Anhui Expressway Co (FRA:HU7) Piotroski F-Score: 5 (As of Jul. 21, 2026) — 17% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:HU7 Anhui Expressway Co Ltd FRA:HU7
75 GF Score
Price €1.72
GF Value €1.08
Valuation Significantly Overvalued
! 10 Warning Signs
View Full Analysis

What is Anhui Expressway Co Piotroski F-Score?

Anhui Expressway Co FRA:HU7 +4.24% 75 Piotroski F-Score is 5 as of Jul. 21, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates FRA:HU7 with a GF Score™ of 75/100 and a GF Value™ of €1.08 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 1,729 Construction companies, Anhui Expressway Co ranks better than 52.81% 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

Anhui Expressway Co 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 Anhui Expressway Co's Piotroski F-Score or its related term are showing as below:

FRA:HU7' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Anhui Expressway Co was 8. The lowest was 3. And the median was 6.

Anhui Expressway Co  (FRA:HU7) 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.


Anhui Expressway Co Piotroski F-Score Related Terms


Anhui Expressway Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Anhui Expressway Co'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.

Anhui Expressway Co Piotroski F-Score Chart

Anhui Expressway Co 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 6.00 5.00 7.00 6.00 4.00

Anhui Expressway Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 Premium Member Only Premium Member Only 5.00 5.00 6.00 4.00 5.00

Anhui Expressway Co Piotroski F-Score Competitor Comparison

For the Infrastructure Operations subindustry, Anhui Expressway 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.


Anhui Expressway Co Piotroski F-Score vs Construction Industry

For the Construction industry and Industrials sector, Anhui Expressway Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Anhui Expressway Co's Piotroski F-Score falls into.


FRA:HU7
75GF Score
Anhui Expressway Co Ltd FRA:HU7
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 49.424 + 61.806 + 48.527 + 67.325 = €227.1 Mil.
Cash Flow from Operations was 79.589 + 122.845 + 119.18 + 89.474 = €411.1 Mil.
Revenue was 111.051 + 196.686 + 161.998 + 197.532 = €667.3 Mil.
Gross Profit was 73.781 + 99.326 + 93.353 + 104.07 = €370.5 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(3700.534 + 3639.015 + 3475.585 + 3687.063 + 3960.611) / 5 = €3692.5616 Mil.
Total Assets at the begining of this year (Mar25) was €3,700.5 Mil.
Long-Term Debt & Capital Lease Obligation was €1,720.8 Mil.
Total Current Assets was €506.7 Mil.
Total Current Liabilities was €372.2 Mil.
Net Income was 51.17 + 60.819 + 66.399 + 70.326 = €248.7 Mil.

Revenue was 243.832 + 273.861 + 288.412 + 359.999 = €1,166.1 Mil.
Gross Profit was 78.096 + 90.547 + 96.059 + 99.508 = €364.2 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(2892.867 + 2991.697 + 2905.083 + 3607.111 + 3700.534) / 5 = €3219.4584 Mil.
Total Assets at the begining of last year (Mar24) was €2,892.9 Mil.
Long-Term Debt & Capital Lease Obligation was €1,635.8 Mil.
Total Current Assets was €674.7 Mil.
Total Current Liabilities was €302.6 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.

Anhui Expressway Co's current Net Income (TTM) was 227.1. ==> 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.

Anhui Expressway Co's current Cash Flow from Operations (TTM) was 411.1. ==> 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 (Mar25)
=227.082/3700.534
=0.06136466

ROA (Last Year)=Net Income/Total Assets (Mar24)
=248.714/2892.867
=0.08597492

Anhui Expressway Co's return on assets of this year was 0.06136466. Anhui Expressway Co's return on assets of last year was 0.08597492. ==> 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.

