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BRQSF (Borqs Technologies) Piotroski F-Score : 6 (As of Jul. 16, 2025)


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What is Borqs Technologies 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

Borqs Technologies has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

BRQSF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 6
Current: 6

During the past 9 years, the highest Piotroski F-Score of Borqs Technologies was 6. The lowest was 2. And the median was 5.


Borqs Technologies Piotroski F-Score Historical Data

The historical data trend for Borqs Technologies'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.

Borqs Technologies Piotroski F-Score Chart

Borqs Technologies Annual Data
Trend Jun16 Jun17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 2.00 5.00 5.00 2.00 6.00

Borqs Technologies Semi-Annual Data
Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24
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 5.00 - 2.00 - 6.00

Competitive Comparison of Borqs Technologies's Piotroski F-Score

For the Software - Infrastructure subindustry, Borqs Technologies'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.


Borqs Technologies's Piotroski F-Score Distribution in the Software Industry

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

* The bar in red indicates where Borqs Technologies'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 $16.70 Mil.
Cash Flow from Operations was $-2.77 Mil.
Revenue was $27.71 Mil.
Gross Profit was $5.79 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was (21.432 + 25.409) / 2 = $23.4205 Mil.
Total Assets at the begining of this year (Dec23) was $21.43 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $23.36 Mil.
Total Current Liabilities was $26.92 Mil.
Net Income was $-26.47 Mil.

Revenue was $20.57 Mil.
Gross Profit was $3.87 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was (30.143 + 21.432) / 2 = $25.7875 Mil.
Total Assets at the begining of last year (Dec22) was $30.14 Mil.
Long-Term Debt & Capital Lease Obligation was $0.18 Mil.
Total Current Assets was $18.14 Mil.
Total Current Liabilities was $33.02 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.

Borqs Technologies's current Net Income (TTM) was 16.70. ==> 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.

Borqs Technologies's current Cash Flow from Operations (TTM) was -2.77. ==> 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)
=16.697/21.432
=0.77906868

ROA (Last Year)=Net Income/Total Assets (Dec22)
=-26.467/30.143
=-0.87804797

Borqs Technologies's return on assets of this year was 0.77906868. Borqs Technologies's return on assets of last year was -0.87804797. ==> 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.

Borqs Technologies's current Net Income (TTM) was 16.70. Borqs Technologies's current Cash Flow from Operations (TTM) was -2.77. ==> -2.77 <= 16.70 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/23.4205
=0

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=0.182/25.7875
=0.00705768

Borqs Technologies's gearing of this year was 0. Borqs Technologies's gearing of last year was 0.00705768. ==> 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
=23.355/26.916
=0.86769951

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=18.14/33.019
=0.54938066

Borqs Technologies's current ratio of this year was 0.86769951. Borqs Technologies's current ratio of last year was 0.54938066. ==> 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.

Borqs Technologies's number of shares in issue this year was 30.462. Borqs Technologies's number of shares in issue last year was 13.059. ==> 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
=5.786/27.713
=0.20878288

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3.87/20.567
=0.18816551

Borqs Technologies's gross margin of this year was 0.20878288. Borqs Technologies's gross margin of last year was 0.18816551. ==> 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)
=27.713/21.432
=1.29306644

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=20.567/30.143
=0.6823143

Borqs Technologies's asset turnover of this year was 1.29306644. Borqs Technologies's asset turnover of last year was 0.6823143. ==> 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
=1+0+1+0+1+1+0+1+1
=6

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

Borqs Technologies has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Borqs Technologies  (OTCPK:BRQSF) 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.


Borqs Technologies Piotroski F-Score Related Terms

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Borqs Technologies Business Description

Traded in Other Exchanges
N/A
Address
7 Shing Yip Street, Office B, 21st Floor, Legend Tower, Kwun Tong, Kowloon, Hong Kong, HKG
Borqs Technologies Inc is a provider of software development services and products, providing customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. The company generates revenue in the form of software, and hardware revenue. A substantial portion of its revenue is generated in the form of hardware revenue which it earns for manufacturing customized products like trackers and smart watches, ruggedized handsets, tablets and smart phones, and mobile connectivity modules for its customers. Its geographical segments include the United States, China which is its key revenue-generating market, and the rest of the world.
Executives
Bill Huang director 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Asset Horizon International Ltd 10 percent owner FLAT C, 8/F., JONSIM PLACE, 228 QUEEN'S ROAD EAST, HONG KONG K3 000 000
Zhengqi International Holding Ltd 10 percent owner 40 WALL STREET, 28TH FL, NEW YORK NY 10005
George Thangadurai officer: EVP and President of Int Bus 6190 CORNERSTONE COURT, SAN DIEGO CA 92121
Simon Sun officer: EVP & Co-GM of Prod. Bus. Unit 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Wong Joseph Wai Leung director 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Gene Wuu officer: EVP & GM of Cloud Bus Unit 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Hareesh Ramanna officer: EVP and GM of Cloud Bus Unit 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Ye Eric Tao director 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Pat Chan director, officer: Chair. of the Board, CEO & Pre UTSTARCOM, INC., 1275 HARBOR BAY PARKWAY, ALAMEDA CA 94502
Anthony K Chan officer: CFO, EVP Corp. Finance 32108 ALVARADO BLVD., UNIT 138, UNION CITY CA 94587
Intel Corp 10 percent owner 2200 MISSION COLLEGE BLVD, RNB-4-151, SANTA CLARA CA 95054
Bob Li officer: EVP Corp Affairs & China Sale 6190 CORNERSTONE COURT, SUITE 202, SAN DIEGO CA 92121
Norwest Venture Partners X L P 10 percent owner 525 UNIVERSITY AVE SUITE 800, PALO ALTO CA 94301
Jian Tu director, officer: President & Chairman 40 WALL STREET, 28TH FL, NEW YORK NY 10005