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The Southern Rubber Industry JSC (STC:CSM) 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.
The Southern Rubber Industry JSC Piotroski F-Score Related Terms
The Southern Rubber Industry JSC 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.
The Southern Rubber Industry JSC Piotroski F-Score Chart
STC:CSM vs ORLY, AZO, GPC: Piotroski F-Score Comparison
For the Auto Parts subindustry, The Southern Rubber Industry JSC'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.
The Southern Rubber Industry JSC Piotroski F-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, The Southern Rubber Industry JSC's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where The Southern Rubber Industry JSC'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 26602.496 + -13169.678 + 26021.368 + 22912.272 = ₫62,366 Mil. Cash Flow from Operations was -247670.507 + 316079.485 + -182601.534 + -151731.657 = ₫-265,924 Mil. Revenue was 1027735.841 + 931223.03 + 1105281.531 + 1148202.585 = ₫4,212,443 Mil. Gross Profit was 130556.666 + 123516.488 + 143131.45 + 175240.313 = ₫572,445 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3356897.691 + 3850455.435 + 3822349.117 + 3696469.362 + 3760967.715) / 5 = ₫3697427.864 Mil. Total Assets at the begining of this year (Jun25) was ₫3,356,898 Mil. Long-Term Debt & Capital Lease Obligation was ₫116,839 Mil. Total Current Assets was ₫2,906,683 Mil. Total Current Liabilities was ₫2,222,991 Mil.
Net Income was 22710.95 + 8564.951 + 19431.027 + 21676.61 = ₫72,384 Mil.
Revenue was 1107492.003 + 1192415.255 + 1021279.199 + 1105999.266 = ₫4,427,186 Mil. Gross Profit was 140734.217 + 137267.903 + 120629.806 + 151353.174 = ₫549,985 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3885230.924 + 3995934.036 + 3815256.503 + 3297571.805 + 3356897.691) / 5 = ₫3670178.1918 Mil. Total Assets at the begining of last year (Jun24) was ₫3,885,231 Mil. Long-Term Debt & Capital Lease Obligation was ₫45,877 Mil. Total Current Assets was ₫2,530,303 Mil. Total Current Liabilities was ₫1,930,503 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.
The Southern Rubber Industry JSC's current Net Income (TTM) was 62,366.
==> 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.
The Southern Rubber Industry JSC's current Cash Flow from Operations (TTM) was -265,924.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
The Southern Rubber Industry JSC's return on assets of this year was 0.0185786. The Southern Rubber Industry JSC's return on assets of last year was 0.01863043.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
The Southern Rubber Industry JSC's gearing of this year was 0.03159999. The Southern Rubber Industry JSC's gearing of last year was 0.01249986.
==> Last year is lower than this year ==> Score 0.
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
The Southern Rubber Industry JSC's current ratio of this year was 1.30755497. The Southern Rubber Industry JSC's current ratio of last year was 1.31069633.
==> 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.
The Southern Rubber Industry JSC's number of shares in issue this year was 103.625. The Southern Rubber Industry JSC's number of shares in issue last year was 103.625.
==> 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.
The Southern Rubber Industry JSC's gross margin of this year was 0.13589381. The Southern Rubber Industry JSC's gross margin of last year was 0.12422906.
==> 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
The Southern Rubber Industry JSC's asset turnover of this year was 1.25486189. The Southern Rubber Industry JSC's asset turnover of last year was 1.13949101.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
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Que. 4
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1
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0
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
The Southern Rubber Industry JSC has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The Southern Rubber Industry JSC (STC:CSM) has a Piotroski F-Score of 4 as of Aug. 10, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on The Southern Rubber Industry JSC and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, The Southern Rubber Industry JSC's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, The Southern Rubber Industry JSC ranks #902 out of 1278 companies in the Vehicles & Parts industry, placing it in the top 70.6%.
Is The Southern Rubber Industry JSC's Piotroski F-Score too high?
The Southern Rubber Industry JSC's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Vehicles & Parts industry median Piotroski F-Score is 5.00. The Southern Rubber Industry JSC's value of 4 is 20% below this industry median. Based on the distribution chart, The Southern Rubber Industry JSC ranks #902 out of 1278 companies in the Vehicles & Parts industry, which is below the industry midpoint. Overall, The Southern Rubber Industry JSC has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The Southern Rubber Industry JSC's Piotroski F-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, The Southern Rubber Industry JSC ranks #902 out of 1278 companies for Piotroski F-Score. This places The Southern Rubber Industry JSC in the lower half of its industry. The industry median Piotroski F-Score is 5.00. The Southern Rubber Industry JSC's value of 4 is 20% below this benchmark. Historically, The Southern Rubber Industry JSC's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, The Southern Rubber Industry JSC 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 Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 5.00, based on 1,278 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. The Southern Rubber Industry JSC'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 The Southern Rubber Industry JSC and its competitors. For the Vehicles & Parts 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. The Southern Rubber Industry JSC's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Southern Rubber Industry JSC stock overvalued right now?
Based on GuruFocus' analysis, The Southern Rubber Industry JSC (STC:CSM) is currently considered Modestly Overvalued. The stock's GF Value™ is ₫12,047.15, compared to a current price of ₫14,600.00 — trading 21.2% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Vehicles & Parts industry median of 5.00. The Southern Rubber Industry JSC's overall GF Score™ is 61/100 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 The Southern Rubber Industry JSC (STC:CSM), the current Piotroski F-Score is 4 as of Aug. 10, 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 The Southern Rubber Industry JSC (STC:CSM) Overvalued in 2026?
Based on GuruFocus' analysis, The Southern Rubber Industry JSC stock appears to be overvalued.
The current stock price of ₫14,600.00 is trading 21.2% above its estimated GF Value™ of ₫12,047.15.
GuruFocus considers The Southern Rubber Industry JSC to be Modestly Overvalued.
Key valuation signals for STC:CSM:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: ₫12,047.15 vs. price of ₫14,600.00 (21.2% above fair value)
Industry Position: 20% below the Vehicles & Parts median (#902 of 1278)
No single metric tells the full story. See the STC:CSM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Southern Rubber Industry JSC is a Vietnam-based manufacturer and seller of tires and tubes. The company offers trucks and light trucks tires and tubes, motorcycle tires and tubes, passenger car radial tires, bicycle tires and tubes, industrial tires and tubes, electric vehicle tires and tubes, specific tires and tubes, and other products. The organization has a business presence in Vietnam and other countries.
61GF Score
Get the complete analysis for STC:CSM
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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