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KGBLY (Kingboard Laminates Holdings) Piotroski F-Score : 4 (As of Mar. 03, 2025)


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What is Kingboard Laminates Holdings 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

Kingboard Laminates Holdings 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 Kingboard Laminates Holdings's Piotroski F-Score or its related term are showing as below:

KGBLY' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Kingboard Laminates Holdings was 8. The lowest was 4. And the median was 6.


Kingboard Laminates Holdings Piotroski F-Score Historical Data

The historical data trend for Kingboard Laminates 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.

* Premium members only.

Kingboard Laminates Holdings Piotroski F-Score Chart

Kingboard Laminates Holdings 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 6.00 6.00 6.00 5.00 4.00

Kingboard Laminates Holdings Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 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 - 5.00 - 4.00 -

Competitive Comparison of Kingboard Laminates Holdings's Piotroski F-Score

For the Electronic Components subindustry, Kingboard Laminates 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.


Kingboard Laminates Holdings's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Kingboard Laminates Holdings's Piotroski F-Score distribution charts can be found below:

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


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 $116 Mil.
Cash Flow from Operations was $105 Mil.
Revenue was $2,145 Mil.
Gross Profit was $343 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (3121.203 + 3017.092) / 2 = $3069.1475 Mil.
Total Assets at the begining of this year (Dec22) was $3,121 Mil.
Long-Term Debt & Capital Lease Obligation was $345 Mil.
Total Current Assets was $1,769 Mil.
Total Current Liabilities was $716 Mil.
Net Income was $245 Mil.

Revenue was $2,873 Mil.
Gross Profit was $654 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (3823.796 + 3121.203) / 2 = $3472.4995 Mil.
Total Assets at the begining of last year (Dec21) was $3,824 Mil.
Long-Term Debt & Capital Lease Obligation was $540 Mil.
Total Current Assets was $1,762 Mil.
Total Current Liabilities was $605 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.

Kingboard Laminates Holdings's current Net Income (TTM) was 116. ==> 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.

Kingboard Laminates Holdings's current Cash Flow from Operations (TTM) was 105. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=116.188/3121.203
=0.03722539

ROA (Last Year)=Net Income/Total Assets (Dec21)
=245.224/3823.796
=0.06413104

Kingboard Laminates Holdings's return on assets of this year was 0.03722539. Kingboard Laminates Holdings's return on assets of last year was 0.06413104. ==> 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.

Kingboard Laminates Holdings's current Net Income (TTM) was 116. Kingboard Laminates Holdings's current Cash Flow from Operations (TTM) was 105. ==> 105 <= 116 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=344.872/3069.1475
=0.11236736

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=539.637/3472.4995
=0.15540305

Kingboard Laminates Holdings's gearing of this year was 0.11236736. Kingboard Laminates Holdings's gearing of last year was 0.15540305. ==> 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
=1769.179/716.447
=2.46937875

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1762.439/604.666
=2.91473144

Kingboard Laminates Holdings's current ratio of this year was 2.46937875. Kingboard Laminates Holdings's current ratio of last year was 2.91473144. ==> 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.

Kingboard Laminates Holdings's number of shares in issue this year was 124.8. Kingboard Laminates Holdings's number of shares in issue last year was 124.8. ==> 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
=342.79/2144.773
=0.15982577

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=653.716/2872.515
=0.22757618

Kingboard Laminates Holdings's gross margin of this year was 0.15982577. Kingboard Laminates Holdings's gross margin of last year was 0.22757618. ==> 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 (Dec22)
=2144.773/3121.203
=0.68716229

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=2872.515/3823.796
=0.75122078

Kingboard Laminates Holdings's asset turnover of this year was 0.68716229. Kingboard Laminates Holdings's asset turnover of last year was 0.75122078. ==> 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
=1+1+0+0+1+0+1+0+0
=4

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

Kingboard Laminates Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Kingboard Laminates Holdings  (OTCPK:KGBLY) 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.


Kingboard Laminates Holdings Piotroski F-Score Related Terms

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Kingboard Laminates Holdings Business Description

Traded in Other Exchanges
Address
3 On Yiu Street, 23rd Floor, Delta House, Shek Mun, Shatin, N.T., Hong Kong, HKG
Kingboard Laminates Holdings Ltd is an electronic materials manufacturer engaged in the production of laminates. The group is organized into three reportable segments that are the manufacturing and sale of laminates, properties, and investments. The laminate segment contributes to the majority of the revenue. The company's products include Glass Epoxy Laminates, Paper Laminates, Upstream Materials, and others. The company operates in China, Asian countries, Europe, and America, out of which China accounts for the majority of the revenue.

Kingboard Laminates Holdings Headlines