GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Ganfeng Lithium Group Co Ltd (SZSE:002460) » Definitions » Piotroski F-Score

Ganfeng Lithium Group Co (SZSE:002460) Piotroski F-Score

: 3 (As of Today)
View and export this data going back to 2010. Start your Free Trial

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Ganfeng Lithium Group Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

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

SZSE:002460' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Ganfeng Lithium Group Co was 8. The lowest was 3. And the median was 5.


Ganfeng Lithium Group Co Piotroski F-Score Historical Data

The historical data trend for Ganfeng Lithium Group 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.

Ganfeng Lithium Group Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 4.00 6.00 5.00 3.00

Ganfeng Lithium Group Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 3.00 3.00 3.00

Competitive Comparison

For the Chemicals subindustry, Ganfeng Lithium Group 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.


Ganfeng Lithium Group Co Piotroski F-Score Distribution

For the Chemicals industry and Basic Materials sector, Ganfeng Lithium Group Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ganfeng Lithium Group 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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 2396.601 + 3453.586 + 159.66 + -1063.038 = ¥4,947 Mil.
Cash Flow from Operations was -3169.083 + 477.926 + 1322.057 + 1515.581 = ¥146 Mil.
Revenue was 9438.23 + 8707.007 + 7536.725 + 7289.719 = ¥32,972 Mil.
Gross Profit was 3523.215 + 578.152 + 372.135 + 101.311 = ¥4,575 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(79159.91 + 80933.408 + 89471.479 + 92862.319 + 91697.901) / 5 = ¥86825.0034 Mil.
Total Assets at the begining of this year (Dec22) was ¥79,160 Mil.
Long-Term Debt & Capital Lease Obligation was ¥15,629 Mil.
Total Current Assets was ¥28,184 Mil.
Total Current Liabilities was ¥20,271 Mil.
Net Income was 3525.083 + 3728.436 + 7541.322 + 5708.727 = ¥20,504 Mil.

Revenue was 5365.267 + 9078.342 + 13168.047 + 14210.853 = ¥41,823 Mil.
Gross Profit was 3576.034 + 5166.719 + 6696.635 + 5262.662 = ¥20,702 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(39056.653 + 44921.545 + 54774.355 + 69587.349 + 79159.91) / 5 = ¥57499.9624 Mil.
Total Assets at the begining of last year (Dec21) was ¥39,057 Mil.
Long-Term Debt & Capital Lease Obligation was ¥9,163 Mil.
Total Current Assets was ¥31,966 Mil.
Total Current Liabilities was ¥18,655 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.

Ganfeng Lithium Group Co's current Net Income (TTM) was 4,947. ==> 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.

Ganfeng Lithium Group Co's current Cash Flow from Operations (TTM) was 146. ==> 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 (Dec22)
=4946.809/79159.91
=0.06249134

ROA (Last Year)=Net Income/Total Assets (Dec21)
=20503.568/39056.653
=0.52496992

Ganfeng Lithium Group Co's return on assets of this year was 0.06249134. Ganfeng Lithium Group Co's return on assets of last year was 0.52496992. ==> 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.

Ganfeng Lithium Group Co's current Net Income (TTM) was 4,947. Ganfeng Lithium Group Co's current Cash Flow from Operations (TTM) was 146. ==> 146 <= 4,947 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=15628.88/86825.0034
=0.18000437

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=9163.317/57499.9624
=0.15936214

Ganfeng Lithium Group Co's gearing of this year was 0.18000437. Ganfeng Lithium Group Co's gearing of last year was 0.15936214. ==> 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

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=28184.397/20271.298
=1.39035976

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=31966.036/18654.925
=1.71354406

Ganfeng Lithium Group Co's current ratio of this year was 1.39035976. Ganfeng Lithium Group Co's current ratio of last year was 1.71354406. ==> 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.

Ganfeng Lithium Group Co's number of shares in issue this year was 1993.411. Ganfeng Lithium Group Co's number of shares in issue last year was 2017.701. ==> 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
=4574.813/32971.681
=0.13874977

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=20702.05/41822.509
=0.4949978

Ganfeng Lithium Group Co's gross margin of this year was 0.13874977. Ganfeng Lithium Group Co's gross margin of last year was 0.4949978. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=32971.681/79159.91
=0.41651994

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=41822.509/39056.653
=1.07081651

Ganfeng Lithium Group Co's asset turnover of this year was 0.41651994. Ganfeng Lithium Group Co's asset turnover of last year was 1.07081651. ==> 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+0+0+1+0+0
=3

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

Ganfeng Lithium Group Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Ganfeng Lithium Group Co  (SZSE:002460) 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.


Ganfeng Lithium Group Co Piotroski F-Score Related Terms

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


Ganfeng Lithium Group Co (SZSE:002460) Business Description

Traded in Other Exchanges
Address
248 Queen’s Road East, 40th Floor, Dah Sing Financial Centre, Wanchai, Hong Kong, HKG
Founded in 2000, Ganfeng is the world's third largest and China's largest lithium compounds producer and the world's largest lithium metals producer in terms of production capacity. The company offers five major categories of more than 40 lithium compounds and metals products, which is one of the most comprehensive product offerings among the suppliers globally. Starting as a midstream manufacturer of lithium compounds and lithium metals, Ganfeng has successfully expanded into a vertically integrated business model with operations along the critical stages of the industry value chain, including upstream lithium extraction, midstream lithium compounds and metals processing, and downstream lithium battery production and recycling.

Ganfeng Lithium Group Co (SZSE:002460) Headlines

No Headlines