Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CGN Power Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for CGN Power Co's Piotroski F-Score or its related term are showing as below:
HKSE:01816'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 1 Max: 8
Current: 5
During the past 12 years, the highest Piotroski F-Score of CGN Power Co was 8. The lowest was 1. And the median was 1.
CGN Power Co Piotroski F-Score Historical Data
The historical data trend for CGN Power Co'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.
Competitive Comparison of CGN Power Co's Piotroski F-Score
For the Utilities - Independent Power Producers subindustry, CGN Power Co'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.
CGN Power Co's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, CGN Power Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where CGN Power Co'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.
This Year (Dec24) TTM:
Last Year (Dec23) TTM:
Net Income was 3915.212 + 3773.413 + 3164.674 + 886.533 = HK$11,740 Mil. Cash Flow from Operations was 6066.033 + 0 + 0 + 0 = HK$6,066 Mil. Revenue was 20837.056 + 21740.887 + 25206.712 + 26194.533 = HK$93,979 Mil. Gross Profit was 8184.014 + 8237.233 + 8458.379 + 7122.752 = HK$32,002 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(454192.073 + 455353.291 + 450855.69 + 464095.772 + 454188.396) / 5 = HK$455737.0444 Mil. Total Assets at the begining of this year (Dec23) was HK$454,192 Mil. Long-Term Debt & Capital Lease Obligation was HK$169,728 Mil. Total Current Assets was HK$80,600 Mil. Total Current Liabilities was HK$89,129 Mil.
Net Income was 3970.822 + 3798.333 + 2940.006 + 1121.033 = HK$11,830 Mil.
Revenue was 20830.875 + 22955.175 + 22061.868 + 24835.628 = HK$90,684 Mil. Gross Profit was 8588.516 + 10098.773 + 7673.851 + 6304.484 = HK$32,666 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(456754.096 + 0 + 451883.267 + 444034.983 + 454192.073) / 5 = HK$451716.10475 Mil. Total Assets at the begining of last year (Dec22) was HK$456,754 Mil. Long-Term Debt & Capital Lease Obligation was HK$177,464 Mil. Total Current Assets was HK$79,613 Mil. Total Current Liabilities was HK$84,645 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.
CGN Power Co's current Net Income (TTM) was 11,740.
==> 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.
CGN Power Co's return on assets of this year was 0.02584773. CGN Power Co's return on assets of last year was 0.02590058.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
CGN Power Co's gearing of this year was 0.37242488. CGN Power Co's gearing of last year was 0.39286606.
==> 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
CGN Power Co's current ratio of this year was 0.90431169. CGN Power Co's current ratio of last year was 0.94055714.
==> 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.
CGN Power Co's number of shares in issue this year was 50498.611. CGN Power Co's number of shares in issue last year was 50498.611.
==> 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.
CGN Power Co's gross margin of this year was 0.34052622. CGN Power Co's gross margin of last year was 0.36021556.
==> 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
CGN Power Co's asset turnover of this year was 0.20691508. CGN Power Co's asset turnover of last year was 0.1985391.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CGN Power Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
CGN Power Co (HKSE:01816) 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.
CGN Power Co Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of CGN Power Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
CGN Power is a major nuclear power producer in China. It operates 27 nuclear power generating units (total installed capacity of 30.6 gigawatts), with 14 units in Guangdong and the rest in Guangxi, Fujian, and Liaoning provinces as of end-2023. CGN is adding capacity of 8.4 gigawatts into its operations over the next five years. State-owned China General Nuclear Power, controls about 58.9% of CGN Power.
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