GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Raytron Technology Co Ltd (SHSE:688002) » Definitions » Piotroski F-Score

Raytron Technology Co (SHSE:688002) Piotroski F-Score : 5 (As of Apr. 25, 2025)


View and export this data going back to 2019. Start your Free Trial

What is Raytron Technology 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

Raytron Technology Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Raytron Technology Co's Piotroski F-Score or its related term are showing as below:

SHSE:688002' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 6
Current: 5

During the past 9 years, the highest Piotroski F-Score of Raytron Technology Co was 6. The lowest was 2. And the median was 5.


Raytron Technology Co Piotroski F-Score Historical Data

The historical data trend for Raytron Technology 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.

Raytron Technology Co Piotroski F-Score Chart

Raytron Technology Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 2.00 4.00 6.00 5.00

Raytron Technology Co Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 6.00 6.00 5.00

Competitive Comparison of Raytron Technology Co's Piotroski F-Score

For the Electronic Components subindustry, Raytron Technology 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.


Raytron Technology Co's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Raytron Technology Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Raytron Technology 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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 128.567 + 95.772 + 259.056 + 85.566 = ¥569 Mil.
Cash Flow from Operations was 161.086 + -86.775 + 107.411 + 267.911 = ¥450 Mil.
Revenue was 1006.867 + 1014.843 + 1128.136 + 1165.85 = ¥4,316 Mil.
Gross Profit was 469.625 + 530.33 + 610.467 + 558.434 = ¥2,169 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(8297.071 + 8681.835 + 8739.107 + 8744.524 + 8806.197) / 5 = ¥8653.7468 Mil.
Total Assets at the begining of this year (Dec23) was ¥8,297 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,349 Mil.
Total Current Assets was ¥4,783 Mil.
Total Current Liabilities was ¥1,682 Mil.
Net Income was 81.597 + 175.995 + 129.3 + 108.876 = ¥496 Mil.

Revenue was 789.898 + 994.175 + 878.186 + 896.337 = ¥3,559 Mil.
Gross Profit was 367.453 + 520.845 + 436.93 + 415.269 = ¥1,740 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(6327.658 + 8048.936 + 8266.885 + 8459.166 + 8297.071) / 5 = ¥7879.9432 Mil.
Total Assets at the begining of last year (Dec22) was ¥6,328 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,363 Mil.
Total Current Assets was ¥4,510 Mil.
Total Current Liabilities was ¥1,565 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.

Raytron Technology Co's current Net Income (TTM) was 569. ==> 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.

Raytron Technology Co's current Cash Flow from Operations (TTM) was 450. ==> 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 (Dec23)
=568.961/8297.071
=0.06857372

ROA (Last Year)=Net Income/Total Assets (Dec22)
=495.768/6327.658
=0.07834937

Raytron Technology Co's return on assets of this year was 0.06857372. Raytron Technology Co's return on assets of last year was 0.07834937. ==> 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.

Raytron Technology Co's current Net Income (TTM) was 569. Raytron Technology Co's current Cash Flow from Operations (TTM) was 450. ==> 450 <= 569 ==> CFROA <= ROA ==> Score 0.

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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=1349.075/8653.7468
=0.1558949

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1362.851/7879.9432
=0.17295188

Raytron Technology Co's gearing of this year was 0.1558949. Raytron Technology Co's gearing of last year was 0.17295188. ==> 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: Dec24)=Total Current Assets/Total Current Liabilities
=4782.534/1681.865
=2.84358971

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=4510.04/1564.881
=2.88203384

Raytron Technology Co's current ratio of this year was 2.84358971. Raytron Technology Co's current ratio of last year was 2.88203384. ==> 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.

Raytron Technology Co's number of shares in issue this year was 447.557. Raytron Technology Co's number of shares in issue last year was 454.42. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2168.856/4315.696
=0.50255069

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1740.497/3558.596
=0.48909654

Raytron Technology Co's gross margin of this year was 0.50255069. Raytron Technology Co's gross margin of last year was 0.48909654. ==> 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 (Dec23)
=4315.696/8297.071
=0.52014693

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=3558.596/6327.658
=0.56238754

Raytron Technology Co's asset turnover of this year was 0.52014693. Raytron Technology Co's asset turnover of last year was 0.56238754. ==> 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+0+1+0+1+1+0
=5

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

Raytron Technology Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Raytron Technology Co  (SHSE:688002) 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.


Raytron Technology Co Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Raytron Technology Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Raytron Technology Co Business Description

Traded in Other Exchanges
N/A
Address
No. 11, Guiyang Street, Yantai Development Zone, Shandong Province, Yantai, CHN, 264006
Raytron Technology Co Ltd is engaged in the research and development, production and sales of infrared MEMS chips, detectors, movements and complete machines.
Executives
Wang Hong Chen Directors, senior managers, core technical personn
Chen Wen Li Senior management, core technical personnel
Ma Hong Directors, senior managers, core technical personnel
Huang Yan senior management
Li Wei Cheng Director
Jiang Bin Directors, senior managers
Zhao Fang Yan Directors, senior managers
Wei Hui Juan Supervisors
Sun Rui Shan Supervisors
Chen Wen Xiang Supervisors

Raytron Technology Co Headlines

No Headlines