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Huayu Expressway GroupHKSE:01823 -0.38%39 Piotroski F-Score is 4 as of Aug. 22, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates HKSE:01823 with a GF Score™ of 39/100 and a GF Value™ of HK$0.33 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,738 Construction companies, Huayu Expressway Group ranks worse than 65.82% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Huayu Expressway Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Huayu Expressway Group's Piotroski F-Score or its related term are showing as below:
HKSE:01823'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 6 Max: 9
Current: 4
During the past 13 years, the highest Piotroski F-Score of Huayu Expressway Group was 9. The lowest was 1. And the median was 6.
Huayu Expressway Group (HKSE:01823) 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.
Huayu Expressway Group Piotroski F-Score Related Terms
Huayu Expressway Group Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Huayu Expressway Group'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.
Huayu Expressway Group Piotroski F-Score Competitor Comparison
For the Infrastructure Operations subindustry, Huayu Expressway 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.
Huayu Expressway Group Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, Huayu Expressway Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Huayu Expressway 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.
Huayu Expressway Group's current Net Income (TTM) was -39.9.
==> 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.
Huayu Expressway Group's current Cash Flow from Operations (TTM) was 16.9.
==> 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.
Huayu Expressway Group's return on assets of this year was -0.02647013. Huayu Expressway Group's return on assets of last year was -0.00665261.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Huayu Expressway Group's gearing of this year was 0.1313882. Huayu Expressway Group's gearing of last year was 0.07428487.
==> Last year is lower than this year ==> Score 0.
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
Huayu Expressway Group's current ratio of this year was 3.35757608. Huayu Expressway Group's current ratio of last year was 3.04494247.
==> 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.
Huayu Expressway Group's number of shares in issue this year was 412.608. Huayu Expressway Group's number of shares in issue last year was 412.608.
==> 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.
Huayu Expressway Group's gross margin of this year was 0.16029836. Huayu Expressway Group's gross margin of last year was 0.19936754.
==> 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
Huayu Expressway Group's asset turnover of this year was 0.1028343. Huayu Expressway Group's asset turnover of last year was 0.15482797.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Huayu Expressway Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Huayu Expressway Group (HKSE:01823) has a Piotroski F-Score of 4 as of Aug. 22, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Huayu Expressway Group and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Huayu Expressway Group's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, Huayu Expressway Group ranks #1144 out of 1738 companies in the Construction industry, placing it in the top 65.8%.
Is Huayu Expressway Group's Piotroski F-Score too high?
Huayu Expressway Group's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Construction industry median Piotroski F-Score is 5.00. Huayu Expressway Group's value of 4 is 20% below this industry median. Based on the distribution chart, Huayu Expressway Group ranks #1144 out of 1738 companies in the Construction industry, which is below the industry midpoint. Overall, Huayu Expressway Group has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Huayu Expressway Group's Piotroski F-Score compare to competitors?
According to the Construction industry distribution chart, Huayu Expressway Group ranks #1144 out of 1738 companies for Piotroski F-Score. This places Huayu Expressway Group in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Huayu Expressway Group's value of 4 is 20% below this benchmark. Historically, Huayu Expressway Group's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Huayu Expressway 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 1,738 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. Huayu Expressway Group's current Piotroski F-Score of 4 is 20% 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 Huayu Expressway 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. Huayu Expressway Group's current Piotroski F-Score is 4, which is 33% below 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 Huayu Expressway Group stock overvalued right now?
Based on GuruFocus' analysis, Huayu Expressway Group (HKSE:01823) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.33, compared to a current price of HK$1.30 — trading 292.4% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Construction industry median of 5.00. Huayu Expressway Group's overall GF Score™ is 39/100 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 Huayu Expressway Group (HKSE:01823), the current Piotroski F-Score is 4 as of Aug. 22, 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 Huayu Expressway Group (HKSE:01823) Overvalued in 2026?
Based on GuruFocus' analysis, Huayu Expressway Group stock appears to be overvalued.
The current stock price of HK$1.30 is trading 292.4% above its estimated GF Value™ of HK$0.33.
GuruFocus considers Huayu Expressway Group to be Significantly Overvalued.
Key valuation signals for HKSE:01823:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: HK$0.33 vs. price of HK$1.30 (292.4% above fair value)
Industry Position: 20% below the Construction median (#1144 of 1738)
No single metric tells the full story. See the HKSE:01823 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Huayu Expressway Group Ltd is principally engaged in the construction, operation and management of the Qing Ping Expressway in the PRC. It also engages in the trading business of liquor and spirits in collaboration with the Kweichow Moutai Group and is the sole distributor of the Huamaojiu (liquor brand), as well as engages in winemaking and its other related businesses. It has two reportable segments Qing Ping Expressway, construction, operation and management of the Qing Ping Expressway; and Liquor and spirits, mainly distribution of Huamaojiu. The majority of the revenue comes from the Liquor and spirits segment. The company has presence in a single geographical region, which is Mainland China.
39GF Score
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