Schroder Asian Total Return Investment Co (CHIX:ATRl) 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.
Schroder Asian Total Return Investment Co Piotroski F-Score Related Terms
Schroder Asian Total Return Investment Co 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.
Schroder Asian Total Return Investment Co Piotroski F-Score Chart
Schroder Asian Total Return Investment Co Annual Data
CHIX:ATRL vs BLK, BX, KKR: Piotroski F-Score Comparison
For the Asset Management subindustry, Schroder Asian Total Return Investment 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.
Schroder Asian Total Return Investment Co Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Schroder Asian Total Return Investment Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Schroder Asian Total Return Investment Co'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.
*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.
Schroder Asian Total Return Investment Co's current Net Income (TTM) was 64.13.
==> 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.
Schroder Asian Total Return Investment Co's current Cash Flow from Operations (TTM) was 4.04.
==> 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.
Schroder Asian Total Return Investment Co's return on assets of this year was 0.12575421. Schroder Asian Total Return Investment Co's return on assets of last year was 0.11399825.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Schroder Asian Total Return Investment Co's gearing of this year was 0. Schroder Asian Total Return Investment Co's gearing of last year was 0.05389615.
==> 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
* 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.
Schroder Asian Total Return Investment Co's current ratio of this year was 141.25218543. Schroder Asian Total Return Investment Co's current ratio of last year was 15.04561145.
==> 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.
Schroder Asian Total Return Investment Co's number of shares in issue this year was 93.524. Schroder Asian Total Return Investment Co's number of shares in issue last year was 95.377.
==> 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.
Schroder Asian Total Return Investment Co's net margin of this year was 0.96276891. Schroder Asian Total Return Investment Co's net margin of last year was 0.95051011.
==> This year's net 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
Schroder Asian Total Return Investment Co's asset turnover of this year was 0.13061723. Schroder Asian Total Return Investment Co's asset turnover of last year was 0.11993376.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Schroder Asian Total Return Investment Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Schroder Asian Total Return Investment Co (CHIX:ATRL) has a Piotroski F-Score of 8 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Schroder Asian Total Return Investment Co and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Schroder Asian Total Return Investment Co's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Schroder Asian Total Return Investment Co ranks #12 out of 1597 companies in the Asset Management industry, placing it in the top 0.8%.
Is Schroder Asian Total Return Investment Co's Piotroski F-Score too high?
Schroder Asian Total Return Investment Co's current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Asset Management industry median Piotroski F-Score is 5.00. Schroder Asian Total Return Investment Co's value of 8 is 60% above this industry median. Based on the distribution chart, Schroder Asian Total Return Investment Co ranks #12 out of 1597 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Schroder Asian Total Return Investment Co has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does Schroder Asian Total Return Investment Co's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Schroder Asian Total Return Investment Co ranks #12 out of 1597 companies for Piotroski F-Score. This places Schroder Asian Total Return Investment Co in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Schroder Asian Total Return Investment Co's value of 8 is 60% above this benchmark. Historically, Schroder Asian Total Return Investment Co's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Schroder Asian Total Return Investment Co 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,597 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. Schroder Asian Total Return Investment Co's current Piotroski F-Score of 8 is 60% 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 Schroder Asian Total Return Investment Co and its competitors. For the Asset Management 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. Schroder Asian Total Return Investment Co's current Piotroski F-Score is 8, which is 33% above 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 Schroder Asian Total Return Investment Co stock overvalued right now?
Schroder Asian Total Return Investment Co (CHIX:ATRL) has a current Piotroski F-Score of 8. The stock's GF Value™ is £5.99, compared to a current price of £4.78 — trading 20.2% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Asset Management industry median of 5.00. Schroder Asian Total Return Investment Co's overall GF Score™ is 50/100 with 7 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 Schroder Asian Total Return Investment Co (CHIX:ATRL), the current Piotroski F-Score is 8 as of Jun. 27, 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 Schroder Asian Total Return Investment Co (CHIX:ATRL) Overvalued in 2026?
Based on GuruFocus' analysis, Schroder Asian Total Return Investment Co stock appears to be undervalued.
The current stock price of £4.78 is trading 20.2% below its estimated GF Value™ of £5.99.
Key valuation signals for CHIX:ATRL:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: £5.99 vs. price of £4.78 (20.2% below fair value)
Industry Position: 60% above the Asset Management median (#12 of 1597)
No single metric tells the full story. See the CHIX:ATRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Schroder Asian Total Return Investment Co Business Description
Schroder Asian Total Return Investment Co PLC is a UK-based investment trust company. It seeks to provide a high rate of total return through investment in equities and equity-related securities of companies trading in the Asia-Pacific region except for Japan. The company invests in a diversified portfolio of 40-70 companies operating predominantly in Asia, including Australasia but excluding Japan. It offers a degree of capital preservation through the tactical use of derivative instruments. The company focuses on investing in companies with sound balance sheets, professional management, and capital allocation policies. It may use derivatives such as listed futures, call options, long puts, OTC instruments to protect the capital value of the portfolio, efficient portfolio management.
50GF Score
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