Hotel Properties (SGX:H15) Piotroski F-Score: 4 (As of Jul. 30, 2026) — 33% Below Median

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SGX:H15 Hotel Properties Ltd SGX:H15
64 GF Score
Price S$4.57
GF Value S$4.38
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is Hotel Properties Piotroski F-Score?

Hotel Properties SGX:H15 +0.44% 64 Piotroski F-Score is 4 as of Jul. 30, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates SGX:H15 with a GF Score™ of 64/100 and a GF Value™ of S$4.38 (Fairly Valued). The stock has 6 warning signs investors should review. Among 833 Travel & Leisure companies, Hotel Properties ranks worse than 70.47% 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

Hotel Properties 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 Hotel Properties's Piotroski F-Score or its related term are showing as below:

SGX:H15' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Hotel Properties was 7. The lowest was 2. And the median was 6.

Hotel Properties  (SGX:H15) 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.


Hotel Properties Piotroski F-Score Related Terms


Hotel Properties Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Hotel Properties'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.

Hotel Properties Piotroski F-Score Chart

Hotel Properties Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 7.00 4.00 4.00

Hotel Properties Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.00 4.00 0.00 4.00

SGX:H15 vs MAR, HLT, H: Piotroski F-Score Comparison

For the Lodging subindustry, Hotel Properties'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.


Hotel Properties Piotroski F-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Hotel Properties's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Hotel Properties's Piotroski F-Score falls into.


SGX:H15
64GF Score
Hotel Properties Ltd SGX:H15
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 S$-46.2 Mil.
Cash Flow from Operations was S$162.5 Mil.
Revenue was S$742.7 Mil.
Gross Profit was S$153.5 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (4484.719 + 4542.848) / 2 = S$4513.7835 Mil.
Total Assets at the begining of this year (Dec24) was S$4,484.7 Mil.
Long-Term Debt & Capital Lease Obligation was S$1,959.0 Mil.
Total Current Assets was S$236.5 Mil.
Total Current Liabilities was S$233.1 Mil.
Net Income was S$27.2 Mil.

Revenue was S$692.9 Mil.
Gross Profit was S$143.7 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (4200.989 + 4484.719) / 2 = S$4342.854 Mil.
Total Assets at the begining of last year (Dec23) was S$4,201.0 Mil.
Long-Term Debt & Capital Lease Obligation was S$1,645.1 Mil.
Total Current Assets was S$326.8 Mil.
Total Current Liabilities was S$420.5 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.

Hotel Properties's current Net Income (TTM) was -46.2. ==> 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.

Hotel Properties's current Cash Flow from Operations (TTM) was 162.5. ==> 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)
=-46.215/4484.719
=-0.01030499

ROA (Last Year)=Net Income/Total Assets (Dec23)
=27.218/4200.989
=0.00647895

Hotel Properties's return on assets of this year was -0.01030499. Hotel Properties's return on assets of last year was 0.00647895. ==> 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.

Hotel Properties's current Net Income (TTM) was -46.2. Hotel Properties's current Cash Flow from Operations (TTM) was 162.5. ==> 162.5 > -46.2 ==> 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
=1959.022/4513.7835
=0.43400885

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1645.098/4342.854
=0.37880573

Hotel Properties's gearing of this year was 0.43400885. Hotel Properties's gearing of last year was 0.37880573. ==> Last year is lower than this year ==> Score 0.

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
=236.464/233.113
=1.014375

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=326.776/420.542
=0.77703535

Hotel Properties's current ratio of this year was 1.014375. Hotel Properties's current ratio of last year was 0.77703535. ==> 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.

Hotel Properties's number of shares in issue this year was 527.387. Hotel Properties's number of shares in issue last year was 523.372. ==> 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
=153.5/742.687
=0.20668195

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=143.736/692.928
=0.20743281

Hotel Properties's gross margin of this year was 0.20668195. Hotel Properties's gross margin of last year was 0.20743281. ==> 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)
=742.687/4484.719
=0.16560391

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=692.928/4200.989
=0.16494402

Hotel Properties's asset turnover of this year was 0.16560391. Hotel Properties's asset turnover of last year was 0.16494402. ==> 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
=0+1+0+1+0+1+0+0+1
=4

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

Hotel Properties 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?
Hotel Properties (SGX:H15) has a Piotroski F-Score of 4 as of Jul. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hotel Properties and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Hotel Properties' Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Hotel Properties ranks #587 out of 833 companies in the Travel & Leisure industry, placing it in the top 70.5%.
Is Hotel Properties' Piotroski F-Score too high?
Hotel Properties' 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 2.00 to a high of 7.00. The Travel & Leisure industry median Piotroski F-Score is 5.00. Hotel Properties' value of 4 is 20% below this industry median. Based on the distribution chart, Hotel Properties ranks #587 out of 833 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Hotel Properties has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hotel Properties' Piotroski F-Score compare to MAR and HLT?
According to the Travel & Leisure industry distribution chart, Hotel Properties ranks #587 out of 833 companies for Piotroski F-Score. This places Hotel Properties in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Hotel Properties' value of 4 is 20% below this benchmark. Historically, Hotel Properties' own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Hotel Properties 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 Travel & Leisure company?
The median Piotroski F-Score among Travel & Leisure companies is 5.00, based on 833 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. Hotel Properties'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 Hotel Properties and its competitors. For the Travel & Leisure 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. Hotel Properties'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 Hotel Properties stock overvalued right now?
Based on GuruFocus' analysis, Hotel Properties (SGX:H15) is currently considered Fairly Valued. The stock's GF Value™ is S$4.38, compared to a current price of S$4.57 — trading 4.3% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Travel & Leisure industry median of 5.00. Hotel Properties' overall GF Score™ is 64/100 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 Hotel Properties (SGX:H15), the current Piotroski F-Score is 4 as of Jul. 30, 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 Hotel Properties (SGX:H15) Overvalued in 2026?

Based on GuruFocus' analysis, Hotel Properties stock appears to be overvalued. The current stock price of S$4.57 is trading 4.3% above its estimated GF Value™ of S$4.38. GuruFocus considers Hotel Properties to be Fairly Valued.

Key valuation signals for SGX:H15:

  • Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
  • GF Value™: S$4.38 vs. price of S$4.57 (4.3% above fair value)
  • GF Score™: 64/100 with 6 warning signs
  • Industry Position: 20% below the Travel & Leisure median (#587 of 833)

No single metric tells the full story. See the SGX:H15 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hotel Properties Business Description

Address 50 Cuscaden Road, No. 08-01, HPL House, Singapore, SGP, 249724
Hotel Properties Ltd is a Singapore-based hotelier and investment holding company. The principal business activities of the company are hotel ownership, management, and operation, property development, and investment holding. The company's segments are Hotels, Properties, and Others. The Hotels segment, which generates key revenue, deals with the operations of the hotels and shopping galleries of the company as well as the provision of hotel management services. Geographically, it derives a majority of its revenue from the Maldives, and the rest from Singapore, the rest of Asia, the United Kingdom and Europe, and Others.
64GF Score

Get the complete analysis for SGX:H15

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

S$4.57
Price
S$4.38
GF Value