Nanjing Central Emporium Group Stocks Co (SHSE:600280) 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.
Nanjing Central Emporium Group Stocks Co Piotroski F-Score Related Terms
Nanjing Central Emporium Group Stocks 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.
Nanjing Central Emporium Group Stocks Co Piotroski F-Score Chart
Nanjing Central Emporium Group Stocks Co Annual Data
For the Department Stores subindustry, Nanjing Central Emporium Group Stocks 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.
Nanjing Central Emporium Group Stocks Co Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Nanjing Central Emporium Group Stocks Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nanjing Central Emporium Group Stocks 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.
Nanjing Central Emporium Group Stocks Co's current Net Income (TTM) was -402.
==> Negative ==> Score 0.
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.
Nanjing Central Emporium Group Stocks Co's current Cash Flow from Operations (TTM) was 329.
==> 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.
Nanjing Central Emporium Group Stocks Co's return on assets of this year was -0.03703499. Nanjing Central Emporium Group Stocks Co's return on assets of last year was -0.013036.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nanjing Central Emporium Group Stocks Co's gearing of this year was 0.06150211. Nanjing Central Emporium Group Stocks Co's gearing of last year was 0.08799276.
==> 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
Nanjing Central Emporium Group Stocks Co's current ratio of this year was 0.50720204. Nanjing Central Emporium Group Stocks Co's current ratio of last year was 0.53707262.
==> 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.
Nanjing Central Emporium Group Stocks Co's number of shares in issue this year was 1165.384. Nanjing Central Emporium Group Stocks Co's number of shares in issue last year was 941.435.
==> 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.
Nanjing Central Emporium Group Stocks Co's gross margin of this year was 0.55355758. Nanjing Central Emporium Group Stocks Co's gross margin of last year was 0.53015535.
==> 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
Nanjing Central Emporium Group Stocks Co's asset turnover of this year was 0.18483552. Nanjing Central Emporium Group Stocks Co's asset turnover of last year was 0.19791256.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Nanjing Central Emporium Group Stocks Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Nanjing Central Emporium Group Stocks Co (SHSE:600280) has a Piotroski F-Score of 4 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nanjing Central Emporium Group Stocks Co and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Nanjing Central Emporium Group Stocks Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Nanjing Central Emporium Group Stocks Co ranks #780 out of 1097 companies in the Retail - Cyclical industry, placing it in the top 71.1%.
Is Nanjing Central Emporium Group Stocks Co's Piotroski F-Score too high?
Nanjing Central Emporium Group Stocks Co's current Piotroski F-Score of 4 is 20% 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 8.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Nanjing Central Emporium Group Stocks Co's value of 4 is 20% below this industry median. Based on the distribution chart, Nanjing Central Emporium Group Stocks Co ranks #780 out of 1097 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Nanjing Central Emporium Group Stocks Co has a GF Score™ of 49/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nanjing Central Emporium Group Stocks Co's Piotroski F-Score compare to DDS?
According to the Retail - Cyclical industry distribution chart, Nanjing Central Emporium Group Stocks Co ranks #780 out of 1097 companies for Piotroski F-Score. This places Nanjing Central Emporium Group Stocks Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Nanjing Central Emporium Group Stocks Co's value of 4 is 20% below this benchmark. Historically, Nanjing Central Emporium Group Stocks 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 5.00, Nanjing Central Emporium Group Stocks Co 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 5.00, based on 1,097 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. Nanjing Central Emporium Group Stocks Co's current Piotroski F-Score of 4 is 20% 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 Nanjing Central Emporium Group Stocks Co and its competitors. For the Retail - Cyclical industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nanjing Central Emporium Group Stocks Co's current Piotroski F-Score is 4, which is 20% 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 Nanjing Central Emporium Group Stocks Co stock overvalued right now?
Based on GuruFocus' analysis, Nanjing Central Emporium Group Stocks Co (SHSE:600280) is currently considered Fairly Valued. The stock's GF Value™ is ¥2.82, compared to a current price of ¥2.73 — trading 3.2% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Retail - Cyclical industry median of 5.00. Nanjing Central Emporium Group Stocks Co's overall GF Score™ is 49/100 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 Nanjing Central Emporium Group Stocks Co (SHSE:600280), the current Piotroski F-Score is 4 as of Jul. 01, 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 Nanjing Central Emporium Group Stocks Co (SHSE:600280) Overvalued in 2026?
Based on GuruFocus' analysis, Nanjing Central Emporium Group Stocks Co stock appears to be undervalued.
The current stock price of ¥2.73 is trading 3.2% below its estimated GF Value™ of ¥2.82.
GuruFocus considers Nanjing Central Emporium Group Stocks Co to be Fairly Valued.
Key valuation signals for SHSE:600280:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: ¥2.82 vs. price of ¥2.73 (3.2% below fair value)
Industry Position: 20% below the Retail - Cyclical median (#780 of 1097)
No single metric tells the full story. See the SHSE:600280 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nanjing Central Emporium Group Stocks Co Business Description
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