* 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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Nanjing Panda Electronics Co Piotroski F-Score Chart
Competitive Comparison of Nanjing Panda Electronics Co's Piotroski F-Score
For the Electronic Components subindustry, Nanjing Panda Electronics 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.
Nanjing Panda Electronics Co's Piotroski F-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Nanjing Panda Electronics Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nanjing Panda Electronics 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.
This Year (Dec24) TTM:
Last Year (Dec23) TTM:
Net Income was -49.886 + -23.98 + -33.835 + -96.013 = HK$-204 Mil. Cash Flow from Operations was -24.971 + -118.716 + -137.357 + -7.752 = HK$-289 Mil. Revenue was 525.773 + 825.003 + 636.352 + 872.914 = HK$2,860 Mil. Gross Profit was 59.58 + 116.159 + 114.095 + 169.513 = HK$459 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(6060.581 + 5773.946 + 5722.936 + 5811.637 + 5680.878) / 5 = HK$5809.9956 Mil. Total Assets at the begining of this year (Dec23) was HK$6,061 Mil. Long-Term Debt & Capital Lease Obligation was HK$5 Mil. Total Current Assets was HK$3,983 Mil. Total Current Liabilities was HK$2,011 Mil.
Net Income was -34.616 + 3.338 + -4.693 + -225.479 = HK$-261 Mil.
Revenue was 635.696 + 880.216 + 625.879 + 1056.577 = HK$3,198 Mil. Gross Profit was 82.426 + 137.329 + 108.92 + 235.001 = HK$564 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(6549.856 + 6348.581 + 6187.311 + 6052.525 + 6060.581) / 5 = HK$6239.7708 Mil. Total Assets at the begining of last year (Dec22) was HK$6,550 Mil. Long-Term Debt & Capital Lease Obligation was HK$10 Mil. Total Current Assets was HK$4,271 Mil. Total Current Liabilities was HK$2,080 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.
Nanjing Panda Electronics Co's current Net Income (TTM) was -204.
==> 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.
Nanjing Panda Electronics Co's current Cash Flow from Operations (TTM) was -289.
==> 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.
Nanjing Panda Electronics Co's return on assets of this year was -0.03361295. Nanjing Panda Electronics Co's return on assets of last year was -0.03991691.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nanjing Panda Electronics Co's gearing of this year was 0.00085043. Nanjing Panda Electronics Co's gearing of last year was 0.00159557.
==> 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
Nanjing Panda Electronics Co's current ratio of this year was 1.98098174. Nanjing Panda Electronics Co's current ratio of last year was 2.05316657.
==> 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.
Nanjing Panda Electronics Co's number of shares in issue this year was 914.282. Nanjing Panda Electronics Co's number of shares in issue last year was 913.271.
==> 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.
Nanjing Panda Electronics Co's gross margin of this year was 0.16060848. Nanjing Panda Electronics Co's gross margin of last year was 0.17623863.
==> 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
Nanjing Panda Electronics Co's asset turnover of this year was 0.47190888. Nanjing Panda Electronics Co's asset turnover of last year was 0.48831119.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Que. 1
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Que. 2
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Que. 4
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Que. 7
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0
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2
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Nanjing Panda Electronics Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Nanjing Panda Electronics Co (HKSE:00553) 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.
Nanjing Panda Electronics Co Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Nanjing Panda Electronics Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Nanjing Panda Electronics Co Ltd is a manufacturer and supplier of electronic equipment products. it provides domestic and foreign brand manufacturers with complete manufacturing services, such as R&D, process design, procurement management, manufacturing and warehousing of 3C, new display module components, core components of white appliances, automotive electronics, communication equipment, and other electronic products Its operations into four main segments: Intelligent Transportation System and Safe City; Green service electronic manufacturing; Industrial network and Intelligent Manufacturing and others. It derives maximum revenue from the Green service electronic manufacturing segment.
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