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Healthcare Co (SHSE:603313) Piotroski F-Score : 6 (As of Dec. 15, 2024)


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What is Healthcare 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

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

SHSE:603313' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Healthcare Co was 8. The lowest was 1. And the median was 6.


Healthcare Co Piotroski F-Score Historical Data

The historical data trend for Healthcare 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.

Healthcare Co Piotroski F-Score Chart

Healthcare 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 5.00 6.00 3.00 7.00 8.00

Healthcare 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 7.00 8.00 8.00 8.00 6.00

Competitive Comparison of Healthcare Co's Piotroski F-Score

For the Furnishings, Fixtures & Appliances subindustry, Healthcare 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.


Healthcare Co's Piotroski F-Score Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Healthcare Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Healthcare 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 -6.33 + 19.823 + 32.769 + -205.575 = ¥-159 Mil.
Cash Flow from Operations was 108.914 + 132.075 + 79.908 + 293.676 = ¥615 Mil.
Revenue was 2260.455 + 1818.968 + 2127.711 + 2179.02 = ¥8,386 Mil.
Gross Profit was 971.661 + 700.751 + 803.921 + 775.994 = ¥3,252 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(9709.026 + 10065.654 + 9887.214 + 10089.919 + 9930.305) / 5 = ¥9936.4236 Mil.
Total Assets at the begining of this year (Sep23) was ¥9,709 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,489 Mil.
Total Current Assets was ¥4,574 Mil.
Total Current Liabilities was ¥4,430 Mil.
Net Income was -57.392 + 16.773 + 80.843 + 15.315 = ¥56 Mil.

Revenue was 1949.308 + 1698.777 + 1901.855 + 2114.829 = ¥7,665 Mil.
Gross Profit was 689.783 + 611.607 + 686.373 + 789.44 = ¥2,777 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(9411.692 + 9075.677 + 9186.259 + 9550.696 + 9709.026) / 5 = ¥9386.67 Mil.
Total Assets at the begining of last year (Sep22) was ¥9,412 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,549 Mil.
Total Current Assets was ¥4,021 Mil.
Total Current Liabilities was ¥4,321 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.

Healthcare Co's current Net Income (TTM) was -159. ==> 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.

Healthcare Co's current Cash Flow from Operations (TTM) was 615. ==> 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)
=-159.313/9709.026
=-0.01640875

ROA (Last Year)=Net Income/Total Assets (Sep22)
=55.539/9411.692
=0.00590106

Healthcare Co's return on assets of this year was -0.01640875. Healthcare Co's return on assets of last year was 0.00590106. ==> 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.

Healthcare Co's current Net Income (TTM) was -159. Healthcare Co's current Cash Flow from Operations (TTM) was 615. ==> 615 > -159 ==> 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
=1489.279/9936.4236
=0.14988079

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1549.095/9386.67
=0.16503137

Healthcare Co's gearing of this year was 0.14988079. Healthcare Co's gearing of last year was 0.16503137. ==> 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
=4574.061/4430.407
=1.03242456

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=4020.614/4320.609
=0.9305665

Healthcare Co's current ratio of this year was 1.03242456. Healthcare Co's current ratio of last year was 0.9305665. ==> 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.

Healthcare Co's number of shares in issue this year was 531.097. Healthcare Co's number of shares in issue last year was 496.848. ==> 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
=3252.327/8386.154
=0.38782104

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2777.203/7664.769
=0.36233355

Healthcare Co's gross margin of this year was 0.38782104. Healthcare Co's gross margin of last year was 0.36233355. ==> 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 (Sep23)
=8386.154/9709.026
=0.86374823

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=7664.769/9411.692
=0.814388

Healthcare Co's asset turnover of this year was 0.86374823. Healthcare Co's asset turnover of last year was 0.814388. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+1+0+1+1
=6

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

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

Healthcare Co  (SHSE:603313) 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.


Healthcare Co Piotroski F-Score Related Terms

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Healthcare Co Business Description

Traded in Other Exchanges
N/A
Address
No. 999, South Road, Dingshu Town, Jiangsu Province, RuGao, CHN, 226521
Healthcare Co Ltd operates in the home furnishing industry. The company is mainly engaged in the design, manufacture and distribution of mattresses. Its other product offering includes a thin pad, pillow, sofa and other similar household products. The company's products are sold under the MLILY brand.
Executives
Ni Zhang Gen Director
Cui Hui Ming senior management
Wang Zhen senior management
Fu Dong Qing senior management
Zhang Hong Jian Directors, senior managers
Wu Xiao Hong Directors, senior managers
Ji Jian Long Director
Liu Tao senior management

Healthcare Co Headlines

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