Greenrock Energy Co (ROCO:7833) Piotroski F-Score: 3 (As of Jul. 16, 2026) — Near Median

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ROCO:7833 Greenrock Energy Co Ltd ROCO:7833
7 GF Score
Price NT$21.90
! 6 Warning Signs
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What is Greenrock Energy Co Piotroski F-Score?

Greenrock Energy Co ROCO:7833 +1.62% 7 Piotroski F-Score is 3 as of Jul. 16, 2026, which is at its 10-year median of 3.00. GuruFocus rates ROCO:7833 with a GF Score™ of 7/100. The stock has 6 warning signs investors should review. Among 417 Utilities - Independent Power Producers companies, Greenrock Energy Co ranks worse than 82.49% 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

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

ROCO:7833' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 3   Max: 3
Current: 3

During the past 3 years, the highest Piotroski F-Score of Greenrock Energy Co was 3. The lowest was 3. And the median was 3.

Greenrock Energy Co  (ROCO:7833) 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.


Greenrock Energy Co Piotroski F-Score Related Terms


Greenrock Energy Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Greenrock Energy 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.

Greenrock Energy Co Piotroski F-Score Chart

Greenrock Energy Co Annual Data
Trend Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A 3.00

Greenrock Energy Co Semi-Annual Data
Dec23 Jun24 Dec24 Jun25 Dec25
Piotroski F-Score N/A 0.00 N/A 0.00 3.00

Greenrock Energy Co Piotroski F-Score Competitor Comparison

For the Utilities - Renewable subindustry, Greenrock Energy 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.


Greenrock Energy Co Piotroski F-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Greenrock Energy Co's Piotroski F-Score distribution charts can be found below:

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


ROCO:7833
7GF Score
Greenrock Energy Co Ltd ROCO:7833
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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$-39.0 Mil.
Cash Flow from Operations was NT$237.4 Mil.
Revenue was NT$893.2 Mil.
Gross Profit was NT$166.0 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (3846.898 + 4799.844) / 2 = NT$4323.371 Mil.
Total Assets at the begining of this year (Dec24) was NT$3,846.9 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,503.8 Mil.
Total Current Assets was NT$1,415.0 Mil.
Total Current Liabilities was NT$1,708.4 Mil.
Net Income was NT$41.9 Mil.

Revenue was NT$1,151.7 Mil.
Gross Profit was NT$275.8 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (2199.786 + 3846.898) / 2 = NT$3023.342 Mil.
Total Assets at the begining of last year (Dec23) was NT$2,199.8 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,276.3 Mil.
Total Current Assets was NT$1,123.3 Mil.
Total Current Liabilities was NT$1,155.8 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.

Greenrock Energy Co's current Net Income (TTM) was -39.0. ==> 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.

Greenrock Energy Co's current Cash Flow from Operations (TTM) was 237.4. ==> 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 (Dec24)
=-38.957/3846.898
=-0.01012686

ROA (Last Year)=Net Income/Total Assets (Dec23)
=41.868/2199.786
=0.01903276

Greenrock Energy Co's return on assets of this year was -0.01012686. Greenrock Energy Co's return on assets of last year was 0.01903276. ==> 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.

Greenrock Energy Co's current Net Income (TTM) was -39.0. Greenrock Energy Co's current Cash Flow from Operations (TTM) was 237.4. ==> 237.4 > -39.0 ==> 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
=1503.762/4323.371
=0.34782164

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1276.302/3023.342
=0.4221494

Greenrock Energy Co's gearing of this year was 0.34782164. Greenrock Energy Co's gearing of last year was 0.4221494. ==> 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
=1415.01/1708.378
=0.82827688

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=1123.338/1155.767
=0.97194158

Greenrock Energy Co's current ratio of this year was 0.82827688. Greenrock Energy Co's current ratio of last year was 0.97194158. ==> 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.

Greenrock Energy Co's number of shares in issue this year was 43.011. Greenrock Energy Co's number of shares in issue last year was 36.303. ==> 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
=166.048/893.218
=0.18589863

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=275.778/1151.654
=0.23946255

Greenrock Energy Co's gross margin of this year was 0.18589863. Greenrock Energy Co's gross margin of last year was 0.23946255. ==> 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)
=893.218/3846.898
=0.23219176

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1151.654/2199.786
=0.52353002

Greenrock Energy Co's asset turnover of this year was 0.23219176. Greenrock Energy Co's asset turnover of last year was 0.52353002. ==> 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
=0+1+0+1+1+0+0+0+0
=3

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

Greenrock Energy Co 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?
Greenrock Energy Co (ROCO:7833) has a Piotroski F-Score of 3 as of Jul. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Greenrock Energy Co and its competitors. This is near median its historical median of 3.00. Over the past decade, Greenrock Energy Co's Piotroski F-Score has ranged from 3.00 to 3.00. According to the industry distribution chart, Greenrock Energy Co ranks #344 out of 417 companies in the Utilities - Independent Power Producers industry, placing it in the top 82.5%.
Is Greenrock Energy Co's Piotroski F-Score too high?
Greenrock Energy Co's current Piotroski F-Score of 3 is near median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 3.00. The Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. Greenrock Energy Co's value of 3 is 40% below this industry median. Based on the distribution chart, Greenrock Energy Co ranks #344 out of 417 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Greenrock Energy Co has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does Greenrock Energy Co's Piotroski F-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Greenrock Energy Co ranks #344 out of 417 companies for Piotroski F-Score. This places Greenrock Energy Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Greenrock Energy Co's value of 3 is 40% below this benchmark. Historically, Greenrock Energy Co's own Piotroski F-Score has ranged from 3.00 to 3.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Greenrock Energy 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 an Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 417 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. Greenrock Energy Co's current Piotroski F-Score of 3 is 40% 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 Greenrock Energy Co and its competitors. For the Utilities - Independent Power Producers 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. Greenrock Energy Co's current Piotroski F-Score is 3, which is near median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Greenrock Energy Co stock overvalued right now?
Greenrock Energy Co (ROCO:7833) has a current Piotroski F-Score of 3. The current Piotroski F-Score is 3, which is near median its 10-year median of 3.00 and 40% below the Utilities - Independent Power Producers industry median of 5.00. Greenrock Energy Co's overall GF Score™ is 7/100 with 6 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 Greenrock Energy Co (ROCO:7833), the current Piotroski F-Score is 3 as of Jul. 16, 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.

Greenrock Energy Co Business Description

Address Ciyun Road, 13th Floor, 6-8, No.118, East District, Hsinchu, TWN
Greenrock Energy Co Ltd is engaged in the development of renewable and clean energy. The core business of the company includes energy generation (power plant development and investment), EPC services (engineering, procurement, and construction), and energy storage solutions. The company provides comprehensive renewable energy services, covering solar power plant development, EPC project execution, integrated system operations and maintenance, and green energy trading platform development.
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$21.90
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