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Country Garden Holdings Co (Country Garden Holdings Co) Piotroski F-Score : 4 (As of May. 04, 2024)


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What is Country Garden Holdings Co 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

Country Garden Holdings Co 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 Country Garden Holdings Co's Piotroski F-Score or its related term are showing as below:

CTRYF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Country Garden Holdings Co was 7. The lowest was 2. And the median was 4.


Country Garden Holdings Co Piotroski F-Score Historical Data

The historical data trend for Country Garden Holdings Co'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.

Country Garden Holdings Co Piotroski F-Score Chart

Country Garden Holdings Co Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 3.00 4.00 4.00

Country Garden Holdings Co Semi-Annual Data
Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23
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 - 4.00 - 4.00 -

Competitive Comparison of Country Garden Holdings Co's Piotroski F-Score

For the Real Estate - Development subindustry, Country Garden Holdings Co'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.


Country Garden Holdings Co's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Country Garden Holdings Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Country Garden Holdings Co'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 (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was $-868 Mil.
Cash Flow from Operations was $5,109 Mil.
Revenue was $61,731 Mil.
Gross Profit was $4,717 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was (305899.392 + 250221.18) / 2 = $278060.286 Mil.
Total Assets at the begining of this year (Dec21) was $305,899 Mil.
Long-Term Debt & Capital Lease Obligation was $25,520 Mil.
Total Current Assets was $220,474 Mil.
Total Current Liabilities was $176,601 Mil.
Net Income was $4,207 Mil.

Revenue was $82,123 Mil.
Gross Profit was $14,567 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was (308260.67 + 305899.392) / 2 = $307080.031 Mil.
Total Assets at the begining of last year (Dec20) was $308,261 Mil.
Long-Term Debt & Capital Lease Obligation was $37,588 Mil.
Total Current Assets was $269,093 Mil.
Total Current Liabilities was $216,492 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.

Country Garden Holdings Co's current Net Income (TTM) was -868. ==> 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.

Country Garden Holdings Co's current Cash Flow from Operations (TTM) was 5,109. ==> 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 (Dec21)
=-868.081/305899.392
=-0.0028378

ROA (Last Year)=Net Income/Total Assets (Dec20)
=4207.213/308260.67
=0.01364823

Country Garden Holdings Co's return on assets of this year was -0.0028378. Country Garden Holdings Co's return on assets of last year was 0.01364823. ==> 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.

Country Garden Holdings Co's current Net Income (TTM) was -868. Country Garden Holdings Co's current Cash Flow from Operations (TTM) was 5,109. ==> 5,109 > -868 ==> 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: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=25520.318/278060.286
=0.0917798

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=37588.118/307080.031
=0.12240496

Country Garden Holdings Co's gearing of this year was 0.0917798. Country Garden Holdings Co's gearing of last year was 0.12240496. ==> 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: Dec22)=Total Current Assets/Total Current Liabilities
=220474.49/176600.973
=1.24843304

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=269093.464/216492.393
=1.2429696

Country Garden Holdings Co's current ratio of this year was 1.24843304. Country Garden Holdings Co's current ratio of last year was 1.2429696. ==> 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.

Country Garden Holdings Co's number of shares in issue this year was 23606. Country Garden Holdings Co's number of shares in issue last year was 22702. ==> 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
=4716.64/61731.142
=0.07640617

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=14567.064/82122.682
=0.17738174

Country Garden Holdings Co's gross margin of this year was 0.07640617. Country Garden Holdings Co's gross margin of last year was 0.17738174. ==> 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 (Dec21)
=61731.142/305899.392
=0.20180211

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=82122.682/308260.67
=0.26640662

Country Garden Holdings Co's asset turnover of this year was 0.20180211. Country Garden Holdings Co's asset turnover of last year was 0.26640662. ==> 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+1+0+1+1+1+0+0+0
=4

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

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

Country Garden Holdings Co  (OTCPK:CTRYF) 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.


Country Garden Holdings Co Piotroski F-Score Related Terms

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Country Garden Holdings Co (Country Garden Holdings Co) Business Description

Traded in Other Exchanges
Address
No. 1 Country Garden Road, Country Garden Centre, Beijiao Town, Shunde District, Guangdong Province, Foshan, CHN, 528312
Listed in 2007, Country Garden Holdings has been one of the largest China real estate developers in contracted sales with a focus on Tier 3 and lower-tier cities. Property development has represented most of CGH's revenue and earnings, and the firm has tapped into new businesses such as robotics construction and venture capital investment. Following the retirement of founder Yang Guoqiang, Yang Huiyan (daughter of Yang Guoqiang) holds an over 50% stake of the company, while Ping An Life Insurance retains 7.7% equity ownership after the private placement in 2015.