Lesi Group (HKSE:02540) Piotroski F-Score: 2 (As of Aug. 07, 2026) — 60% Below Median

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HKSE:02540 Lesi Group Ltd HKSE:02540
44 GF Score
Price HK$0.81
! 8 Warning Signs
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What is Lesi Group Piotroski F-Score?

Lesi Group HKSE:02540 -1.83% 44 Piotroski F-Score is 2 as of Aug. 07, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates HKSE:02540 with a GF Score™ of 44/100. The stock has 8 warning signs investors should review. Among 1,003 Media - Diversified companies, Lesi Group ranks worse than 92.52% on this metric.

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Lesi Group has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Lesi Group's Piotroski F-Score or its related term are showing as below:

HKSE:02540' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 6
Current: 2

During the past 6 years, the highest Piotroski F-Score of Lesi Group was 6. The lowest was 2. And the median was 5.

Lesi Group  (HKSE:02540) 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.


Lesi Group Piotroski F-Score Related Terms


Lesi Group Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Lesi 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.

Lesi Group Piotroski F-Score Chart

Lesi Group Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial N/A 6.00 6.00 3.00 2.00

Lesi Group Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only 6.00 N/A 3.00 0.00 2.00

HKSE:02540 vs APP, OMC, TTD: Piotroski F-Score Comparison

For the Advertising Agencies subindustry, Lesi 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.


Lesi Group Piotroski F-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Lesi Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Lesi Group's Piotroski F-Score falls into.


HKSE:02540
44GF Score
Lesi Group Ltd HKSE:02540
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$44 Mil.
Cash Flow from Operations was HK$-329 Mil.
Revenue was HK$1,711 Mil.
Gross Profit was HK$93 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (870.858 + 1119.454) / 2 = HK$995.156 Mil.
Total Assets at the begining of this year (Dec24) was HK$871 Mil.
Long-Term Debt & Capital Lease Obligation was HK$26 Mil.
Total Current Assets was HK$1,084 Mil.
Total Current Liabilities was HK$376 Mil.
Net Income was HK$77 Mil.

Revenue was HK$728 Mil.
Gross Profit was HK$108 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (640.266 + 870.858) / 2 = HK$755.562 Mil.
Total Assets at the begining of last year (Dec23) was HK$640 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 Mil.
Total Current Assets was HK$866 Mil.
Total Current Liabilities was HK$216 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.

Lesi Group's current Net Income (TTM) was 44. ==> 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.

Lesi Group's current Cash Flow from Operations (TTM) was -329. ==> Negative ==> Score 0.

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)
=43.831/870.858
=0.05033082

ROA (Last Year)=Net Income/Total Assets (Dec23)
=77.394/640.266
=0.12087789

Lesi Group's return on assets of this year was 0.05033082. Lesi Group's return on assets of last year was 0.12087789. ==> 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.

Lesi Group's current Net Income (TTM) was 44. Lesi Group's current Cash Flow from Operations (TTM) was -329. ==> -329 <= 44 ==> CFROA <= ROA ==> Score 0.

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
=26.129/995.156
=0.02625618

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0.683/755.562
=0.00090396

Lesi Group's gearing of this year was 0.02625618. Lesi Group's gearing of last year was 0.00090396. ==> 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
=1084.099/375.719
=2.8853984

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=865.788/216.179
=4.00495885

Lesi Group's current ratio of this year was 2.8853984. Lesi Group's current ratio of last year was 4.00495885. ==> 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.

Lesi Group's number of shares in issue this year was 500. Lesi Group's number of shares in issue last year was 477.397. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=93.075/1711.251
=0.05439003

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=108.303/727.63
=0.14884351

Lesi Group's gross margin of this year was 0.05439003. Lesi Group's gross margin of last year was 0.14884351. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=1711.251/870.858
=1.96501726

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=727.63/640.266
=1.13644954

Lesi Group's asset turnover of this year was 1.96501726. Lesi Group's asset turnover of last year was 1.13644954. ==> 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+0+0+0+0+0+0+0+1
=2

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

Lesi Group has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 2 mean?
Lesi Group (HKSE:02540) has a Piotroski F-Score of 2 as of Aug. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lesi Group and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Lesi Group's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Lesi Group ranks #928 out of 1003 companies in the Media - Diversified industry, placing it in the top 92.5%.
Is Lesi Group's Piotroski F-Score too high?
Lesi Group's current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 6.00. The Media - Diversified industry median Piotroski F-Score is 5.00. Lesi Group's value of 2 is 60% below this industry median. Based on the distribution chart, Lesi Group ranks #928 out of 1003 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Lesi Group has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does Lesi Group's Piotroski F-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Lesi Group ranks #928 out of 1003 companies for Piotroski F-Score. This places Lesi Group in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Lesi Group's value of 2 is 60% below this benchmark. Historically, Lesi Group's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Lesi 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 Media - Diversified company?
The median Piotroski F-Score among Media - Diversified companies is 5.00, based on 1,003 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. Lesi Group's current Piotroski F-Score of 2 is 60% 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 Lesi Group and its competitors. For the Media - Diversified 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. Lesi Group's current Piotroski F-Score is 2, which is 60% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lesi Group stock overvalued right now?
Lesi Group (HKSE:02540) has a current Piotroski F-Score of 2. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Media - Diversified industry median of 5.00. Lesi Group's overall GF Score™ is 44/100 with 8 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 Lesi Group (HKSE:02540), the current Piotroski F-Score is 2 as of Aug. 07, 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.

Lesi Group Business Description

Address No. 10, Jiuxianqiao North Road, Building 4, 8th Floor, Block D, Xingdi Center, Jiangtai Township, Chaoyang District, Beijing, CHN
Lesi Group Ltd is a mobile advertising service provider in the PRC and mainly provide comprehensive mobile advertising services to its customers for marketing of their brands, products and/or services on media platforms operated by its media partners. The company's services include mobile marketing planning, traffic acquisition, production of ad creatives, ad placements, ad optimization, ad campaign management and ad distribution. The company derives revenue from Mobile advertising solutions services and Advertisement distribution services.
44GF Score

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

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