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Kiwa Bio-Tech Products Group Piotroski F-Score

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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

Kiwa Bio-Tech Products Group 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 Kiwa Bio-Tech Products Group's Piotroski F-Score or its related term are showing as below:


Kiwa Bio-Tech Products Group Piotroski F-Score Historical Data

The historical data trend for Kiwa Bio-Tech Products Group'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.

Kiwa Bio-Tech Products Group Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 3.00 2.00 3.00

Kiwa Bio-Tech Products Group Quarterly Data
Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19
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 1.00 4.00 3.00

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 (Dec19) TTM:Last Year (Dec18) TTM:
Net Income was 0.391 + -2.246 + 0.311 + -5.091 = $-6.64 Mil.
Cash Flow from Operations was -0.54 + -0.991 + 1.836 + -0.122 = $0.18 Mil.
Revenue was 9.543 + 10.925 + 10.986 + 8.635 = $40.09 Mil.
Gross Profit was 2.176 + 3.172 + 2.577 + 1.406 = $9.33 Mil.
Average Total Assets from the begining of this year (Dec18)
to the end of this year (Dec19) was
(32.511 + 35.869 + 32.244 + 33.145 + 24.069) / 5 = $31.5676 Mil.
Total Assets at the begining of this year (Dec18) was $32.51 Mil.
Long-Term Debt & Capital Lease Obligation was $0.13 Mil.
Total Current Assets was $22.84 Mil.
Total Current Liabilities was $14.25 Mil.
Net Income was 0.054 + -0.635 + 0.623 + 0.303 = $0.35 Mil.

Revenue was 8.755 + 5.335 + 7.726 + 8.839 = $30.66 Mil.
Gross Profit was 2.446 + 1.461 + 2.273 + 2.079 = $8.26 Mil.
Average Total Assets from the begining of last year (Dec17)
to the end of last year (Dec18) was
(20.005 + 25.204 + 29.478 + 30.693 + 32.511) / 5 = $27.5782 Mil.
Total Assets at the begining of last year (Dec17) was $20.01 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $31.69 Mil.
Total Current Liabilities was $19.79 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.

Kiwa Bio-Tech Products Group's current Net Income (TTM) was -6.64. ==> 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.

Kiwa Bio-Tech Products Group's current Cash Flow from Operations (TTM) was 0.18. ==> 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 (Dec18)
=-6.635/32.511
=-0.20408477

ROA (Last Year)=Net Income/Total Assets (Dec17)
=0.345/20.005
=0.01724569

Kiwa Bio-Tech Products Group's return on assets of this year was -0.20408477. Kiwa Bio-Tech Products Group's return on assets of last year was 0.01724569. ==> 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.

Kiwa Bio-Tech Products Group's current Net Income (TTM) was -6.64. Kiwa Bio-Tech Products Group's current Cash Flow from Operations (TTM) was 0.18. ==> 0.18 > -6.64 ==> 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: Dec19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec18 to Dec19
=0.13/31.5676
=0.00411815

Gearing (Last Year: Dec18)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec17 to Dec18
=0/27.5782
=0

Kiwa Bio-Tech Products Group's gearing of this year was 0.00411815. Kiwa Bio-Tech Products Group's gearing of last year was 0. ==> Last year is lower than this year ==> Score 0.

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: Dec19)=Total Current Assets/Total Current Liabilities
=22.835/14.254
=1.60200645

Current Ratio (Last Year: Dec18)=Total Current Assets/Total Current Liabilities
=31.69/19.785
=1.60171847

Kiwa Bio-Tech Products Group's current ratio of this year was 1.60200645. Kiwa Bio-Tech Products Group's current ratio of last year was 1.60171847. ==> 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.

Kiwa Bio-Tech Products Group's number of shares in issue this year was 82.532. Kiwa Bio-Tech Products Group's number of shares in issue last year was 16.923. ==> 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
=9.331/40.089
=0.23275712

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=8.259/30.655
=0.26941771

Kiwa Bio-Tech Products Group's gross margin of this year was 0.23275712. Kiwa Bio-Tech Products Group's gross margin of last year was 0.26941771. ==> 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 (Dec18)
=40.089/32.511
=1.23309034

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec17)
=30.655/20.005
=1.53236691

Kiwa Bio-Tech Products Group's asset turnover of this year was 1.23309034. Kiwa Bio-Tech Products Group's asset turnover of last year was 1.53236691. ==> 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+0+1+0+0+0
=3

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

Kiwa Bio-Tech Products Group has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Kiwa Bio-Tech Products Group  (OTCPK:KWBT) 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.


Kiwa Bio-Tech Products Group Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Kiwa Bio-Tech Products Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Kiwa Bio-Tech Products Group Business Description

Kiwa Bio-Tech Products Group logo
Industry
Basic Materials » Agriculture NAICS : 325314 SIC : 2875
Traded in Other Exchanges
N/A
Address
3200 Guasti Road, Suite 100, Ontario, CA, USA, 91761
Kiwa Bio-Tech Products Group Corp develops, manufactures, distributes and markets, cost-effective, and environmentally safe bio-technological products for agriculture. Its products are designed to enhance the quality of human life by increasing the value, quality, and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. Its products include Biological Organic Fertilizer, Compound Microbial Fertilizer, Bio-Water Soluble Fertilizer, Microbial Inoculum Fertilizer, and others. Some of the company's products contain ingredients of both photosynthesis and bacillus bacteria.
Executives
Li Wei 10 percent owner C/O 177000 CASTLETON SE STE 589 INDUSTRY CA 91748
Wang Yvonne officer: Chief Executive Officer 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Ma Steven Ning officer: Chief Financial Officer / COO ROOM 402, 36 LANE 380 TIANYAOGIAO ROAD SHANGHAI F4 00000
Ma Xin officer: Vice President 3-1-5 ZHEN WU MIAO YI LI XICHENG DISTRICT BEIJING F4 00000
Wen Bin Li officer: Vice President of Marketing 415 W FOOTHILL BOULEVARD #206 CLAREMONT CA 91711
Wu Xiao Nan officer: Vice President 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Wang Qi officer: Vice President- Technical 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Wang Juhua officer: Chief Operation Officer 415 W FOOTHILL BOULEVARD 206 CLAREMONT CA 91711
Zhang Yun Long director C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Luo Lian Jun director, officer: Cheif Financial Officer C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Lau Johnson Shun Pong officer: Chief Operating Officer NO. 1 YANTAI THIRD ROAD, CENTRALISM AREA HAPING RD. HARBIN ECONOMIC TECH. DEV. HARBIN, HEILONGJIANG PROVINCE F4 150060
Ju Da Chang director, 10 percent owner 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Investlink China Ltd 10 percent owner C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Coltharp Hugh N other: Former Sec/Trea. and Director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: COLTHARP HUGH N a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Coombs Jack R other: Former Vice Pres and Director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: COOMBS JACK R a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
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