China Resources Beer (Holdings) CoFRA:CHK -2.11%91 Piotroski F-Score is 7 as of Jun. 27, 2026, which is at its 10-year median of 7.00. GuruFocus rates FRA:CHK with a GF Score™ of 91/100 and a GF Value™ of €3.27 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 209 Beverages - Alcoholic companies, China Resources Beer (Holdings) Co ranks better than 89.47% on this metric.
Good Sign:
Piotroski F-Score is 7, 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 Resources Beer (Holdings) Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for China Resources Beer (Holdings) Co's Piotroski F-Score or its related term are showing as below:
FRA:CHK'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of China Resources Beer (Holdings) Co was 8. The lowest was 5. And the median was 7.
China Resources Beer (Holdings) Co (FRA:CHK) 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 Resources Beer (Holdings) Co Piotroski F-Score Related Terms
China Resources Beer (Holdings) 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.
China Resources Beer (Holdings) Co Piotroski F-Score Chart
For the Beverages - Brewers subindustry, China Resources Beer (Holdings) 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.
China Resources Beer (Holdings) Co Piotroski F-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, China Resources Beer (Holdings) Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China Resources Beer (Holdings) 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.
China Resources Beer (Holdings) Co's current Net Income (TTM) was 409.
==> 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 Resources Beer (Holdings) Co's current Cash Flow from Operations (TTM) was 864.
==> 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 Resources Beer (Holdings) Co's return on assets of this year was 0.04496064. China Resources Beer (Holdings) Co's return on assets of last year was 0.06767151.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China Resources Beer (Holdings) Co's gearing of this year was 0.01871738. China Resources Beer (Holdings) Co's gearing of last year was 0.01083696.
==> 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 Resources Beer (Holdings) Co's current ratio of this year was 0.82350436. China Resources Beer (Holdings) Co's current ratio of last year was 0.59983134.
==> 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 Resources Beer (Holdings) Co's number of shares in issue this year was 3244.177. China Resources Beer (Holdings) Co's number of shares in issue last year was 3244.177.
==> 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 Resources Beer (Holdings) Co's gross margin of this year was 0.43069635. China Resources Beer (Holdings) Co's gross margin of last year was 0.42642673.
==> 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 Resources Beer (Holdings) Co's asset turnover of this year was 0.50662471. China Resources Beer (Holdings) Co's asset turnover of last year was 0.55169673.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Resources Beer (Holdings) Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
China Resources Beer (Holdings) Co (FRA:CHK) has a Piotroski F-Score of 7 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China Resources Beer (Holdings) Co and its competitors. This is near median its historical median of 7.00. Over the past decade, China Resources Beer (Holdings) Co's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, China Resources Beer (Holdings) Co ranks #22 out of 209 companies in the Beverages - Alcoholic industry, placing it in the top 10.5%.
Is China Resources Beer (Holdings) Co's Piotroski F-Score too high?
China Resources Beer (Holdings) Co's 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 Beverages - Alcoholic industry median Piotroski F-Score is 5.00. China Resources Beer (Holdings) Co's value of 7 is 40% above this industry median. Based on the distribution chart, China Resources Beer (Holdings) Co ranks #22 out of 209 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, China Resources Beer (Holdings) Co has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Resources Beer (Holdings) Co's Piotroski F-Score compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, China Resources Beer (Holdings) Co ranks #22 out of 209 companies for Piotroski F-Score. This places China Resources Beer (Holdings) Co in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. China Resources Beer (Holdings) Co's value of 7 is 40% above this benchmark. Historically, China Resources Beer (Holdings) Co's 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, China Resources Beer (Holdings) 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 Beverages - Alcoholic company?
The median Piotroski F-Score among Beverages - Alcoholic companies is 5.00, based on 209 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 Resources Beer (Holdings) Co'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 China Resources Beer (Holdings) Co and its competitors. For the Beverages - Alcoholic 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 Resources Beer (Holdings) Co'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 China Resources Beer (Holdings) Co stock overvalued right now?
Based on GuruFocus' analysis, China Resources Beer (Holdings) Co (FRA:CHK) is currently considered Modestly Undervalued. The stock's GF Value™ is €3.27, compared to a current price of €2.32 — trading 29% 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 Beverages - Alcoholic industry median of 5.00. China Resources Beer (Holdings) Co's overall GF Score™ is 91/100 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 Resources Beer (Holdings) Co (FRA:CHK), the current Piotroski F-Score is 7 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 China Resources Beer (Holdings) Co (FRA:CHK) Overvalued in 2026?
Based on GuruFocus' analysis, China Resources Beer (Holdings) Co stock appears to be undervalued.
The current stock price of €2.32 is trading 29% below its estimated GF Value™ of €3.27.
GuruFocus considers China Resources Beer (Holdings) Co to be Modestly Undervalued.
Key valuation signals for FRA:CHK:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: €3.27 vs. price of €2.32 (29% below fair value)
Industry Position: 40% above the Beverages - Alcoholic median (#22 of 209)
No single metric tells the full story. See the FRA:CHK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Resources Beer (Holdings) Co Business Description
China Resources Beer, or CR Beer, was originally a conglomerate enterprise with operations across retail, beer, food, and beverage industries. In September 2015, the company disposed of all its non-beer businesses and became a pure beer producer. Through a series of mergers and acquisitions, the company achieved its leadership position in China's beer industry. Amid the premiumization trend in the domestic beer market, CR Beer acquired Heineken China in 2019, which allows CR Beer access to a premium international beer brand and also leverages its sophisticated distribution network to grow Heineken's sales and market share. CR Beer is now China's largest brewer, with a volume share of about 26%, versus 15% of Tsingtao and 19% of Budweiser APAC, based on Euromonitor data.
91GF Score
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