LINCO Technology Co (ROCO:3644) Piotroski F-Score: 4 (As of Aug. 13, 2026) — 33% Below Median

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ROCO:3644 LINCO Technology Co Ltd ROCO:3644
27 GF Score
Price NT$297.00
! 5 Warning Signs
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What is LINCO Technology Co Piotroski F-Score?

LINCO Technology Co ROCO:3644 -0.67% 27 Piotroski F-Score is 4 as of Aug. 13, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates ROCO:3644 with a GF Score™ of 27/100. The stock has 5 warning signs investors should review. Among 977 Semiconductors companies, LINCO Technology Co ranks worse than 58.96% on this metric.

The zones of discrimination were as such:

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

LINCO Technology 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 LINCO Technology Co's Piotroski F-Score or its related term are showing as below:

ROCO:3644' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 4

During the past 12 years, the highest Piotroski F-Score of LINCO Technology Co was 8. The lowest was 1. And the median was 6.

LINCO Technology Co  (ROCO:3644) 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.


LINCO Technology Co Piotroski F-Score Related Terms


LINCO Technology Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for LINCO Technology 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.

LINCO Technology Co Piotroski F-Score Chart

LINCO Technology Co Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.00 8.00 6.00 8.00 4.00

LINCO Technology Co Semi-Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec23 Dec24 Dec25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.00 8.00 6.00 8.00 4.00

ROCO:3644 vs NVDA, AVGO, MU: Piotroski F-Score Comparison

For the Semiconductors subindustry, LINCO Technology 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.


LINCO Technology Co Piotroski F-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, LINCO Technology Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where LINCO Technology Co's Piotroski F-Score falls into.


ROCO:3644
27GF Score
LINCO Technology Co Ltd ROCO:3644
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was NT$160.6 Mil.
Cash Flow from Operations was NT$184.6 Mil.
Revenue was NT$956.0 Mil.
Gross Profit was NT$456.9 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (3531.162 + 3723.188) / 2 = NT$3627.175 Mil.
Total Assets at the begining of this year (Dec24) was NT$3,531.2 Mil.
Long-Term Debt & Capital Lease Obligation was NT$399.7 Mil.
Total Current Assets was NT$1,690.6 Mil.
Total Current Liabilities was NT$771.9 Mil.
Net Income was NT$333.0 Mil.

Revenue was NT$1,091.1 Mil.
Gross Profit was NT$588.8 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (2008.423 + 3531.162) / 2 = NT$2769.7925 Mil.
Total Assets at the begining of last year (Dec23) was NT$2,008.4 Mil.
Long-Term Debt & Capital Lease Obligation was NT$588.9 Mil.
Total Current Assets was NT$2,082.2 Mil.
Total Current Liabilities was NT$518.2 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.

LINCO Technology Co's current Net Income (TTM) was 160.6. ==> 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.

LINCO Technology Co's current Cash Flow from Operations (TTM) was 184.6. ==> 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 (Dec24)
=160.641/3531.162
=0.04549239

ROA (Last Year)=Net Income/Total Assets (Dec23)
=332.974/2008.423
=0.16578878

LINCO Technology Co's return on assets of this year was 0.04549239. LINCO Technology Co's return on assets of last year was 0.16578878. ==> 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.

LINCO Technology Co's current Net Income (TTM) was 160.6. LINCO Technology Co's current Cash Flow from Operations (TTM) was 184.6. ==> 184.6 > 160.6 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=399.717/3627.175
=0.11020064

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=588.861/2769.7925
=0.21260112

LINCO Technology Co's gearing of this year was 0.11020064. LINCO Technology Co's gearing of last year was 0.21260112. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=1690.588/771.9
=2.19016453

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=2082.17/518.232
=4.01783371

LINCO Technology Co's current ratio of this year was 2.19016453. LINCO Technology Co's current ratio of last year was 4.01783371. ==> 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.

LINCO Technology Co's number of shares in issue this year was 83.3. LINCO Technology Co's number of shares in issue last year was 74.992. ==> 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
=456.889/956.027
=0.47790387

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=588.814/1091.075
=0.53966409

LINCO Technology Co's gross margin of this year was 0.47790387. LINCO Technology Co's gross margin of last year was 0.53966409. ==> 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 (Dec24)
=956.027/3531.162
=0.27074006

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1091.075/2008.423
=0.5432496

LINCO Technology Co's asset turnover of this year was 0.27074006. LINCO Technology Co's asset turnover of last year was 0.5432496. ==> 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
=1+1+0+1+1+0+0+0+0
=4

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

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

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 4 mean?
LINCO Technology Co (ROCO:3644) has a Piotroski F-Score of 4 as of Aug. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on LINCO Technology Co and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, LINCO Technology Co's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, LINCO Technology Co ranks #576 out of 977 companies in the Semiconductors industry, placing it in the top 59%.
Is LINCO Technology Co's Piotroski F-Score too high?
LINCO Technology Co's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Semiconductors industry median Piotroski F-Score is 5.00. LINCO Technology Co's value of 4 is 20% below this industry median. Based on the distribution chart, LINCO Technology Co ranks #576 out of 977 companies in the Semiconductors industry, which is below the industry midpoint. Overall, LINCO Technology Co has a GF Score™ of 27/100, reflecting its overall financial health beyond just this single metric.
How does LINCO Technology Co's Piotroski F-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, LINCO Technology Co ranks #576 out of 977 companies for Piotroski F-Score. This places LINCO Technology Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. LINCO Technology Co's value of 4 is 20% below this benchmark. Historically, LINCO Technology Co's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, LINCO Technology Co 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 Semiconductors company?
The median Piotroski F-Score among Semiconductors companies is 5.00, based on 977 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. LINCO Technology Co's current Piotroski F-Score of 4 is 20% 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 LINCO Technology Co and its competitors. For the Semiconductors industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LINCO Technology Co's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LINCO Technology Co stock overvalued right now?
LINCO Technology Co (ROCO:3644) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Semiconductors industry median of 5.00. LINCO Technology Co's overall GF Score™ is 27/100 with 5 warning signs to review. 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 LINCO Technology Co (ROCO:3644), the current Piotroski F-Score is 4 as of Aug. 13, 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.

LINCO Technology Co Business Description

Address No.16,Keyuan 1st Road, Central Taiwan Science Park, Xitun District, Taichung City, TWN
LINCO Technology Co Ltd provide research and development on vacuum sputtering and plasma treatment equipment for the application in different industry. Its equipments are qualified and production- proven in IC substrate, EMC coating on 3C housing.
27GF Score

Get the complete analysis for ROCO:3644

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$297.00
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