China Southern Airlines CoSHSE:600029 -3.05%64 Piotroski F-Score is 8 as of Jun. 27, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates SHSE:600029 with a GF Score™ of 64/100 and a GF Value™ of ¥6.31 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 979 Transportation companies, China Southern Airlines Co ranks better than 97.45% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Southern Airlines Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for China Southern Airlines Co's Piotroski F-Score or its related term are showing as below:
SHSE:600029'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of China Southern Airlines Co was 8. The lowest was 3. And the median was 5.
China Southern Airlines Co (SHSE:600029) 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.
China Southern Airlines Co Piotroski F-Score Related Terms
China Southern Airlines Co Piotroski F-Score Historical Data
* 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.
China Southern Airlines Co Piotroski F-Score Chart
SHSE:600029 vs DAL, UAL, LUV: Piotroski F-Score Comparison
For the Airlines subindustry, China Southern Airlines Co'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.
China Southern Airlines Co Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, China Southern Airlines Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China Southern Airlines Co'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.
China Southern Airlines Co's current Net Income (TTM) was 3,085.
==> 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.
China Southern Airlines Co's current Cash Flow from Operations (TTM) was 38,629.
==> 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.
China Southern Airlines Co's return on assets of this year was 0.00934161. China Southern Airlines Co's return on assets of last year was -0.0101967.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China Southern Airlines Co's gearing of this year was 0.38710261. China Southern Airlines Co's gearing of last year was 0.41703929.
==> 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
China Southern Airlines Co's current ratio of this year was 0.2833597. China Southern Airlines Co's current ratio of last year was 0.25743978.
==> 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.
China Southern Airlines Co's number of shares in issue this year was 21157.143. China Southern Airlines Co's number of shares in issue last year was 14940.
==> 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.
China Southern Airlines Co's gross margin of this year was 0.10697044. China Southern Airlines Co's gross margin of last year was 0.0777842.
==> 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
China Southern Airlines Co's asset turnover of this year was 0.56513234. China Southern Airlines Co's asset turnover of last year was 0.55152695.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China Southern Airlines Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
China Southern Airlines Co (SHSE:600029) has a Piotroski F-Score of 8 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on China Southern Airlines Co and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, China Southern Airlines Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, China Southern Airlines Co ranks #25 out of 979 companies in the Transportation industry, placing it in the top 2.6%.
Is China Southern Airlines Co's Piotroski F-Score too high?
China Southern Airlines Co's current Piotroski F-Score of 8 is 60% 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 8.00. The Transportation industry median Piotroski F-Score is 6.00. China Southern Airlines Co's value of 8 is 33.3% above this industry median. Based on the distribution chart, China Southern Airlines Co ranks #25 out of 979 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, China Southern Airlines Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Southern Airlines Co's Piotroski F-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, China Southern Airlines Co ranks #25 out of 979 companies for Piotroski F-Score. This places China Southern Airlines Co in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. China Southern Airlines Co's value of 8 is 33.3% above this benchmark. Historically, China Southern Airlines Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, China Southern Airlines Co 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 Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 979 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. China Southern Airlines Co's current Piotroski F-Score of 8 is 33.3% 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 China Southern Airlines Co and its competitors. For the Transportation 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. China Southern Airlines Co's current Piotroski F-Score is 8, which is 60% 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 China Southern Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, China Southern Airlines Co (SHSE:600029) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥6.31, compared to a current price of ¥5.41 — trading 14.3% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 33.3% above the Transportation industry median of 6.00. China Southern Airlines Co's 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 China Southern Airlines Co (SHSE:600029), the current Piotroski F-Score is 8 as of Jun. 27, 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 China Southern Airlines Co (SHSE:600029) Overvalued in 2026?
Based on GuruFocus' analysis, China Southern Airlines Co stock appears to be undervalued.
The current stock price of ¥5.41 is trading 14.3% below its estimated GF Value™ of ¥6.31.
GuruFocus considers China Southern Airlines Co to be Modestly Undervalued.
Key valuation signals for SHSE:600029:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: ¥6.31 vs. price of ¥5.41 (14.3% below fair value)
Industry Position: 33.3% above the Transportation median (#25 of 979)
No single metric tells the full story. See the SHSE:600029 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Southern Airlines Co Ltd is based in Guangzhou principally engaged in airline operations. The Group also operates certain airline-related businesses, including the provision of aircraft maintenance and air catering services. The Group has two reportable operating segments: airline transportation operations and other segments. Airline transportation operations comprise the Group's passenger and cargo, and mail operations. Other segments include cargo handling, hotel and tour operation, ground services, air catering services, and other miscellaneous services. Geographically, the company operates in the Domestic, Hong Kong, Macau, and Taiwan, and International markets.
64GF Score
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