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Future Data Group (HKSE:08229) Piotroski F-Score : 4 (As of Mar. 31, 2025)


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What is Future Data Group Piotroski F-Score?

The zones of discrimination were as such:

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

Future Data Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

HKSE:08229' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 6
Current: 4

During the past 10 years, the highest Piotroski F-Score of Future Data Group was 6. The lowest was 2. And the median was 4.


Future Data Group Piotroski F-Score Historical Data

The historical data trend for Future Data 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.

* Premium members only.

Future Data Group Piotroski F-Score Chart

Future Data Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 5.00 3.00 4.00 4.00

Future Data Group Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Jun24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - 4.00 -

Competitive Comparison of Future Data Group's Piotroski F-Score

For the Information Technology Services subindustry, Future Data 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.


Future Data Group's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, Future Data Group's Piotroski F-Score distribution charts can be found below:

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


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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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was HK$-16.4 Mil.
Cash Flow from Operations was HK$-5.2 Mil.
Revenue was HK$482.0 Mil.
Gross Profit was HK$60.3 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (340.234 + 275.919) / 2 = HK$308.0765 Mil.
Total Assets at the begining of this year (Dec22) was HK$340.2 Mil.
Long-Term Debt & Capital Lease Obligation was HK$8.2 Mil.
Total Current Assets was HK$203.8 Mil.
Total Current Liabilities was HK$84.8 Mil.
Net Income was HK$-3.3 Mil.

Revenue was HK$617.6 Mil.
Gross Profit was HK$58.3 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (354.078 + 340.234) / 2 = HK$347.156 Mil.
Total Assets at the begining of last year (Dec21) was HK$354.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$17.6 Mil.
Total Current Assets was HK$259.7 Mil.
Total Current Liabilities was HK$189.3 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.

Future Data Group's current Net Income (TTM) was -16.4. ==> 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.

Future Data Group's current Cash Flow from Operations (TTM) was -5.2. ==> 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 (Dec22)
=-16.367/340.234
=-0.04810513

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-3.346/354.078
=-0.0094499

Future Data Group's return on assets of this year was -0.04810513. Future Data Group's return on assets of last year was -0.0094499. ==> 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.

Future Data Group's current Net Income (TTM) was -16.4. Future Data Group's current Cash Flow from Operations (TTM) was -5.2. ==> -5.2 > -16.4 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=8.156/308.0765
=0.02647394

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=17.563/347.156
=0.05059109

Future Data Group's gearing of this year was 0.02647394. Future Data Group's gearing of last year was 0.05059109. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=203.757/84.764
=2.4038153

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=259.69/189.336
=1.37158279

Future Data Group's current ratio of this year was 2.4038153. Future Data Group's current ratio of last year was 1.37158279. ==> 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.

Future Data Group's number of shares in issue this year was 492.931. Future Data Group's number of shares in issue last year was 431.891. ==> 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
=60.326/482.008
=0.1251556

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=58.321/617.641
=0.0944254

Future Data Group's gross margin of this year was 0.1251556. Future Data Group's gross margin of last year was 0.0944254. ==> 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 (Dec22)
=482.008/340.234
=1.41669557

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=617.641/354.078
=1.74436424

Future Data Group's asset turnover of this year was 1.41669557. Future Data Group's asset turnover of last year was 1.74436424. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+1+1+0+1+0
=4

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

Future Data Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Future Data Group  (HKSE:08229) 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.


Future Data Group Piotroski F-Score Related Terms

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Future Data Group Business Description

Traded in Other Exchanges
N/A
Address
No. 1 Harbour Road, Room 1703, 17th floor Office Tower, Wan Chai, Hong Kong, HKG
Future Data Group Ltd is engaged in the provision of integration of systems with network connectivity, cloud computing and security elements, maintenance services, and cyber security services in Korea and Hong Kong. It operates in three segments System integration, Maintenance services, and Cyber security services with the majority of revenue being derived from the System integration segment. It operates in Hong Kong and Korea with the majority of its revenue coming from Korea.
Executives
Tao Guolin 2101 Beneficial owner
Tao Hongxia 2201 Interest of corporation controlled by you
Variant Wealth Investment Development Limited 2101 Beneficial owner
Gorgeous Real Investment Holding Limited 2101 Beneficial owner
Han Lerong 2202 Interest of your spouse
Tao Hongxia 2201 Interest of corporation controlled by you
Han Lerong 2202 Interest of your spouse
Tang Marilyn 2202 Interest of your spouse
Tao Jian 2101 Beneficial owner
Asia Media Systems Pte. Ltd. 2201 Interest of corporation controlled by you
Suh Seung Hyun 2201 Interest of corporation controlled by you
Suh Kim Seong Ock 2202 Interest of your spouse
Shin Hee Kum 2202 Interest of your spouse
Phung Nhuong Giang 2201 Interest of corporation controlled by you
Park Hyeoung Jin 2201 Interest of corporation controlled by you

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