* 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.
Competitive Comparison of Zhejiang Huayou Cobalt Co's Piotroski F-Score
For the Other Industrial Metals & Mining subindustry, Zhejiang Huayou Cobalt 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.
Zhejiang Huayou Cobalt Co's Piotroski F-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Zhejiang Huayou Cobalt Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Zhejiang Huayou Cobalt 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 (Mar24) TTM:
Last Year (Mar23) TTM:
Net Income was 148.156 + 127.17 + 47.297 + 72.543 = $395 Mil. Cash Flow from Operations was 137.071 + 94.32 + 140.483 + 129.007 = $501 Mil. Revenue was 1987.777 + 2431.598 + 2130.606 + 2077.713 = $8,628 Mil. Gross Profit was 261.684 + 360.949 + 244.795 + 251.322 = $1,119 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(17395.619 + 17373.808 + 18337.021 + 17579.378 + 17934.769) / 5 = $17724.119 Mil. Total Assets at the begining of this year (Mar23) was $17,396 Mil. Long-Term Debt & Capital Lease Obligation was $3,662 Mil. Total Current Assets was $6,608 Mil. Total Current Liabilities was $7,158 Mil.
Net Income was 156.71 + 107.166 + 129.072 + 148.616 = $542 Mil.
Revenue was 2659.566 + 2520.644 + 2054.279 + 2773.262 = $10,008 Mil. Gross Profit was 525.88 + 389.196 + 434.263 + 449.753 = $1,799 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(11971.403 + 13539.341 + 14602.005 + 15863.049 + 17395.619) / 5 = $14674.2834 Mil. Total Assets at the begining of last year (Mar22) was $11,971 Mil. Long-Term Debt & Capital Lease Obligation was $2,952 Mil. Total Current Assets was $7,523 Mil. Total Current Liabilities was $8,416 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.
Zhejiang Huayou Cobalt Co's current Net Income (TTM) was 395.
==> 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.
Zhejiang Huayou Cobalt Co's current Cash Flow from Operations (TTM) was 501.
==> 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.
Zhejiang Huayou Cobalt Co's return on assets of this year was 0.02271641. Zhejiang Huayou Cobalt Co's return on assets of last year was 0.04523814.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Zhejiang Huayou Cobalt Co's gearing of this year was 0.20660418. Zhejiang Huayou Cobalt Co's gearing of last year was 0.20117671.
==> 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
Zhejiang Huayou Cobalt Co's current ratio of this year was 0.92313797. Zhejiang Huayou Cobalt Co's current ratio of last year was 0.89383831.
==> 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.
Zhejiang Huayou Cobalt Co's number of shares in issue this year was 791.538. Zhejiang Huayou Cobalt Co's number of shares in issue last year was 800.079.
==> 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.
Zhejiang Huayou Cobalt Co's gross margin of this year was 0.12966964. Zhejiang Huayou Cobalt Co's gross margin of last year was 0.17976986.
==> 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
Zhejiang Huayou Cobalt Co's asset turnover of this year was 0.49596936. Zhejiang Huayou Cobalt Co's asset turnover of last year was 0.83597144.
==> Last year's asset turnover is higher ==> Score 0.
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
+
0
+
1
+
1
+
0
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Zhejiang Huayou Cobalt Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Zhejiang Huayou Cobalt Co (XSWX:HUAYO) 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.
Zhejiang Huayou Cobalt Co Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Zhejiang Huayou Cobalt Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Zhejiang Huayou Cobalt Co (XSWX:HUAYO) Business Description
Zhejiang Huayou Cobalt Co Ltd provides metal production and processing services. The company produces cobalt oxide, cobalt carbonate, cobalt hydroxide, cobalt oxalate, cobalt sulfate, cobalt monoxide, copper, nickel, and related products. The company serves customers and clients internationally.
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