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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Snack Empire Holdings Piotroski F-Score Related Terms
Snack Empire Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Snack Empire 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.
HKSE:01843 vs MCD, SBUX, YUM: Piotroski F-Score Comparison
For the Restaurants subindustry, Snack Empire 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.
Snack Empire Holdings Piotroski F-Score vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Snack Empire Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Snack Empire Holdings'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.
Snack Empire Holdings's current Net Income (TTM) was -2.8.
==> 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.
Snack Empire Holdings's return on assets of this year was -0.01420206. Snack Empire Holdings's return on assets of last year was 0.00545016.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Snack Empire Holdings's gearing of this year was 0.09322074. Snack Empire Holdings's gearing of last year was 0.10275383.
==> 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
Snack Empire Holdings's current ratio of this year was 3.96025025. Snack Empire Holdings's current ratio of last year was 4.79573939.
==> 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.
Snack Empire Holdings's number of shares in issue this year was 800. Snack Empire Holdings's number of shares in issue last year was 800.
==> 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.
Snack Empire Holdings's gross margin of this year was 0.63189735. Snack Empire Holdings's gross margin of last year was 0.62015272.
==> 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
Snack Empire Holdings's asset turnover of this year was 0.86938751. Snack Empire Holdings's asset turnover of last year was 0.76203057.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Snack Empire Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Snack Empire Holdings (HKSE:01843) has a Piotroski F-Score of 6 as of Jul. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Snack Empire Holdings and its competitors. This is near median its historical median of 6.00. Over the past decade, Snack Empire Holdings' Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Snack Empire Holdings ranks #97 out of 356 companies in the Restaurants industry, placing it in the top 27.2%.
Is Snack Empire Holdings' Piotroski F-Score too high?
Snack Empire Holdings' current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Restaurants industry median Piotroski F-Score is 5.00. Snack Empire Holdings' value of 6 is 20% above this industry median. Based on the distribution chart, Snack Empire Holdings ranks #97 out of 356 companies in the Restaurants industry, which is above the industry midpoint. Overall, Snack Empire Holdings has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Snack Empire Holdings' Piotroski F-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Snack Empire Holdings ranks #97 out of 356 companies for Piotroski F-Score. This puts Snack Empire Holdings in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Snack Empire Holdings' value of 6 is 20% above this benchmark. Historically, Snack Empire Holdings' own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Snack Empire 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 a Restaurants company?
The median Piotroski F-Score among Restaurants companies is 5.00, based on 356 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. Snack Empire Holdings's current Piotroski F-Score of 6 is 20% 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 Snack Empire Holdings and its competitors. For the Restaurants 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. Snack Empire Holdings's current Piotroski F-Score is 6, which is near 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 Snack Empire Holdings stock overvalued right now?
Based on GuruFocus' analysis, Snack Empire Holdings (HKSE:01843) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.23, compared to a current price of HK$0.24 — trading 5.7% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Restaurants industry median of 5.00. Snack Empire Holdings' overall GF Score™ is 58/100 with 4 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 Snack Empire Holdings (HKSE:01843), the current Piotroski F-Score is 6 as of Jul. 26, 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 Snack Empire Holdings (HKSE:01843) Overvalued in 2026?
Based on GuruFocus' analysis, Snack Empire Holdings stock appears to be overvalued.
The current stock price of HK$0.24 is trading 5.7% above its estimated GF Value™ of HK$0.23.
GuruFocus considers Snack Empire Holdings to be Fairly Valued.
Key valuation signals for HKSE:01843:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: HK$0.23 vs. price of HK$0.24 (5.7% above fair value)
Industry Position: 20% above the Restaurants median (#97 of 356)
No single metric tells the full story. See the HKSE:01843 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Snack Empire Holdings Ltd is a food and beverage group offering Taiwanese Snacks and Beverages under the Shihlin Taiwan Street Snacks brand. The company operates two basic models, namely the Self-operated model and the franchise and license model. Its geographical segments include Singapore and Malaysia, out of which the majority of the revenue is generated from Singapore.
58GF Score
Get the complete analysis for HKSE:01843
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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