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China Tobacco International (HK) Co (HKSE:06055) 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 Tobacco International (HK) Co Piotroski F-Score Related Terms
China Tobacco International (HK) 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 Tobacco International (HK) Co Piotroski F-Score Chart
HKSE:06055 vs PM, MO, TPB: Piotroski F-Score Comparison
For the Tobacco subindustry, China Tobacco International (HK) 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 Tobacco International (HK) Co Piotroski F-Score vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, China Tobacco International (HK) Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China Tobacco International (HK) 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 Tobacco International (HK) Co's current Net Income (TTM) was 980.
==> 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 Tobacco International (HK) Co's current Cash Flow from Operations (TTM) was 1,209.
==> 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 Tobacco International (HK) Co's return on assets of this year was 0.09985937. China Tobacco International (HK) Co's return on assets of last year was 0.12665949.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China Tobacco International (HK) Co's gearing of this year was 0.00392613. China Tobacco International (HK) Co's gearing of last year was 0.0027575.
==> 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
China Tobacco International (HK) Co's current ratio of this year was 1.68041834. China Tobacco International (HK) Co's current ratio of last year was 1.43428254.
==> This year's current ratio is higher. ==> Score 1.
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 Tobacco International (HK) Co's number of shares in issue this year was 0. China Tobacco International (HK) Co's number of shares in issue last year was 0.
==> 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.
China Tobacco International (HK) Co's gross margin of this year was 0.09721972. China Tobacco International (HK) Co's gross margin of last year was 0.10118704.
==> 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
China Tobacco International (HK) Co's asset turnover of this year was 1.48513613. China Tobacco International (HK) Co's asset turnover of last year was 1.93968499.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Tobacco International (HK) Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
China Tobacco International (HK) Co (HKSE:06055) has a Piotroski F-Score of 5 as of Sep. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China Tobacco International (HK) Co and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, China Tobacco International (HK) Co's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, China Tobacco International (HK) Co ranks #23 out of 46 companies in the Tobacco Products industry, placing it in the top 50%.
Is China Tobacco International (HK) Co's Piotroski F-Score too high?
China Tobacco International (HK) Co's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Tobacco Products industry median Piotroski F-Score is 5.00. China Tobacco International (HK) Co's value of 5 is 0% at this industry median. Based on the distribution chart, China Tobacco International (HK) Co ranks #23 out of 46 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, China Tobacco International (HK) Co has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Tobacco International (HK) Co's Piotroski F-Score compare to PM and MO?
According to the Tobacco Products industry distribution chart, China Tobacco International (HK) Co ranks #23 out of 46 companies for Piotroski F-Score. This puts China Tobacco International (HK) Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. China Tobacco International (HK) Co's value of 5 is 0% at this benchmark. Historically, China Tobacco International (HK) Co's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, China Tobacco International (HK) Co has consistently been at 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 Tobacco Products company?
The median Piotroski F-Score among Tobacco Products companies is 5.00, based on 46 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 Tobacco International (HK) Co's current Piotroski F-Score of 5 is 0% at 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 Tobacco International (HK) Co and its competitors. For the Tobacco Products 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 Tobacco International (HK) Co's current Piotroski F-Score is 5, which is 17% 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 China Tobacco International (HK) Co stock overvalued right now?
Based on GuruFocus' analysis, China Tobacco International (HK) Co (HKSE:06055) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$21.42, compared to a current price of HK$24.34 — trading 13.6% above its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Tobacco Products industry median of 5.00. China Tobacco International (HK) Co's overall GF Score™ is 88/100 with 2 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 Tobacco International (HK) Co (HKSE:06055), the current Piotroski F-Score is 5 as of Sep. 21, 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 Tobacco International (HK) Co (HKSE:06055) Overvalued in 2026?
Based on GuruFocus' analysis, China Tobacco International (HK) Co stock appears to be overvalued.
The current stock price of HK$24.34 is trading 13.6% above its estimated GF Value™ of HK$21.42.
GuruFocus considers China Tobacco International (HK) Co to be Modestly Overvalued.
Key valuation signals for HKSE:06055:
Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
GF Value™: HK$21.42 vs. price of HK$24.34 (13.6% above fair value)
Industry Position: 0% at the Tobacco Products median (#23 of 46)
No single metric tells the full story. See the HKSE:06055 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Tobacco International (HK) Co Ltd is engaged in the tobacco business. It operates through various segments namely the Tobacco Leaf Products Export Business, the Tobacco Leaf Product Import Business, the Cigarettes Export Business, the New Tobacco Product Export Business, and the Brazil Operation Business. The company's geographical segments are China (excluding the SARs), Indonesia, Korea, Hong Kong, Philippines, Vietnam, Brazil, Belgium, Poland, Paraguay, Egypt, and others, of which it derives maximum revenue from the PRC. It earns maximum revenue from the Tobacco Leaf Product Import Business.
88GF 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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