China CITIC Financial Asset Management Co (HKSE:02799) 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.
China CITIC Financial Asset Management Co Piotroski F-Score Related Terms
China CITIC Financial Asset Management Co Piotroski F-Score Historical Data
* 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.
China CITIC Financial Asset Management Co Piotroski F-Score Chart
China CITIC Financial Asset Management Co Annual Data
HKSE:02799 vs BLK, BX, KKR: Piotroski F-Score Comparison
For the Asset Management subindustry, China CITIC Financial Asset Management Co'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.
China CITIC Financial Asset Management Co Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, China CITIC Financial Asset Management Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China CITIC Financial Asset Management Co'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.
China CITIC Financial Asset Management Co's current Net Income (TTM) was 12,247.
==> 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.
China CITIC Financial Asset Management Co's current Cash Flow from Operations (TTM) was 18,575.
==> 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.
China CITIC Financial Asset Management Co's return on assets of this year was 0.01165333. China CITIC Financial Asset Management Co's return on assets of last year was 0.00969813.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China CITIC Financial Asset Management Co's gearing of this year was 0.95125681. China CITIC Financial Asset Management Co's gearing of last year was 0.88816069.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
China CITIC Financial Asset Management Co's current ratio of this year was 1.05294317. China CITIC Financial Asset Management Co's current ratio of last year was 1.05324869.
==> 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.
China CITIC Financial Asset Management Co's number of shares in issue this year was 80246.679. China CITIC Financial Asset Management Co's number of shares in issue last year was 80246.679.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
China CITIC Financial Asset Management Co's net margin of this year was 0.51915009. China CITIC Financial Asset Management Co's net margin of last year was 1.04280562.
==> Last year's net 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
China CITIC Financial Asset Management Co's asset turnover of this year was 0.02244693. China CITIC Financial Asset Management Co's asset turnover of last year was 0.00930004.
==> 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
China CITIC Financial Asset Management Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
China CITIC Financial Asset Management Co (HKSE:02799) has a Piotroski F-Score of 6 as of Jul. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China CITIC Financial Asset Management Co and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, China CITIC Financial Asset Management Co's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, China CITIC Financial Asset Management Co ranks #278 out of 1601 companies in the Asset Management industry, placing it in the top 17.4%.
Is China CITIC Financial Asset Management Co's Piotroski F-Score too high?
China CITIC Financial Asset Management Co's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Asset Management industry median Piotroski F-Score is 5.00. China CITIC Financial Asset Management Co's value of 6 is 20% above this industry median. Based on the distribution chart, China CITIC Financial Asset Management Co ranks #278 out of 1601 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, China CITIC Financial Asset Management Co has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does China CITIC Financial Asset Management Co's Piotroski F-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, China CITIC Financial Asset Management Co ranks #278 out of 1601 companies for Piotroski F-Score. This places China CITIC Financial Asset Management Co in the top 17% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. China CITIC Financial Asset Management Co's value of 6 is 20% above this benchmark. Historically, China CITIC Financial Asset Management Co's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, China CITIC Financial Asset Management Co 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,601 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. China CITIC Financial Asset Management Co'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 China CITIC Financial Asset Management Co and its competitors. For the Asset Management 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. China CITIC Financial Asset Management Co's current Piotroski F-Score is 6, which is 20% above 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 China CITIC Financial Asset Management Co stock overvalued right now?
Based on GuruFocus' analysis, China CITIC Financial Asset Management Co (HKSE:02799) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.90, compared to a current price of HK$0.56 — trading 70.5% below its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Asset Management industry median of 5.00. China CITIC Financial Asset Management Co's overall GF Score™ is 46/100 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 China CITIC Financial Asset Management Co (HKSE:02799), the current Piotroski F-Score is 6 as of Jul. 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.
Is China CITIC Financial Asset Management Co (HKSE:02799) Overvalued in 2026?
Based on GuruFocus' analysis, China CITIC Financial Asset Management Co stock appears to be undervalued.
The current stock price of HK$0.56 is trading 70.5% below its estimated GF Value™ of HK$1.90.
GuruFocus considers China CITIC Financial Asset Management Co to be Possible Value Trap.
Key valuation signals for HKSE:02799:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: HK$1.90 vs. price of HK$0.56 (70.5% below fair value)
Industry Position: 20% above the Asset Management median (#278 of 1601)
No single metric tells the full story. See the HKSE:02799 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China CITIC Financial Asset Management Co Business Description
China CITIC Financial Asset Management Co Ltd engages in distressed asset management, financial services, and asset management and investment businesses in the PRC. It has two operating segments: Distressed asset management segment: mainly includes acquisition-and-disposal business, relief and revitalization business, equity business, and assets acquisition-and-restructuring business of the Company, and distressed asset-related business conducted by its subsidiaries; the Asset management and investment segment, which mainly includes international business and other business. Geographically, operates in Mainland China and Hong Kong, maximum from Mainland China.
46GF 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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