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Caina Technology Co (SZSE:301122) Piotroski F-Score : 7 (As of Dec. 14, 2024)


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What is Caina Technology 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

Caina Technology 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 Caina Technology Co's Piotroski F-Score or its related term are showing as below:

SZSE:301122' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 7

During the past 7 years, the highest Piotroski F-Score of Caina Technology Co was 7. The lowest was 2. And the median was 5.


Caina Technology Co Piotroski F-Score Historical Data

The historical data trend for Caina 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.

Caina Technology Co Piotroski F-Score Chart

Caina Technology Co Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 6.00 5.00 2.00

Caina Technology Co Quarterly Data
Dec18 Dec19 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 5.00 2.00 4.00 6.00 7.00

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

For the Medical Instruments & Supplies subindustry, Caina 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.


Caina Technology Co's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Caina Technology Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Caina 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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 19.869 + 25.045 + 8.153 + 24.253 = ¥77.3 Mil.
Cash Flow from Operations was -6.213 + 41.79 + 13.162 + 30.326 = ¥79.1 Mil.
Revenue was 116.883 + 110.633 + 83.795 + 97.688 = ¥409.0 Mil.
Gross Profit was 44.702 + 43.946 + 32.225 + 38.583 = ¥159.5 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(1906.52 + 1929.096 + 1943.63 + 1899.572 + 1911.509) / 5 = ¥1918.0654 Mil.
Total Assets at the begining of this year (Sep23) was ¥1,906.5 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.1 Mil.
Total Current Assets was ¥1,148.4 Mil.
Total Current Liabilities was ¥86.7 Mil.
Net Income was 27.723 + 15.878 + 35.434 + 41.382 = ¥120.4 Mil.

Revenue was 88.105 + 66.839 + 110.264 + 116.484 = ¥381.7 Mil.
Gross Profit was 31.473 + 21.242 + 42.31 + 51.324 = ¥146.3 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(1800.36 + 1843.376 + 1847.148 + 1853.541 + 1906.52) / 5 = ¥1850.189 Mil.
Total Assets at the begining of last year (Sep22) was ¥1,800.4 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.0 Mil.
Total Current Assets was ¥1,341.1 Mil.
Total Current Liabilities was ¥111.0 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.

Caina Technology Co's current Net Income (TTM) was 77.3. ==> 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.

Caina Technology Co's current Cash Flow from Operations (TTM) was 79.1. ==> 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)
=77.32/1906.52
=0.04055557

ROA (Last Year)=Net Income/Total Assets (Sep22)
=120.417/1800.36
=0.06688496

Caina Technology Co's return on assets of this year was 0.04055557. Caina Technology Co's return on assets of last year was 0.06688496. ==> 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.

Caina Technology Co's current Net Income (TTM) was 77.3. Caina Technology Co's current Cash Flow from Operations (TTM) was 79.1. ==> 79.1 > 77.3 ==> 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
=0.144/1918.0654
=7.508E-5

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=0/1850.189
=0

Caina Technology Co's gearing of this year was 7.508E-5. Caina Technology Co's gearing of last year was 0. ==> 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
=1148.392/86.72
=13.24252768

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=1341.05/110.955
=12.08643144

Caina Technology Co's current ratio of this year was 13.24252768. Caina Technology Co's current ratio of last year was 12.08643144. ==> 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.

Caina Technology Co's number of shares in issue this year was 120.798. Caina Technology Co's number of shares in issue last year was 121.556. ==> 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
=159.456/408.999
=0.38986892

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=146.349/381.692
=0.38342171

Caina Technology Co's gross margin of this year was 0.38986892. Caina Technology Co's gross margin of last year was 0.38342171. ==> 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)
=408.999/1906.52
=0.21452647

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=381.692/1800.36
=0.21200871

Caina Technology Co's asset turnover of this year was 0.21452647. Caina Technology Co's asset turnover of last year was 0.21200871. ==> 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+0+1+0+1+1+1+1
=7

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

Caina Technology Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Caina Technology Co  (SZSE:301122) 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.


Caina Technology Co Piotroski F-Score Related Terms

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Caina Technology Co Business Description

Traded in Other Exchanges
N/A
Address
No. 253 Chenglu Road, Huashi Town, Jiangsu Province, Jiangyin, CHN, 214421
Caina Technology Co Ltd is engaged in the research and development, production and sales of injection and puncture instruments and laboratory consumables.

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