VTSYF (Vitasoy International Holdings) Piotroski F-Score: 8 (As of Jul. 09, 2026) — 14% Above Median


VTSYF Vitasoy International Holdings Ltd VTSYF
74 GF Score
Price $0.82
GF Value $1.16
! 1 Warning Sign
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What is Vitasoy International Holdings Piotroski F-Score?

Vitasoy International Holdings VTSYF 74 Piotroski F-Score is 8 as of Jul. 09, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates VTSYF with a GF Score™ of 74/100 and a GF Value™ of $1.16. The stock has 1 warning sign investors should review. Among 1,910 Consumer Packaged Goods companies, Vitasoy International Holdings ranks better than 97.64% on this metric.

Good Sign:

Piotroski F-Score is 8, 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

Vitasoy International Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Vitasoy International Holdings's Piotroski F-Score or its related term are showing as below:

VTSYF' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Vitasoy International Holdings was 8. The lowest was 3. And the median was 7.

Vitasoy International Holdings  (OTCPK:VTSYF) 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.


Vitasoy International Holdings Piotroski F-Score Related Terms


Vitasoy International Holdings Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Vitasoy International Holdings'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.

Vitasoy International Holdings Piotroski F-Score Chart

Vitasoy International Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 7.00 7.00 8.00 0.00

Vitasoy International Holdings Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 7.00 0.00 8.00 0.00 0.00

VTSYF vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Vitasoy International Holdings'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.


Vitasoy International Holdings Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Vitasoy International Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Vitasoy International Holdings's Piotroski F-Score falls into.


VTSYF
74GF Score
Vitasoy International Holdings Ltd VTSYF
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was $30.2 Mil.
Cash Flow from Operations was $110.5 Mil.
Revenue was $807.1 Mil.
Gross Profit was $413.9 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was (720.529 + 726.727) / 2 = $723.628 Mil.
Total Assets at the begining of this year (Mar24) was $720.5 Mil.
Long-Term Debt & Capital Lease Obligation was $28.9 Mil.
Total Current Assets was $337.8 Mil.
Total Current Liabilities was $275.6 Mil.
Net Income was $14.9 Mil.

Revenue was $794.7 Mil.
Gross Profit was $397.7 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was (745.285 + 720.529) / 2 = $732.907 Mil.
Total Assets at the begining of last year (Mar23) was $745.3 Mil.
Long-Term Debt & Capital Lease Obligation was $25.3 Mil.
Total Current Assets was $287.2 Mil.
Total Current Liabilities was $284.5 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.

Vitasoy International Holdings's current Net Income (TTM) was 30.2. ==> 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.

Vitasoy International Holdings's current Cash Flow from Operations (TTM) was 110.5. ==> 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 (Mar24)
=30.192/720.529
=0.04190255

ROA (Last Year)=Net Income/Total Assets (Mar23)
=14.875/745.285
=0.01995881

Vitasoy International Holdings's return on assets of this year was 0.04190255. Vitasoy International Holdings's return on assets of last year was 0.01995881. ==> This year is higher. ==> Score 1.

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.

Vitasoy International Holdings's current Net Income (TTM) was 30.2. Vitasoy International Holdings's current Cash Flow from Operations (TTM) was 110.5. ==> 110.5 > 30.2 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=28.923/723.628
=0.03996943

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=25.31/732.907
=0.03453371

Vitasoy International Holdings's gearing of this year was 0.03996943. Vitasoy International Holdings's gearing of last year was 0.03453371. ==> 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

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=337.785/275.574
=1.22575062

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=287.239/284.466
=1.00974809

Vitasoy International Holdings's current ratio of this year was 1.22575062. Vitasoy International Holdings's current ratio of last year was 1.00974809. ==> 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.

Vitasoy International Holdings's number of shares in issue this year was 1072.336. Vitasoy International Holdings's number of shares in issue last year was 1072.895. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=413.949/807.12
=0.51287169

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=397.729/794.724
=0.5004618

Vitasoy International Holdings's gross margin of this year was 0.51287169. Vitasoy International Holdings's gross margin of last year was 0.5004618. ==> 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 (Mar24)
=807.12/720.529
=1.12017698

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=794.724/745.285
=1.0663357

Vitasoy International Holdings's asset turnover of this year was 1.12017698. Vitasoy International Holdings's asset turnover of last year was 1.0663357. ==> 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+1+1+0+1+1+1+1
=8

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

Vitasoy International Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
Vitasoy International Holdings (VTSYF) has a Piotroski F-Score of 8 as of Jul. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Vitasoy International Holdings and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Vitasoy International Holdings' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Vitasoy International Holdings ranks #45 out of 1910 companies in the Consumer Packaged Goods industry, placing it in the top 2.4%.
Is Vitasoy International Holdings' Piotroski F-Score too high?
Vitasoy International Holdings' current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Vitasoy International Holdings' value of 8 is 60% above this industry median. Based on the distribution chart, Vitasoy International Holdings ranks #45 out of 1910 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Vitasoy International Holdings has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Vitasoy International Holdings' Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Vitasoy International Holdings ranks #45 out of 1910 companies for Piotroski F-Score. This places Vitasoy International Holdings in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Vitasoy International Holdings' value of 8 is 60% above this benchmark. Historically, Vitasoy International Holdings' own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Vitasoy International Holdings 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,910 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. Vitasoy International Holdings's current Piotroski F-Score of 8 is 60% 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 Vitasoy International Holdings and its competitors. For the Consumer Packaged Goods 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. Vitasoy International Holdings's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vitasoy International Holdings stock overvalued right now?
Vitasoy International Holdings (VTSYF) has a current Piotroski F-Score of 8. The stock's GF Value™ is $1.16, compared to a current price of $0.82 — trading 29.6% below its estimated fair value. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 60% above the Consumer Packaged Goods industry median of 5.00. Vitasoy International Holdings' overall GF Score™ is 74/100 with 1 warning sign 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 Vitasoy International Holdings (VTSYF), the current Piotroski F-Score is 8 as of Jul. 09, 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 Vitasoy International Holdings (VTSYF) Overvalued in 2026?

Based on GuruFocus' analysis, Vitasoy International Holdings stock appears to be undervalued. The current stock price of $0.82 is trading 29.6% below its estimated GF Value™ of $1.16.

Key valuation signals for VTSYF:

  • Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
  • GF Value™: $1.16 vs. price of $0.82 (29.6% below fair value)
  • GF Score™: 74/100 with 1 warning sign
  • Industry Position: 60% above the Consumer Packaged Goods median (#45 of 1910)

No single metric tells the full story. See the VTSYF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vitasoy International Holdings Business Description

Other Exchanges 00345:Hong Kong
Address Number 1 Kin Wong Street, Tuen Mun, New Territories, Hong Kong, HKG
Vitasoy International Holdings Ltd manufactures and sells food and beverages. Its products include tofu, soy and other plant-based milk, dairy milk, juice, and packaged tea and water. Vitasoy's brands include Vitasoy, Vita, Calci-Plus, Sansui, and Unicurd. Geographically, the company derives its key revenue from Mainland China and the rest from Hong Kong, Singapore, Australia, and New Zealand.
74GF Score

Get the complete analysis for VTSYF

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.82
Price
$1.16
GF Value