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Guanghui Energy Co (SHSE:600256) Piotroski F-Score : 4 (As of Dec. 13, 2024)


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What is Guanghui Energy Co 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

Guanghui Energy Co 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 Guanghui Energy Co's Piotroski F-Score or its related term are showing as below:

SHSE:600256' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of Guanghui Energy Co was 9. The lowest was 3. And the median was 6.


Guanghui Energy Co Piotroski F-Score Historical Data

The historical data trend for Guanghui Energy Co'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.

Guanghui Energy Co Piotroski F-Score Chart

Guanghui Energy Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 9.00 6.00 6.00

Guanghui Energy Co Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 6.00 6.00 4.00 4.00 4.00

Competitive Comparison of Guanghui Energy Co's Piotroski F-Score

For the Oil & Gas Integrated subindustry, Guanghui Energy 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.


Guanghui Energy Co's Piotroski F-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Guanghui Energy Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Guanghui Energy Co's Piotroski F-Score falls into.


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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 322.725 + 807.462 + 647.568 + 547.517 = ¥2,325 Mil.
Cash Flow from Operations was 2596.134 + 1710.695 + 914.782 + 1441.367 = ¥6,663 Mil.
Revenue was 11906.422 + 10041.045 + 7207.498 + 9142.605 = ¥38,298 Mil.
Gross Profit was 1693.9 + 1755.42 + 1576.492 + 1406.553 = ¥6,432 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(59876.376 + 58563.494 + 60653.951 + 55224.652 + 54849.15) / 5 = ¥57833.5246 Mil.
Total Assets at the begining of this year (Sep23) was ¥59,876 Mil.
Long-Term Debt & Capital Lease Obligation was ¥5,547 Mil.
Total Current Assets was ¥10,700 Mil.
Total Current Liabilities was ¥20,512 Mil.
Net Income was 2934.782 + 3007.17 + 1114.389 + 729.014 = ¥7,785 Mil.

Revenue was 22129.886 + 19861.532 + 15224.894 + 14482.284 = ¥71,699 Mil.
Gross Profit was 4640.641 + 4673.309 + 1908.354 + 1772.597 = ¥12,995 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(68176.842 + 61588.728 + 62677.286 + 58479.025 + 59876.376) / 5 = ¥62159.6514 Mil.
Total Assets at the begining of last year (Sep22) was ¥68,177 Mil.
Long-Term Debt & Capital Lease Obligation was ¥7,484 Mil.
Total Current Assets was ¥14,024 Mil.
Total Current Liabilities was ¥22,307 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.

Guanghui Energy Co's current Net Income (TTM) was 2,325. ==> 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.

Guanghui Energy Co's current Cash Flow from Operations (TTM) was 6,663. ==> 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 (Sep23)
=2325.272/59876.376
=0.03883455

ROA (Last Year)=Net Income/Total Assets (Sep22)
=7785.355/68176.842
=0.11419354

Guanghui Energy Co's return on assets of this year was 0.03883455. Guanghui Energy Co's return on assets of last year was 0.11419354. ==> 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.

Guanghui Energy Co's current Net Income (TTM) was 2,325. Guanghui Energy Co's current Cash Flow from Operations (TTM) was 6,663. ==> 6,663 > 2,325 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=5547.352/57833.5246
=0.09591931

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=7484.14/62159.6514
=0.1204019

Guanghui Energy Co's gearing of this year was 0.09591931. Guanghui Energy Co's gearing of last year was 0.1204019. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=10699.97/20511.95
=0.52164567

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=14023.592/22306.722
=0.62867112

Guanghui Energy Co's current ratio of this year was 0.52164567. Guanghui Energy Co's current ratio of last year was 0.62867112. ==> 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.

Guanghui Energy Co's number of shares in issue this year was 6565.141. Guanghui Energy Co's number of shares in issue last year was 6564.167. ==> 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
=6432.365/38297.57
=0.16795752

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12994.901/71698.596
=0.18124345

Guanghui Energy Co's gross margin of this year was 0.16795752. Guanghui Energy Co's gross margin of last year was 0.18124345. ==> 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 (Sep23)
=38297.57/59876.376
=0.63961069

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=71698.596/68176.842
=1.05165616

Guanghui Energy Co's asset turnover of this year was 0.63961069. Guanghui Energy Co's asset turnover of last year was 1.05165616. ==> 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+0+0+0+0
=4

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

Guanghui Energy Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Guanghui Energy Co  (SHSE:600256) 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.


Guanghui Energy Co Piotroski F-Score Related Terms

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Guanghui Energy Co Business Description

Traded in Other Exchanges
N/A
Address
16 Shanghai Road, Xinjiang Uygur Autonomous Region, Urumqi Economic and Technological Development Zone, Xinjiang, CHN
Guanghui Energy Co Ltd is engaged in the business of liquefied natural gas (LNG), coal chemical, coal development, and oil and gas exploration and development. The company has formed four segments focusing on coal liquefaction, coal mining, coal chemical conversion, and oil and gas exploration and development with coal, LNG, alcohol ether, coal tar, and petroleum as core products, and supported by energy logistics.
Executives
Han Shi Fa Director
Xu Yun senior management
Ma Xiao Yan Director
Wang Lin Supervisors
Liang Xiao Director
Tan Bai Director
Wang Guo Lin Supervisors
Chen Rui Zhong Supervisors
Lin Fa Xian Director
Yang Wei Hua senior management
Liu Chang Jin Director
Ni Juan Director
Wu Xiao Yong Director
Zhao Qiang senior management
Song Dong Sheng Director

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