* 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.
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CSSC Offshore & Marine Engineering (Group) Co Piotroski F-Score Chart
CSSC Offshore & Marine Engineering (Group) Co Annual Data
For the Aerospace & Defense subindustry, CSSC Offshore & Marine Engineering (Group) 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.
CSSC Offshore & Marine Engineering (Group) Co's Piotroski F-Score Distribution in the Aerospace & Defense Industry
* The bar in red indicates where CSSC Offshore & Marine Engineering (Group) 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 (Sep24) TTM:
Last Year (Sep23) TTM:
Net Income was 26.106 + 16.701 + 141.535 + 44.5 = HK$229 Mil. Cash Flow from Operations was 3265.627 + -3696.881 + -2319.418 + 726.028 = HK$-2,025 Mil. Revenue was 6971.31 + 3049.106 + 6374.932 + 4358.445 = HK$20,754 Mil. Gross Profit was 489.351 + 279.027 + 421.852 + 499.852 = HK$1,690 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(52995.39 + 55632.331 + 55227.347 + 53941.04 + 56880.806) / 5 = HK$54935.3828 Mil. Total Assets at the begining of this year (Sep23) was HK$52,995 Mil. Long-Term Debt & Capital Lease Obligation was HK$4,605 Mil. Total Current Assets was HK$32,112 Mil. Total Current Liabilities was HK$25,666 Mil.
Net Income was 742.299 + -30.371 + 43.019 + 12.373 = HK$767 Mil.
Revenue was 6137.149 + 2162.795 + 4466.42 + 4065.572 = HK$16,832 Mil. Gross Profit was 437.142 + 108.981 + 267.107 + 303.457 = HK$1,117 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(53991.296 + 51936.578 + 52597.933 + 51262.052 + 52995.39) / 5 = HK$52556.6498 Mil. Total Assets at the begining of last year (Sep22) was HK$53,991 Mil. Long-Term Debt & Capital Lease Obligation was HK$4,101 Mil. Total Current Assets was HK$30,349 Mil. Total Current Liabilities was HK$26,732 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.
CSSC Offshore & Marine Engineering (Group) Co's current Net Income (TTM) was 229.
==> 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.
CSSC Offshore & Marine Engineering (Group) Co's current Cash Flow from Operations (TTM) was -2,025.
==> 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.
CSSC Offshore & Marine Engineering (Group) Co's return on assets of this year was 0.00431815. CSSC Offshore & Marine Engineering (Group) Co's return on assets of last year was 0.01421192.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
CSSC Offshore & Marine Engineering (Group) Co's gearing of this year was 0.08381784. CSSC Offshore & Marine Engineering (Group) Co's gearing of last year was 0.07802984.
==> 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
CSSC Offshore & Marine Engineering (Group) Co's current ratio of this year was 1.25113777. CSSC Offshore & Marine Engineering (Group) Co's current ratio of last year was 1.13530731.
==> 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.
CSSC Offshore & Marine Engineering (Group) Co's number of shares in issue this year was 1413.216. CSSC Offshore & Marine Engineering (Group) Co's number of shares in issue last year was 1430.994.
==> 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.
CSSC Offshore & Marine Engineering (Group) Co's gross margin of this year was 0.08143485. CSSC Offshore & Marine Engineering (Group) Co's gross margin of last year was 0.06634335.
==> 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
CSSC Offshore & Marine Engineering (Group) Co's asset turnover of this year was 0.39161506. CSSC Offshore & Marine Engineering (Group) Co's asset turnover of last year was 0.31175277.
==> 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
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Que. 9
=
1
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0
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0
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0
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0
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1
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1
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1
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1
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CSSC Offshore & Marine Engineering (Group) Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
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.
CSSC Offshore & Marine Engineering (Group) Co Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of CSSC Offshore & Marine Engineering (Group) Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
CSSC Offshore & Marine Engineering (Group) Co Business Description
CSSC Offshore & Marine Engineering (Group) Co Ltd manufactures military and civil ships and conducts off-shore engineering. The functions of the boats have a wide range, including military, patrol, rescue, and transportation. Multiple subsidiaries allow the company to produce multiple ships and supply customized maintenance for clients. The company operates through the following business segments: Shipbuilding and related business which generates key revenue, Steel Structure engineering, Ship maintenance, and others.
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