EuroEyes International Eye Clinic (HKSE:01846) Piotroski F-Score: 6 (As of Jul. 20, 2026) — Near Median

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HKSE:01846 EuroEyes International Eye Clinic Ltd HKSE:01846
79 GF Score
Price HK$2.48
GF Value HK$5.54
Valuation Significantly Undervalued
! 5 Warning Signs
View Full Analysis

What is EuroEyes International Eye Clinic Piotroski F-Score?

EuroEyes International Eye Clinic HKSE:01846 79 Piotroski F-Score is 6 as of Jul. 20, 2026, which is at its 10-year median of 6.00. GuruFocus rates HKSE:01846 with a GF Score™ of 79/100 and a GF Value™ of HK$5.54 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 646 Healthcare Providers & Services companies, EuroEyes International Eye Clinic ranks better than 74.61% 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

EuroEyes International Eye Clinic 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 EuroEyes International Eye Clinic's Piotroski F-Score or its related term are showing as below:

HKSE:01846' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 10 years, the highest Piotroski F-Score of EuroEyes International Eye Clinic was 8. The lowest was 3. And the median was 6.

EuroEyes International Eye Clinic  (HKSE:01846) 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.


EuroEyes International Eye Clinic Piotroski F-Score Related Terms


EuroEyes International Eye Clinic Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for EuroEyes International Eye Clinic'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.

EuroEyes International Eye Clinic Piotroski F-Score Chart

EuroEyes International Eye Clinic Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 3.00 7.00 6.00 6.00

EuroEyes International Eye Clinic Semi-Annual Data
Dec16 Dec17 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 7.00 0.00 6.00 0.00 6.00

HKSE:01846 vs HCA, THC, DVA: Piotroski F-Score Comparison

For the Medical Care Facilities subindustry, EuroEyes International Eye Clinic'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.


EuroEyes International Eye Clinic Piotroski F-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, EuroEyes International Eye Clinic's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where EuroEyes International Eye Clinic's Piotroski F-Score falls into.


HKSE:01846
79GF Score
EuroEyes International Eye Clinic Ltd HKSE:01846
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was HK$54.5 Mil.
Cash Flow from Operations was HK$193.8 Mil.
Revenue was HK$796.0 Mil.
Gross Profit was HK$324.3 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (1599.435 + 1952.235) / 2 = HK$1775.835 Mil.
Total Assets at the begining of this year (Dec24) was HK$1,599.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$326.0 Mil.
Total Current Assets was HK$776.7 Mil.
Total Current Liabilities was HK$278.4 Mil.
Net Income was HK$82.3 Mil.

Revenue was HK$715.7 Mil.
Gross Profit was HK$286.6 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (1753.598 + 1599.435) / 2 = HK$1676.5165 Mil.
Total Assets at the begining of last year (Dec23) was HK$1,753.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$250.6 Mil.
Total Current Assets was HK$713.6 Mil.
Total Current Liabilities was HK$152.2 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.

EuroEyes International Eye Clinic's current Net Income (TTM) was 54.5. ==> 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.

Score 1 if positive, 0 if negative.

EuroEyes International Eye Clinic's current Cash Flow from Operations (TTM) was 193.8. ==> 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 (Dec24)
=54.45/1599.435
=0.03404327

ROA (Last Year)=Net Income/Total Assets (Dec23)
=82.285/1753.598
=0.04692353

EuroEyes International Eye Clinic's return on assets of this year was 0.03404327. EuroEyes International Eye Clinic's return on assets of last year was 0.04692353. ==> 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.

EuroEyes International Eye Clinic's current Net Income (TTM) was 54.5. EuroEyes International Eye Clinic's current Cash Flow from Operations (TTM) was 193.8. ==> 193.8 > 54.5 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=326.02/1775.835
=0.18358688

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=250.574/1676.5165
=0.1494611

EuroEyes International Eye Clinic's gearing of this year was 0.18358688. EuroEyes International Eye Clinic's gearing of last year was 0.1494611. ==> 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=776.652/278.388
=2.78981853

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=713.6/152.175
=4.68933793

EuroEyes International Eye Clinic's current ratio of this year was 2.78981853. EuroEyes International Eye Clinic's current ratio of last year was 4.68933793. ==> 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.

