Hoe LeongSGX:H20 Piotroski F-Score is 6 as of Jul. 09, 2026, which is 20% above its 10-year median of 5.00. The stock has 3 warning signs investors should review. Among 150 Industrial Distribution companies, Hoe Leong ranks better than 70.67% 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
Hoe Leong has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Hoe Leong's Piotroski F-Score or its related term are showing as below:
SGX:H20'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of Hoe Leong was 7. The lowest was 3. And the median was 5.
Hoe Leong (SGX:H20) 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.
Hoe Leong Piotroski F-Score Related Terms
Hoe Leong Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Hoe Leong'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.
SGX:H20 vs GWW, FAST, FERG: Piotroski F-Score Comparison
For the Industrial Distribution subindustry, Hoe Leong'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.
Hoe Leong Piotroski F-Score vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Hoe Leong's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hoe Leong'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.
Hoe Leong's current Net Income (TTM) was 0.47.
==> 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.
Hoe Leong's return on assets of this year was 0.01058521. Hoe Leong's return on assets of last year was 0.01646137.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Hoe Leong's gearing of this year was 0.06496008. Hoe Leong's gearing of last year was 0.07392317.
==> 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
Hoe Leong's current ratio of this year was 2.57494755. Hoe Leong's current ratio of last year was 2.26569837.
==> 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.
Hoe Leong's number of shares in issue this year was 15140.752. Hoe Leong's number of shares in issue last year was 15085.327.
==> 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.
Hoe Leong's gross margin of this year was 0.24924738. Hoe Leong's gross margin of last year was 0.22738014.
==> 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
Hoe Leong's asset turnover of this year was 0.86230279. Hoe Leong's asset turnover of last year was 0.996513.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hoe Leong has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Hoe Leong (SGX:H20) has a Piotroski F-Score of 6 as of Jul. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hoe Leong and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Hoe Leong's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Hoe Leong ranks #44 out of 150 companies in the Industrial Distribution industry, placing it in the top 29.3%.
Is Hoe Leong's Piotroski F-Score too high?
Hoe Leong'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 Industrial Distribution industry median Piotroski F-Score is 6.00. Hoe Leong's value of 6 is 0% at this industry median. Based on the distribution chart, Hoe Leong ranks #44 out of 150 companies in the Industrial Distribution industry, which is above the industry midpoint.
How does Hoe Leong's Piotroski F-Score compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Hoe Leong ranks #44 out of 150 companies for Piotroski F-Score. This puts Hoe Leong in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Hoe Leong's value of 6 is 0% at this benchmark. Historically, Hoe Leong'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 6.00, Hoe Leong has consistently been at 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 Industrial Distribution company?
The median Piotroski F-Score among Industrial Distribution companies is 6.00, based on 150 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. Hoe Leong's current Piotroski F-Score of 6 is 0% at 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 Hoe Leong and its competitors. For the Industrial Distribution industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hoe Leong'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 Hoe Leong stock overvalued right now?
Hoe Leong (SGX:H20) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 0% at the Industrial Distribution industry median of 6.00. 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 Hoe Leong (SGX:H20), the current Piotroski F-Score is 6 as of Jul. 09, 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.
Hoe Leong Corp Ltd specializes in providing undercarriage products, equipment parts, and services for heavy equipment and industrial machinery. Its offerings include an extensive range of parts for bulldozers, excavators, wheel loaders, and off-the-road (OTR) mining dump trucks, such as track frames, track chains and groups, rollers, shoes, sprockets, grouser parts, idlers, and OTR tires. The Group's reportable segments are Design and manufacture, Trading and distribution, and Investment Holding. Maximum revenue is derived from the Design and manufacture segment, which designs, manufactures, and sells equipment parts for both heavy equipment and industrial machinery under in-house brands like KBJ, ROSSI, and MIZU. Geographically, it operates globally and derives key revenue from Australia.
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