CHFLF (China Feihe) Piotroski F-Score: 5 (As of Jun. 26, 2026) — 17% Below Median


CHFLF China Feihe Ltd CHFLF
57 GF Score
Price $0.35
GF Value $0.51
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is China Feihe Piotroski F-Score?

China Feihe CHFLF 57 Piotroski F-Score is 5 as of Jun. 26, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates CHFLF with a GF Score™ of 57/100 and a GF Value™ of $0.51 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, China Feihe ranks better than 52.07% on this metric.

The zones of discrimination were as such:

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

China Feihe 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 China Feihe's Piotroski F-Score or its related term are showing as below:

CHFLF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 5

During the past 10 years, the highest Piotroski F-Score of China Feihe was 9. The lowest was 4. And the median was 6.

China Feihe  (OTCPK:CHFLF) 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.


China Feihe Piotroski F-Score Related Terms


China Feihe Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for China Feihe'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.

China Feihe Piotroski F-Score Chart

China Feihe Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 4.00 9.00 5.00

China Feihe Semi-Annual Data
Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 4.00 0.00 9.00 0.00 5.00

CHFLF vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, China Feihe'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 Feihe Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, China Feihe's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where China Feihe's Piotroski F-Score falls into.


CHFLF
57GF Score
China Feihe Ltd CHFLF
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was $275 Mil.
Cash Flow from Operations was $314 Mil.
Revenue was $2,572 Mil.
Gross Profit was $1,672 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (4906.905 + 4832.852) / 2 = $4869.8785 Mil.
Total Assets at the begining of this year (Dec24) was $4,907 Mil.
Long-Term Debt & Capital Lease Obligation was $36 Mil.
Total Current Assets was $2,876 Mil.
Total Current Liabilities was $958 Mil.
Net Income was $490 Mil.

Revenue was $2,850 Mil.
Gross Profit was $1,891 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (5069.141 + 4906.905) / 2 = $4988.023 Mil.
Total Assets at the begining of last year (Dec23) was $5,069 Mil.
Long-Term Debt & Capital Lease Obligation was $74 Mil.
Total Current Assets was $3,056 Mil.
Total Current Liabilities was $905 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 Feihe's current Net Income (TTM) was 275. ==> 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 Feihe's current Cash Flow from Operations (TTM) was 314. ==> 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 (Dec24)
=275.366/4906.905
=0.05611806

ROA (Last Year)=Net Income/Total Assets (Dec23)
=490.355/5069.141
=0.09673335

China Feihe's return on assets of this year was 0.05611806. China Feihe's return on assets of last year was 0.09673335. ==> 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.

China Feihe's current Net Income (TTM) was 275. China Feihe's current Cash Flow from Operations (TTM) was 314. ==> 314 > 275 ==> CFROA > ROA ==> Score 1.

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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=35.539/4869.8785
=0.00729772

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=74.014/4988.023
=0.01483834

China Feihe's gearing of this year was 0.00729772. China Feihe's gearing of last year was 0.01483834. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=2876.139/958.274
=3.00137435

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=3055.831/905.274
=3.37558684

China Feihe's current ratio of this year was 3.00137435. China Feihe's current ratio of last year was 3.37558684. ==> 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.

China Feihe's number of shares in issue this year was 9049.257. China Feihe's number of shares in issue last year was 9054.57. ==> 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
=1671.882/2571.641
=0.65012263

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1890.588/2849.802
=0.6634103

China Feihe's gross margin of this year was 0.65012263. China Feihe's gross margin of last year was 0.6634103. ==> 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 (Dec24)
=2571.641/4906.905
=0.52408616

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=2849.802/5069.141
=0.56218637

China Feihe's asset turnover of this year was 0.52408616. China Feihe's asset turnover of last year was 0.56218637. ==> 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+1+1+0+1+0+0
=5

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

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

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
China Feihe (CHFLF) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China Feihe and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, China Feihe's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, China Feihe ranks #916 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 47.9%.
Is China Feihe's Piotroski F-Score too high?
China Feihe's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. China Feihe's value of 5 is 0% at this industry median. Based on the distribution chart, China Feihe ranks #916 out of 1911 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, China Feihe has a GF Score™ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Feihe's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, China Feihe ranks #916 out of 1911 companies for Piotroski F-Score. This puts China Feihe in the upper half of its industry. The industry median Piotroski F-Score is 5.00. China Feihe's value of 5 is 0% at this benchmark. Historically, China Feihe's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, China Feihe has consistently been at 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 1,911 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 Feihe's current Piotroski F-Score of 5 is 0% at 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 Feihe 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. China Feihe's current Piotroski F-Score is 5, which is 17% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Feihe stock overvalued right now?
Based on GuruFocus' analysis, China Feihe (CHFLF) is currently considered Significantly Undervalued. The stock's GF Value™ is $0.51, compared to a current price of $0.35 — trading 31.4% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Consumer Packaged Goods industry median of 5.00. China Feihe's overall GF Score™ is 57/100 with 4 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 Feihe (CHFLF), the current Piotroski F-Score is 5 as of Jun. 26, 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 Feihe (CHFLF) Overvalued in 2026?

Based on GuruFocus' analysis, China Feihe stock appears to be undervalued. The current stock price of $0.35 is trading 31.4% below its estimated GF Value™ of $0.51. GuruFocus considers China Feihe to be Significantly Undervalued.

Key valuation signals for CHFLF:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: $0.51 vs. price of $0.35 (31.4% below fair value)
  • GF Score™: 57/100 with 4 warning signs
  • Industry Position: 0% at the Consumer Packaged Goods median (#916 of 1911)

No single metric tells the full story. See the CHFLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


China Feihe Business Description

Other Exchanges CFEIY:USA06186:Hong Kong
Address 10 Jiuxianqiao Road, Block C, 16th Floor, Star City International Building, Chaoyang District, Beijing, CHN, 100016
China Feihe is China's largest infant milk formula producer, with a premium market positioning among domestic and foreign competing brands. The company utilizes the flagship Astrobaby lineup to promote its "more suitable for Chinese babies" proposition. It has a nationwide distributor network covering maternity stores, supermarkets and traditional retailers, as well as a direct sales network in e-commerce.
57GF Score

Get the complete analysis for CHFLF

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.35
Price
$0.51
GF Value