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Bioteque (ROCO:4107) Piotroski F-Score : 9 (As of Mar. 16, 2025)


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What is Bioteque Piotroski F-Score?

Good Sign:

Piotroski F-Score is 9, indicates a very healthy situation.

The zones of discrimination were as such:

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

Bioteque has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

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

ROCO:4107' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Bioteque was 9. The lowest was 3. And the median was 7.


Bioteque Piotroski F-Score Historical Data

The historical data trend for Bioteque'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.

Bioteque Piotroski F-Score Chart

Bioteque Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 5.00 6.00 7.00 9.00

Bioteque Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 7.00 6.00 6.00 9.00 9.00

Competitive Comparison of Bioteque's Piotroski F-Score

For the Medical Instruments & Supplies subindustry, Bioteque'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.


Bioteque's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Bioteque's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bioteque'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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 125.686 + 124.522 + 143.825 + 134.227 = NT$528 Mil.
Cash Flow from Operations was 175.917 + 162.627 + 130.905 + 233.168 = NT$703 Mil.
Revenue was 496.261 + 518.754 + 553.313 + 504.247 = NT$2,073 Mil.
Gross Profit was 205.209 + 217.784 + 251.014 + 231.071 = NT$905 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(4620.368 + 4752.608 + 4839.622 + 4492.159 + 4645.411) / 5 = NT$4670.0336 Mil.
Total Assets at the begining of this year (Dec23) was NT$4,620 Mil.
Long-Term Debt & Capital Lease Obligation was NT$582 Mil.
Total Current Assets was NT$2,216 Mil.
Total Current Liabilities was NT$565 Mil.
Net Income was 98.699 + 102.586 + 146.08 + 105.185 = NT$453 Mil.

Revenue was 455.936 + 472.255 + 498.093 + 518.417 = NT$1,945 Mil.
Gross Profit was 179.608 + 186.664 + 225.069 + 227.596 = NT$819 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(4480.494 + 4510.269 + 4581.387 + 4495.188 + 4620.368) / 5 = NT$4537.5412 Mil.
Total Assets at the begining of last year (Dec22) was NT$4,480 Mil.
Long-Term Debt & Capital Lease Obligation was NT$734 Mil.
Total Current Assets was NT$2,151 Mil.
Total Current Liabilities was NT$642 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.

Bioteque's current Net Income (TTM) was 528. ==> 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.

Bioteque's current Cash Flow from Operations (TTM) was 703. ==> 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 (Dec23)
=528.26/4620.368
=0.11433288

ROA (Last Year)=Net Income/Total Assets (Dec22)
=452.55/4480.494
=0.10100449

Bioteque's return on assets of this year was 0.11433288. Bioteque's return on assets of last year was 0.10100449. ==> 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.

Bioteque's current Net Income (TTM) was 528. Bioteque's current Cash Flow from Operations (TTM) was 703. ==> 703 > 528 ==> 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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=581.881/4670.0336
=0.12459889

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=734.455/4537.5412
=0.16186189

Bioteque's gearing of this year was 0.12459889. Bioteque's gearing of last year was 0.16186189. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=2215.768/565.348
=3.91929926

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=2151.218/642.057
=3.35050938

Bioteque's current ratio of this year was 3.91929926. Bioteque's current ratio of last year was 3.35050938. ==> 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.

Bioteque's number of shares in issue this year was 69.712. Bioteque's number of shares in issue last year was 69.737. ==> 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
=905.078/2072.575
=0.43669252

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=818.937/1944.701
=0.42111204

Bioteque's gross margin of this year was 0.43669252. Bioteque's gross margin of last year was 0.42111204. ==> 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 (Dec23)
=2072.575/4620.368
=0.44857358

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=1944.701/4480.494
=0.43403718

Bioteque's asset turnover of this year was 0.44857358. Bioteque's asset turnover of last year was 0.43403718. ==> 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+1+1+1+1
=9

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

Bioteque has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Bioteque  (ROCO:4107) 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.


Bioteque Piotroski F-Score Related Terms

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Bioteque Business Description

Traded in Other Exchanges
N/A
Address
Chang-An E. Road, 5th Floor-6, No.23, Section 1, Taipei, TWN, 104
Bioteque Corp is engaged in manufacturing, trading, and selling medical equipment and instruments. The company operates in different segments such as Manufacturing medical disposables for hemodialysis use, and selling them to dealers and retailers; Manufacturing and selling catheters for healthcare and medical PVC IV bags to medical organizations; Manufacturing and selling medical key components and inner catheters to the medical organization; and other segment. Geographically, the company generates a majority of its revenue from Asia and the rest from North America, South America, and other regions.

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