United Hampshire US REIT (SGX:ODBU) Piotroski F-Score: 3 (As of Jul. 21, 2026) — 40% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SGX:ODBU United Hampshire US REIT SGX:ODBU
38 GF Score
Price $0.52
GF Value $0.46
Valuation Modestly Overvalued
! 12 Warning Signs
View Full Analysis

What is United Hampshire US REIT Piotroski F-Score?

United Hampshire US REIT SGX:ODBU 38 Piotroski F-Score is 3 as of Jul. 21, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates SGX:ODBU with a GF Score™ of 38/100 and a GF Value™ of $0.46 (Modestly Overvalued). The stock has 12 warning signs investors should review. Among 885 REITs companies, United Hampshire US REIT ranks worse than 89.6% 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

United Hampshire US REIT 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 United Hampshire US REIT's Piotroski F-Score or its related term are showing as below:

SGX:ODBU' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 6
Current: 3

During the past 9 years, the highest Piotroski F-Score of United Hampshire US REIT was 6. The lowest was 3. And the median was 5.

United Hampshire US REIT  (SGX:ODBU) 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.


United Hampshire US REIT Piotroski F-Score Related Terms


United Hampshire US REIT Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for United Hampshire US REIT'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.

United Hampshire US REIT Piotroski F-Score Chart

United Hampshire US REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 5.00 6.00 5.00 3.00

United Hampshire US REIT Semi-Annual Data
Dec18 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 6.00 0.00 5.00 0.00 3.00

SGX:ODBU vs SPG, O, KIM: Piotroski F-Score Comparison

For the REIT - Retail subindustry, United Hampshire US REIT'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.


United Hampshire US REIT Piotroski F-Score vs REITs Industry

For the REITs industry and Real Estate sector, United Hampshire US REIT's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where United Hampshire US REIT's Piotroski F-Score falls into.


SGX:ODBU
38GF Score
United Hampshire US REIT SGX:ODBU
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 $20.65 Mil.
Cash Flow from Operations was $43.42 Mil.
Revenue was $71.64 Mil.
Gross Profit was $45.03 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (799.998 + 826.781) / 2 = $813.3895 Mil.
Total Assets at the begining of this year (Dec24) was $800.00 Mil.
Long-Term Debt & Capital Lease Obligation was $283.43 Mil.
Total Current Assets was $32.38 Mil.
Total Current Liabilities was $68.15 Mil.
Net Income was $29.91 Mil.

Revenue was $72.76 Mil.
Gross Profit was $46.37 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (808.758 + 799.998) / 2 = $804.378 Mil.
Total Assets at the begining of last year (Dec23) was $808.76 Mil.
Long-Term Debt & Capital Lease Obligation was $268.92 Mil.
Total Current Assets was $48.52 Mil.
Total Current Liabilities was $63.08 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.

United Hampshire US REIT's current Net Income (TTM) was 20.65. ==> 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.

United Hampshire US REIT's current Cash Flow from Operations (TTM) was 43.42. ==> 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)
=20.651/799.998
=0.02581381

ROA (Last Year)=Net Income/Total Assets (Dec23)
=29.907/808.758
=0.03697892

United Hampshire US REIT's return on assets of this year was 0.02581381. United Hampshire US REIT's return on assets of last year was 0.03697892. ==> 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.

United Hampshire US REIT's current Net Income (TTM) was 20.65. United Hampshire US REIT's current Cash Flow from Operations (TTM) was 43.42. ==> 43.42 > 20.65 ==> 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
=283.431/813.3895
=0.34845667

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=268.916/804.378
=0.33431546

United Hampshire US REIT's gearing of this year was 0.34845667. United Hampshire US REIT's gearing of last year was 0.33431546. ==> 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
=32.382/68.151
=0.47515077

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=48.517/63.075
=0.7691954

United Hampshire US REIT's current ratio of this year was 0.47515077. United Hampshire US REIT's current ratio of last year was 0.7691954. ==> 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.

