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Ningbo Yongxin Optics Co (SHSE:603297) 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.
Ningbo Yongxin Optics Co Piotroski F-Score Related Terms
Ningbo Yongxin Optics 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.
SHSE:603297 vs COHR, KEYS, GRMN: Piotroski F-Score Comparison
For the Scientific & Technical Instruments subindustry, Ningbo Yongxin Optics 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.
Ningbo Yongxin Optics Co Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Ningbo Yongxin Optics Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ningbo Yongxin Optics 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.
Ningbo Yongxin Optics Co's current Net Income (TTM) was 210.
==> 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.
Ningbo Yongxin Optics Co's current Cash Flow from Operations (TTM) was 185.
==> 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.
Ningbo Yongxin Optics Co's return on assets of this year was 0.09078929. Ningbo Yongxin Optics Co's return on assets of last year was 0.10396565.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Ningbo Yongxin Optics Co's gearing of this year was 0. Ningbo Yongxin Optics Co's gearing of last year was 3.805E-5.
==> 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
Ningbo Yongxin Optics Co's current ratio of this year was 3.52882861. Ningbo Yongxin Optics Co's current ratio of last year was 5.55187616.
==> 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.
Ningbo Yongxin Optics Co's number of shares in issue this year was 109.849. Ningbo Yongxin Optics Co's number of shares in issue last year was 111.308.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
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.
Ningbo Yongxin Optics Co's gross margin of this year was 0.38427784. Ningbo Yongxin Optics Co's gross margin of last year was 0.39627302.
==> 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
Ningbo Yongxin Optics Co's asset turnover of this year was 0.43575374. Ningbo Yongxin Optics Co's asset turnover of last year was 0.42578823.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ningbo Yongxin Optics Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Ningbo Yongxin Optics Co (SHSE:603297) has a Piotroski F-Score of 5 as of Aug. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ningbo Yongxin Optics Co and its competitors. This is near median its historical median of 5.00. Over the past decade, Ningbo Yongxin Optics Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Ningbo Yongxin Optics Co ranks #963 out of 2419 companies in the Hardware industry, placing it in the top 39.8%.
Is Ningbo Yongxin Optics Co's Piotroski F-Score too high?
Ningbo Yongxin Optics Co's current Piotroski F-Score of 5 is near 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 Hardware industry median Piotroski F-Score is 5.00. Ningbo Yongxin Optics Co's value of 5 is 0% at this industry median. Based on the distribution chart, Ningbo Yongxin Optics Co ranks #963 out of 2419 companies in the Hardware industry, which is above the industry midpoint. Overall, Ningbo Yongxin Optics Co has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ningbo Yongxin Optics Co's Piotroski F-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, Ningbo Yongxin Optics Co ranks #963 out of 2419 companies for Piotroski F-Score. This puts Ningbo Yongxin Optics Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Ningbo Yongxin Optics Co's value of 5 is 0% at this benchmark. Historically, Ningbo Yongxin Optics 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, Ningbo Yongxin Optics Co has consistently been at 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,419 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. Ningbo Yongxin Optics Co's current Piotroski F-Score of 5 is 0% at 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 Ningbo Yongxin Optics Co and its competitors. For the Hardware 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. Ningbo Yongxin Optics Co's current Piotroski F-Score is 5, which is near 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 Ningbo Yongxin Optics Co stock overvalued right now?
Based on GuruFocus' analysis, Ningbo Yongxin Optics Co (SHSE:603297) is currently considered Fairly Valued. The stock's GF Value™ is ¥106.09, compared to a current price of ¥105.16 — trading 0.9% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Hardware industry median of 5.00. Ningbo Yongxin Optics Co's overall GF Score™ is 95/100 with 4 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 Ningbo Yongxin Optics Co (SHSE:603297), the current Piotroski F-Score is 5 as of Aug. 09, 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 Ningbo Yongxin Optics Co (SHSE:603297) Overvalued in 2026?
Based on GuruFocus' analysis, Ningbo Yongxin Optics Co stock appears to be undervalued.
The current stock price of ¥105.16 is trading 0.9% below its estimated GF Value™ of ¥106.09.
GuruFocus considers Ningbo Yongxin Optics Co to be Fairly Valued.
Key valuation signals for SHSE:603297:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: ¥106.09 vs. price of ¥105.16 (0.9% below fair value)
Industry Position: 0% at the Hardware median (#963 of 2419)
No single metric tells the full story. See the SHSE:603297 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ningbo Yongxin Optics Co Ltd is a Chinese microscope manufacturer. It is engaged in manufacturing and selling biological microscopes and industrial microscopes, strips Code scanner lens, planar optics, and professional imaging optics components under the brands NOVEL, JIANGNAN, and INOVO. The company exports its products throughout Europe, America, Japan, Singapore, and other countries and regions.
95GF Score
Get the complete analysis for SHSE:603297
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