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Shandong Sinocera Functional Material Co (SZSE:300285) Piotroski F-Score : 7 (As of Dec. 14, 2024)


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What is Shandong Sinocera Functional Material Co Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, 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

Shandong Sinocera Functional Material 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 Shandong Sinocera Functional Material Co's Piotroski F-Score or its related term are showing as below:

SZSE:300285' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Shandong Sinocera Functional Material Co was 8. The lowest was 2. And the median was 5.


Shandong Sinocera Functional Material Co Piotroski F-Score Historical Data

The historical data trend for Shandong Sinocera Functional Material 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.

Shandong Sinocera Functional Material Co Piotroski F-Score Chart

Shandong Sinocera Functional Material 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 8.00 3.00 3.00 7.00

Shandong Sinocera Functional Material 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 3.00 7.00 7.00 6.00 7.00

Competitive Comparison of Shandong Sinocera Functional Material Co's Piotroski F-Score

For the Specialty Chemicals subindustry, Shandong Sinocera Functional Material 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.


Shandong Sinocera Functional Material Co's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Shandong Sinocera Functional Material Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Shandong Sinocera Functional Material 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 128.272 + 133.363 + 197.074 + 151.797 = ¥611 Mil.
Cash Flow from Operations was 330.384 + 33.768 + 120.391 + 202.949 = ¥687 Mil.
Revenue was 1072.031 + 826.664 + 1126.746 + 1012.814 = ¥4,038 Mil.
Gross Profit was 463.31 + 320.889 + 458.304 + 396.815 = ¥1,639 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(8555.582 + 8779.637 + 8929.14 + 9001.176 + 9219.559) / 5 = ¥8897.0188 Mil.
Total Assets at the begining of this year (Sep23) was ¥8,556 Mil.
Long-Term Debt & Capital Lease Obligation was ¥433 Mil.
Total Current Assets was ¥3,842 Mil.
Total Current Liabilities was ¥1,544 Mil.
Net Income was 40.03 + 123.491 + 195.459 + 121.913 = ¥481 Mil.

Revenue was 723.878 + 785.594 + 1064.774 + 936.824 = ¥3,511 Mil.
Gross Profit was 214.437 + 293.049 + 400.788 + 334.521 = ¥1,243 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(7676.154 + 7501.777 + 7973.811 + 8356.062 + 8555.582) / 5 = ¥8012.6772 Mil.
Total Assets at the begining of last year (Sep22) was ¥7,676 Mil.
Long-Term Debt & Capital Lease Obligation was ¥229 Mil.
Total Current Assets was ¥3,657 Mil.
Total Current Liabilities was ¥1,281 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.

Shandong Sinocera Functional Material Co's current Net Income (TTM) was 611. ==> 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.

Shandong Sinocera Functional Material Co's current Cash Flow from Operations (TTM) was 687. ==> 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)
=610.506/8555.582
=0.07135762

ROA (Last Year)=Net Income/Total Assets (Sep22)
=480.893/7676.154
=0.06264765

Shandong Sinocera Functional Material Co's return on assets of this year was 0.07135762. Shandong Sinocera Functional Material Co's return on assets of last year was 0.06264765. ==> This year is higher. ==> Score 1.

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.

Shandong Sinocera Functional Material Co's current Net Income (TTM) was 611. Shandong Sinocera Functional Material Co's current Cash Flow from Operations (TTM) was 687. ==> 687 > 611 ==> 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
=432.749/8897.0188
=0.04863978

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=229.223/8012.6772
=0.02860754

Shandong Sinocera Functional Material Co's gearing of this year was 0.04863978. Shandong Sinocera Functional Material Co's gearing of last year was 0.02860754. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=3842.268/1544.194
=2.48820291

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=3657.26/1281.477
=2.85394119

Shandong Sinocera Functional Material Co's current ratio of this year was 2.48820291. Shandong Sinocera Functional Material Co's current ratio of last year was 2.85394119. ==> 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.

Shandong Sinocera Functional Material Co's number of shares in issue this year was 1011.315. Shandong Sinocera Functional Material Co's number of shares in issue last year was 1012.447. ==> 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
=1639.318/4038.255
=0.40594712

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1242.795/3511.07
=0.35396475

Shandong Sinocera Functional Material Co's gross margin of this year was 0.40594712. Shandong Sinocera Functional Material Co's gross margin of last year was 0.35396475. ==> 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)
=4038.255/8555.582
=0.47200237

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=3511.07/7676.154
=0.45739963

Shandong Sinocera Functional Material Co's asset turnover of this year was 0.47200237. Shandong Sinocera Functional Material Co's asset turnover of last year was 0.45739963. ==> 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
=1+1+1+1+0+0+1+1+1
=7

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

Shandong Sinocera Functional Material Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Shandong Sinocera Functional Material Co  (SZSE:300285) 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.


Shandong Sinocera Functional Material Co Piotroski F-Score Related Terms

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Shandong Sinocera Functional Material Co Business Description

Traded in Other Exchanges
N/A
Address
No. 24 Liaohe Road, Dongying District, Shandong Province, Dongying, CHN, 257091
Shandong Sinocera Functional Material Co Ltd is mainly engaged in the research and development, production and sales of novel materials. The main products include multilayer ceramic capacitors, electronic ceramic materials, nano-scale composite zirconia materials, high-purity ultra-fine alumina materials, ceramic ink materials for inkjet printing, electronic pastes, honeycomb ceramics, and ceramic balls. Its products are mainly applied in an electronic information and communication, biomedical, new energy vehicles, architectural ceramics and modern high-tech fields such as porcelain, automotive and industrial catalysis, solar photovoltaic, and aerospace.
Executives
Zhang Xi Director
Zhang Bing Directors, executives
Wang Zhong Supervisors
Wang Xiao Hong Supervisors
Xu Shao Mei Directors, executives
Zhao Hong Yan Securities Affairs Representative
Liu Mei Na Director
Song Xi Bin Executives
Si Liu Qi Executives

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