Vico International Holdings (HKSE:01621) Piotroski F-Score: 8 (As of Aug. 02, 2026) — 33% Above Median

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HKSE:01621 Vico International Holdings Ltd HKSE:01621
62 GF Score
Price HK$0.20
GF Value HK$0.08
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Vico International Holdings Piotroski F-Score?

Vico International Holdings HKSE:01621 +1.56% 62 Piotroski F-Score is 8 as of Aug. 02, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates HKSE:01621 with a GF Score™ of 62/100 and a GF Value™ of HK$0.08 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 976 Oil & Gas companies, Vico International Holdings ranks better than 98.16% on this metric.

Good Sign:

Piotroski F-Score is 8, 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

Vico International Holdings 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 Vico International Holdings's Piotroski F-Score or its related term are showing as below:

HKSE:01621' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 8

During the past 12 years, the highest Piotroski F-Score of Vico International Holdings was 8. The lowest was 5. And the median was 6.

Vico International Holdings  (HKSE:01621) 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.


Vico International Holdings Piotroski F-Score Related Terms


Vico International Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Vico International 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.

Vico International Holdings Piotroski F-Score Chart

Vico International Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 7.00 5.00 8.00

Vico International Holdings Semi-Annual Data
Mar16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 Premium Member Only 7.00 0.00 5.00 0.00 8.00

HKSE:01621 vs MPC, VLO, PSX: Piotroski F-Score Comparison

For the Oil & Gas Refining & Marketing subindustry, Vico International 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.


Vico International Holdings Piotroski F-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Vico International Holdings's Piotroski F-Score distribution charts can be found below:

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


HKSE:01621
62GF Score
Vico International Holdings Ltd HKSE:01621
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was HK$16 Mil.
Cash Flow from Operations was HK$29 Mil.
Revenue was HK$1,307 Mil.
Gross Profit was HK$49 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (287.287 + 298.437) / 2 = HK$292.862 Mil.
Total Assets at the begining of this year (Mar25) was HK$287 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2 Mil.
Total Current Assets was HK$174 Mil.
Total Current Liabilities was HK$45 Mil.
Net Income was HK$12 Mil.

Revenue was HK$1,545 Mil.
Gross Profit was HK$46 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (273.17 + 287.287) / 2 = HK$280.2285 Mil.
Total Assets at the begining of last year (Mar24) was HK$273 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3 Mil.
Total Current Assets was HK$158 Mil.
Total Current Liabilities was HK$49 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.

Vico International Holdings's current Net Income (TTM) was 16. ==> 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.

Vico International Holdings's current Cash Flow from Operations (TTM) was 29. ==> 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 (Mar25)
=16.029/287.287
=0.05579438

ROA (Last Year)=Net Income/Total Assets (Mar24)
=12.346/273.17
=0.0451953

Vico International Holdings's return on assets of this year was 0.05579438. Vico International Holdings's return on assets of last year was 0.0451953. ==> This year is higher. ==> Score 1.

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.

Vico International Holdings's current Net Income (TTM) was 16. Vico International Holdings's current Cash Flow from Operations (TTM) was 29. ==> 29 > 16 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=2.114/292.862
=0.00721842

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=2.764/280.2285
=0.00986338

Vico International Holdings's gearing of this year was 0.00721842. Vico International Holdings's gearing of last year was 0.00986338. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=173.791/44.561
=3.90006957

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=158.323/48.967
=3.23325913

Vico International Holdings's current ratio of this year was 3.90006957. Vico International Holdings's current ratio of last year was 3.23325913. ==> 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.

Vico International Holdings's number of shares in issue this year was 1000. Vico International Holdings's number of shares in issue last year was 1000. ==> 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
=49.027/1307.029
=0.03751026

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=45.912/1544.763
=0.02972106

Vico International Holdings's gross margin of this year was 0.03751026. Vico International Holdings's gross margin of last year was 0.02972106. ==> 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 (Mar25)
=1307.029/287.287
=4.54955846

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1544.763/273.17
=5.65495113

Vico International Holdings's asset turnover of this year was 4.54955846. Vico International Holdings's asset turnover of last year was 5.65495113. ==> 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+1+1+1+1+1+1+0
=8

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

Vico International Holdings has an F-score of 8. 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 8 mean?
Vico International Holdings (HKSE:01621) has a Piotroski F-Score of 8 as of Aug. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Vico International Holdings and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Vico International Holdings' Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Vico International Holdings ranks #18 out of 976 companies in the Oil & Gas industry, placing it in the top 1.8%.
Is Vico International Holdings' Piotroski F-Score too high?
Vico International Holdings' current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Oil & Gas industry median Piotroski F-Score is 5.00. Vico International Holdings' value of 8 is 60% above this industry median. Based on the distribution chart, Vico International Holdings ranks #18 out of 976 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Vico International Holdings has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vico International Holdings' Piotroski F-Score compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Vico International Holdings ranks #18 out of 976 companies for Piotroski F-Score. This places Vico International Holdings in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Vico International Holdings' value of 8 is 60% above this benchmark. Historically, Vico International Holdings' own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Vico International 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 an Oil & Gas company?
The median Piotroski F-Score among Oil & Gas companies is 5.00, based on 976 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. Vico International Holdings's current Piotroski F-Score of 8 is 60% 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 Vico International Holdings and its competitors. For the Oil & Gas 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. Vico International Holdings's current Piotroski F-Score is 8, which is 33% 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 Vico International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Vico International Holdings (HKSE:01621) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.08, compared to a current price of HK$0.20 — trading 143.8% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Oil & Gas industry median of 5.00. Vico International Holdings' overall GF Score™ is 62/100 with 5 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 Vico International Holdings (HKSE:01621), the current Piotroski F-Score is 8 as of Aug. 02, 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 Vico International Holdings (HKSE:01621) Overvalued in 2026?

Based on GuruFocus' analysis, Vico International Holdings stock appears to be overvalued. The current stock price of HK$0.20 is trading 143.8% above its estimated GF Value™ of HK$0.08. GuruFocus considers Vico International Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:01621:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: HK$0.08 vs. price of HK$0.20 (143.8% above fair value)
  • GF Score™: 62/100 with 5 warning signs
  • Industry Position: 60% above the Oil & Gas median (#18 of 976)

No single metric tells the full story. See the HKSE:01621 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vico International Holdings Business Description

Industry EnergyOil & Gas
Address No. 10 Cheung Yue Street, Unit D, 11th Floor, Billion Plaza II, Cheung Sha Wan, Hong Kong, HKG
Vico International Holdings Ltd is engaged in the business of distribution of petrochemicals products. The company's portfolio of products comprises sales of diesel, lubricant oil and others and provision of fleet cards service. The operating segments of the group are Sales of diesel; Provision of fleet card service; Sales of lubricant oil and Sales of others. The company derives the majority of its revenue from the Sales of the diesel segment. Geographically, the group has a business presence in Hong Kong; Macau, Vietnam, Dubai, Korea, India, and Malaysia, of which key revenue is generated from Hong Kong.
62GF Score

Get the complete analysis for HKSE:01621

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

HK$0.20
Price
HK$0.08
GF Value