Anhui Expressway Co's current Net Income (TTM) was 227.1. Anhui Expressway Co's current Cash Flow from Operations (TTM) was 411.1. ==> 411.1 > 227.1 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=1720.765/3692.5616
=0.46600847

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1635.782/3219.4584
=0.50809229

Anhui Expressway Co's gearing of this year was 0.46600847. Anhui Expressway Co's gearing of last year was 0.50809229. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=506.725/372.195
=1.36145032

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=674.712/302.629
=2.22950213

Anhui Expressway Co's current ratio of this year was 1.36145032. Anhui Expressway Co's current ratio of last year was 2.22950213. ==> 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.

Anhui Expressway Co's number of shares in issue this year was 1708.367. Anhui Expressway Co's number of shares in issue last year was 1658.593. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=370.53/667.267
=0.55529496

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=364.21/1166.104
=0.31233063

Anhui Expressway Co's gross margin of this year was 0.55529496. Anhui Expressway Co's gross margin of last year was 0.31233063. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=667.267/3700.534
=0.18031641

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1166.104/2892.867
=0.40309631

Anhui Expressway Co's asset turnover of this year was 0.18031641. Anhui Expressway Co's asset turnover of last year was 0.40309631. ==> 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+0+1+0
=5

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

Anhui Expressway Co 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?
Anhui Expressway Co (FRA:HU7) has a Piotroski F-Score of 5 as of Jul. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Anhui Expressway Co and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Anhui Expressway Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Anhui Expressway Co ranks #816 out of 1729 companies in the Construction industry, placing it in the top 47.2%.
Is Anhui Expressway Co's Piotroski F-Score too high?
Anhui Expressway Co'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 3.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Anhui Expressway Co's value of 5 is 0% at this industry median. Based on the distribution chart, Anhui Expressway Co ranks #816 out of 1729 companies in the Construction industry, which is above the industry midpoint. Overall, Anhui Expressway Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Anhui Expressway Co's Piotroski F-Score compare to competitors?
According to the Construction industry distribution chart, Anhui Expressway Co ranks #816 out of 1729 companies for Piotroski F-Score. This puts Anhui Expressway Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Anhui Expressway Co's value of 5 is 0% at this benchmark. Historically, Anhui Expressway Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Anhui Expressway Co 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,729 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. Anhui Expressway Co'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 Anhui Expressway Co and its competitors. For the Construction 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. Anhui Expressway Co'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 Anhui Expressway Co stock overvalued right now?
Based on GuruFocus' analysis, Anhui Expressway Co (FRA:HU7) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.08, compared to a current price of €1.72 — trading 59.3% above 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 Construction industry median of 5.00. Anhui Expressway Co's overall GF Score™ is 75/100 with 10 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 Anhui Expressway Co (FRA:HU7), the current Piotroski F-Score is 5 as of Jul. 21, 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 Anhui Expressway Co (FRA:HU7) Overvalued in 2026?

Based on GuruFocus' analysis, Anhui Expressway Co stock appears to be overvalued. The current stock price of €1.72 is trading 59.3% above its estimated GF Value™ of €1.08. GuruFocus considers Anhui Expressway Co to be Significantly Overvalued.

Key valuation signals for FRA:HU7:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: €1.08 vs. price of €1.72 (59.3% above fair value)
  • GF Score™: 75/100 with 10 warning signs
  • Industry Position: 0% at the Construction median (#816 of 1729)

No single metric tells the full story. See the FRA:HU7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Anhui Expressway Co Business Description

Address No. 520, West Wangjiang Road, Anhui, Hefei, CHN, 230088
Anhui Expressway Co Ltd is engaged in the investment, construction, operation, and management of toll roads within Anhui province. The company acquires operating expressway assets through various means such as investment and construction, acquisition, or cooperative operation. The company provides toll service for vehicles, collects vehicles' tolls according to the charging standard, maintains repairs, and carries out safety maintenance for the operating expressways. All of the company's external revenue is derived from customers based in Mainland China.
75GF Score

Get the complete analysis for FRA:HU7

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

€1.72
Price
€1.08
GF Value