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GZUHY (Guangzhou R&F Properties Co) Piotroski F-Score : 3 (As of Dec. 15, 2024)


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What is Guangzhou R&F Properties Co Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Guangzhou R&F Properties Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Guangzhou R&F Properties Co's Piotroski F-Score or its related term are showing as below:

GZUHY' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 5
Current: 3

During the past 13 years, the highest Piotroski F-Score of Guangzhou R&F Properties Co was 5. The lowest was 2. And the median was 3.


Guangzhou R&F Properties Co Piotroski F-Score Historical Data

The historical data trend for Guangzhou R&F Properties 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.

* Premium members only.

Guangzhou R&F Properties Co Piotroski F-Score Chart

Guangzhou R&F Properties Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 4.00 3.00 5.00 3.00

Guangzhou R&F Properties Co Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 - 3.00 -

Competitive Comparison of Guangzhou R&F Properties Co's Piotroski F-Score

For the Real Estate - Development subindustry, Guangzhou R&F Properties 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.


Guangzhou R&F Properties Co's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Guangzhou R&F Properties Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Guangzhou R&F Properties Co's Piotroski F-Score falls into.


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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was $-2,824 Mil.
Cash Flow from Operations was $-219 Mil.
Revenue was $5,075 Mil.
Gross Profit was $269 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (52916.926 + 46898.998) / 2 = $49907.962 Mil.
Total Assets at the begining of this year (Dec22) was $52,917 Mil.
Long-Term Debt & Capital Lease Obligation was $11,081 Mil.
Total Current Assets was $31,699 Mil.
Total Current Liabilities was $27,596 Mil.
Net Income was $-2,257 Mil.

Revenue was $5,048 Mil.
Gross Profit was $549 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (62572.392 + 52916.926) / 2 = $57744.659 Mil.
Total Assets at the begining of last year (Dec21) was $62,572 Mil.
Long-Term Debt & Capital Lease Obligation was $11,949 Mil.
Total Current Assets was $36,147 Mil.
Total Current Liabilities was $29,723 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.

Guangzhou R&F Properties Co's current Net Income (TTM) was -2,824. ==> 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.

Guangzhou R&F Properties Co's current Cash Flow from Operations (TTM) was -219. ==> Negative ==> Score 0.

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 (Dec22)
=-2824.078/52916.926
=-0.05336814

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-2257.218/62572.392
=-0.0360737

Guangzhou R&F Properties Co's return on assets of this year was -0.05336814. Guangzhou R&F Properties Co's return on assets of last year was -0.0360737. ==> 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.

Guangzhou R&F Properties Co's current Net Income (TTM) was -2,824. Guangzhou R&F Properties Co's current Cash Flow from Operations (TTM) was -219. ==> -219 > -2,824 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=11080.699/49907.962
=0.22202267

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=11949.251/57744.659
=0.20693258

Guangzhou R&F Properties Co's gearing of this year was 0.22202267. Guangzhou R&F Properties Co's gearing of last year was 0.20693258. ==> 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

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=31698.544/27595.774
=1.14867385

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=36147.001/29722.84
=1.2161355

Guangzhou R&F Properties Co's current ratio of this year was 1.14867385. Guangzhou R&F Properties Co's current ratio of last year was 1.2161355. ==> 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.

Guangzhou R&F Properties Co's number of shares in issue this year was 187.618. Guangzhou R&F Properties Co's number of shares in issue last year was 187.618. ==> 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
=268.793/5075.325
=0.05296075

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=548.924/5047.922
=0.10874257

Guangzhou R&F Properties Co's gross margin of this year was 0.05296075. Guangzhou R&F Properties Co's gross margin of last year was 0.10874257. ==> 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 (Dec22)
=5075.325/52916.926
=0.09591118

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=5047.922/62572.392
=0.08067331

Guangzhou R&F Properties Co's asset turnover of this year was 0.09591118. Guangzhou R&F Properties Co's asset turnover of last year was 0.08067331. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+0+0+1+0+1
=3

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

Guangzhou R&F Properties Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Guangzhou R&F Properties Co  (OTCPK:GZUHY) 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.


Guangzhou R&F Properties Co Piotroski F-Score Related Terms

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Guangzhou R&F Properties Co Business Description

Traded in Other Exchanges
Address
No. 10 Huaxia Road, 45-54th Floor, R&F Center, Pearl River New Town, Guangzhou, CHN, 510623
Guangzhou R&F Properties Co Ltd. is principally engaged in the development and sale of properties, property investment, hotel operations, as well as the provision other property development related services. The Company operates its business through four segments: Property Development, Property Investment, Hotel Operations and Others. The Company mainly focuses on mass residential property development projects on a variety of scales. The Company operates its business in domestic market and overseas markets.

Guangzhou R&F Properties Co Headlines