> 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
=39.821/1833.7984
=0.02171504

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=9.769/1745.2244
=0.00559756

Tong Petrotech's gearing of this year was 0.02171504. Tong Petrotech's gearing of last year was 0.00559756. ==> 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
=871.848/372.365
=2.3413801

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=947.828/512.766
=1.84846109

Tong Petrotech's current ratio of this year was 2.3413801. Tong Petrotech's current ratio of last year was 1.84846109. ==> 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.

Tong Petrotech's number of shares in issue this year was 586.63. Tong Petrotech's number of shares in issue last year was 559.537. ==> 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
=346.851/1054.824
=0.32882358

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=279.569/831.456
=0.33624028

Tong Petrotech's gross margin of this year was 0.32882358. Tong Petrotech's gross margin of last year was 0.33624028. ==> 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)
=1054.824/1845.589
=0.57153787

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=831.456/1714.033
=0.48508751

Tong Petrotech's asset turnover of this year was 0.57153787. Tong Petrotech's asset turnover of last year was 0.48508751. ==> 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+0+1+0+1+0+0+1
=5

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

Tong Petrotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Tong Petrotech  (SZSE:300164) 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.


Tong Petrotech Piotroski F-Score Related Terms

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Tong Petrotech (SZSE:300164) Business Description

Traded in Other Exchanges
N/A
Address
No. 51 Tangyan Road, 13th Floor, Block A, Life One Center, High-tech Zone, Xi'an, CHN, 710065
Tong Petrotech Corp is engaged in offering oil recovery, drilling and completion technical services, fracturing technology services, CBM technical services, and block integrating contracting services. The technical services provided by the company include compound perforating, drilling, and integrated big bag service.
Executives
Zhang Guo An Director
Zhang Zhi Jian Director
Ren Yan Zhong Directors, executives
Zhang Bai Shuang Executives
Wang Hong Wei Securities Affairs Representative
Zhang Ming Supervisors
Liu Yin Zhong Executives
Tian Yi Executives
Chen Yan Supervisors
Wu Chi Yan Director
Huang Jian Qing Director
Zhou Zhi Hua Supervisors

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