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Shin Zu Shing CoTPE:3376 +1.91%87 Piotroski F-Score is 3 as of Aug. 24, 2026, which is 50% below its 10-year median of 6.00. GuruFocus rates TPE:3376 with a GF Score™ of 87/100 and a GF Value™ of NT$231.81 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 2,976 Industrial Products companies, Shin Zu Shing Co ranks worse than 82.8% on this metric.
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
Shin Zu Shing Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Shin Zu Shing Co's Piotroski F-Score or its related term are showing as below:
TPE:3376'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of Shin Zu Shing Co was 8. The lowest was 3. And the median was 6.
Shin Zu Shing Co (TPE:3376) 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.
Shin Zu Shing Co Piotroski F-Score Related Terms
Shin Zu Shing Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Shin Zu Shing 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.
TPE:3376 vs CRS, ATI, MLI: Piotroski F-Score Comparison
For the Metal Fabrication subindustry, Shin Zu Shing 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.
Shin Zu Shing Co Piotroski F-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Shin Zu Shing Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Shin Zu Shing Co'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 (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 115.847 + 76.874 + 29.631 + 62.009 = NT$284 Mil. Cash Flow from Operations was 201.433 + 113.428 + 312.689 + -240.152 = NT$387 Mil. Revenue was 2650.027 + 2327.742 + 2352.701 + 2631.368 = NT$9,962 Mil. Gross Profit was 360.512 + 268.289 + 335.895 + 257.567 = NT$1,222 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(22261.028 + 21537.393 + 22226.826 + 22496.803 + 22829.406) / 5 = NT$22270.2912 Mil. Total Assets at the begining of this year (Jun25) was NT$22,261 Mil. Long-Term Debt & Capital Lease Obligation was NT$753 Mil. Total Current Assets was NT$11,202 Mil. Total Current Liabilities was NT$5,072 Mil.
Net Income was 334.438 + 299.861 + 215.495 + -89.959 = NT$760 Mil.
Revenue was 3668.034 + 3290.025 + 2805.533 + 2939.8 = NT$12,703 Mil. Gross Profit was 757.385 + 541.695 + 450.397 + 417.174 = NT$2,167 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(22616.684 + 24042.8 + 23268.285 + 23388.372 + 22261.028) / 5 = NT$23115.4338 Mil. Total Assets at the begining of last year (Jun24) was NT$22,617 Mil. Long-Term Debt & Capital Lease Obligation was NT$745 Mil. Total Current Assets was NT$12,533 Mil. Total Current Liabilities was NT$4,619 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.
Shin Zu Shing Co's current Net Income (TTM) was 284.
==> 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.
Shin Zu Shing Co's return on assets of this year was 0.01277394. Shin Zu Shing Co's return on assets of last year was 0.03359622.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Shin Zu Shing Co's gearing of this year was 0.03381509. Shin Zu Shing Co's gearing of last year was 0.03221917.
==> 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
Shin Zu Shing Co's current ratio of this year was 2.20842383. Shin Zu Shing Co's current ratio of last year was 2.7134421.
==> 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.
Shin Zu Shing Co's number of shares in issue this year was 193.778. Shin Zu Shing Co's number of shares in issue last year was 195.764.
==> 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.
Shin Zu Shing Co's gross margin of this year was 0.12269453. Shin Zu Shing Co's gross margin of last year was 0.17055689.
==> 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
Shin Zu Shing Co's asset turnover of this year was 0.44750126. Shin Zu Shing Co's asset turnover of last year was 0.56168234.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Shin Zu Shing Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Shin Zu Shing Co (TPE:3376) has a Piotroski F-Score of 3 as of Aug. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shin Zu Shing Co and its competitors. This is 50% below median its historical median of 6.00. Over the past decade, Shin Zu Shing Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Shin Zu Shing Co ranks #2464 out of 2976 companies in the Industrial Products industry, placing it in the top 82.8%.
Is Shin Zu Shing Co's Piotroski F-Score too high?
Shin Zu Shing Co's current Piotroski F-Score of 3 is 50% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Industrial Products industry median Piotroski F-Score is 5.00. Shin Zu Shing Co's value of 3 is 40% below this industry median. Based on the distribution chart, Shin Zu Shing Co ranks #2464 out of 2976 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Shin Zu Shing Co has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shin Zu Shing Co's Piotroski F-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Shin Zu Shing Co ranks #2464 out of 2976 companies for Piotroski F-Score. This places Shin Zu Shing Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Shin Zu Shing Co's value of 3 is 40% below this benchmark. Historically, Shin Zu Shing Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Shin Zu Shing Co has consistently been below 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 an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,976 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. Shin Zu Shing Co's current Piotroski F-Score of 3 is 40% below 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 Shin Zu Shing Co and its competitors. For the Industrial Products 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. Shin Zu Shing Co's current Piotroski F-Score is 3, which is 50% below 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 Shin Zu Shing Co stock overvalued right now?
Based on GuruFocus' analysis, Shin Zu Shing Co (TPE:3376) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$231.81, compared to a current price of NT$186.50 — trading 19.5% below its estimated fair value. The current Piotroski F-Score is 3, which is 50% below median its 10-year median of 6.00 and 40% below the Industrial Products industry median of 5.00. Shin Zu Shing Co's overall GF Score™ is 87/100 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 Shin Zu Shing Co (TPE:3376), the current Piotroski F-Score is 3 as of Aug. 24, 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 Shin Zu Shing Co (TPE:3376) Overvalued in 2026?
Based on GuruFocus' analysis, Shin Zu Shing Co stock appears to be undervalued.
The current stock price of NT$186.50 is trading 19.5% below its estimated GF Value™ of NT$231.81.
GuruFocus considers Shin Zu Shing Co to be Modestly Undervalued.
Key valuation signals for TPE:3376:
Piotroski F-Score: 3 (50% below median its 10-year median of 6.00)
GF Value™: NT$231.81 vs. price of NT$186.50 (19.5% below fair value)
Industry Position: 40% below the Industrial Products median (#2464 of 2976)
No single metric tells the full story. See the TPE:3376 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shin Zu Shing Co Ltd is engaged in research and development, design, production, assembly, testing, manufacturing, and sales of various precision springs, stamping parts, hinge components, and metal injection molding (MIM) products. It develops hinge components used in notebook computers, LCD monitors, digital cameras, and other electronic product parts. Its segments are Hinge products, which generate maximum revenue and engage in the design, manufacture, testing, and sales of hinge products for various components, including NB, LCD, and 3C hinge products and other parts such as springs and stamping parts for different types of laptops or consumer electronic products, as well as Milling products and MIM products. Geographically, it generates maximum revenue from Asia.
87GF Score
Get the complete analysis for TPE:3376
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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