Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hua Hong Semiconductor has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Hua Hong Semiconductor's Piotroski F-Score or its related term are showing as below:
HKSE:01347'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 8
Current: 4
During the past 12 years, the highest Piotroski F-Score of Hua Hong Semiconductor was 8. The lowest was 1. And the median was 3.
Hua Hong Semiconductor Piotroski F-Score Historical Data
The historical data trend for Hua Hong Semiconductor'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 Hua Hong Semiconductor's Piotroski F-Score
For the Semiconductors subindustry, Hua Hong Semiconductor'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.
Hua Hong Semiconductor's Piotroski F-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Hua Hong Semiconductor's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hua Hong Semiconductor'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 (Sep23) TTM:
Net Income was 276.358 + 0 + 349.161 + -195.882 = HK$430 Mil. Cash Flow from Operations was 1534.985 + 0 + -209.095 + 2395.047 = HK$3,721 Mil. Revenue was 3556.278 + 0 + 4100.45 + 4191.238 = HK$11,848 Mil. Gross Profit was 142.295 + 0 + 498.679 + 477.489 = HK$1,118 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Dec24) was
(78084.113 + 85465.922 + 94538.332 + 0 + 96507.601) / 5 = HK$88648.992 Mil. Total Assets at the begining of this year (Sep23) was HK$78,084 Mil. Long-Term Debt & Capital Lease Obligation was HK$15,044 Mil. Total Current Assets was HK$45,338 Mil. Total Current Liabilities was HK$12,144 Mil.
Net Income was 815.545 + 1238.937 + 0 + 108.738 = HK$2,163 Mil.
Revenue was 4944.392 + 4905.658 + 0 + 4450.729 = HK$14,301 Mil. Gross Profit was 1837.199 + 1874 + 0 + 717.271 = HK$4,428 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Sep23) was
(48977.983 + 52279.924 + 54928.924 + 54441.982 + 78084.113) / 5 = HK$57742.5852 Mil. Total Assets at the begining of last year (Jun22) was HK$48,978 Mil. Long-Term Debt & Capital Lease Obligation was HK$13,813 Mil. Total Current Assets was HK$47,313 Mil. Total Current Liabilities was HK$6,662 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.
Hua Hong Semiconductor's current Net Income (TTM) was 430.
==> 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.
Hua Hong Semiconductor's current Cash Flow from Operations (TTM) was 3,721.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Hua Hong Semiconductor's return on assets of this year was 0.00550223. Hua Hong Semiconductor's return on assets of last year was 0.04416719.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Hua Hong Semiconductor's gearing of this year was 0.16970169. Hua Hong Semiconductor's gearing of last year was 0.23921395.
==> 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
Hua Hong Semiconductor's current ratio of this year was 3.73342792. Hua Hong Semiconductor's current ratio of last year was 7.10154004.
==> 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.
Hua Hong Semiconductor's number of shares in issue this year was 1724.087. Hua Hong Semiconductor's number of shares in issue last year was 1587.083.
==> 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.
Hua Hong Semiconductor's gross margin of this year was 0.09440127. Hua Hong Semiconductor's gross margin of last year was 0.30966635.
==> 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
Hua Hong Semiconductor's asset turnover of this year was 0.15173338. Hua Hong Semiconductor's asset turnover of last year was 0.29198383.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hua Hong Semiconductor has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Hua Hong Semiconductor (HKSE:01347) 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.
Hua Hong Semiconductor Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Hua Hong Semiconductor's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Hua Hong Semiconductor, or Hua Hong, is the second-largest Chinese foundry and the seventh-largest globally. Its current form is a result of an intragroup restructuring completed in 2013. Hua Hong is headquartered in Shanghai with another plant in Wuxi, China, and has sales offices in Japan, Taiwan and the us. It employs more than 6,800 employees. Hua Hong's products are used on smartphones, PCs, for the Internet of Things, data centers, and for automotive and industrial purposes, and so on, but it focuses on more mature process technologies.
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