Tianjin Capital Environmental Protection Group Co (OTCPK:TNJIF) 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.
Tianjin Capital Environmental Protection Group Co Piotroski F-Score Related Terms
Tianjin Capital Environmental Protection Group Co 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.
Tianjin Capital Environmental Protection Group Co Piotroski F-Score Chart
Tianjin Capital Environmental Protection Group Co Annual Data
TNJIF vs WM, RSG, WCN: Piotroski F-Score Comparison
For the Waste Management subindustry, Tianjin Capital Environmental Protection 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.
Tianjin Capital Environmental Protection Group Co Piotroski F-Score vs Waste Management Industry
* 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.
*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.
Tianjin Capital Environmental Protection Group Co's current Net Income (TTM) was 125.4.
==> 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.
Tianjin Capital Environmental Protection Group Co's current Cash Flow from Operations (TTM) was 458.6.
==> 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.
Tianjin Capital Environmental Protection Group Co's return on assets of this year was 0.0356368. Tianjin Capital Environmental Protection Group Co's return on assets of last year was 0.03287221.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tianjin Capital Environmental Protection Group Co's gearing of this year was 0.34566366. Tianjin Capital Environmental Protection Group Co's gearing of last year was 0.32696591.
==> 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
Tianjin Capital Environmental Protection Group Co's current ratio of this year was 2.67809276. Tianjin Capital Environmental Protection Group Co's current ratio of last year was 1.62184656.
==> 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.
Tianjin Capital Environmental Protection Group Co's number of shares in issue this year was 1570.329. Tianjin Capital Environmental Protection Group Co's number of shares in issue last year was 1572.599.
==> 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.
Tianjin Capital Environmental Protection Group Co's gross margin of this year was 0.38226251. Tianjin Capital Environmental Protection Group Co's gross margin of last year was 0.39681082.
==> 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
Tianjin Capital Environmental Protection Group Co's asset turnover of this year was 0.19353332. Tianjin Capital Environmental Protection Group Co's asset turnover of last year was 0.19624731.
==> 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
+
1
+
1
+
0
+
1
+
1
+
0
+
0
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tianjin Capital Environmental Protection Group Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Tianjin Capital Environmental Protection Group Co (TNJIF) has a Piotroski F-Score of 6 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tianjin Capital Environmental Protection Group Co and its competitors. This is near median its historical median of 6.00. Over the past decade, Tianjin Capital Environmental Protection Group Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Tianjin Capital Environmental Protection Group Co ranks #62 out of 240 companies in the Waste Management industry, placing it in the top 25.8%.
Is Tianjin Capital Environmental Protection Group Co's Piotroski F-Score too high?
Tianjin Capital Environmental Protection Group Co's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Waste Management industry median Piotroski F-Score is 5.00. Tianjin Capital Environmental Protection Group Co's value of 6 is 20% above this industry median. Based on the distribution chart, Tianjin Capital Environmental Protection Group Co ranks #62 out of 240 companies in the Waste Management industry, which is above the industry midpoint. Overall, Tianjin Capital Environmental Protection Group Co has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Tianjin Capital Environmental Protection Group Co's Piotroski F-Score compare to WM and RSG?
According to the Waste Management industry distribution chart, Tianjin Capital Environmental Protection Group Co ranks #62 out of 240 companies for Piotroski F-Score. This puts Tianjin Capital Environmental Protection Group Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Tianjin Capital Environmental Protection Group Co's value of 6 is 20% above this benchmark. Historically, Tianjin Capital Environmental Protection Group Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Tianjin Capital Environmental Protection Group 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 a Waste Management company?
The median Piotroski F-Score among Waste Management companies is 5.00, based on 240 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. Tianjin Capital Environmental Protection Group Co's current Piotroski F-Score of 6 is 20% 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 Tianjin Capital Environmental Protection Group Co and its competitors. For the Waste Management 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. Tianjin Capital Environmental Protection Group Co's current Piotroski F-Score is 6, which is near 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 Tianjin Capital Environmental Protection Group Co stock overvalued right now?
Tianjin Capital Environmental Protection Group Co (TNJIF) has a current Piotroski F-Score of 6. The stock's GF Value™ is $0.51, compared to a current price of $0.46 — trading 8.9% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Waste Management industry median of 5.00. Tianjin Capital Environmental Protection Group Co's overall GF Score™ is 83/100 with 5 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 Tianjin Capital Environmental Protection Group Co (TNJIF), the current Piotroski F-Score is 6 as of Jun. 25, 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 Tianjin Capital Environmental Protection Group Co (TNJIF) Overvalued in 2026?
Based on GuruFocus' analysis, Tianjin Capital Environmental Protection Group Co stock appears to be undervalued.
The current stock price of $0.46 is trading 8.9% below its estimated GF Value™ of $0.51.
Key valuation signals for TNJIF:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: $0.51 vs. price of $0.46 (8.9% below fair value)
Industry Position: 20% above the Waste Management median (#62 of 240)
No single metric tells the full story. See the TNJIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tianjin Capital Environmental Protection Group Co Business Description
Tianjin Capital Environmental Protection Group Co Ltd is a Chinese company engaged in water utility business, new energy cooling and heating supply business. It provides sewage water treatment, construction and management of related facility, the supply of tap water, and recycled water. The company also provides a heating and cooling supply service, which includes design, construction, operations, transfer of centralized heating and cooling infrastructures, and provision of heating and cooling services. The company has following segments: Sewage processing and sewage treatment plant construction, Sewage processing, Reclaimed water and pipeline connection, Heating and cooling supply services, Tap water and water plant facilities construction, environmental protection equipment, and others.
83GF Score
Get the complete analysis for TNJIF
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TNJIF has been successfully added to your 
