Chia Hsin CementTPE:1103 -0.37%63 Piotroski F-Score is 6 as of Jun. 30, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates TPE:1103 with a GF Score™ of 63/100 and a GF Value™ of NT$18.91 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 392 Building Materials companies, Chia Hsin Cement ranks better than 68.62% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Chia Hsin Cement has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Chia Hsin Cement's Piotroski F-Score or its related term are showing as below:
TPE:1103'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of Chia Hsin Cement was 7. The lowest was 2. And the median was 5.
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.
Chia Hsin Cement Piotroski F-Score Related Terms
Chia Hsin Cement Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Chia Hsin Cement'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.
TPE:1103 vs CRH, VMC, MLM: Piotroski F-Score Comparison
For the Building Materials subindustry, Chia Hsin Cement'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.
Chia Hsin Cement Piotroski F-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Chia Hsin Cement's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Chia Hsin Cement'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 (Dec25) TTM:
Last Year (Dec24) TTM:
Net Income was 83.17 + -291.861 + 687.558 + 77.395 = NT$556 Mil. Cash Flow from Operations was 94.199 + 82.848 + 152.214 + -48.111 = NT$281 Mil. Revenue was 752.475 + 768.547 + 723.659 + 770.676 = NT$3,015 Mil. Gross Profit was 120.76 + 128.901 + 112.699 + 125.047 = NT$487 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(35078.08 + 35819.331 + 32759.984 + 33271.283 + 32617.313) / 5 = NT$33909.1982 Mil. Total Assets at the begining of this year (Dec24) was NT$35,078 Mil. Long-Term Debt & Capital Lease Obligation was NT$8,360 Mil. Total Current Assets was NT$9,278 Mil. Total Current Liabilities was NT$3,586 Mil.
Net Income was -38.698 + 71.996 + 484.597 + -198.315 = NT$320 Mil.
Revenue was 699.142 + 738.302 + 775.735 + 772.178 = NT$2,985 Mil. Gross Profit was 104.263 + 119.19 + 127.363 + 84.151 = NT$435 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(36464.334 + 35567.874 + 36301.988 + 36003.48 + 35078.08) / 5 = NT$35883.1512 Mil. Total Assets at the begining of last year (Dec23) was NT$36,464 Mil. Long-Term Debt & Capital Lease Obligation was NT$8,572 Mil. Total Current Assets was NT$9,849 Mil. Total Current Liabilities was NT$2,926 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.
Chia Hsin Cement's current Net Income (TTM) was 556.
==> 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.
Chia Hsin Cement's return on assets of this year was 0.01585782. Chia Hsin Cement's return on assets of last year was 0.00876418.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Chia Hsin Cement's gearing of this year was 0.24655351. Chia Hsin Cement's gearing of last year was 0.23887927.
==> 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
Chia Hsin Cement's current ratio of this year was 2.58701531. Chia Hsin Cement's current ratio of last year was 3.36626381.
==> 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.
Chia Hsin Cement's number of shares in issue this year was 659.716. Chia Hsin Cement's number of shares in issue last year was 660.337.
==> 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.
Chia Hsin Cement's gross margin of this year was 0.16164156. Chia Hsin Cement's gross margin of last year was 0.14570016.
==> 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
Chia Hsin Cement's asset turnover of this year was 0.08596129. Chia Hsin Cement's asset turnover of last year was 0.0818706.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Chia Hsin Cement has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Chia Hsin Cement (TPE:1103) has a Piotroski F-Score of 6 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Chia Hsin Cement and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Chia Hsin Cement's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Chia Hsin Cement ranks #123 out of 392 companies in the Building Materials industry, placing it in the top 31.4%.
Is Chia Hsin Cement's Piotroski F-Score too high?
Chia Hsin Cement's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Building Materials industry median Piotroski F-Score is 5.00. Chia Hsin Cement's value of 6 is 20% above this industry median. Based on the distribution chart, Chia Hsin Cement ranks #123 out of 392 companies in the Building Materials industry, which is above the industry midpoint. Overall, Chia Hsin Cement has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chia Hsin Cement's Piotroski F-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Chia Hsin Cement ranks #123 out of 392 companies for Piotroski F-Score. This puts Chia Hsin Cement in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Chia Hsin Cement's value of 6 is 20% above this benchmark. Historically, Chia Hsin Cement's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Chia Hsin Cement 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 Building Materials company?
The median Piotroski F-Score among Building Materials companies is 5.00, based on 392 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. Chia Hsin Cement'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 Chia Hsin Cement and its competitors. For the Building Materials 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. Chia Hsin Cement's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chia Hsin Cement stock overvalued right now?
Based on GuruFocus' analysis, Chia Hsin Cement (TPE:1103) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$18.91, compared to a current price of NT$13.40 — trading 29.1% below its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Building Materials industry median of 5.00. Chia Hsin Cement's overall GF Score™ is 63/100 with 4 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 Chia Hsin Cement (TPE:1103), the current Piotroski F-Score is 6 as of Jun. 30, 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 Chia Hsin Cement (TPE:1103) Overvalued in 2026?
Based on GuruFocus' analysis, Chia Hsin Cement stock appears to be undervalued.
The current stock price of NT$13.40 is trading 29.1% below its estimated GF Value™ of NT$18.91.
GuruFocus considers Chia Hsin Cement to be Modestly Undervalued.
Key valuation signals for TPE:1103:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: NT$18.91 vs. price of NT$13.40 (29.1% below fair value)
Industry Position: 20% above the Building Materials median (#123 of 392)
No single metric tells the full story. See the TPE:1103 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chia Hsin Cement Corp is engaged in cement manufacturing, wholesale of building materials, retail sale of building materials, non-metallic mining, international trade, real estate commerce, real estate rental and leasing, reconstruction within the renewal area, warehousing and storage, and Others. Its segments include: the Cement, which is responsible for cement sales; the Asset Management, which handles real estate trading and leasing; the Warehousing and Storage, which manages loading and unloading as well as warehousing and storage services at the port; and the Hospitality and Catering Services, which focuses on catering and room service in hotels, along with services for maternal and childcare centers. The majority of the company's revenue comes from the Cement segment.
63GF Score
Get the complete analysis for TPE:1103
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