STAR CM Holdings (HKSE:06698) Piotroski F-Score: 7 (As of Sep. 11, 2026) — 40% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:06698 STAR CM Holdings Ltd HKSE:06698
70 GF Score
Price HK$0.81
GF Value HK$1.81
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is STAR CM Holdings Piotroski F-Score?

STAR CM Holdings HKSE:06698 -4.14% 70 Piotroski F-Score is 7 as of Sep. 11, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates HKSE:06698 with a GF Score™ of 70/100 and a GF Value™ of HK$1.81 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,002 Media - Diversified companies, STAR CM Holdings ranks better than 91.72% on this metric.

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

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

STAR CM Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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

HKSE:06698' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 7

During the past 7 years, the highest Piotroski F-Score of STAR CM Holdings was 7. The lowest was 3. And the median was 5.

STAR CM Holdings  (HKSE:06698) 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.


STAR CM Holdings Piotroski F-Score Related Terms


STAR CM Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for STAR CM 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.

STAR CM Holdings Piotroski F-Score Chart

STAR CM Holdings Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial 4.00 6.00 3.00 5.00 7.00

STAR CM Holdings Semi-Annual Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 5.00 0.00 7.00 0.00

HKSE:06698 vs NFLX, DIS, WBD: Piotroski F-Score Comparison

For the Entertainment subindustry, STAR CM 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.


STAR CM Holdings Piotroski F-Score vs Media - Diversified Industry

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

* The bar in red indicates where STAR CM Holdings's Piotroski F-Score falls into.


HKSE:06698
70GF Score
STAR CM Holdings Ltd HKSE:06698
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$-130.5 Mil.
Cash Flow from Operations was HK$-20.3 Mil.
Revenue was HK$185.9 Mil.
Gross Profit was HK$97.4 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (3095.028 + 2984.897) / 2 = HK$3039.9625 Mil.
Total Assets at the begining of this year (Dec24) was HK$3,095.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.5 Mil.
Total Current Assets was HK$702.9 Mil.
Total Current Liabilities was HK$186.2 Mil.
Net Income was HK$-248.3 Mil.

Revenue was HK$174.2 Mil.
Gross Profit was HK$42.7 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (3517.463 + 3095.028) / 2 = HK$3306.2455 Mil.
Total Assets at the begining of last year (Dec23) was HK$3,517.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2.5 Mil.
Total Current Assets was HK$759.5 Mil.
Total Current Liabilities was HK$241.1 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.

STAR CM Holdings's current Net Income (TTM) was -130.5. ==> Negative ==> Score 0.

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.

STAR CM Holdings's current Cash Flow from Operations (TTM) was -20.3. ==> 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)
=-130.527/3095.028
=-0.04217312

ROA (Last Year)=Net Income/Total Assets (Dec23)
=-248.278/3517.463
=-0.0705844

STAR CM Holdings's return on assets of this year was -0.04217312. STAR CM Holdings's return on assets of last year was -0.0705844. ==> This year is higher. ==> Score 1.

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.

STAR CM Holdings's current Net Income (TTM) was -130.5. STAR CM Holdings's current Cash Flow from Operations (TTM) was -20.3. ==> -20.3 > -130.5 ==> 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
=0.529/3039.9625
=0.00017402

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=2.465/3306.2455
=0.00074556

STAR CM Holdings's gearing of this year was 0.00017402. STAR CM Holdings's gearing of last year was 0.00074556. ==> This year is lower or equal to last year. ==> Score 1.

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
=702.92/186.178
=3.77552665

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=759.46/241.08
=3.15024058

STAR CM Holdings's current ratio of this year was 3.77552665. STAR CM Holdings's current ratio of last year was 3.15024058. ==> 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.

STAR CM Holdings's number of shares in issue this year was 398.538. STAR CM Holdings's number of shares in issue last year was 398.538. ==> 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
=97.354/185.899
=0.52369297

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=42.691/174.187
=0.24508718

STAR CM Holdings's gross margin of this year was 0.52369297. STAR CM Holdings's gross margin of last year was 0.24508718. ==> 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)
=185.899/3095.028
=0.06006375

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=174.187/3517.463
=0.04952063

STAR CM Holdings's asset turnover of this year was 0.06006375. STAR CM Holdings's asset turnover of last year was 0.04952063. ==> 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
=0+0+1+1+1+1+1+1+1
=7

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

STAR CM Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
STAR CM Holdings (HKSE:06698) has a Piotroski F-Score of 7 as of Sep. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on STAR CM Holdings and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, STAR CM Holdings' Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, STAR CM Holdings ranks #83 out of 1002 companies in the Media - Diversified industry, placing it in the top 8.3%.
Is STAR CM Holdings' Piotroski F-Score too high?
STAR CM Holdings' current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Media - Diversified industry median Piotroski F-Score is 5.00. STAR CM Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, STAR CM Holdings ranks #83 out of 1002 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, STAR CM Holdings has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does STAR CM Holdings' Piotroski F-Score compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, STAR CM Holdings ranks #83 out of 1002 companies for Piotroski F-Score. This places STAR CM Holdings in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. STAR CM Holdings' value of 7 is 40% above this benchmark. Historically, STAR CM 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 5.00 vs. the industry median of 5.00, STAR CM Holdings 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 Media - Diversified company?
The median Piotroski F-Score among Media - Diversified companies is 5.00, based on 1,002 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. STAR CM Holdings's current Piotroski F-Score of 7 is 40% 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 STAR CM Holdings 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. STAR CM Holdings's current Piotroski F-Score is 7, which is 40% 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 STAR CM Holdings stock overvalued right now?
Based on GuruFocus' analysis, STAR CM Holdings (HKSE:06698) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.81, compared to a current price of HK$0.81 — trading 55.2% below its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Media - Diversified industry median of 5.00. STAR CM Holdings' overall GF Score™ is 70/100 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 STAR CM Holdings (HKSE:06698), the current Piotroski F-Score is 7 as of Sep. 11, 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 STAR CM Holdings (HKSE:06698) Overvalued in 2026?

Based on GuruFocus' analysis, STAR CM Holdings stock appears to be undervalued. The current stock price of HK$0.81 is trading 55.2% below its estimated GF Value™ of HK$1.81. GuruFocus considers STAR CM Holdings to be Possible Value Trap.

Key valuation signals for HKSE:06698:

  • Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
  • GF Value™: HK$1.81 vs. price of HK$0.81 (55.2% below fair value)
  • GF Score™: 70/100 with 4 warning signs
  • Industry Position: 40% above the Media - Diversified median (#83 of 1002)

No single metric tells the full story. See the HKSE:06698 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


STAR CM Holdings Business Description

Address No. 158 Longqi Road, 23rd Floor, Canxing Building, Shanghai, CHN
STAR CM Holdings Ltd is an investment holding company. The company's subsidiaries are principally involved in variety program intellectual property (IP) production, operation and licensing, music IP operation and licensing, drama series and film IP operation and licensing and other IP-related business. The company owns a diverse and wide range of popular variety show IPs, including music programs, dance programs, talent shows, talk shows, outdoor/cultural programs, and other variety shows. Geographically, the company derives the majority of revenue from Mainland China, followed by the USA, the United Kingdom, Japan, Hong Kong, Macau, and Other regions.
70GF Score

Get the complete analysis for HKSE:06698

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

HK$0.81
Price
HK$1.81
GF Value