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China Green Agriculture Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

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

China Green Agriculture has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

NYSE:CGA' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 8
Current: 5

1
8

During the past 13 years, the highest Piotroski F-Score of China Green Agriculture was 8. The lowest was 1. And the median was 4.


China Green Agriculture Piotroski F-Score Historical Data

The historical data trend for China Green Agriculture'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.

China Green Agriculture Annual Data
Trend Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 3.00 4.00 2.00 3.00

China Green Agriculture Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 2.00 2.00 3.00 3.00 5.00

Competitive Comparison

For the Agricultural Inputs subindustry, China Green Agriculture'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 Green Agriculture Piotroski F-Score Distribution

For the Agriculture industry and Basic Materials sector, China Green Agriculture's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where China Green Agriculture'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 (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was -40.037 + -14.815 + -33.943 + -15.077 = $-103.9 Mil.
Cash Flow from Operations was -4.584 + -4.347 + -2.295 + 1.515 = $-9.7 Mil.
Revenue was 48.341 + 86.068 + 52.841 + 37.381 = $224.6 Mil.
Gross Profit was 8.424 + 14.447 + 8.393 + 7.253 = $38.5 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(330.09 + 300.573 + 290.33 + 266.729 + 250.913) / 5 = $287.727 Mil.
Total Assets at the begining of this year (Sep20) was $330.1 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $203.1 Mil.
Total Current Liabilities was $78.0 Mil.
Net Income was -27.081 + -50.222 + -52.133 + -30.953 = $-160.4 Mil.

Revenue was 49.565 + 85.827 + 43.215 + 42.141 = $220.7 Mil.
Gross Profit was 8.82 + 12.617 + 7.457 + 7.874 = $36.8 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(463.098 + 445.113 + 395.275 + 342.128 + 330.09) / 5 = $395.1408 Mil.
Total Assets at the begining of last year (Sep19) was $463.1 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Current Assets was $272.3 Mil.
Total Current Liabilities was $84.8 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.

China Green Agriculture's current Net Income (TTM) was -103.9. ==> 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.

China Green Agriculture's current Cash Flow from Operations (TTM) was -9.7. ==> 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 (Sep20)
=-103.872/330.09
=-0.31467782

ROA (Last Year)=Net Income/Total Assets (Sep19)
=-160.389/463.098
=-0.34633922

China Green Agriculture's return on assets of this year was -0.31467782. China Green Agriculture's return on assets of last year was -0.34633922. ==> 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.

China Green Agriculture's current Net Income (TTM) was -103.9. China Green Agriculture's current Cash Flow from Operations (TTM) was -9.7. ==> -9.7 > -103.9 ==> 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: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=0/287.727
=0

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=0/395.1408
=0

China Green Agriculture's gearing of this year was 0. China Green Agriculture's gearing of last year was 0. ==> 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: Sep21)=Total Current Assets/Total Current Liabilities
=203.104/78.023
=2.60312985

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=272.272/84.77
=3.211891

China Green Agriculture's current ratio of this year was 2.60312985. China Green Agriculture's current ratio of last year was 3.211891. ==> 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 Green Agriculture's number of shares in issue this year was 8.488. China Green Agriculture's number of shares in issue last year was 6.35. ==> 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
=38.517/224.631
=0.17146787

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=36.768/220.748
=0.16656097

China Green Agriculture's gross margin of this year was 0.17146787. China Green Agriculture's gross margin of last year was 0.16656097. ==> 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 (Sep20)
=224.631/330.09
=0.68051441

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=220.748/463.098
=0.47667664

China Green Agriculture's asset turnover of this year was 0.68051441. China Green Agriculture's asset turnover of last year was 0.47667664. ==> 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+1+1+0+0+1+1
=5

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

China Green Agriculture has an F-score of 5 indicating the company's financial situation is typical for a stable company.

China Green Agriculture  (NYSE:CGA) 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.


China Green Agriculture Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of China Green Agriculture's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


China Green Agriculture Business Description

China Green Agriculture logo
Industry
Basic Materials » Agriculture NAICS : 325320 SIC : 2879
Traded in Other Exchanges
Address
South Taibai Road, 3rd Floor, Borough A, Block A. No. 181, Shaanxi Province, Xi’an, CHN, 710065
China Green Agriculture Inc is engaged in the business of fertilizer and agricultural products. It involves the research, development, production, distribution, and sale of humic acid-based compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, concentrated water-soluble fertilizers, and mixed organic-inorganic compound fertilizer and the development, production, and distribution of agricultural products, such as top-grade fruits, vegetables, flowers and colored seedlings in China. The company operates in four segments: Fertilizer products (Jinong), Fertilizer products (Gufeng), agricultural products (Yuxing), and Sales VIEs(variable interest entities). All of its operations are conducted in China.
Executives
Shi Yiru director 1217 S CATALINA AVENUE REDONDO BEACH CA 90277
Shen Jianlei director 3RD FLOOR, BOROUGH A, BLOCK A. NO. 181 SOUTH TAIBAI ROAD XI?AN, SHAANXI PROVINCE F4 PRC 710065
Fan Ale director 3RD FLOOR, BOROUGH A, BLOCK A. NO. 181 SOUTH TAIBAI ROAD XI?AN, SHAANXI PROVINCE F4 PRC 710065
Zhang Yizhao director 45 OLD MILLSTONE DRIVE, NIT 6 EAST WINDSOR NJ 08520
Fields Robert B director 215 EAST 68TH STREET NEW YORK NY 10021
Raeburn Barry L director C/O FUSHI INTERNATIONAL INC. 1 SHUANGQIANG ROAD, JINZHOU DALIAN F4 116100
To Yinshing David 10 percent owner 45 OLD MILLSTONE DR, UNIT 6 EAST WINDSOR NJ 08520
Schwartz Sanford other: Former Officer & 10% Owner 5353 MANHATTAN CIRCLE STE 101 BOULDER CO 80303
Friess Michael other: Former Officer & 10% Owner 5353 MANHATTAN CIRCLE STE 101 BOULDER CO 80303
Venette John H director, officer: CFO & Treasurer 5353 MANHATTAN CIRCLE SUITE 101 BOULDER CO 80303
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