Justin Allen Holdings (HKSE:01425) Piotroski F-Score: 7 (As of Aug. 11, 2026) — 17% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:01425 Justin Allen Holdings Ltd HKSE:01425
66 GF Score
Price HK$0.59
GF Value HK$0.61
Valuation Fairly Valued
! 1 Warning Sign
View Full Analysis

What is Justin Allen Holdings Piotroski F-Score?

Justin Allen Holdings HKSE:01425 66 Piotroski F-Score is 7 as of Aug. 11, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates HKSE:01425 with a GF Score™ of 66/100 and a GF Value™ of HK$0.61 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,046 Manufacturing - Apparel & Accessories companies, Justin Allen Holdings ranks better than 90.06% on this metric.

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

Justin Allen Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Justin Allen Holdings's Piotroski F-Score or its related term are showing as below:

HKSE:01425' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

During the past 10 years, the highest Piotroski F-Score of Justin Allen Holdings was 8. The lowest was 4. And the median was 6.

Justin Allen Holdings  (HKSE:01425) 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.


Justin Allen Holdings Piotroski F-Score Related Terms


Justin Allen Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Justin Allen Holdings'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.

Justin Allen Holdings Piotroski F-Score Chart

Justin Allen Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 6.00 4.00 7.00

Justin Allen Holdings Semi-Annual Data
Dec16 Dec17 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 6.00 0.00 4.00 0.00 7.00

HKSE:01425 vs RL, LEVI, VFC: Piotroski F-Score Comparison

For the Apparel Manufacturing subindustry, Justin Allen Holdings'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.


Justin Allen Holdings Piotroski F-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Justin Allen Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Justin Allen Holdings's Piotroski F-Score falls into.


HKSE:01425
66GF Score
Justin Allen Holdings Ltd HKSE:01425
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was HK$167 Mil.
Cash Flow from Operations was HK$181 Mil.
Revenue was HK$1,099 Mil.
Gross Profit was HK$336 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (1056.459 + 1127.05) / 2 = HK$1091.7545 Mil.
Total Assets at the begining of this year (Dec24) was HK$1,056 Mil.
Long-Term Debt & Capital Lease Obligation was HK$27 Mil.
Total Current Assets was HK$892 Mil.
Total Current Liabilities was HK$161 Mil.
Net Income was HK$170 Mil.

Revenue was HK$1,068 Mil.
Gross Profit was HK$322 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (940.413 + 1056.459) / 2 = HK$998.436 Mil.
Total Assets at the begining of last year (Dec23) was HK$940 Mil.
Long-Term Debt & Capital Lease Obligation was HK$28 Mil.
Total Current Assets was HK$843 Mil.
Total Current Liabilities was HK$199 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.

Justin Allen Holdings's current Net Income (TTM) was 167. ==> 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.

Justin Allen Holdings's current Cash Flow from Operations (TTM) was 181. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec24)
=166.749/1056.459
=0.15783764

ROA (Last Year)=Net Income/Total Assets (Dec23)
=170.373/940.413
=0.18116827

Justin Allen Holdings's return on assets of this year was 0.15783764. Justin Allen Holdings's return on assets of last year was 0.18116827. ==> 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.

Justin Allen Holdings's current Net Income (TTM) was 167. Justin Allen Holdings's current Cash Flow from Operations (TTM) was 181. ==> 181 > 167 ==> CFROA > ROA ==> Score 1.

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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=27.378/1091.7545
=0.02507707

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=27.713/998.436
=0.02775641

Justin Allen Holdings's gearing of this year was 0.02507707. Justin Allen Holdings's gearing of last year was 0.02775641. ==> 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=892.148/161.477
=5.52492305

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=843.152/199.057
=4.23573147

Justin Allen Holdings's current ratio of this year was 5.52492305. Justin Allen Holdings's current ratio of last year was 4.23573147. ==> 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.

Justin Allen Holdings's number of shares in issue this year was 1250. Justin Allen Holdings's number of shares in issue last year was 1250. ==> 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
=335.947/1098.569
=0.30580419

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=321.59/1067.83
=0.30116217

Justin Allen Holdings's gross margin of this year was 0.30580419. Justin Allen Holdings's gross margin of last year was 0.30116217. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=1098.569/1056.459
=1.03985957

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1067.83/940.413
=1.13549047

Justin Allen Holdings's asset turnover of this year was 1.03985957. Justin Allen Holdings's asset turnover of last year was 1.13549047. ==> 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
=1+1+0+1+1+1+1+1+0
=7

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

Justin Allen Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Justin Allen Holdings (HKSE:01425) has a Piotroski F-Score of 7 as of Aug. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Justin Allen Holdings and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Justin Allen Holdings' Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Justin Allen Holdings ranks #104 out of 1046 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 9.9%.
Is Justin Allen Holdings' Piotroski F-Score too high?
Justin Allen Holdings' current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Manufacturing - Apparel & Accessories industry median Piotroski F-Score is 5.00. Justin Allen Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Justin Allen Holdings ranks #104 out of 1046 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Justin Allen Holdings has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Justin Allen Holdings' Piotroski F-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Justin Allen Holdings ranks #104 out of 1046 companies for Piotroski F-Score. This places Justin Allen Holdings in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Justin Allen Holdings' value of 7 is 40% above this benchmark. Historically, Justin Allen Holdings' own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Justin Allen Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Manufacturing - Apparel & Accessories company?
The median Piotroski F-Score among Manufacturing - Apparel & Accessories companies is 5.00, based on 1,046 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Justin Allen Holdings's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Justin Allen Holdings and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Justin Allen Holdings's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Justin Allen Holdings stock overvalued right now?
Based on GuruFocus' analysis, Justin Allen Holdings (HKSE:01425) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.61, compared to a current price of HK$0.59 — trading 4.1% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Manufacturing - Apparel & Accessories industry median of 5.00. Justin Allen Holdings' overall GF Score™ is 66/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Justin Allen Holdings (HKSE:01425), the current Piotroski F-Score is 7 as of Aug. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Justin Allen Holdings (HKSE:01425) Overvalued in 2026?

Based on GuruFocus' analysis, Justin Allen Holdings stock appears to be undervalued. The current stock price of HK$0.59 is trading 4.1% below its estimated GF Value™ of HK$0.61. GuruFocus considers Justin Allen Holdings to be Fairly Valued.

Key valuation signals for HKSE:01425:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: HK$0.61 vs. price of HK$0.59 (4.1% below fair value)
  • GF Score™: 66/100 with 1 warning sign
  • Industry Position: 40% above the Manufacturing - Apparel & Accessories median (#104 of 1046)

No single metric tells the full story. See the HKSE:01425 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Justin Allen Holdings Business Description

Address 483A Castle Peak Road, 31st Floor, Excel Centre, Cheung Sha Wan, Hong Kong, HKG
Justin Allen Holdings Ltd is an investment holding company. The Group is principally engaged in the manufacturing and sales of sleepwear products, loungewear products, greige fabric and processing services. Its business operation includes raw materials sourcing and greige fabric production, raw materials and fabric development, garment design, customer consultation on product design and fabric use, conducting key garment production processes with its production facilities, and carrying out quality control at various key production stages and on finished garment products. The Group has one operating segment. The company has presence in United States of America, United Kingdom, Ireland, Canada, Spain, The PRC, and Cambodia. The majority of revenue comes from United States of America.
66GF Score

Get the complete analysis for HKSE:01425

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.59
Price
HK$0.61
GF Value