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Innovent BiologicsHKSE:01801 -5.57%84 Piotroski F-Score is 8 as of Jul. 19, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates HKSE:01801 with a GF Score™ of 84/100 and a GF Value™ of HK$100.93 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,334 Biotechnology companies, Innovent Biologics ranks better than 99.33% 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
Innovent Biologics 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 Innovent Biologics's Piotroski F-Score or its related term are showing as below:
HKSE:01801'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 8
During the past 10 years, the highest Piotroski F-Score of Innovent Biologics was 8. The lowest was 1. And the median was 5.
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.
Innovent Biologics Piotroski F-Score Related Terms
Innovent Biologics Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Innovent Biologics'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.
HKSE:01801 vs VRTX, REGN, ALNY: Piotroski F-Score Comparison
For the Biotechnology subindustry, Innovent Biologics'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.
Innovent Biologics Piotroski F-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Innovent Biologics's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Innovent Biologics'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.
Innovent Biologics's current Net Income (TTM) was 899.
==> 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.
Innovent Biologics's return on assets of this year was 0.03896751. Innovent Biologics's return on assets of last year was -0.00447815.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Innovent Biologics's gearing of this year was 0.06923298. Innovent Biologics's gearing of last year was 0.11312278.
==> 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
Innovent Biologics's current ratio of this year was 2.62483328. Innovent Biologics's current ratio of last year was 2.35137235.
==> 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.
Innovent Biologics's number of shares in issue this year was 1730.989. Innovent Biologics's number of shares in issue last year was 1627.461.
==> 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.
Innovent Biologics's gross margin of this year was 0.86535171. Innovent Biologics's gross margin of last year was 0.8397126.
==> 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
Innovent Biologics's asset turnover of this year was 0.62465265. Innovent Biologics's asset turnover of last year was 0.44586425.
==> 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
Innovent Biologics has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Innovent Biologics (HKSE:01801) has a Piotroski F-Score of 8 as of Jul. 19, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Innovent Biologics and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Innovent Biologics' Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Innovent Biologics ranks #9 out of 1334 companies in the Biotechnology industry, placing it in the top 0.7%.
Is Innovent Biologics' Piotroski F-Score too high?
Innovent Biologics' current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Biotechnology industry median Piotroski F-Score is 3.00. Innovent Biologics' value of 8 is 166.7% above this industry median. Based on the distribution chart, Innovent Biologics ranks #9 out of 1334 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Innovent Biologics has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Innovent Biologics' Piotroski F-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Innovent Biologics ranks #9 out of 1334 companies for Piotroski F-Score. This places Innovent Biologics in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. Innovent Biologics' value of 8 is 166.7% above this benchmark. Historically, Innovent Biologics' own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 3.00, Innovent Biologics 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 Biotechnology company?
The median Piotroski F-Score among Biotechnology companies is 3.00, based on 1,334 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. Innovent Biologics's current Piotroski F-Score of 8 is 166.7% 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 Innovent Biologics and its competitors. For the Biotechnology industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovent Biologics's current Piotroski F-Score is 8, which is 60% above 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 Innovent Biologics stock overvalued right now?
Based on GuruFocus' analysis, Innovent Biologics (HKSE:01801) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$100.93, compared to a current price of HK$88.95 — trading 11.9% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 166.7% above the Biotechnology industry median of 3.00. Innovent Biologics' overall GF Score™ is 84/100 with 2 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 Innovent Biologics (HKSE:01801), the current Piotroski F-Score is 8 as of Jul. 19, 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 Innovent Biologics (HKSE:01801) Overvalued in 2026?
Based on GuruFocus' analysis, Innovent Biologics stock appears to be undervalued.
The current stock price of HK$88.95 is trading 11.9% below its estimated GF Value™ of HK$100.93.
GuruFocus considers Innovent Biologics to be Modestly Undervalued.
Key valuation signals for HKSE:01801:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: HK$100.93 vs. price of HK$88.95 (11.9% below fair value)
Industry Position: 166.7% above the Biotechnology median (#9 of 1334)
No single metric tells the full story. See the HKSE:01801 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Innovent Biologics is one of the leading biotechnology companies in China. Listed on the Hong Kong stock exchange in 2018, Innovent has 12 commercialized oncology products and four commercialized nononcology products as of January 2026, and 34 drugs in its research and development pipeline. Its core assets are Tyvyt, a PD-1 inhibitor included in the National Reimbursement Drug Lists (NRDL) for the first-line treatment of five major cancers, and mazdutide, a GLP-1/glucagon dual agonist drug for weight loss, fat breakdown, and Type 2 diabetes. Mazdutide is the first domestic GLP-1 drug produced and competes with Eli Lilly and Novo Nordisk in China. Tyvyt's main competition includes drugs from Junshi, Jiangsu Hengrui, BeOne, Merck, and Bristol Myers.
84GF Score
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