EuroEyes International Eye Clinic's number of shares in issue this year was 319.812. EuroEyes International Eye Clinic's number of shares in issue last year was 330.269. ==> 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
=324.332/796.041
=0.40743128

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=286.593/715.682
=0.40044741

EuroEyes International Eye Clinic's gross margin of this year was 0.40743128. EuroEyes International Eye Clinic's gross margin of last year was 0.40044741. ==> 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 (Dec24)
=796.041/1599.435
=0.49770138

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=715.682/1753.598
=0.40812204

EuroEyes International Eye Clinic's asset turnover of this year was 0.49770138. EuroEyes International Eye Clinic's asset turnover of last year was 0.40812204. ==> 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
=1+1+0+1+0+0+1+1+1
=6

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

EuroEyes International Eye Clinic has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
EuroEyes International Eye Clinic (HKSE:01846) has a Piotroski F-Score of 6 as of Jul. 20, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on EuroEyes International Eye Clinic and its competitors. This is near median its historical median of 6.00. Over the past decade, EuroEyes International Eye Clinic's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, EuroEyes International Eye Clinic ranks #164 out of 646 companies in the Healthcare Providers & Services industry, placing it in the top 25.4%.
Is EuroEyes International Eye Clinic's Piotroski F-Score too high?
EuroEyes International Eye Clinic's 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 3.00 to a high of 8.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. EuroEyes International Eye Clinic's value of 6 is 20% above this industry median. Based on the distribution chart, EuroEyes International Eye Clinic ranks #164 out of 646 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, EuroEyes International Eye Clinic has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does EuroEyes International Eye Clinic's Piotroski F-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, EuroEyes International Eye Clinic ranks #164 out of 646 companies for Piotroski F-Score. This puts EuroEyes International Eye Clinic in the upper half of its industry. The industry median Piotroski F-Score is 5.00. EuroEyes International Eye Clinic's value of 6 is 20% above this benchmark. Historically, EuroEyes International Eye Clinic's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, EuroEyes International Eye Clinic 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 Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 646 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. EuroEyes International Eye Clinic'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 EuroEyes International Eye Clinic and its competitors. For the Healthcare Providers & Services 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. EuroEyes International Eye Clinic'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 EuroEyes International Eye Clinic stock overvalued right now?
Based on GuruFocus' analysis, EuroEyes International Eye Clinic (HKSE:01846) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$5.54, compared to a current price of HK$2.48 — trading 55.2% below 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 Healthcare Providers & Services industry median of 5.00. EuroEyes International Eye Clinic's overall GF Score™ is 79/100 with 5 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 EuroEyes International Eye Clinic (HKSE:01846), the current Piotroski F-Score is 6 as of Jul. 20, 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 EuroEyes International Eye Clinic (HKSE:01846) Overvalued in 2026?

Based on GuruFocus' analysis, EuroEyes International Eye Clinic stock appears to be undervalued. The current stock price of HK$2.48 is trading 55.2% below its estimated GF Value™ of HK$5.54. GuruFocus considers EuroEyes International Eye Clinic to be Significantly Undervalued.

Key valuation signals for HKSE:01846:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: HK$5.54 vs. price of HK$2.48 (55.2% below fair value)
  • GF Score™: 79/100 with 5 warning signs
  • Industry Position: 20% above the Healthcare Providers & Services median (#164 of 646)

No single metric tells the full story. See the HKSE:01846 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


EuroEyes International Eye Clinic Business Description

Address Valentinskamp 90, Hamburg, DEU, 20355
EuroEyes International Eye Clinic Ltd is principally engaged in the provision of vision correction services in Germany, Denmark, the UK, the PRC including Hong Kong, and Switzerland. The Group is a high-end vision correction service provider in Germany, PRC, the UK, Denmark, and Switzerland. Its vision correction services include refractive laser surgery, phakic lens surgery (ICL), lens exchange surgery, and others including PRK/LASEK and ICRS implantation. Its revenue categories include provision of vision correction services generate maximum revenue, training services, sales of pharmaceutical products and others. The Group's five reportable segments are Germany generate maximum revenue, Denmark, UK, Chinese Mainland, and Switzerland.
79GF Score

Get the complete analysis for HKSE:01846

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$2.48
Price
HK$5.54
GF Value