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Feng Chi Biotech (ROCO:6744) Piotroski F-Score : 5 (As of Oct. 31, 2024)


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What is Feng Chi Biotech 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

Feng Chi Biotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

ROCO:6744' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 6
Current: 5

During the past 8 years, the highest Piotroski F-Score of Feng Chi Biotech was 6. The lowest was 4. And the median was 6.


Feng Chi Biotech Piotroski F-Score Historical Data

The historical data trend for Feng Chi Biotech'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.

Feng Chi Biotech Piotroski F-Score Chart

Feng Chi Biotech Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 4.00 6.00 5.00 6.00 5.00

Feng Chi Biotech Semi-Annual Data
Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 - 6.00 - 5.00 -

Competitive Comparison of Feng Chi Biotech's Piotroski F-Score

For the Biotechnology subindustry, Feng Chi Biotech'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.


Feng Chi Biotech's Piotroski F-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Feng Chi Biotech's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Feng Chi Biotech'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was NT$22.8 Mil.
Cash Flow from Operations was NT$15.4 Mil.
Revenue was NT$180.6 Mil.
Gross Profit was NT$80.7 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (308.363 + 301.032) / 2 = NT$304.6975 Mil.
Total Assets at the begining of this year (Dec22) was NT$308.4 Mil.
Long-Term Debt & Capital Lease Obligation was NT$8.1 Mil.
Total Current Assets was NT$255.2 Mil.
Total Current Liabilities was NT$54.8 Mil.
Net Income was NT$24.6 Mil.

Revenue was NT$193.5 Mil.
Gross Profit was NT$83.4 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (286.69 + 308.363) / 2 = NT$297.5265 Mil.
Total Assets at the begining of last year (Dec21) was NT$286.7 Mil.
Long-Term Debt & Capital Lease Obligation was NT$10.8 Mil.
Total Current Assets was NT$275.2 Mil.
Total Current Liabilities was NT$61.5 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.

Feng Chi Biotech's current Net Income (TTM) was 22.8. ==> 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.

Feng Chi Biotech's current Cash Flow from Operations (TTM) was 15.4. ==> 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 (Dec22)
=22.792/308.363
=0.07391289

ROA (Last Year)=Net Income/Total Assets (Dec21)
=24.614/286.69
=0.0858558

Feng Chi Biotech's return on assets of this year was 0.07391289. Feng Chi Biotech's return on assets of last year was 0.0858558. ==> 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.

Feng Chi Biotech's current Net Income (TTM) was 22.8. Feng Chi Biotech's current Cash Flow from Operations (TTM) was 15.4. ==> 15.4 <= 22.8 ==> CFROA <= ROA ==> Score 0.

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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=8.149/304.6975
=0.02674456

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=10.798/297.5265
=0.03629257

Feng Chi Biotech's gearing of this year was 0.02674456. Feng Chi Biotech's gearing of last year was 0.03629257. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=255.207/54.798
=4.65723202

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=275.219/61.534
=4.47263302

Feng Chi Biotech's current ratio of this year was 4.65723202. Feng Chi Biotech's current ratio of last year was 4.47263302. ==> 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.

Feng Chi Biotech's number of shares in issue this year was 15.458. Feng Chi Biotech's number of shares in issue last year was 15.384. ==> 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
=80.721/180.578
=0.44701459

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=83.444/193.46
=0.4313243

Feng Chi Biotech's gross margin of this year was 0.44701459. Feng Chi Biotech's gross margin of last year was 0.4313243. ==> 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 (Dec22)
=180.578/308.363
=0.58560203

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=193.46/286.69
=0.67480554

Feng Chi Biotech's asset turnover of this year was 0.58560203. Feng Chi Biotech's asset turnover of last year was 0.67480554. ==> 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+0+1+1+0+1+0
=5

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

Feng Chi Biotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Feng Chi Biotech  (ROCO:6744) 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.


Feng Chi Biotech Piotroski F-Score Related Terms

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Feng Chi Biotech Business Description

Traded in Other Exchanges
N/A
Address
No. 5, Shaoxing North Street, 5th Floor-1, Zhongzheng District, Taipei City, TWN, 100
Feng Chi Biotech Corp provide promotion and support for clinical testing and molecular genetic medicine research related technologies. The company's products and services include clinical testing, food testing, newborn screening, prenatal screening, iron stomach, interscience, and colony counting.

Feng Chi Biotech Headlines

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