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Huaneng Power International (SHSE:600011) Piotroski F-Score : 6 (As of Jul. 22, 2025)


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What is Huaneng Power International Piotroski F-Score?

The zones of discrimination were as such:

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

Huaneng Power International 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 Huaneng Power International's Piotroski F-Score or its related term are showing as below:

SHSE:600011' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Huaneng Power International was 8. The lowest was 4. And the median was 6.


Huaneng Power International Piotroski F-Score Historical Data

The historical data trend for Huaneng Power 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.

* Premium members only.

Huaneng Power International Piotroski F-Score Chart

Huaneng Power International Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 5.00 6.00 8.00 6.00

Huaneng Power International Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 6.00 6.00 6.00 6.00

Competitive Comparison of Huaneng Power International's Piotroski F-Score

For the Utilities - Independent Power Producers subindustry, Huaneng Power 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.


Huaneng Power International's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

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

* The bar in red indicates where Huaneng Power International's Piotroski F-Score falls into.


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 2857.68 + 2959.097 + -277.422 + 4972.739 = ¥10,512 Mil.
Cash Flow from Operations was 11460.357 + 19389.849 + 7537.477 + 17395.885 = ¥55,784 Mil.
Revenue was 53438.973 + 65589.857 + 61155.208 + 60334.915 = ¥240,519 Mil.
Gross Profit was 7992.536 + 11051.181 + 7637.285 + 11490.837 = ¥38,172 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(545424.371 + 552246.281 + 564902.152 + 586842.754 + 588492.645) / 5 = ¥567581.6406 Mil.
Total Assets at the begining of this year (Mar24) was ¥545,424 Mil.
Long-Term Debt & Capital Lease Obligation was ¥200,375 Mil.
Total Current Assets was ¥96,803 Mil.
Total Current Liabilities was ¥168,735 Mil.
Net Income was 4058.001 + 6255.334 + -4118.058 + 4596.138 = ¥10,791 Mil.

Revenue was 60762.899 + 65289.446 + 63074.981 + 65366.885 = ¥254,494 Mil.
Gross Profit was 8589.702 + 9435.707 + 6217.852 + 10506.739 = ¥34,750 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(507997.217 + 516495.195 + 521673.674 + 541159.281 + 545424.371) / 5 = ¥526549.9476 Mil.
Total Assets at the begining of last year (Mar23) was ¥507,997 Mil.
Long-Term Debt & Capital Lease Obligation was ¥186,288 Mil.
Total Current Assets was ¥93,693 Mil.
Total Current Liabilities was ¥173,356 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.

Huaneng Power International's current Net Income (TTM) was 10,512. ==> 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.

Huaneng Power International's current Cash Flow from Operations (TTM) was 55,784. ==> 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 (Mar24)
=10512.094/545424.371
=0.01927324

ROA (Last Year)=Net Income/Total Assets (Mar23)
=10791.415/507997.217
=0.02124306

Huaneng Power International's return on assets of this year was 0.01927324. Huaneng Power International's return on assets of last year was 0.02124306. ==> 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.

Huaneng Power International's current Net Income (TTM) was 10,512. Huaneng Power International's current Cash Flow from Operations (TTM) was 55,784. ==> 55,784 > 10,512 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=200374.589/567581.6406
=0.35303219

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=186287.526/526549.9476
=0.3537889

Huaneng Power International's gearing of this year was 0.35303219. Huaneng Power International's gearing of last year was 0.3537889. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=96803.272/168734.913
=0.57370031

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=93692.89/173356.234
=0.5404645

Huaneng Power International's current ratio of this year was 0.57370031. Huaneng Power International's current ratio of last year was 0.5404645. ==> 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.

Huaneng Power International's number of shares in issue this year was 18417.552. Huaneng Power International's number of shares in issue last year was 18384.553. ==> 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
=38171.839/240518.953
=0.15870616

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=34750/254494.211
=0.13654535

Huaneng Power International's gross margin of this year was 0.15870616. Huaneng Power International's gross margin of last year was 0.13654535. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=240518.953/545424.371
=0.44097581

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=254494.211/507997.217
=0.5009756

Huaneng Power International's asset turnover of this year was 0.44097581. Huaneng Power International's asset turnover of last year was 0.5009756. ==> 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+1+1+0+1+0
=6

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

Huaneng Power International has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Huaneng Power International  (SHSE:600011) 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.


Huaneng Power International Piotroski F-Score Related Terms

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Huaneng Power International Business Description

Traded in Other Exchanges
Address
No. 6 Fuxingmennei Street, Huaneng Building, Xicheng District, Beijing, CHN, 100031
Huaneng Power International Inc is an independent power producer. It develops, constructs, and operates power plants in Chinese provinces, as well as a wholly-owned power company in Singapore. The reportable segments of the Group are the PRC power segment, the overseas segment, and all other segments. It derives the majority of its revenue from the PRC power segment.

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