United Hampshire US REIT's number of shares in issue this year was 597.414. United Hampshire US REIT's number of shares in issue last year was 584.64. ==> 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
=45.027/71.638
=0.62853513

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=46.369/72.763
=0.6372607

United Hampshire US REIT's gross margin of this year was 0.62853513. United Hampshire US REIT's gross margin of last year was 0.6372607. ==> 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)
=71.638/799.998
=0.08954772

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=72.763/808.758
=0.08996882

United Hampshire US REIT's asset turnover of this year was 0.08954772. United Hampshire US REIT's asset turnover of last year was 0.08996882. ==> 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+1+0+0+0+0+0
=3

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

United Hampshire US REIT 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?
United Hampshire US REIT (SGX:ODBU) has a Piotroski F-Score of 3 as of Jul. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on United Hampshire US REIT and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, United Hampshire US REIT's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, United Hampshire US REIT ranks #793 out of 885 companies in the REITs industry, placing it in the top 89.6%.
Is United Hampshire US REIT's Piotroski F-Score too high?
United Hampshire US REIT's current Piotroski F-Score of 3 is 40% below 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 6.00. The REITs industry median Piotroski F-Score is 6.00. United Hampshire US REIT's value of 3 is 50% below this industry median. Based on the distribution chart, United Hampshire US REIT ranks #793 out of 885 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, United Hampshire US REIT has a GF Score™ of 38/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does United Hampshire US REIT's Piotroski F-Score compare to SPG and O?
According to the REITs industry distribution chart, United Hampshire US REIT ranks #793 out of 885 companies for Piotroski F-Score. This places United Hampshire US REIT in the lower half of its industry. The industry median Piotroski F-Score is 6.00. United Hampshire US REIT's value of 3 is 50% below this benchmark. Historically, United Hampshire US REIT's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, United Hampshire US REIT 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 REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 885 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. United Hampshire US REIT's current Piotroski F-Score of 3 is 50% 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 United Hampshire US REIT and its competitors. For the REITs 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. United Hampshire US REIT's current Piotroski F-Score is 3, which is 40% below 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 United Hampshire US REIT stock overvalued right now?
Based on GuruFocus' analysis, United Hampshire US REIT (SGX:ODBU) is currently considered Modestly Overvalued. The stock's GF Value™ is $0.46, compared to a current price of $0.52 — trading 12% above its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 50% below the REITs industry median of 6.00. United Hampshire US REIT's overall GF Score™ is 38/100 with 12 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 United Hampshire US REIT (SGX:ODBU), the current Piotroski F-Score is 3 as of Jul. 21, 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 United Hampshire US REIT (SGX:ODBU) Overvalued in 2026?

Based on GuruFocus' analysis, United Hampshire US REIT stock appears to be overvalued. The current stock price of $0.52 is trading 12% above its estimated GF Value™ of $0.46. GuruFocus considers United Hampshire US REIT to be Modestly Overvalued.

Key valuation signals for SGX:ODBU:

  • Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
  • GF Value™: $0.46 vs. price of $0.52 (12% above fair value)
  • GF Score™: 38/100 with 12 warning signs
  • Industry Position: 50% below the REITs median (#793 of 885)

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


United Hampshire US REIT Business Description

Industry Real EstateREITs
Address 80 Raffles Place, No. 28-21 UOB Plaza 2, Singapore, SGP, 048624
United Hampshire US REIT is a REIT investing in a diversified portfolio of stabilized income-producing grocery-anchored and necessity-based retail properties, and modern, climate-controlled self-storage facilities, located in the United States of America. The company's objectives are to provide unitholders with regular and stable distributions and to achieve long-term growth in distribution per unit and net asset value per unit while maintaining an appropriate capital structure. The group's reportable operating segments are Grocery and Necessity Properties; and Self-Storage Properties. The company generates a majority of its revenue from the Grocery and Necessity Properties segment.
38GF Score

Get the complete analysis for SGX:ODBU

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

$0.52
Price
$0.46
GF Value