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Smart-Core HoldingsHKSE:02166 -4.06%59 Piotroski F-Score is 4 as of Sep. 02, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates HKSE:02166 with a GF Score™ of 59/100 and a GF Value™ of HK$1.52 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,445 Hardware companies, Smart-Core Holdings ranks worse than 62.74% 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
Smart-Core Holdings 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 Smart-Core Holdings's Piotroski F-Score or its related term are showing as below:
HKSE:02166'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 4
During the past 13 years, the highest Piotroski F-Score of Smart-Core Holdings was 7. The lowest was 3. And the median was 6.
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.
Smart-Core Holdings Piotroski F-Score Related Terms
Smart-Core Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Smart-Core 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:02166 vs SNX, ARW, AVT: Piotroski F-Score Comparison
For the Electronics & Computer Distribution subindustry, Smart-Core 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.
Smart-Core Holdings Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Smart-Core Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Smart-Core 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.
Smart-Core Holdings's current Net Income (TTM) was 161.
==> 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.
Smart-Core Holdings's return on assets of this year was 0.09525443. Smart-Core Holdings's return on assets of last year was 0.05765797.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Smart-Core Holdings's gearing of this year was 0.01436426. Smart-Core Holdings's gearing of last year was 0.00302777.
==> 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
Smart-Core Holdings's current ratio of this year was 1.56802662. Smart-Core Holdings's current ratio of last year was 1.83701424.
==> 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.
Smart-Core Holdings's number of shares in issue this year was 466.424. Smart-Core Holdings's number of shares in issue last year was 469.17.
==> 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.
Smart-Core Holdings's gross margin of this year was 0.06214298. Smart-Core Holdings's gross margin of last year was 0.06705873.
==> 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
Smart-Core Holdings's asset turnover of this year was 3.89045797. Smart-Core Holdings's asset turnover of last year was 2.67074873.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Smart-Core Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Smart-Core Holdings (HKSE:02166) has a Piotroski F-Score of 4 as of Sep. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Smart-Core Holdings and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Smart-Core Holdings' Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Smart-Core Holdings ranks #1534 out of 2445 companies in the Hardware industry, placing it in the top 62.7%.
Is Smart-Core Holdings' Piotroski F-Score too high?
Smart-Core Holdings' 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 3.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. Smart-Core Holdings' value of 4 is 20% below this industry median. Based on the distribution chart, Smart-Core Holdings ranks #1534 out of 2445 companies in the Hardware industry, which is below the industry midpoint. Overall, Smart-Core Holdings has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Smart-Core Holdings' Piotroski F-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Smart-Core Holdings ranks #1534 out of 2445 companies for Piotroski F-Score. This places Smart-Core Holdings in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Smart-Core Holdings' value of 4 is 20% below this benchmark. Historically, Smart-Core Holdings' own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Smart-Core Holdings 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,445 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. Smart-Core Holdings'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 Smart-Core Holdings and its competitors. For the Hardware 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. Smart-Core Holdings'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 Smart-Core Holdings stock overvalued right now?
Based on GuruFocus' analysis, Smart-Core Holdings (HKSE:02166) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$1.52, compared to a current price of HK$4.61 — trading 203% 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 Hardware industry median of 5.00. Smart-Core Holdings' overall GF Score™ is 59/100 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 Smart-Core Holdings (HKSE:02166), the current Piotroski F-Score is 4 as of Sep. 02, 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 Smart-Core Holdings (HKSE:02166) Overvalued in 2026?
Based on GuruFocus' analysis, Smart-Core Holdings stock appears to be overvalued.
The current stock price of HK$4.61 is trading 203% above its estimated GF Value™ of HK$1.52.
GuruFocus considers Smart-Core Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:02166:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: HK$1.52 vs. price of HK$4.61 (203% above fair value)
Industry Position: 20% below the Hardware median (#1534 of 2445)
No single metric tells the full story. See the HKSE:02166 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smart-Core Holdings Ltd is a distributor of integrated circuits and other electronic components and technology value-added service providers covering multiple market segments such as televisions, optoelectronic displays, smart terminals, memory, security monitoring, Internet of Things (IoT), and optical communications. Its service networks cover the majority of regions in Mainland China and Southeast Asia, providing diversified supply chain services of semiconductor chips and various electronic components for customers in the electronics industry, as well as corresponding technical solutions, technical support, and software services. Its segments include Authorised distribution and Mixed distribution. It makes up the majority of the revenue from the Authorised distribution segment.
59GF Score
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