Health and Happiness (H&H) International Holdings (OTCPK:BTSDF) 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.
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.
Health and Happiness (H&H) International Holdings Piotroski F-Score Related Terms
Health and Happiness (H&H) International Holdings Piotroski F-Score Historical Data
* 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.
Health and Happiness (H&H) International Holdings Piotroski F-Score Chart
Health and Happiness (H&H) International Holdings Annual Data
* 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.
Health and Happiness (H&H) International Holdings Piotroski F-Score vs Consumer Packaged Goods Industry
* 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.
Health and Happiness (H&H) International Holdings's current Net Income (TTM) was 28.
==> 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.
Health and Happiness (H&H) International Holdings's current Cash Flow from Operations (TTM) was 218.
==> 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.
Health and Happiness (H&H) International Holdings's return on assets of this year was 0.01076045. Health and Happiness (H&H) International Holdings's return on assets of last year was -0.00262886.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Health and Happiness (H&H) International Holdings's gearing of this year was 0.42212638. Health and Happiness (H&H) International Holdings's gearing of last year was 0.43128419.
==> 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
Health and Happiness (H&H) International Holdings's current ratio of this year was 1.14753. Health and Happiness (H&H) International Holdings's current ratio of last year was 1.1937492.
==> 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.
Health and Happiness (H&H) International Holdings's number of shares in issue this year was 641.779. Health and Happiness (H&H) International Holdings's number of shares in issue last year was 641.275.
==> 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.
Health and Happiness (H&H) International Holdings's gross margin of this year was 0.62449354. Health and Happiness (H&H) International Holdings's gross margin of last year was 0.60647312.
==> This year's gross margin is higher. ==> Score 1.
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
Health and Happiness (H&H) International Holdings's asset turnover of this year was 0.78745601. Health and Happiness (H&H) International Holdings's asset turnover of last year was 0.63865197.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Health and Happiness (H&H) International Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Health and Happiness (H&H) International Holdings (BTSDF) has a Piotroski F-Score of 7 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Health and Happiness (H&H) International Holdings and its competitors. This is near median its historical median of 7.00. Over the past decade, Health and Happiness (H&H) International Holdings' Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Health and Happiness (H&H) International Holdings ranks #218 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 11.4%.
Is Health and Happiness (H&H) International Holdings' Piotroski F-Score too high?
Health and Happiness (H&H) International Holdings' current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Health and Happiness (H&H) International Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Health and Happiness (H&H) International Holdings ranks #218 out of 1912 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Health and Happiness (H&H) International Holdings has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does Health and Happiness (H&H) International Holdings' Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Health and Happiness (H&H) International Holdings ranks #218 out of 1912 companies for Piotroski F-Score. This places Health and Happiness (H&H) International Holdings in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Health and Happiness (H&H) International Holdings' value of 7 is 40% above this benchmark. Historically, Health and Happiness (H&H) International Holdings' own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Health and Happiness (H&H) International Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,912 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Health and Happiness (H&H) International Holdings's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Health and Happiness (H&H) International Holdings and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Health and Happiness (H&H) International Holdings's current Piotroski F-Score is 7, which is near median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Health and Happiness (H&H) International Holdings stock overvalued right now?
Health and Happiness (H&H) International Holdings (BTSDF) has a current Piotroski F-Score of 7. The stock's GF Value™ is $1.88, compared to a current price of $1.60 — trading 14.9% below its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 40% above the Consumer Packaged Goods industry median of 5.00. Health and Happiness (H&H) International Holdings' overall GF Score™ is 87/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Health and Happiness (H&H) International Holdings (BTSDF), the current Piotroski F-Score is 7 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Health and Happiness (H&H) International Holdings (BTSDF) Overvalued in 2026?
Based on GuruFocus' analysis, Health and Happiness (H&H) International Holdings stock appears to be undervalued.
The current stock price of $1.60 is trading 14.9% below its estimated GF Value™ of $1.88.
Key valuation signals for BTSDF:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: $1.88 vs. price of $1.60 (14.9% below fair value)
Industry Position: 40% above the Consumer Packaged Goods median (#218 of 1912)
No single metric tells the full story. See the BTSDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Health and Happiness (H&H) International Holdings Business Description
Health and Happiness (H&H) International Holdings Ltd acts as an investment holding company that manufactures and sells premium pediatric nutrition and baby-care products. The company has core business segments namely Infant formulas; Probiotic and nutritional supplements, Adult nutrition and care products, Other pediatric products & Pet nutrition and care products segments. It generates maximum revenue from Adult nutrition and care products segment. The Infant formulas segment comprises the production of infant formulas for children under seven years old and milk formulas for expectant and nursing mothers. Geographically, the majority of revenue is derived from Mainland China.
87GF Score
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