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Evologic International (SGX:1H2) 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.
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.
Evologic International Piotroski F-Score Related Terms
Evologic International Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Evologic International'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.
For the Real Estate - Diversified subindustry, Evologic International'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.
Evologic International Piotroski F-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Evologic International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Evologic International's Piotroski F-Score falls into.
* 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.
*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.
Evologic International's current Net Income (TTM) was -1.47.
==> 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.
Evologic International's current Cash Flow from Operations (TTM) was -0.30.
==> 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.
Evologic International's return on assets of this year was -0.08072216. Evologic International's return on assets of last year was -0.02561274.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Evologic International's gearing of this year was 0.22424723. Evologic International's gearing of last year was 0.24365274.
==> 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
Evologic International's current ratio of this year was 4.74035317. Evologic International's current ratio of last year was 0.75790205.
==> 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.
Evologic International's number of shares in issue this year was 115.848. Evologic International's number of shares in issue last year was 115.848.
==> 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.
Evologic International's gross margin of this year was 0.91144201. Evologic International's gross margin of last year was 0.90498812.
==> 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
Evologic International's asset turnover of this year was 0.0700214. Evologic International's asset turnover of last year was 0.06057845.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Evologic International has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Evologic International (SGX:1H2) has a Piotroski F-Score of 6 as of Aug. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Evologic International and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Evologic International's Piotroski F-Score has ranged from 3.00 to 7.00.
Is Evologic International's Piotroski F-Score too high?
Evologic International's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Real Estate industry median Piotroski F-Score is 5.00. Evologic International's value of 6 is 20% above this industry median. Overall, Evologic International has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Evologic International's Piotroski F-Score compare to JOE?
Evologic International's Piotroski F-Score of 6 can be compared against companies in the Real Estate industry. The industry median Piotroski F-Score is 5.00. Evologic International's value of 6 is 20% above this benchmark. Historically, Evologic International's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Evologic International has consistently been above 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 Real Estate company?
The median Piotroski F-Score among Real Estate companies is 5.00, based on 1,752 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. Evologic International's current Piotroski F-Score of 6 is 20% above 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 Evologic International and its competitors. For the Real Estate 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. Evologic International's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Evologic International stock overvalued right now?
Evologic International (SGX:1H2) has a current Piotroski F-Score of 6. The stock's GF Value™ is S$0.08, compared to a current price of S$0.12 — trading 50% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Real Estate industry median of 5.00. Evologic International's overall GF Score™ is 18/100 with 8 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 Evologic International (SGX:1H2), the current Piotroski F-Score is 6 as of Aug. 11, 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.
Is Evologic International (SGX:1H2) Overvalued in 2026?
Based on GuruFocus' analysis, Evologic International stock appears to be overvalued.
The current stock price of S$0.12 is trading 50% above its estimated GF Value™ of S$0.08.
Key valuation signals for SGX:1H2:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: S$0.08 vs. price of S$0.12 (50% above fair value)
Industry Position: 20% above the Real Estate median
No single metric tells the full story. See the SGX:1H2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Evologic International Ltd, formerly Olive Tree Estates Ltd is a Singapore-based investment holding company engaged in the development and sale of properties and property rental. The company operates through three business segments which include Investment, Property development comprising the Development and sale of light industrial buildings, and Property rental which includes Property management. Geographically group has a presence in Singapore and Vietnam. The majority of its revenue derives from the Property rental segment in Singapore. The company's revenue comprised of rental income that reflected full tenancy at the One Commonwealth investment properties units.
18GF Score
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