Aeon Credit Service (Asia) Co (HKSE:00900) Piotroski F-Score : 2 (As of May. 12, 2024)

Aeon Credit Service (Asia) Co Piotroski F-Score Chart

Aeon Credit Service (Asia) Co Annual Data
	Trend	Feb15	Feb16	Feb17	Feb18	Feb19	Feb20	Feb21	Feb22	Feb23	Feb24
Piotroski F-Score		Get a 7-Day Free Trial					3.00	3.00	3.00	5.00	2.00

Aeon Credit Service (Asia) Co Quarterly Data
	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Piotroski F-Score	Get a 7-Day Free Trial															5.00	N/A	3.00	N/A	2.00

Competitive Comparison of Aeon Credit Service (Asia) Co's Piotroski F-Score

For the Credit Services subindustry, Aeon Credit Service (Asia) 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.

Aeon Credit Service (Asia) Co's Piotroski F-Score Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Aeon Credit Service (Asia) Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Aeon Credit Service (Asia) 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.

*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.

Aeon Credit Service (Asia) Co's current Net Income (TTM) was 392. ==> 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.

Aeon Credit Service (Asia) Co's current Cash Flow from Operations (TTM) was -637. ==> Negative ==> Score 0.

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.

Aeon Credit Service (Asia) Co's return on assets of this year was 0.06074473. Aeon Credit Service (Asia) Co's return on assets of last year was 0.07340739. ==> 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.

Aeon Credit Service (Asia) Co's current Net Income (TTM) was 392. Aeon Credit Service (Asia) Co's current Cash Flow from Operations (TTM) was -637. ==> -637 <= 392 ==> 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.

Aeon Credit Service (Asia) Co's gearing of this year was 0.43928792. Aeon Credit Service (Asia) Co's gearing of last year was 0.37779867. ==> 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

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Aeon Credit Service (Asia) Co's current ratio of this year was 2.16453326. Aeon Credit Service (Asia) Co's current ratio of last year was 2.51739812. ==> 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.

Aeon Credit Service (Asia) Co's number of shares in issue this year was 418.766. Aeon Credit Service (Asia) Co's number of shares in issue last year was 418.766. ==> 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.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Aeon Credit Service (Asia) Co's net margin of this year was 0.25431371. Aeon Credit Service (Asia) Co's net margin of last year was 0.30198646. ==> Last year's net 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

Aeon Credit Service (Asia) Co's asset turnover of this year was 0.23885745. Aeon Credit Service (Asia) Co's asset turnover of last year was 0.24308171. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

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

Aeon Credit Service (Asia) Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Aeon Credit Service (Asia) Co  (HKSE:00900) 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.

Aeon Credit Service (Asia) Co Piotroski F-Score Related Terms

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Aeon Credit Service (Asia) Co (HKSE:00900) Business Description