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Macau Legend Development (HKSE:01680) Piotroski F-Score : 6 (As of Jun. 28, 2025)


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What is Macau Legend Development Piotroski F-Score?

The zones of discrimination were as such:

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

Macau Legend Development has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Macau Legend Development's Piotroski F-Score or its related term are showing as below:

HKSE:01680' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Macau Legend Development was 7. The lowest was 2. And the median was 5.


Macau Legend Development Piotroski F-Score Historical Data

The historical data trend for Macau Legend Development'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.

Macau Legend Development Piotroski F-Score Chart

Macau Legend Development 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 2.00 5.00 3.00 7.00 6.00

Macau Legend Development Semi-Annual Data
Jun15 Dec15 Jun16 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 Premium Member Only 3.00 - 7.00 - 6.00

Competitive Comparison of Macau Legend Development's Piotroski F-Score

For the Resorts & Casinos subindustry, Macau Legend Development'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.


Macau Legend Development's Piotroski F-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Macau Legend Development's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Macau Legend Development'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was HK$-622.6 Mil.
Cash Flow from Operations was HK$171.4 Mil.
Revenue was HK$771.5 Mil.
Gross Profit was HK$95.7 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was (6862.616 + 5881.208) / 2 = HK$6371.912 Mil.
Total Assets at the begining of this year (Dec23) was HK$6,862.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$87.2 Mil.
Total Current Assets was HK$159.7 Mil.
Total Current Liabilities was HK$2,672.6 Mil.
Net Income was HK$-4.9 Mil.

Revenue was HK$739.7 Mil.
Gross Profit was HK$42.4 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was (7150.38 + 6862.616) / 2 = HK$7006.498 Mil.
Total Assets at the begining of last year (Dec22) was HK$7,150.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2,021.3 Mil.
Total Current Assets was HK$210.5 Mil.
Total Current Liabilities was HK$1,010.0 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.

Macau Legend Development's current Net Income (TTM) was -622.6. ==> 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.

Macau Legend Development's current Cash Flow from Operations (TTM) was 171.4. ==> 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 (Dec23)
=-622.627/6862.616
=-0.09072736

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-4.921/7150.38
=-0.00068822

Macau Legend Development's return on assets of this year was -0.09072736. Macau Legend Development's return on assets of last year was -0.00068822. ==> 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.

Macau Legend Development's current Net Income (TTM) was -622.6. Macau Legend Development's current Cash Flow from Operations (TTM) was 171.4. ==> 171.4 > -622.6 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=87.22/6371.912
=0.0136882

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=2021.333/7006.498
=0.28849405

Macau Legend Development's gearing of this year was 0.0136882. Macau Legend Development's gearing of last year was 0.28849405. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=159.686/2672.646
=0.05974828

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=210.452/1010.02
=0.20836419

Macau Legend Development's current ratio of this year was 0.05974828. Macau Legend Development's current ratio of last year was 0.20836419. ==> 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.

Macau Legend Development's number of shares in issue this year was 6201.187. Macau Legend Development's number of shares in issue last year was 6201.187. ==> 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
=95.685/771.465
=0.12403025

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=42.4/739.656
=0.05732395

Macau Legend Development's gross margin of this year was 0.12403025. Macau Legend Development's gross margin of last year was 0.05732395. ==> 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 (Dec23)
=771.465/6862.616
=0.11241559

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=739.656/7150.38
=0.10344289

Macau Legend Development's asset turnover of this year was 0.11241559. Macau Legend Development's asset turnover of last year was 0.10344289. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+0+1+1+1
=6

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

Macau Legend Development has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Macau Legend Development  (HKSE:01680) 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.


Macau Legend Development Piotroski F-Score Related Terms

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Macau Legend Development Business Description

Traded in Other Exchanges
N/A
Address
Avenida da Amizade e Avenida da, Palace Building, Macau Fisherman’s Wharf, Dr. Sun Yat Sen, Macau, MAC
Macau Legend Development Ltd is an investment holdings company. Its businesses include the provision of gaming services to SJM 's casino in its property, namely the Legend Palace Casino in MFW under the Service Agreement; and the operation of hotels, entertainment and leisure facilities within its properties. The company's segment includes: Gaming and Non-gaming. It derives maximum revenue from Non-Gaming segment, which includes operations at MFW including hotel and other operations such as licensing income from the shops, provision of building management service, food and beverage and others. The Group's operations are located on Macau and others (including Cambodia and Cape Verde).
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