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Sipai Health Technology Co (FRA:AX1) 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.
Sipai Health Technology Co Piotroski F-Score Related Terms
Sipai Health Technology 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.
Sipai Health Technology Co Piotroski F-Score Chart
FRA:AX1 vs MCK, COR, CAH: Piotroski F-Score Comparison
For the Medical Distribution subindustry, Sipai Health Technology 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.
Sipai Health Technology Co Piotroski F-Score vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Sipai Health Technology Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Sipai Health Technology 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.
Sipai Health Technology Co's current Net Income (TTM) was -15.1.
==> 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.
Sipai Health Technology Co's current Cash Flow from Operations (TTM) was 0.8.
==> 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.
Sipai Health Technology Co's return on assets of this year was -0.05071096. Sipai Health Technology Co's return on assets of last year was -0.11745669.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Sipai Health Technology Co's gearing of this year was 0.0062219. Sipai Health Technology Co's gearing of last year was 0.01026016.
==> 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
Sipai Health Technology Co's current ratio of this year was 1.82911763. Sipai Health Technology Co's current ratio of last year was 1.91019409.
==> 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.
Sipai Health Technology Co's number of shares in issue this year was 602.055. Sipai Health Technology Co's number of shares in issue last year was 639.032.
==> 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.
Sipai Health Technology Co's gross margin of this year was 0.15032854. Sipai Health Technology Co's gross margin of last year was 0.08464336.
==> 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
Sipai Health Technology Co's asset turnover of this year was 0.84510408. Sipai Health Technology Co's asset turnover of last year was 1.65641484.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Que. 1
+
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+
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0
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1
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Sipai Health Technology Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Sipai Health Technology Co (FRA:AX1) has a Piotroski F-Score of 6 as of Aug. 20, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Sipai Health Technology Co and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, Sipai Health Technology Co's Piotroski F-Score has ranged from 4.00 to 6.00. According to the industry distribution chart, Sipai Health Technology Co ranks #32 out of 113 companies in the Medical Distribution industry, placing it in the top 28.3%.
Is Sipai Health Technology Co's Piotroski F-Score too high?
Sipai Health Technology Co's current Piotroski F-Score of 6 is 50% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 6.00. The Medical Distribution industry median Piotroski F-Score is 5.00. Sipai Health Technology Co's value of 6 is 20% above this industry median. Based on the distribution chart, Sipai Health Technology Co ranks #32 out of 113 companies in the Medical Distribution industry, which is above the industry midpoint. Overall, Sipai Health Technology Co has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.
How does Sipai Health Technology Co's Piotroski F-Score compare to MCK and COR?
According to the Medical Distribution industry distribution chart, Sipai Health Technology Co ranks #32 out of 113 companies for Piotroski F-Score. This puts Sipai Health Technology Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Sipai Health Technology Co's value of 6 is 20% above this benchmark. Historically, Sipai Health Technology Co's own Piotroski F-Score has ranged from 4.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Sipai Health Technology 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 a Medical Distribution company?
The median Piotroski F-Score among Medical Distribution companies is 5.00, based on 113 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. Sipai Health Technology Co's current Piotroski F-Score of 6 is 20% 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 Sipai Health Technology Co and its competitors. For the Medical Distribution 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. Sipai Health Technology Co's current Piotroski F-Score is 6, which is 50% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sipai Health Technology Co stock overvalued right now?
Sipai Health Technology Co (FRA:AX1) has a current Piotroski F-Score of 6. The stock's GF Value™ is €0.22, compared to a current price of €0.14 — trading 36.8% below its estimated fair value. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Medical Distribution industry median of 5.00. Sipai Health Technology Co's overall GF Score™ is 64/100 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 Sipai Health Technology Co (FRA:AX1), the current Piotroski F-Score is 6 as of Aug. 20, 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 Sipai Health Technology Co (FRA:AX1) Overvalued in 2026?
Based on GuruFocus' analysis, Sipai Health Technology Co stock appears to be undervalued.
The current stock price of €0.14 is trading 36.8% below its estimated GF Value™ of €0.22.
Key valuation signals for FRA:AX1:
Piotroski F-Score: 6 (50% above median its 10-year median of 4.00)
GF Value™: €0.22 vs. price of €0.14 (36.8% below fair value)
Industry Position: 20% above the Medical Distribution median (#32 of 113)
No single metric tells the full story. See the FRA:AX1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sipai Health Technology Co Ltd is a medical technology and health management company in China. The company has three reportable operating segments: Specialty Pharmacy Business - engaged in the operation and distribution of specialty pharmacy stores and pharmaceutical products; Physician Research Assistance Business - offering pharmaceutical companies and other clinical trial institutions site management organization services; Commercial Insurance Services Business - rendering insurance brokerage services to insurance companies and health management services to insurance carriers and enterprise clients. The company generates key revenue from the Specialty Pharmacy Business. Almost all of the company's revenues were derived from operations in the PRC.
64GF Score
Get the complete analysis for FRA:AX1
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