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Zepp Health (MEX:ZEPP N) Piotroski F-Score : 3 (As of Jul. 06, 2025)


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What is Zepp Health Piotroski F-Score?

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

Zepp Health 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 Zepp Health's Piotroski F-Score or its related term are showing as below:

MEX:ZEPP N' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 2   Max: 9
Current: 3

During the past 10 years, the highest Piotroski F-Score of Zepp Health was 9. The lowest was 1. And the median was 2.


Zepp Health Piotroski F-Score Historical Data

The historical data trend for Zepp Health'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.

Zepp Health Piotroski F-Score Chart

Zepp Health Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.00 3.00 2.00 6.00 3.00

Zepp Health Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 - - - 3.00 -

Competitive Comparison of Zepp Health's Piotroski F-Score

For the Consumer Electronics subindustry, Zepp Health'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.


Zepp Health's Piotroski F-Score Distribution in the Hardware Industry

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

* The bar in red indicates where Zepp Health'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was MXN-1,579 Mil.
Cash Flow from Operations was MXN-509 Mil.
Revenue was MXN3,808 Mil.
Gross Profit was MXN1,465 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was (10787.457 + 11024.177) / 2 = MXN10905.817 Mil.
Total Assets at the begining of this year (Dec23) was MXN10,787 Mil.
Long-Term Debt & Capital Lease Obligation was MXN1,611 Mil.
Total Current Assets was MXN5,247 Mil.
Total Current Liabilities was MXN4,075 Mil.
Net Income was MXN-527 Mil.

Revenue was MXN5,990 Mil.
Gross Profit was MXN1,568 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was (14885.274 + 10787.457) / 2 = MXN12836.3655 Mil.
Total Assets at the begining of last year (Dec22) was MXN14,885 Mil.
Long-Term Debt & Capital Lease Obligation was MXN2,092 Mil.
Total Current Assets was MXN5,376 Mil.
Total Current Liabilities was MXN2,633 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.

Zepp Health's current Net Income (TTM) was -1,579. ==> 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.

Zepp Health's current Cash Flow from Operations (TTM) was -509. ==> 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 (Dec23)
=-1579.465/10787.457
=-0.14641681

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-526.541/14885.274
=-0.03537328

Zepp Health's return on assets of this year was -0.14641681. Zepp Health's return on assets of last year was -0.03537328. ==> 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.

Zepp Health's current Net Income (TTM) was -1,579. Zepp Health's current Cash Flow from Operations (TTM) was -509. ==> -509 > -1,579 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1611.061/10905.817
=0.14772493

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=2091.516/12836.3655
=0.16293678

Zepp Health's gearing of this year was 0.14772493. Zepp Health's gearing of last year was 0.16293678. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=5246.543/4074.516
=1.28764815

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=5376.288/2632.893
=2.0419698

Zepp Health's current ratio of this year was 1.28764815. Zepp Health's current ratio of last year was 2.0419698. ==> 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.

Zepp Health's number of shares in issue this year was 16.18. Zepp Health's number of shares in issue last year was 15.196. ==> 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
=1464.779/3808.313
=0.38462674

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1567.708/5989.533
=0.26174127

Zepp Health's gross margin of this year was 0.38462674. Zepp Health's gross margin of last year was 0.26174127. ==> 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 (Dec23)
=3808.313/10787.457
=0.35303158

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=5989.533/14885.274
=0.40237976

Zepp Health's asset turnover of this year was 0.35303158. Zepp Health's asset turnover of last year was 0.40237976. ==> 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+0+0+1+0
=3

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

Zepp Health has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Zepp Health  (MEX:ZEPP N) 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.


Zepp Health Piotroski F-Score Related Terms

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Zepp Health Business Description

Traded in Other Exchanges
Address
Edisonweg 44 - B08, Gorinchem, ZH, NLD, 4207 HG
Zepp Health Corp is engaged in the business of manufacturing smart health wearable products. The company operates in one segment which is Amazfit-branded products. The product portfolio includes smartwatches and fitness bands.

Zepp Health Headlines

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