China Eastern AirlinesCHEAF 53 Piotroski F-Score is 8 as of Jun. 25, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates CHEAF with a GF Score™ of 53/100 and a GF Value™ of $0.67 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 979 Transportation companies, China Eastern Airlines ranks better than 97.34% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Eastern Airlines has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for China Eastern Airlines's Piotroski F-Score or its related term are showing as below:
CHEAF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of China Eastern Airlines was 8. The lowest was 1. And the median was 5.
China Eastern Airlines (OTCPK:CHEAF) 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.
China Eastern Airlines Piotroski F-Score Related Terms
China Eastern Airlines Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for China Eastern Airlines'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.
CHEAF vs DAL, UAL, LUV: Piotroski F-Score Comparison
For the Airlines subindustry, China Eastern Airlines'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.
China Eastern Airlines Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, China Eastern Airlines's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China Eastern Airlines's Piotroski F-Score falls into.
* 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 (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was -60.721 + 496.104 + -530.441 + 236.938 = $142 Mil. Cash Flow from Operations was 1414.545 + 2291.009 + 1288.335 + 501.589 = $5,495 Mil. Revenue was 4653.78 + 5557.942 + 4760.194 + 5377.171 = $20,349 Mil. Gross Profit was 226.589 + 763.81 + -67.583 + 443.696 = $1,367 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(39355.386 + 39341.123 + 40339.721 + 41424.92 + 43198.3) / 5 = $40731.89 Mil. Total Assets at the begining of this year (Mar25) was $39,355 Mil. Long-Term Debt & Capital Lease Obligation was $17,198 Mil. Total Current Assets was $4,322 Mil. Total Current Liabilities was $18,210 Mil.
Net Income was -270.859 + 371.679 + -561.484 + -137.255 = $-598 Mil.
Revenue was 4274.47 + 5424.816 + 4056.615 + 4608.169 = $18,364 Mil. Gross Profit was 32.393 + 670.294 + -118.533 + 95.733 = $680 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(37961.675 + 37586.254 + 39041.408 + 37990.853 + 39355.386) / 5 = $38387.1152 Mil. Total Assets at the begining of last year (Mar24) was $37,962 Mil. Long-Term Debt & Capital Lease Obligation was $15,414 Mil. Total Current Assets was $3,121 Mil. Total Current Liabilities was $16,590 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.
China Eastern Airlines's current Net Income (TTM) was 142.
==> 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.
China Eastern Airlines's current Cash Flow from Operations (TTM) was 5,495.
==> 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.
China Eastern Airlines's return on assets of this year was 0.0036051. China Eastern Airlines's return on assets of last year was -0.0157506.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China Eastern Airlines's gearing of this year was 0.42222325. China Eastern Airlines's gearing of last year was 0.40154203.
==> 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
China Eastern Airlines's current ratio of this year was 0.23734096. China Eastern Airlines's current ratio of last year was 0.18814285.
==> 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.
China Eastern Airlines's number of shares in issue this year was 23328.571. China Eastern Airlines's number of shares in issue last year was 24875.
==> 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.
China Eastern Airlines's gross margin of this year was 0.06715348. China Eastern Airlines's gross margin of last year was 0.03702268.
==> 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
China Eastern Airlines's asset turnover of this year was 0.51705977. China Eastern Airlines's asset turnover of last year was 0.48375289.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Eastern Airlines has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
China Eastern Airlines (CHEAF) has a Piotroski F-Score of 8 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China Eastern Airlines and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, China Eastern Airlines' Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, China Eastern Airlines ranks #26 out of 979 companies in the Transportation industry, placing it in the top 2.7%.
Is China Eastern Airlines' Piotroski F-Score too high?
China Eastern Airlines' current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Transportation industry median Piotroski F-Score is 6.00. China Eastern Airlines' value of 8 is 33.3% above this industry median. Based on the distribution chart, China Eastern Airlines ranks #26 out of 979 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, China Eastern Airlines has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does China Eastern Airlines' Piotroski F-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, China Eastern Airlines ranks #26 out of 979 companies for Piotroski F-Score. This places China Eastern Airlines in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. China Eastern Airlines' value of 8 is 33.3% above this benchmark. Historically, China Eastern Airlines' own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, China Eastern Airlines 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 Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 979 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. China Eastern Airlines's current Piotroski F-Score of 8 is 33.3% 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 China Eastern Airlines and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Eastern Airlines's current Piotroski F-Score is 8, which is 60% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Eastern Airlines stock overvalued right now?
Based on GuruFocus' analysis, China Eastern Airlines (CHEAF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.67, compared to a current price of $0.47 — trading 29.8% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 33.3% above the Transportation industry median of 6.00. China Eastern Airlines' overall GF Score™ is 53/100 with 5 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 China Eastern Airlines (CHEAF), the current Piotroski F-Score is 8 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 China Eastern Airlines (CHEAF) Overvalued in 2026?
Based on GuruFocus' analysis, China Eastern Airlines stock appears to be undervalued.
The current stock price of $0.47 is trading 29.8% below its estimated GF Value™ of $0.67.
GuruFocus considers China Eastern Airlines to be Possible Value Trap.
Key valuation signals for CHEAF:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: $0.67 vs. price of $0.47 (29.8% below fair value)
Industry Position: 33.3% above the Transportation median (#26 of 979)
No single metric tells the full story. See the CHEAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Eastern Airlines Corp Ltd principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery and other extended transportation services, also manufacturing and maintenance of aircraft and aviation equipment, agency services, import and export business, tourism and hotel business; and other businesses related to air transportation. The Group has two reportable segments. Airline transportation operations mainly comprise the provision of passenger, cargo, mail delivery, and ground services. Other services, including tour operations, air catering, and other miscellaneous services, are not included within the airline transportation operations segment. Geographically, the company operates Domestic, Regional and International.
53GF Score
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