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FSE Lifestyle Services (HKSE:00331) Piotroski F-Score : 5 (As of May. 26, 2024)


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What is FSE Lifestyle Services 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

FSE Lifestyle Services 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 FSE Lifestyle Services's Piotroski F-Score or its related term are showing as below:

HKSE:00331' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 5

During the past 11 years, the highest Piotroski F-Score of FSE Lifestyle Services was 8. The lowest was 4. And the median was 6.


FSE Lifestyle Services Piotroski F-Score Historical Data

The historical data trend for FSE Lifestyle Services'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.

FSE Lifestyle Services Piotroski F-Score Chart

FSE Lifestyle Services Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 7.00 6.00 6.00 5.00

FSE Lifestyle Services Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 -

Competitive Comparison of FSE Lifestyle Services's Piotroski F-Score

For the Engineering & Construction subindustry, FSE Lifestyle Services'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.


FSE Lifestyle Services's Piotroski F-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, FSE Lifestyle Services's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where FSE Lifestyle Services'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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was HK$523 Mil.
Cash Flow from Operations was HK$440 Mil.
Revenue was HK$7,767 Mil.
Gross Profit was HK$1,052 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was (3599.304 + 3990.434) / 2 = HK$3794.869 Mil.
Total Assets at the begining of this year (Jun22) was HK$3,599 Mil.
Long-Term Debt & Capital Lease Obligation was HK$292 Mil.
Total Current Assets was HK$3,652 Mil.
Total Current Liabilities was HK$2,929 Mil.
Net Income was HK$503 Mil.

Revenue was HK$6,967 Mil.
Gross Profit was HK$992 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was (3050.225 + 3599.304) / 2 = HK$3324.7645 Mil.
Total Assets at the begining of last year (Jun21) was HK$3,050 Mil.
Long-Term Debt & Capital Lease Obligation was HK$319 Mil.
Total Current Assets was HK$3,245 Mil.
Total Current Liabilities was HK$2,777 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.

FSE Lifestyle Services's current Net Income (TTM) was 523. ==> 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.

FSE Lifestyle Services's current Cash Flow from Operations (TTM) was 440. ==> 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 (Jun22)
=522.902/3599.304
=0.14527864

ROA (Last Year)=Net Income/Total Assets (Jun21)
=502.935/3050.225
=0.16488456

FSE Lifestyle Services's return on assets of this year was 0.14527864. FSE Lifestyle Services's return on assets of last year was 0.16488456. ==> 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.

FSE Lifestyle Services's current Net Income (TTM) was 523. FSE Lifestyle Services's current Cash Flow from Operations (TTM) was 440. ==> 440 <= 523 ==> CFROA <= ROA ==> Score 0.

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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=291.832/3794.869
=0.07690173

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=319.465/3324.7645
=0.0960865

FSE Lifestyle Services's gearing of this year was 0.07690173. FSE Lifestyle Services's gearing of last year was 0.0960865. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=3652.417/2928.985
=1.24699068

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=3245.037/2776.71
=1.16866255

FSE Lifestyle Services's current ratio of this year was 1.24699068. FSE Lifestyle Services's current ratio of last year was 1.16866255. ==> 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.

FSE Lifestyle Services's number of shares in issue this year was 450. FSE Lifestyle Services's number of shares in issue last year was 450. ==> 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
=1051.615/7767.209
=0.13539162

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=992.457/6966.935
=0.14245246

FSE Lifestyle Services's gross margin of this year was 0.13539162. FSE Lifestyle Services's gross margin of last year was 0.14245246. ==> 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 (Jun22)
=7767.209/3599.304
=2.15797526

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=6966.935/3050.225
=2.28407249

FSE Lifestyle Services's asset turnover of this year was 2.15797526. FSE Lifestyle Services's asset turnover of last year was 2.28407249. ==> 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+0+1+1+1+0+0
=5

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

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

FSE Lifestyle Services  (HKSE:00331) 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.


FSE Lifestyle Services Piotroski F-Score Related Terms

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FSE Lifestyle Services (HKSE:00331) Business Description

Traded in Other Exchanges
N/A
Address
Units 801-810, No. 8 Wang Hoi Road, 8th Floor, Chevalier Commercial Centre, Kowloon Bay, Kowloon, Hong Kong, HKG
FSE Lifestyle Services Ltd is an investment holding company. It operates in three segments: property and facility management services, E&M services and city essential services. The company along with its subsidiaries is principally engaged in the provision of property and facility management services, property agency and related services for buildings, car park management services, cleaning and management of waste disposal services, recycling, and environmental disposal services, security guarding and event services, insurance solutions services, and others. The company earns majority of its revenue from City essential services.
Executives
Doo Wai Hoi William 2202 Interest of your spouse
Doo Family Prosperity Holdings Limited
Fung Seng Holdings (x) Limited
Fungseng Prosperity Holdings Limited
Doo Cheng Sau Ha Amy 2201 Interest of corporation controlled by you
Fse Holdings Limited 2201 Interest of corporation controlled by you
Sino Spring Global Limited 2201 Interest of corporation controlled by you
Fse Management Company Limited 2101 Beneficial owner

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