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DLC AsiaHKSE:08210 Piotroski F-Score is 3 as of Aug. 13, 2026, which is 25% below its 10-year median of 4.00. The stock has 3 warning signs investors should review. Among 784 Capital Markets companies, DLC Asia ranks worse than 78.7% on this metric.
Warning Sign:
Piotroski F-Score of 3 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
DLC Asia has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for DLC Asia's Piotroski F-Score or its related term are showing as below:
HKSE:08210'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 4 Max: 7
Current: 3
During the past 11 years, the highest Piotroski F-Score of DLC Asia was 7. The lowest was 3. And the median was 4.
DLC Asia (HKSE:08210) 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.
DLC Asia Piotroski F-Score Related Terms
DLC Asia Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for DLC Asia'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:08210 vs MS, GS, SCHW: Piotroski F-Score Comparison
For the Capital Markets subindustry, DLC Asia'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.
DLC Asia Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, DLC Asia's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where DLC Asia'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.
DLC Asia's current Net Income (TTM) was -11.22.
==> 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.
DLC Asia's return on assets of this year was -0.12050483. DLC Asia's return on assets of last year was 0.00143794.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
DLC Asia's gearing of this year was 0.01664063. DLC Asia's gearing of last year was 0.03078454.
==> 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
DLC Asia's current ratio of this year was 14.01364113. DLC Asia's current ratio of last year was 19.13592446.
==> 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.
DLC Asia's number of shares in issue this year was 800. DLC Asia's number of shares in issue last year was 800.
==> 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.
DLC Asia's gross margin of this year was 0.12666892. DLC Asia's gross margin of last year was 0.35097386.
==> 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
DLC Asia's asset turnover of this year was 0.34995704. DLC Asia's asset turnover of last year was 0.51007647.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
DLC Asia has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
DLC Asia (HKSE:08210) has a Piotroski F-Score of 3 as of Aug. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on DLC Asia and its competitors. This is 25% below median its historical median of 4.00. Over the past decade, DLC Asia's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, DLC Asia ranks #617 out of 784 companies in the Capital Markets industry, placing it in the top 78.7%.
Is DLC Asia's Piotroski F-Score too high?
DLC Asia's current Piotroski F-Score of 3 is 25% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Capital Markets industry median Piotroski F-Score is 5.00. DLC Asia's value of 3 is 40% below this industry median. Based on the distribution chart, DLC Asia ranks #617 out of 784 companies in the Capital Markets industry, which is in the bottom quartile relative to peers.
How does DLC Asia's Piotroski F-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, DLC Asia ranks #617 out of 784 companies for Piotroski F-Score. This places DLC Asia in the lower half of its industry. The industry median Piotroski F-Score is 5.00. DLC Asia's value of 3 is 40% below this benchmark. Historically, DLC Asia's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, DLC Asia 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 Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 784 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. DLC Asia's current Piotroski F-Score of 3 is 40% 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 DLC Asia and its competitors. For the Capital Markets 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. DLC Asia's current Piotroski F-Score is 3, which is 25% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DLC Asia stock overvalued right now?
Based on GuruFocus' analysis, DLC Asia (HKSE:08210) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.03, compared to a current price of HK$0.05 — trading 70% above its estimated fair value. The current Piotroski F-Score is 3, which is 25% below median its 10-year median of 4.00 and 40% below the Capital Markets industry median of 5.00. 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 DLC Asia (HKSE:08210), the current Piotroski F-Score is 3 as of Aug. 13, 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.
DLC Asia Ltd is an investment holding company. Along with its holdings, the company is known as the interdealer broker in Hong Kong that provides derivatives brokerage services to Professional Investors by dealing in securities and futures contracts. Its revenues are derived from commission income received from customers for providing brokerage services on derivative contracts by various execution channels including HKEx, SGX, and OTC. Its revenue is earned from the HKEx market.
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