Archosaur Games (HKSE:09990) Piotroski F-Score: 2 (As of Aug. 28, 2026) — 60% Below Median

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HKSE:09990 Archosaur Games Inc HKSE:09990
73 GF Score
Price HK$1.90
GF Value HK$2.05
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is Archosaur Games Piotroski F-Score?

Archosaur Games HKSE:09990 -0.52% 73 Piotroski F-Score is 2 as of Aug. 28, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates HKSE:09990 with a GF Score™ of 73/100 and a GF Value™ of HK$2.05 (Fairly Valued). The stock has 4 warning signs investors should review. Among 546 Interactive Media companies, Archosaur Games ranks worse than 93.04% on this metric.

Warning Sign:

Piotroski F-Score of 2 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

Archosaur Games has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

HKSE:09990' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 2

During the past 9 years, the highest Piotroski F-Score of Archosaur Games was 7. The lowest was 2. And the median was 5.

Archosaur Games  (HKSE:09990) 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.


Archosaur Games Piotroski F-Score Related Terms


Archosaur Games Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Archosaur Games'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.

Archosaur Games Piotroski F-Score Chart

Archosaur Games Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 3.00 5.00 6.00 2.00

Archosaur Games Semi-Annual Data
Dec17 Dec18 Jun19 Dec19 Jun20 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 6.00 0.00 2.00 0.00

HKSE:09990 vs NTES, EA, TTWO: Piotroski F-Score Comparison

For the Electronic Gaming & Multimedia subindustry, Archosaur Games'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.


Archosaur Games Piotroski F-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Archosaur Games's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Archosaur Games's Piotroski F-Score falls into.


HKSE:09990
73GF Score
Archosaur Games Inc HKSE:09990
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$-41 Mil.
Cash Flow from Operations was HK$-58 Mil.
Revenue was HK$1,441 Mil.
Gross Profit was HK$1,020 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (2774.196 + 2946.369) / 2 = HK$2860.2825 Mil.
Total Assets at the begining of this year (Dec24) was HK$2,774 Mil.
Long-Term Debt & Capital Lease Obligation was HK$113 Mil.
Total Current Assets was HK$2,237 Mil.
Total Current Liabilities was HK$605 Mil.
Net Income was HK$-307 Mil.

Revenue was HK$1,218 Mil.
Gross Profit was HK$882 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (3000.917 + 2774.196) / 2 = HK$2887.5565 Mil.
Total Assets at the begining of last year (Dec23) was HK$3,001 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0 Mil.
Total Current Assets was HK$1,945 Mil.
Total Current Liabilities was HK$498 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.

Archosaur Games's current Net Income (TTM) was -41. ==> 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.

Archosaur Games's current Cash Flow from Operations (TTM) was -58. ==> 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)
=-40.55/2774.196
=-0.01461685

ROA (Last Year)=Net Income/Total Assets (Dec23)
=-306.685/3000.917
=-0.1021971

Archosaur Games's return on assets of this year was -0.01461685. Archosaur Games's return on assets of last year was -0.1021971. ==> 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.

Archosaur Games's current Net Income (TTM) was -41. Archosaur Games's current Cash Flow from Operations (TTM) was -58. ==> -58 <= -41 ==> CFROA <= ROA ==> Score 0.

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
=113.324/2860.2825
=0.03961986

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/2887.5565
=0

Archosaur Games's gearing of this year was 0.03961986. Archosaur Games's gearing of last year was 0. ==> 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=2236.748/604.677
=3.69907901

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=1945.383/497.917
=3.90704274

Archosaur Games's current ratio of this year was 3.69907901. Archosaur Games's current ratio of last year was 3.90704274. ==> 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.

Archosaur Games's number of shares in issue this year was 785.379. Archosaur Games's number of shares in issue last year was 784.905. ==> 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
=1020.425/1441.018
=0.70812787

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=881.901/1218.298
=0.72387954

Archosaur Games's gross margin of this year was 0.70812787. Archosaur Games's gross margin of last year was 0.72387954. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=1441.018/2774.196
=0.51943626

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1218.298/3000.917
=0.40597524

Archosaur Games's asset turnover of this year was 0.51943626. Archosaur Games's asset turnover of last year was 0.40597524. ==> 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+0+0+0+0+0+1
=2

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

Archosaur Games has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 2 mean?
Archosaur Games (HKSE:09990) has a Piotroski F-Score of 2 as of Aug. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Archosaur Games and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Archosaur Games' Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Archosaur Games ranks #508 out of 546 companies in the Interactive Media industry, placing it in the top 93%.
Is Archosaur Games' Piotroski F-Score too high?
Archosaur Games' current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Interactive Media industry median Piotroski F-Score is 5.00. Archosaur Games' value of 2 is 60% below this industry median. Based on the distribution chart, Archosaur Games ranks #508 out of 546 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Archosaur Games has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Archosaur Games' Piotroski F-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Archosaur Games ranks #508 out of 546 companies for Piotroski F-Score. This places Archosaur Games in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Archosaur Games' value of 2 is 60% below this benchmark. Historically, Archosaur Games' own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Archosaur Games 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 an Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 546 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. Archosaur Games's current Piotroski F-Score of 2 is 60% 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 Archosaur Games and its competitors. For the Interactive Media 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. Archosaur Games's current Piotroski F-Score is 2, which is 60% below 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 Archosaur Games stock overvalued right now?
Based on GuruFocus' analysis, Archosaur Games (HKSE:09990) is currently considered Fairly Valued. The stock's GF Value™ is HK$2.05, compared to a current price of HK$1.90 — trading 7.6% below its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Interactive Media industry median of 5.00. Archosaur Games' overall GF Score™ is 73/100 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 Archosaur Games (HKSE:09990), the current Piotroski F-Score is 2 as of Aug. 28, 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 Archosaur Games (HKSE:09990) Overvalued in 2026?

Based on GuruFocus' analysis, Archosaur Games stock appears to be undervalued. The current stock price of HK$1.90 is trading 7.6% below its estimated GF Value™ of HK$2.05. GuruFocus considers Archosaur Games to be Fairly Valued.

Key valuation signals for HKSE:09990:

  • Piotroski F-Score: 2 (60% below median its 10-year median of 5.00)
  • GF Value™: HK$2.05 vs. price of HK$1.90 (7.6% below fair value)
  • GF Score™: 73/100 with 4 warning signs
  • Industry Position: 60% below the Interactive Media median (#508 of 546)

No single metric tells the full story. See the HKSE:09990 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Archosaur Games Business Description

Address No.11 HePingLi East Street, 4th Floor, No. 8 Hangxing Science Park, Dongcheng District, Beijing, CHN, 100013
Archosaur Games Inc is an investment holding company. The Group is principally engaged in the development and operating of mobile games in the PRC and other countries and regions. The Group operates in the mobile game industry, focusing on developing high-quality mobile MMORPGs, female-oriented games, strategy card games, idle RPGs, SLGs and other genres, including Life Makeover (Simulation), Under the Firmament (SLG), Dragon Raja (MMORPG), World of Kings (MMORPG), The Castle in the Sky (MMORPG) and Naval Creed (Others). The Group generates maximum revenue from the Chinese mainland.
73GF Score

Get the complete analysis for HKSE:09990

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

HK$1.90
Price
HK$2.05
GF Value