GURUFOCUS.COM » STOCK LIST » Technology » Hardware » InfoVision Optoelectronics Kunshan Co Ltd (SHSE:688055) » Definitions » Piotroski F-Score

InfoVision Optoelectronics Kunshan Co (SHSE:688055) Piotroski F-Score : 5 (As of Oct. 09, 2024)


View and export this data going back to 2020. Start your Free Trial

What is InfoVision Optoelectronics Kunshan 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

InfoVision Optoelectronics Kunshan Co 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 InfoVision Optoelectronics Kunshan Co's Piotroski F-Score or its related term are showing as below:

SHSE:688055' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 5

During the past 9 years, the highest Piotroski F-Score of InfoVision Optoelectronics Kunshan Co was 8. The lowest was 2. And the median was 5.


InfoVision Optoelectronics Kunshan Co Piotroski F-Score Historical Data

The historical data trend for InfoVision Optoelectronics Kunshan 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.

InfoVision Optoelectronics Kunshan Co Piotroski F-Score Chart

InfoVision Optoelectronics Kunshan 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 7.00 8.00 6.00 3.00 3.00

InfoVision Optoelectronics Kunshan Co Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 2.00 3.00 5.00 5.00

Competitive Comparison of InfoVision Optoelectronics Kunshan Co's Piotroski F-Score

For the Electronic Components subindustry, InfoVision Optoelectronics Kunshan 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.


InfoVision Optoelectronics Kunshan Co's Piotroski F-Score Distribution in the Hardware Industry

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

* The bar in red indicates where InfoVision Optoelectronics Kunshan 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 (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was -46.006 + -43.143 + -58.78 + -63.28 = ¥-211 Mil.
Cash Flow from Operations was 220.001 + 135.794 + -10.001 + 114.273 = ¥460 Mil.
Revenue was 1008.99 + 1016.715 + 926.82 + 861.867 = ¥3,814 Mil.
Gross Profit was 74.916 + 85.487 + 64.402 + 56.555 = ¥281 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(7115.255 + 7547.114 + 7367.976 + 7242.487 + 7172.995) / 5 = ¥7289.1654 Mil.
Total Assets at the begining of this year (Jun23) was ¥7,115 Mil.
Long-Term Debt & Capital Lease Obligation was ¥325 Mil.
Total Current Assets was ¥3,489 Mil.
Total Current Liabilities was ¥2,422 Mil.
Net Income was 20.417 + -9.559 + -111.929 + -77.338 = ¥-178 Mil.

Revenue was 872.167 + 869.908 + 767.743 + 989.252 = ¥3,499 Mil.
Gross Profit was 121.256 + 140.699 + 37.524 + 61.832 = ¥361 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(7720.854 + 6960.108 + 6877.899 + 6825.633 + 7115.255) / 5 = ¥7099.9498 Mil.
Total Assets at the begining of last year (Jun22) was ¥7,721 Mil.
Long-Term Debt & Capital Lease Obligation was ¥453 Mil.
Total Current Assets was ¥3,452 Mil.
Total Current Liabilities was ¥2,029 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.

InfoVision Optoelectronics Kunshan Co's current Net Income (TTM) was -211. ==> Negative ==> Score 0.

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.

InfoVision Optoelectronics Kunshan Co's current Cash Flow from Operations (TTM) was 460. ==> 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 (Jun23)
=-211.209/7115.255
=-0.02968397

ROA (Last Year)=Net Income/Total Assets (Jun22)
=-178.409/7720.854
=-0.02310742

InfoVision Optoelectronics Kunshan Co's return on assets of this year was -0.02968397. InfoVision Optoelectronics Kunshan Co's return on assets of last year was -0.02310742. ==> 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.

InfoVision Optoelectronics Kunshan Co's current Net Income (TTM) was -211. InfoVision Optoelectronics Kunshan Co's current Cash Flow from Operations (TTM) was 460. ==> 460 > -211 ==> 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: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=325.202/7289.1654
=0.04461444

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=453.257/7099.9498
=0.06383947

InfoVision Optoelectronics Kunshan Co's gearing of this year was 0.04461444. InfoVision Optoelectronics Kunshan Co's gearing of last year was 0.06383947. ==> 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: Jun24)=Total Current Assets/Total Current Liabilities
=3489.374/2421.793
=1.44082256

Current Ratio (Last Year: Jun23)=Total Current Assets/Total Current Liabilities
=3451.956/2028.571
=1.70166881

InfoVision Optoelectronics Kunshan Co's current ratio of this year was 1.44082256. InfoVision Optoelectronics Kunshan Co's current ratio of last year was 1.70166881. ==> 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.

InfoVision Optoelectronics Kunshan Co's number of shares in issue this year was 3332.27. InfoVision Optoelectronics Kunshan Co's number of shares in issue last year was 3348.935. ==> 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
=281.36/3814.392
=0.07376274

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=361.311/3499.07
=0.10325915

InfoVision Optoelectronics Kunshan Co's gross margin of this year was 0.07376274. InfoVision Optoelectronics Kunshan Co's gross margin of last year was 0.10325915. ==> 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 (Jun23)
=3814.392/7115.255
=0.53608648

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=3499.07/7720.854
=0.45319728

InfoVision Optoelectronics Kunshan Co's asset turnover of this year was 0.53608648. InfoVision Optoelectronics Kunshan Co's asset turnover of last year was 0.45319728. ==> 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
=0+1+0+1+1+0+1+0+1
=5

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

InfoVision Optoelectronics Kunshan Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

InfoVision Optoelectronics Kunshan Co  (SHSE:688055) 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.


InfoVision Optoelectronics Kunshan Co Piotroski F-Score Related Terms

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


InfoVision Optoelectronics Kunshan Co Business Description

Traded in Other Exchanges
N/A
Address
No. 1, Longteng Road, Kunshan Development Zone, Jiangsu Province, Suzhou, CHN, 215300
InfoVision Optoelectronics Kunshan Co Ltd is engaged in production and sales of thin film transistor liquid crystal displays (TFT-LCD). The company manufactures liquid crystal displays for mobile communications, tablets, desktop computers, laptop, industrial applications, and vehicle applications.

InfoVision Optoelectronics Kunshan Co Headlines

No Headlines