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MECOM Power and Construction (HKSE:01183) Piotroski F-Score : 1 (As of Apr. 16, 2025)


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What is MECOM Power and Construction Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 1 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

MECOM Power and Construction has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for MECOM Power and Construction's Piotroski F-Score or its related term are showing as below:

HKSE:01183' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 1

During the past 11 years, the highest Piotroski F-Score of MECOM Power and Construction was 8. The lowest was 1. And the median was 5.


MECOM Power and Construction Piotroski F-Score Historical Data

The historical data trend for MECOM Power and Construction'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.

MECOM Power and Construction Piotroski F-Score Chart

MECOM Power and Construction Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 8.00 4.00 1.00 -

MECOM Power and Construction Semi-Annual Data
Dec14 Dec15 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24
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 4.00 - 1.00 - -

Competitive Comparison of MECOM Power and Construction's Piotroski F-Score

For the Steel subindustry, MECOM Power and Construction'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.


MECOM Power and Construction's Piotroski F-Score Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, MECOM Power and Construction's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where MECOM Power and Construction's Piotroski F-Score falls into.


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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 HK$-11 Mil.
Cash Flow from Operations was HK$-70 Mil.
Revenue was HK$1,456 Mil.
Gross Profit was HK$118 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (968.305 + 1058.633) / 2 = HK$1013.469 Mil.
Total Assets at the begining of this year (Dec22) was HK$968 Mil.
Long-Term Debt & Capital Lease Obligation was HK$31 Mil.
Total Current Assets was HK$809 Mil.
Total Current Liabilities was HK$560 Mil.
Net Income was HK$79 Mil.

Revenue was HK$1,305 Mil.
Gross Profit was HK$137 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (664.179 + 968.305) / 2 = HK$816.242 Mil.
Total Assets at the begining of last year (Dec21) was HK$664 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0 Mil.
Total Current Assets was HK$845 Mil.
Total Current Liabilities was HK$498 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.

MECOM Power and Construction's current Net Income (TTM) was -11. ==> 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.

MECOM Power and Construction's current Cash Flow from Operations (TTM) was -70. ==> 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)
=-11.269/968.305
=-0.01163786

ROA (Last Year)=Net Income/Total Assets (Dec21)
=79.127/664.179
=0.11913505

MECOM Power and Construction's return on assets of this year was -0.01163786. MECOM Power and Construction's return on assets of last year was 0.11913505. ==> 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.

MECOM Power and Construction's current Net Income (TTM) was -11. MECOM Power and Construction's current Cash Flow from Operations (TTM) was -70. ==> -70 <= -11 ==> CFROA <= ROA ==> Score 0.

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
=31.343/1013.469
=0.03092645

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/816.242
=0

MECOM Power and Construction's gearing of this year was 0.03092645. MECOM Power and Construction's gearing of last year was 0. ==> 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
=808.72/560.406
=1.44309661

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=844.634/498.08
=1.69577979

MECOM Power and Construction's current ratio of this year was 1.44309661. MECOM Power and Construction's current ratio of last year was 1.69577979. ==> 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.

MECOM Power and Construction's number of shares in issue this year was 3994.082. MECOM Power and Construction's number of shares in issue last year was 4006.577. ==> 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
=117.652/1455.612
=0.08082648

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=136.716/1305.345
=0.10473553

MECOM Power and Construction's gross margin of this year was 0.08082648. MECOM Power and Construction's gross margin of last year was 0.10473553. ==> 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)
=1455.612/968.305
=1.50325775

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=1305.345/664.179
=1.96535121

MECOM Power and Construction's asset turnover of this year was 1.50325775. MECOM Power and Construction's asset turnover of last year was 1.96535121. ==> 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
=0+0+0+0+0+0+1+0+0
=1

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

MECOM Power and Construction has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

MECOM Power and Construction  (HKSE:01183) 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.


MECOM Power and Construction Piotroski F-Score Related Terms

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MECOM Power and Construction Business Description

Traded in Other Exchanges
N/A
Address
No. 258 Alameda Dr. Carlos D'Assumpcao, Units Q, R and S, 6th Floor, Kin Fu Kuok, Praca Kin Heng Long-Heng Hoi Kuok, Macau, MAC
MECOM Power and Construction Ltd is an integrated construction engineering contractor and power substations constructor in Macau. The company's segment includes Construction business engages in the provision of construction services, including construction and fitting out works, high voltage power substation construction and its system installation works, E&M engineering services works, and provision of facilities management services; and EV charging business engages in the sale of EV charging systems and subscription fee income and Steel structures business includes the sale and processing of new material steel structures It generates maximum revenue from Construction and fitting out works segment. Geographically, it derives revenue from Macau.
Executives
Macau New Base Investment Company Limited 2101 Beneficial owner
Chan Ka Lai
Kuok Lam Sek
Lam Ka Man
Lam Kuok Wa
Lao Ka Wa
Mecom Holding Limited
Sou Kun Tou
Tam Cho Veng
Wong Fong Peng
Kuok Wai Hang 2201 Interest of corporation controlled by you
Lei Kuok Hong 2201 Interest of corporation controlled by you
Chan Sao Ieng 2202 Interest of your spouse
Kuan Chio Man

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