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Lee Chang Yung TechnologyTPE:4989 -0.45%49 Piotroski F-Score is 2 as of Aug. 05, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates TPE:4989 with a GF Score™ of 49/100 and a GF Value™ of NT$20.18 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,502 Metals & Mining companies, Lee Chang Yung Technology ranks worse than 74.9% on this metric.
Warning Sign:
Piotroski F-Score of 2 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
Lee Chang Yung Technology has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Lee Chang Yung Technology's Piotroski F-Score or its related term are showing as below:
TPE:4989'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 2
During the past 13 years, the highest Piotroski F-Score of Lee Chang Yung Technology was 8. The lowest was 1. And the median was 5.
Lee Chang Yung Technology (TPE:4989) 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.
Lee Chang Yung Technology Piotroski F-Score Related Terms
Lee Chang Yung Technology 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.
TPE:4989 vs SCCO, FCX: Piotroski F-Score Comparison
For the Copper subindustry, Lee Chang Yung Technology'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.
Lee Chang Yung Technology Piotroski F-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Lee Chang Yung Technology's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Lee Chang Yung Technology'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 (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was -251.985 + -116.748 + -19.32 + 18.294 = NT$-370 Mil. Cash Flow from Operations was -69.703 + -134.274 + -125.135 + -126.517 = NT$-456 Mil. Revenue was 742.393 + 614.315 + 798.044 + 977.047 = NT$3,132 Mil. Gross Profit was -177.05 + -92.614 + 11.553 + 48.163 = NT$-210 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2414.402 + 2076.398 + 2085.427 + 2147.927 + 2456.331) / 5 = NT$2236.097 Mil. Total Assets at the begining of this year (Mar25) was NT$2,414 Mil. Long-Term Debt & Capital Lease Obligation was NT$96 Mil. Total Current Assets was NT$1,858 Mil. Total Current Liabilities was NT$876 Mil.
Net Income was -7.215 + -126.408 + -150.885 + -91.504 = NT$-376 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.
Lee Chang Yung Technology's current Net Income (TTM) was -370.
==> Negative ==> Score 0.
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.
Lee Chang Yung Technology's current Cash Flow from Operations (TTM) was -456.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Lee Chang Yung Technology's return on assets of this year was -0.15314724. Lee Chang Yung Technology's return on assets of last year was -0.13594336.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Lee Chang Yung Technology's gearing of this year was 0.04293105. Lee Chang Yung Technology's gearing of last year was 0.03964628.
==> 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
Lee Chang Yung Technology's current ratio of this year was 2.12080886. Lee Chang Yung Technology's current ratio of last year was 3.73958937.
==> 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.
Lee Chang Yung Technology's number of shares in issue this year was 147.495. Lee Chang Yung Technology's number of shares in issue last year was 145.315.
==> There is larger number of shares in issue this year. ==> Score 0.
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.
Lee Chang Yung Technology's gross margin of this year was -0.06703751. Lee Chang Yung Technology's gross margin of last year was -0.11152438.
==> 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
Lee Chang Yung Technology's asset turnover of this year was 1.29713237. Lee Chang Yung Technology's asset turnover of last year was 0.98059.
==> 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
Lee Chang Yung Technology has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Lee Chang Yung Technology (TPE:4989) has a Piotroski F-Score of 2 as of Aug. 05, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lee Chang Yung Technology and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Lee Chang Yung Technology's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Lee Chang Yung Technology ranks #1874 out of 2502 companies in the Metals & Mining industry, placing it in the top 74.9%.
Is Lee Chang Yung Technology's Piotroski F-Score too high?
Lee Chang Yung Technology's current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Metals & Mining industry median Piotroski F-Score is 3.00. Lee Chang Yung Technology's value of 2 is 33.3% below this industry median. Based on the distribution chart, Lee Chang Yung Technology ranks #1874 out of 2502 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Lee Chang Yung Technology has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lee Chang Yung Technology's Piotroski F-Score compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, Lee Chang Yung Technology ranks #1874 out of 2502 companies for Piotroski F-Score. This places Lee Chang Yung Technology in the lower half of its industry. The industry median Piotroski F-Score is 3.00. Lee Chang Yung Technology's value of 2 is 33.3% below this benchmark. Historically, Lee Chang Yung Technology's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 3.00, Lee Chang Yung Technology 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 a Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,502 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. Lee Chang Yung Technology's current Piotroski F-Score of 2 is 33.3% 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 Lee Chang Yung Technology and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lee Chang Yung Technology's current Piotroski F-Score is 2, which is 60% below 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 Lee Chang Yung Technology stock overvalued right now?
Based on GuruFocus' analysis, Lee Chang Yung Technology (TPE:4989) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$20.18, compared to a current price of NT$66.90 — trading 231.5% above its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 33.3% below the Metals & Mining industry median of 3.00. Lee Chang Yung Technology's overall GF Score™ is 49/100 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 Lee Chang Yung Technology (TPE:4989), the current Piotroski F-Score is 2 as of Aug. 05, 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 Lee Chang Yung Technology (TPE:4989) Overvalued in 2026?
Based on GuruFocus' analysis, Lee Chang Yung Technology stock appears to be overvalued.
The current stock price of NT$66.90 is trading 231.5% above its estimated GF Value™ of NT$20.18.
GuruFocus considers Lee Chang Yung Technology to be Significantly Overvalued.
Key valuation signals for TPE:4989:
Piotroski F-Score: 2 (60% below median its 10-year median of 5.00)
GF Value™: NT$20.18 vs. price of NT$66.90 (231.5% above fair value)
Industry Position: 33.3% below the Metals & Mining median (#1874 of 2502)
No single metric tells the full story. See the TPE:4989 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lee Chang Yung Technology Corp produces, manufactures, and sells electrolytic copper foil, an upstream material for printed circuit boards. The Group currently sells a single product, copper foil.
49GF Score
Get the complete analysis for TPE:4989
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