PNYG (Pony Group) Piotroski F-Score: 3 (As of Jun. 28, 2026) — 25% Below Median


What is Pony Group Piotroski F-Score?

Pony Group PNYG Piotroski F-Score is 3 as of Jun. 28, 2026, which is 25% below its 10-year median of 4.00. The stock has 4 warning signs investors should review. Among 973 Transportation companies, Pony Group ranks worse than 88.69% on this metric.

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Pony 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 Pony Group's Piotroski F-Score or its related term are showing as below:

PNYG' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 3

During the past 9 years, the highest Piotroski F-Score of Pony Group was 5. The lowest was 2. And the median was 4.

Pony Group  (OTCPK:PNYG) 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.


Pony Group Piotroski F-Score Related Terms


Pony Group Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Pony 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.

Pony Group Piotroski F-Score Chart

Pony Group Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 4.00 2.00 4.00 4.00 3.00

Pony Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 5.00 5.00 4.00 3.00 3.00

PNYG vs TLSS, CISS, APSI: Piotroski F-Score Comparison

For the Railroads subindustry, Pony Group'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.


Pony Group Piotroski F-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Pony Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Pony Group'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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -0.038 + -0.027 + -0.131 + -0.057 = $-0.25 Mil.
Cash Flow from Operations was -0.028 + -0.03 + -0.019 + -0.058 = $-0.14 Mil.
Revenue was 0.045 + 0.029 + 0.037 + 0.024 = $0.14 Mil.
Gross Profit was 0.016 + 0.009 + 0.01 + 0.017 = $0.05 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(0.014 + 0.024 + 0.024 + 0.022 + 0.023) / 5 = $0.0214 Mil.
Total Assets at the begining of this year (Mar25) was $0.01 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.02 Mil.
Total Current Liabilities was $1.03 Mil.
Net Income was -0.028 + -0.019 + -0.06 + -0.049 = $-0.16 Mil.

Revenue was 0.024 + 0.016 + 0.045 + 0.03 = $0.12 Mil.
Gross Profit was 0.011 + 0.008 + 0.018 + 0.012 = $0.05 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(0.032 + 0.027 + 0.035 + 0.017 + 0.014) / 5 = $0.025 Mil.
Total Assets at the begining of last year (Mar24) was $0.03 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Current Assets was $0.01 Mil.
Total Current Liabilities was $0.77 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.

Pony Group's current Net Income (TTM) was -0.25. ==> 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.

Pony Group's current Cash Flow from Operations (TTM) was -0.14. ==> 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 (Mar25)
=-0.253/0.014
=-18.07142857

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-0.156/0.032
=-4.875

Pony Group's return on assets of this year was -18.07142857. Pony Group's return on assets of last year was -4.875. ==> 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.

Pony Group's current Net Income (TTM) was -0.25. Pony Group's current Cash Flow from Operations (TTM) was -0.14. ==> -0.14 > -0.25 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=0.001/0.0214
=0.04672897

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=0/0.025
=0

Pony Group's gearing of this year was 0.04672897. Pony 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: Mar26)=Total Current Assets/Total Current Liabilities
=0.016/1.032
=0.01550388

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=0.014/0.766
=0.01827676

Pony Group's current ratio of this year was 0.01550388. Pony Group's current ratio of last year was 0.01827676. ==> 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.

Pony Group's number of shares in issue this year was 11.5. Pony Group's number of shares in issue last year was 11.5. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=0.052/0.135
=0.38518519

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.049/0.115
=0.42608696

Pony Group's gross margin of this year was 0.38518519. Pony Group's gross margin of last year was 0.42608696. ==> 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 (Mar25)
=0.135/0.014
=9.64285714

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=0.115/0.032
=3.59375

Pony Group's asset turnover of this year was 9.64285714. Pony Group's asset turnover of last year was 3.59375. ==> 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+0+1+0+0+1+0+1
=3

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

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

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Pony Group (PNYG) has a Piotroski F-Score of 3 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pony Group and its competitors. This is 25% below median its historical median of 4.00. Over the past decade, Pony Group's Piotroski F-Score has ranged from 2.00 to 5.00. According to the industry distribution chart, Pony Group ranks #863 out of 973 companies in the Transportation industry, placing it in the top 88.7%.
Is Pony Group's Piotroski F-Score too high?
Pony Group's current Piotroski F-Score of 3 is 25% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.00. The Transportation industry median Piotroski F-Score is 6.00. Pony Group's value of 3 is 50% below this industry median. Based on the distribution chart, Pony Group ranks #863 out of 973 companies in the Transportation industry, which is in the bottom quartile relative to peers.
How does Pony Group's Piotroski F-Score compare to TLSS and CISS?
According to the Transportation industry distribution chart, Pony Group ranks #863 out of 973 companies for Piotroski F-Score. This places Pony Group in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Pony Group's value of 3 is 50% below this benchmark. Historically, Pony Group's own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 6.00, Pony Group has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 973 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pony Group's current Piotroski F-Score of 3 is 50% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Pony Group and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pony Group's current Piotroski F-Score is 3, which is 25% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pony Group stock overvalued right now?
Based on GuruFocus' analysis, Pony Group (PNYG) is currently considered Possible Value Trap. The stock's GF Value™ is $0.81, compared to a current price of $0.07 — trading 91.2% below its estimated fair value. The current Piotroski F-Score is 3, which is 25% below median its 10-year median of 4.00 and 50% below the Transportation industry median of 6.00. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Pony Group (PNYG), the current Piotroski F-Score is 3 as of Jun. 28, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Pony Group Business Description

Address Room 17, Flat B, 17th Floor, Tsipeng Industrial Building, San Po Kong, Kowloon, HKG, 518000
Pony Group Inc provides airport pick-up and drop-off, and personal drivers services for travelers between Guangdong Province and Hong Kong. It offers customers seamless, customized and on-demand access to a variety of transportation options. The majority of the company's operations and revenue is derived from PRC.