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Nan Liu Enterprise Co (TPE:6504) Piotroski F-Score : 7 (As of Dec. 11, 2024)


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What is Nan Liu Enterprise 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

Nan Liu Enterprise 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 Nan Liu Enterprise Co's Piotroski F-Score or its related term are showing as below:

TPE:6504' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Nan Liu Enterprise Co was 9. The lowest was 2. And the median was 5.


Nan Liu Enterprise Co Piotroski F-Score Historical Data

The historical data trend for Nan Liu Enterprise 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.

Nan Liu Enterprise Co Piotroski F-Score Chart

Nan Liu Enterprise Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 8.00 4.00 4.00 8.00

Nan Liu Enterprise Co Quarterly Data
Dec19 Mar20 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 8.00 8.00 7.00 7.00 7.00

Competitive Comparison of Nan Liu Enterprise Co's Piotroski F-Score

For the Household & Personal Products subindustry, Nan Liu Enterprise 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.


Nan Liu Enterprise Co's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Nan Liu Enterprise Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Nan Liu Enterprise 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 -3.327 + 71.138 + -6.632 + -45.85 = NT$15 Mil.
Cash Flow from Operations was 119.909 + 226.814 + 33.974 + 29.93 = NT$411 Mil.
Revenue was 1638.713 + 1428.576 + 1708.01 + 1687.318 = NT$6,463 Mil.
Gross Profit was 236.255 + 208.463 + 198 + 176.898 = NT$820 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(10651.664 + 10384.256 + 10252.64 + 10033.894 + 9938.517) / 5 = NT$10252.1942 Mil.
Total Assets at the begining of this year (Sep23) was NT$10,652 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,393 Mil.
Total Current Assets was NT$4,379 Mil.
Total Current Liabilities was NT$3,939 Mil.
Net Income was -26.808 + 10.378 + 81.78 + 31.035 = NT$96 Mil.

Revenue was 1637.635 + 1432.932 + 1636.407 + 1470.988 = NT$6,178 Mil.
Gross Profit was 201.779 + 157.542 + 197.024 + 147.11 = NT$703 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(10621.21 + 10419.558 + 10283.54 + 10420.239 + 10651.664) / 5 = NT$10479.2422 Mil.
Total Assets at the begining of last year (Sep22) was NT$10,621 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,645 Mil.
Total Current Assets was NT$4,572 Mil.
Total Current Liabilities was NT$4,299 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.

Nan Liu Enterprise Co's current Net Income (TTM) was 15. ==> 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.

Nan Liu Enterprise Co's current Cash Flow from Operations (TTM) was 411. ==> 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)
=15.329/10651.664
=0.00143912

ROA (Last Year)=Net Income/Total Assets (Sep22)
=96.385/10621.21
=0.00907477

Nan Liu Enterprise Co's return on assets of this year was 0.00143912. Nan Liu Enterprise Co's return on assets of last year was 0.00907477. ==> 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.

Nan Liu Enterprise Co's current Net Income (TTM) was 15. Nan Liu Enterprise Co's current Cash Flow from Operations (TTM) was 411. ==> 411 > 15 ==> 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
=2392.705/10252.1942
=0.23338467

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=2644.841/10479.2422
=0.25238857

Nan Liu Enterprise Co's gearing of this year was 0.23338467. Nan Liu Enterprise Co's gearing of last year was 0.25238857. ==> This year is lower or equal to last year. ==> Score 1.

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
=4378.846/3939.384
=1.11155602

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=4572.245/4298.925
=1.06357869

Nan Liu Enterprise Co's current ratio of this year was 1.11155602. Nan Liu Enterprise Co's current ratio of last year was 1.06357869. ==> 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.

Nan Liu Enterprise Co's number of shares in issue this year was 72.778. Nan Liu Enterprise Co's number of shares in issue last year was 72.174. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=819.616/6462.617
=0.12682416

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=703.455/6177.962
=0.11386522

Nan Liu Enterprise Co's gross margin of this year was 0.12682416. Nan Liu Enterprise Co's gross margin of last year was 0.11386522. ==> 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)
=6462.617/10651.664
=0.6067237

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=6177.962/10621.21
=0.58166273

Nan Liu Enterprise Co's asset turnover of this year was 0.6067237. Nan Liu Enterprise Co's asset turnover of last year was 0.58166273. ==> 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+1+1+0+1+1
=7

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

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

Nan Liu Enterprise Co  (TPE:6504) 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.


Nan Liu Enterprise Co Piotroski F-Score Related Terms

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Nan Liu Enterprise Co Business Description

Traded in Other Exchanges
N/A
Address
No. 699, Silin Road, Yanchao District, Kaohsiung, TWN
Nan Liu Enterprise Co Ltd is a Taiwan-based company that is principally engaged in manufacturing and selling fabric materials, household goods, and skincare goods. The company's products consist of spunlace nonwoven fabrics, air-through/thermal-bonded nonwoven fabrics, disposable surgical gowns fabrics, wet wipes, and cosmetics. The company has a vertically integrated production process, from fabrics to secondary processing and then to finished products. The company distributes its products in Asia, especially in Taiwan, Mainland China, India, and Japan, which jointly contribute the majority of its total revenue.

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