China High Precision Automation Group (OTCPK:HPAGF) 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 High Precision Automation Group Piotroski F-Score Related Terms
China High Precision Automation Group 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 High Precision Automation Group Piotroski F-Score Chart
HPAGF vs COHR, KEYS, GRMN: Piotroski F-Score Comparison
For the Scientific & Technical Instruments subindustry, China High Precision Automation 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.
China High Precision Automation Group Piotroski F-Score vs Hardware Industry
* 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 High Precision Automation Group's current Net Income (TTM) was 2.43.
==> 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 High Precision Automation Group's current Cash Flow from Operations (TTM) was 4.84.
==> 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 High Precision Automation Group's return on assets of this year was 0.00990099. China High Precision Automation Group's return on assets of last year was -0.0178121.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China High Precision Automation Group's gearing of this year was 0. China High Precision Automation Group's gearing of last year was 8.421E-5.
==> 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
China High Precision Automation Group's current ratio of this year was 19.98688343. China High Precision Automation Group's current ratio of last year was 21.06563197.
==> 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.
China High Precision Automation Group's number of shares in issue this year was 1037.5. China High Precision Automation Group's number of shares in issue last year was 1037.5.
==> 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 High Precision Automation Group's gross margin of this year was 0.33826748. China High Precision Automation Group's gross margin of last year was 0.25161559.
==> 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
China High Precision Automation Group's asset turnover of this year was 0.10982765. China High Precision Automation Group's asset turnover of last year was 0.07574878.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China High Precision Automation Group has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
China High Precision Automation Group (HPAGF) has a Piotroski F-Score of 8 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China High Precision Automation Group and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, China High Precision Automation Group's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, China High Precision Automation Group ranks #33 out of 2429 companies in the Hardware industry, placing it in the top 1.4%.
Is China High Precision Automation Group's Piotroski F-Score too high?
China High Precision Automation Group's current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Hardware industry median Piotroski F-Score is 5.00. China High Precision Automation Group's value of 8 is 60% above this industry median. Based on the distribution chart, China High Precision Automation Group ranks #33 out of 2429 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, China High Precision Automation Group has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China High Precision Automation Group's Piotroski F-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, China High Precision Automation Group ranks #33 out of 2429 companies for Piotroski F-Score. This places China High Precision Automation Group in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. China High Precision Automation Group's value of 8 is 60% above this benchmark. Historically, China High Precision Automation Group's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, China High Precision Automation Group 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,429 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 High Precision Automation Group's current Piotroski F-Score of 8 is 60% 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 China High Precision Automation Group and its competitors. For the Hardware 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 High Precision Automation Group's current Piotroski F-Score is 8, which is 33% above 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 High Precision Automation Group stock overvalued right now?
Based on GuruFocus' analysis, China High Precision Automation Group (HPAGF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.01, compared to a current price of $0.03 — trading 189.9% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Hardware industry median of 5.00. China High Precision Automation Group's overall GF Score™ is 45/100 with 3 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 High Precision Automation Group (HPAGF), the current Piotroski F-Score is 8 as of Jul. 01, 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 High Precision Automation Group (HPAGF) Overvalued in 2026?
Based on GuruFocus' analysis, China High Precision Automation Group stock appears to be overvalued.
The current stock price of $0.03 is trading 189.9% above its estimated GF Value™ of $0.01.
GuruFocus considers China High Precision Automation Group to be Significantly Overvalued.
Key valuation signals for HPAGF:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: $0.01 vs. price of $0.03 (189.9% above fair value)
Industry Position: 60% above the Hardware median (#33 of 2429)
No single metric tells the full story. See the HPAGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China High Precision Automation Group Business Description
China High Precision Automation Group Ltd is an investment holding company. Through its subsidiaries engaged in the manufacturing and selling of and provision of consigned processing services on high precision industrial automation instrument and technology products, and the manufacturing and selling of multi-functional all plastic quartz watch movements. The company has the following two business segments: Automation instrument and technology products and Horological instruments. It generates the majority of its reveue from the sales of automation instrument and technology products.
45GF Score
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