Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Mobile has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for China Mobile's Piotroski F-Score or its related term are showing as below:
HKSE:00941'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 4 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of China Mobile was 9. The lowest was 1. And the median was 4.
China Mobile Piotroski F-Score Historical Data
The historical data trend for China Mobile'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.
Competitive Comparison of China Mobile's Piotroski F-Score
For the Telecom Services subindustry, China Mobile'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 Mobile's Piotroski F-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, China Mobile's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China Mobile'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 28722.634 + 32164.3 + 54464.488 + 33780.085 = HK$149,132 Mil. Cash Flow from Operations was 0 + 61814.899 + 80173.423 + 102064.743 = HK$244,053 Mil. Revenue was 255669.721 + 286465.3 + 304701.638 + 269441.319 = HK$1,116,278 Mil. Gross Profit was 409788.635 + 157971.045 + 190678.458 + 165849.426 = HK$924,288 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(2090892.492 + 2179526.153 + 2206170.732 + 2176347.839 + 2222618.374) / 5 = HK$2175111.118 Mil. Total Assets at the begining of this year (Sep23) was HK$2,090,892 Mil. Long-Term Debt & Capital Lease Obligation was HK$68,064 Mil. Total Current Assets was HK$562,675 Mil. Total Current Liabilities was HK$627,730 Mil.
Net Income was 30069.777 + 31968.17 + 52617.407 + 31465.681 = HK$146,121 Mil.
Revenue was 238722.339 + 285598.417 + 306229.021 + 262642.372 = HK$1,093,192 Mil. Gross Profit was 401634.265 + 69853.419 + 271839.467 + -93226.72 = HK$650,100 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(2078167.089 + 2161443.772 + 2229647.452 + 2178368.96 + 2090892.492) / 5 = HK$2147703.953 Mil. Total Assets at the begining of last year (Sep22) was HK$2,078,167 Mil. Long-Term Debt & Capital Lease Obligation was HK$78,533 Mil. Total Current Assets was HK$549,454 Mil. Total Current Liabilities was HK$613,701 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.
China Mobile's current Net Income (TTM) was 149,132.
==> 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.
China Mobile's return on assets of this year was 0.07132433. China Mobile's return on assets of last year was 0.07031246.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China Mobile's gearing of this year was 0.0312924. China Mobile's gearing of last year was 0.03656593.
==> 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
China Mobile's current ratio of this year was 0.89636429. China Mobile's current ratio of last year was 0.89531136.
==> 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 Mobile's number of shares in issue this year was 21570.717. China Mobile's number of shares in issue last year was 21406.79.
==> 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.
China Mobile's gross margin of this year was 0.82800842. China Mobile's gross margin of last year was 0.59468085.
==> 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 Mobile's asset turnover of this year was 0.53387631. China Mobile's asset turnover of last year was 0.5260367.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
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Que. 6
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Que. 7
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Que. 8
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Que. 9
=
1
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1
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1
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1
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1
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1
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0
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1
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1
=
8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Mobile has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
China Mobile (HKSE:00941) 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 Mobile Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of China Mobile's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
China Mobile is not only the largest telecom operator in China by the number of mobile subscribers (1 billion) but also the largest in the world. It has 60% of the total wireless market in China and 50% of the fixed-line broadband market. The firm is continuing to roll out its 5G network, having launched 5G service in late 2019. It is doing some 5G network sharing with China Broadnet at 700 MHz and also resells its 3G/4G/5G network through China Broadnet. Strong growth is being generated through internet data centers where it has the second-largest network in China and through Cloud Services. The company issued stock on the A-share market in 2022 and completed its first buyback of H-shares.
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