Hong Seng Consolidated Bhd (XKLS:0041) Piotroski F-Score : 1 (As of Jun. 06, 2024)

Hong Seng Consolidated Bhd Piotroski F-Score Chart

Hong Seng Consolidated Bhd Annual Data
	Trend	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Mar19	Mar20	Sep22	Dec23
Piotroski F-Score		Get a 7-Day Free Trial					2.00	N/A	N/A	4.00	1.00

Hong Seng Consolidated Bhd Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Dec23
Piotroski F-Score	Get a 7-Day Free Trial															4.00	3.00	4.00	2.00	1.00

Competitive Comparison of Hong Seng Consolidated Bhd's Piotroski F-Score

For the Conglomerates subindustry, Hong Seng Consolidated Bhd'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.

Hong Seng Consolidated Bhd's Piotroski F-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Hong Seng Consolidated Bhd's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Hong Seng Consolidated Bhd'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.

Hong Seng Consolidated Bhd's current Net Income (TTM) was -24.82. ==> 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.

Hong Seng Consolidated Bhd's current Cash Flow from Operations (TTM) was -32.49. ==> 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.

Hong Seng Consolidated Bhd's return on assets of this year was -0.05746645. Hong Seng Consolidated Bhd's return on assets of last year was 0.35937275. ==> 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.

Hong Seng Consolidated Bhd's current Net Income (TTM) was -24.82. Hong Seng Consolidated Bhd's current Cash Flow from Operations (TTM) was -32.49. ==> -32.49 <= -24.82 ==> 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.

Hong Seng Consolidated Bhd's gearing of this year was 0.0530132. Hong Seng Consolidated Bhd's gearing of last year was 0.0321283. ==> 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

Hong Seng Consolidated Bhd's current ratio of this year was 9.76790203. Hong Seng Consolidated Bhd's current ratio of last year was 10.37747584. ==> 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.

Hong Seng Consolidated Bhd's number of shares in issue this year was 5108.417. Hong Seng Consolidated Bhd's number of shares in issue last year was 6813.36. ==> 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.

Hong Seng Consolidated Bhd's gross margin of this year was -1.58077337. Hong Seng Consolidated Bhd's gross margin of last year was 0.41919566. ==> 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

Hong Seng Consolidated Bhd's asset turnover of this year was 0.02795997. Hong Seng Consolidated Bhd's asset turnover of last year was 0.73359118. ==> 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

Hong Seng Consolidated Bhd has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

Hong Seng Consolidated Bhd  (XKLS:0041) 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.

Hong Seng Consolidated Bhd Piotroski F-Score Related Terms

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Hong Seng Consolidated Bhd (XKLS:0041) Business Description