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Thelloy Development GroupHKSE:01546 -0.77%49 Piotroski F-Score is 3 as of Aug. 01, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates HKSE:01546 with a GF Score™ of 49/100 and a GF Value™ of HK$0.20 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,727 Construction companies, Thelloy Development Group ranks worse than 82.22% on this metric.
Warning Sign:
Piotroski F-Score of 3 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
Thelloy Development Group has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Thelloy Development Group's Piotroski F-Score or its related term are showing as below:
HKSE:01546'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of Thelloy Development Group was 8. The lowest was 3. And the median was 5.
Thelloy Development Group (HKSE:01546) 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.
Thelloy Development Group Piotroski F-Score Related Terms
Thelloy Development Group Piotroski F-Score Historical Data
* 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.
HKSE:01546 vs PWR, FIX, EME: Piotroski F-Score Comparison
For the Engineering & Construction subindustry, Thelloy Development Group'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.
Thelloy Development Group Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, Thelloy Development Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Thelloy Development Group'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.
*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.
Thelloy Development Group's current Net Income (TTM) was -51.4.
==> 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.
Thelloy Development Group's current Cash Flow from Operations (TTM) was -63.8.
==> 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.
Thelloy Development Group's return on assets of this year was -0.14555111. Thelloy Development Group's return on assets of last year was 0.0242596.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Thelloy Development Group's gearing of this year was 0.00049161. Thelloy Development Group's gearing of last year was 0.00182966.
==> 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
Thelloy Development Group's current ratio of this year was 0.71237451. Thelloy Development Group's current ratio of last year was 0.74710259.
==> 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.
Thelloy Development Group's number of shares in issue this year was 800. Thelloy Development Group's number of shares in issue last year was 800.
==> 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.
Thelloy Development Group's gross margin of this year was 0.02066132. Thelloy Development Group's gross margin of last year was 0.1171703.
==> 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
Thelloy Development Group's asset turnover of this year was 1.13409588. Thelloy Development Group's asset turnover of last year was 0.75598285.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Thelloy Development Group has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Thelloy Development Group (HKSE:01546) has a Piotroski F-Score of 3 as of Aug. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Thelloy Development Group and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Thelloy Development Group's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Thelloy Development Group ranks #1420 out of 1727 companies in the Construction industry, placing it in the top 82.2%.
Is Thelloy Development Group's Piotroski F-Score too high?
Thelloy Development Group's current Piotroski F-Score of 3 is 40% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Thelloy Development Group's value of 3 is 40% below this industry median. Based on the distribution chart, Thelloy Development Group ranks #1420 out of 1727 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Thelloy Development Group has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Thelloy Development Group's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Thelloy Development Group ranks #1420 out of 1727 companies for Piotroski F-Score. This places Thelloy Development Group in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Thelloy Development Group's value of 3 is 40% below this benchmark. Historically, Thelloy Development Group's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Thelloy Development Group has consistently been below 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,727 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. Thelloy Development Group's current Piotroski F-Score of 3 is 40% below 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 Thelloy Development Group and its competitors. For the Construction 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. Thelloy Development Group's current Piotroski F-Score is 3, which is 40% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thelloy Development Group stock overvalued right now?
Based on GuruFocus' analysis, Thelloy Development Group (HKSE:01546) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.20, compared to a current price of HK$0.13 — trading 35.5% below its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Construction industry median of 5.00. Thelloy Development Group's overall GF Score™ is 49/100 with 7 warning signs 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 Thelloy Development Group (HKSE:01546), the current Piotroski F-Score is 3 as of Aug. 01, 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 Thelloy Development Group (HKSE:01546) Overvalued in 2026?
Based on GuruFocus' analysis, Thelloy Development Group stock appears to be undervalued.
The current stock price of HK$0.13 is trading 35.5% below its estimated GF Value™ of HK$0.20.
GuruFocus considers Thelloy Development Group to be Possible Value Trap.
Key valuation signals for HKSE:01546:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: HK$0.20 vs. price of HK$0.13 (35.5% below fair value)
Industry Position: 40% below the Construction median (#1420 of 1727)
No single metric tells the full story. See the HKSE:01546 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thelloy Development Group Ltd along with its subsidiaries provides building construction services and repair, maintenance, alteration, and additional work services in Hong Kong. The company earns key revenue from building construction operations. Geographically the company caters its services only to the Hong Kong market. The company's services are majorly used by government, quasi-government organizations, institutions, schools, and private residential properties.
49GF Score
Get the complete analysis for HKSE:01546
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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