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Freewon China CoSHSE:688678 -1.38%96 Piotroski F-Score is 8 as of Sep. 15, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates SHSE:688678 with a GF Score™ of 96/100 and a GF Value™ of ¥24.89 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 3,012 Industrial Products companies, Freewon China Co ranks better than 97.81% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Freewon China Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Freewon China Co's Piotroski F-Score or its related term are showing as below:
SHSE:688678'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 8
During the past 9 years, the highest Piotroski F-Score of Freewon China Co was 8. The lowest was 1. And the median was 5.
Freewon China Co (SHSE:688678) 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.
Freewon China Co Piotroski F-Score Related Terms
Freewon China Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Freewon China 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.
SHSE:688678 vs SNA, RBC, LECO: Piotroski F-Score Comparison
For the Tools & Accessories subindustry, Freewon China 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.
Freewon China Co Piotroski F-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Freewon China Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Freewon China 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 51.62739978 + 21.3219001 + 45.52226888 + 23.04280205 = ¥142 Mil. Cash Flow from Operations was -121.13535345 + 25.96410958 + 179.0490732 + 36.52625006 = ¥120 Mil. Revenue was 670.14878593 + 596.98017292 + 540.30790322 + 624.08536349 = ¥2,432 Mil. Gross Profit was 145.99170455 + 142.44855993 + 143.466909905 + 142.927841235 = ¥575 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3846.03983089 + 4171.07546054 + 4271.36650671 + 4326.28393946 + 4323.56288577) / 5 = ¥4187.66572467 Mil. Total Assets at the begining of this year (Jun25) was ¥3,846 Mil. Long-Term Debt & Capital Lease Obligation was ¥249 Mil. Total Current Assets was ¥2,002 Mil. Total Current Liabilities was ¥1,503 Mil.
Net Income was 19.35540193 + -10.6328991 + 14.09220478 + -31.82983333 = ¥-9 Mil.
Revenue was 346.35828138 + 385.60794101 + 338.48288088 + 366.57575074 = ¥1,437 Mil. Gross Profit was 75.536081295 + 54.952422665 + 68.98412421 + 47.7222095 = ¥247 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3426.87067178 + 3511.44143003 + 3574.07052171 + 3673.63955584 + 3846.03983089) / 5 = ¥3606.41240205 Mil. Total Assets at the begining of last year (Jun24) was ¥3,427 Mil. Long-Term Debt & Capital Lease Obligation was ¥439 Mil. Total Current Assets was ¥1,669 Mil. Total Current Liabilities was ¥1,374 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.
Freewon China Co's current Net Income (TTM) was 142.
==> 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.
Freewon China Co's return on assets of this year was 0.03679483. Freewon China Co's return on assets of last year was -0.00263072.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Freewon China Co's gearing of this year was 0.05942553. Freewon China Co's gearing of last year was 0.12166568.
==> 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
Freewon China Co's current ratio of this year was 1.33215289. Freewon China Co's current ratio of last year was 1.21485111.
==> 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.
Freewon China Co's number of shares in issue this year was 403.107. Freewon China Co's number of shares in issue last year was 362.977.
==> 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.
Freewon China Co's gross margin of this year was 0.23640953. Freewon China Co's gross margin of last year was 0.17201848.
==> 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
Freewon China Co's asset turnover of this year was 0.63221452. Freewon China Co's asset turnover of last year was 0.41934026.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Freewon China Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Freewon China Co (SHSE:688678) has a Piotroski F-Score of 8 as of Sep. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Freewon China Co and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Freewon China Co's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Freewon China Co ranks #66 out of 3012 companies in the Industrial Products industry, placing it in the top 2.2%.
Is Freewon China Co's Piotroski F-Score too high?
Freewon China Co's current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Industrial Products industry median Piotroski F-Score is 5.00. Freewon China Co's value of 8 is 60% above this industry median. Based on the distribution chart, Freewon China Co ranks #66 out of 3012 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Freewon China Co has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Freewon China Co's Piotroski F-Score compare to SNA and RBC?
According to the Industrial Products industry distribution chart, Freewon China Co ranks #66 out of 3012 companies for Piotroski F-Score. This places Freewon China Co in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Freewon China Co's value of 8 is 60% above this benchmark. Historically, Freewon China Co's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Freewon China Co has consistently been above 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 an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 3,012 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. Freewon China Co's current Piotroski F-Score of 8 is 60% above 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 Freewon China Co and its competitors. For the Industrial Products 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. Freewon China Co's current Piotroski F-Score is 8, which is 60% above 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 Freewon China Co stock overvalued right now?
Based on GuruFocus' analysis, Freewon China Co (SHSE:688678) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥24.89, compared to a current price of ¥21.38 — trading 14.1% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 60% above the Industrial Products industry median of 5.00. Freewon China Co's overall GF Score™ is 96/100 with 7 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 Freewon China Co (SHSE:688678), the current Piotroski F-Score is 8 as of Sep. 15, 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 Freewon China Co (SHSE:688678) Overvalued in 2026?
Based on GuruFocus' analysis, Freewon China Co stock appears to be undervalued.
The current stock price of ¥21.38 is trading 14.1% below its estimated GF Value™ of ¥24.89.
GuruFocus considers Freewon China Co to be Modestly Undervalued.
Key valuation signals for SHSE:688678:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: ¥24.89 vs. price of ¥21.38 (14.1% below fair value)
Industry Position: 60% above the Industrial Products median (#66 of 3012)
No single metric tells the full story. See the SHSE:688678 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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