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Pingtan Marine Enterprise (Pingtan Marine Enterprise) Piotroski F-Score : 0 (As of Apr. 28, 2024)


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What is Pingtan Marine Enterprise 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

Pingtan Marine Enterprise has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

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


Pingtan Marine Enterprise Piotroski F-Score Historical Data

The historical data trend for Pingtan Marine Enterprise'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.

Pingtan Marine Enterprise Piotroski F-Score Chart

Pingtan Marine Enterprise Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 4.00 2.00 6.00

Pingtan Marine Enterprise Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Jun22
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 1.00 1.00 4.00 6.00 7.00

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 (Jun22) TTM:Last Year (Mar21) TTM:
Net Income was -0.094 + 2.585 + 6.675 + 0 = $9.2 Mil.
Cash Flow from Operations was 20.763 + 53.018 + -42.049 + 0 = $31.7 Mil.
Revenue was 36.865 + 36.104 + 62.807 + 0 = $135.8 Mil.
Gross Profit was 5.053 + -4.062 + -7.387 + 0 = $-6.4 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Jun22) was
(493.312 + 536.309 + 563.044 + 576.235 + 556.03) / 5 = $544.986 Mil.
Total Assets at the begining of this year (Mar21) was $493.3 Mil.
Long-Term Debt & Capital Lease Obligation was $185.6 Mil.
Total Current Assets was $215.6 Mil.
Total Current Liabilities was $288.6 Mil.
Net Income was -1.576 + 0.689 + -79.656 + -11.646 = $-92.2 Mil.

Revenue was 23.463 + 15.448 + 31.022 + 28.307 = $98.2 Mil.
Gross Profit was 2.163 + 1.661 + -11.998 + -6.246 = $-14.4 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was
(478.553 + 557.446 + 517.736 + 463.46 + 493.312) / 5 = $502.1014 Mil.
Total Assets at the begining of last year (Mar20) was $478.6 Mil.
Long-Term Debt & Capital Lease Obligation was $276.8 Mil.
Total Current Assets was $114.4 Mil.
Total Current Liabilities was $137.6 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.

Pingtan Marine Enterprise's current Net Income (TTM) was 9.2. ==> 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.

Pingtan Marine Enterprise's current Cash Flow from Operations (TTM) was 31.7. ==> 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 (Mar21)
=9.166/493.312
=0.01858053

ROA (Last Year)=Net Income/Total Assets (Mar20)
=-92.189/478.553
=-0.19264115

Pingtan Marine Enterprise's return on assets of this year was 0.01858053. Pingtan Marine Enterprise's return on assets of last year was -0.19264115. ==> 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.

Pingtan Marine Enterprise's current Net Income (TTM) was 9.2. Pingtan Marine Enterprise's current Cash Flow from Operations (TTM) was 31.7. ==> 31.7 > 9.2 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Jun22
=185.589/544.986
=0.34053902

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=276.795/502.1014
=0.55127311

Pingtan Marine Enterprise's gearing of this year was 0.34053902. Pingtan Marine Enterprise's gearing of last year was 0.55127311. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=215.562/288.602
=0.7469179

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=114.439/137.573
=0.831842

Pingtan Marine Enterprise's current ratio of this year was 0.7469179. Pingtan Marine Enterprise's current ratio of last year was 0.831842. ==> 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.

Pingtan Marine Enterprise's number of shares in issue this year was 85.941. Pingtan Marine Enterprise's number of shares in issue last year was 81.292. ==> 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
=-6.396/135.776
=-0.047107

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-14.42/98.24
=-0.14678339

Pingtan Marine Enterprise's gross margin of this year was -0.047107. Pingtan Marine Enterprise's gross margin of last year was -0.14678339. ==> 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 (Mar21)
=135.776/493.312
=0.27523352

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=98.24/478.553
=0.20528552

Pingtan Marine Enterprise's asset turnover of this year was 0.27523352. Pingtan Marine Enterprise's asset turnover of last year was 0.20528552. ==> 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+1+1+1+1+0+0+1+1
=7

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

Pingtan Marine Enterprise has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Pingtan Marine Enterprise  (NAS:PME) 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.


Pingtan Marine Enterprise Piotroski F-Score Related Terms

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Pingtan Marine Enterprise (Pingtan Marine Enterprise) Business Description

Traded in Other Exchanges
N/A
Address
No. 154 Hudong Road, 18-19th Floor, Zhongshan Building A, Gulou District, Fujian Province, Fuzhou, CHN, 350001
Pingtan Marine Enterprise Ltd is a marine enterprises group primarily engaging in ocean fishing. The company provides high-quality seafood to a diverse group of customers including distributors, restaurant owners and exporters in the China. It harvests a range of fish species with its owned and licensed vessels operating within the Indian Exclusive Economic Zone, Indo-Pacific waters, the Arafura Sea of Indonesia, and international waters of Atlantic and Pacific Oceans. Pingtan derives revenue primarily from the sales of frozen seafood products.
Executives
Liming Yung officer: Chief Financial Officer 18/F, ZHONGSHAN BUILDING A, NO. 154 HUDONG ROAD, FUZHOU F4 350001
Xinrong Zhuo director, 10 percent owner, officer: Chief Executive Officer FLOOR 18, TOWER A, ZHONG SHAN BUILDING, NO 154, HUDONG ROAD, GULAU DISTRICT, FUHOO CITY, FUJAN PROVINCE F4 00000
Lin Lin director 18-19/F, ZHONGSHAN BUILDING A,, NO. 154 HUDONG ROAD, FUZHOU F4 350001
Xingan Lin director 18-19/F, ZHONGSHAN BUILDING A,, NO. 154 HUDONG ROAD, FUZHOU F4 350001
Yang Yu officer: CFO 561 XIAN FENG ROAD, HARBIN HEILONGJIANG XX 1540000
Yeliang Zhou director FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000
Zengbiao Zhu director FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000
Lin Bao director FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000
Bin Lin director, officer: Senior Vice President FLOOR 18, TOWER A, ZHONGSHAN BUILDING, NO 154, HUDONG ROAD, GULOU DISTRICT, FUZHOU CITY, FUJIAN PROVINCE F4 00000
Jin Shi director, 10 percent owner, officer: Chief Executive Officer 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417
Teng Zhou director 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417
Xuesong Song director, 10 percent owner, officer: Chief Financial Officer 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417
Xuechu He director 1818 CANGGONG ROAD, FENGXIAN, SHANGHAI, CHEMICAL INDUSTRY PARK, SHANGHAI F4 201417
Michael W Zhang director A12 JIANGUOMENWAI AVENUE, NCI TOWER SUITE 1602, BEIJING F4 100022
Xue Bai director A12 JIANGUOMENWAI AVENUE, NCI TOWER SUITE 1602, BEIJING F4 100022