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Xtep International Holdings (OTCPK:XTPEF) 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.
Xtep International Holdings Piotroski F-Score Related Terms
Xtep International Holdings 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.
Xtep International Holdings Piotroski F-Score Chart
XTPEF vs TJX, ROST, BURL: Piotroski F-Score Comparison
For the Apparel Retail subindustry, Xtep 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.
Xtep International Holdings Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Xtep International Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Xtep International Holdings'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.
*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.
Xtep International Holdings's current Net Income (TTM) was 195.
==> 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.
Xtep International Holdings's current Cash Flow from Operations (TTM) was 135.
==> 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.
Xtep International Holdings's return on assets of this year was 0.08879066. Xtep International Holdings's return on assets of last year was 0.07009942.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Xtep International Holdings's gearing of this year was 0.07809067. Xtep International Holdings's gearing of last year was 0.10636098.
==> 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
Xtep International Holdings's current ratio of this year was 2.37269886. Xtep International Holdings's current ratio of last year was 2.12584417.
==> 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.
Xtep International Holdings's number of shares in issue this year was 2944.42. Xtep International Holdings's number of shares in issue last year was 2655.487.
==> 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.
Xtep International Holdings's gross margin of this year was 0.42845056. Xtep International Holdings's gross margin of last year was 0.43200323.
==> 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
Xtep International Holdings's asset turnover of this year was 0.91609076. Xtep International Holdings's asset turnover of last year was 0.76853435.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Xtep International Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Xtep International Holdings (XTPEF) has a Piotroski F-Score of 6 as of Aug. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Xtep International Holdings and its competitors. This is near median its historical median of 6.00. Over the past decade, Xtep International Holdings' Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Xtep International Holdings ranks #304 out of 1098 companies in the Retail - Cyclical industry, placing it in the top 27.7%.
Is Xtep International Holdings' Piotroski F-Score too high?
Xtep International Holdings' current Piotroski F-Score of 6 is near 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 7.00. The Retail - Cyclical industry median Piotroski F-Score is 6.00. Xtep International Holdings' value of 6 is 0% at this industry median. Based on the distribution chart, Xtep International Holdings ranks #304 out of 1098 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Xtep International Holdings has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does Xtep International Holdings' Piotroski F-Score compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Xtep International Holdings ranks #304 out of 1098 companies for Piotroski F-Score. This puts Xtep International Holdings in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Xtep International Holdings' value of 6 is 0% at this benchmark. Historically, Xtep International Holdings' own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Xtep International Holdings has consistently been at 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 6.00, based on 1,098 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. Xtep International Holdings's current Piotroski F-Score of 6 is 0% at 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 Xtep International Holdings and its competitors. For the Retail - Cyclical industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xtep International Holdings's current Piotroski F-Score is 6, which is near 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 Xtep International Holdings stock overvalued right now?
Xtep International Holdings (XTPEF) has a current Piotroski F-Score of 6. The stock's GF Value™ is $0.93, compared to a current price of $0.59 — trading 36.4% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Retail - Cyclical industry median of 6.00. Xtep International Holdings' overall GF Score™ is 89/100 with 2 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 Xtep International Holdings (XTPEF), the current Piotroski F-Score is 6 as of Aug. 01, 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 Xtep International Holdings (XTPEF) Overvalued in 2026?
Based on GuruFocus' analysis, Xtep International Holdings stock appears to be undervalued.
The current stock price of $0.59 is trading 36.4% below its estimated GF Value™ of $0.93.
Key valuation signals for XTPEF:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: $0.93 vs. price of $0.59 (36.4% below fair value)
Industry Position: 0% at the Retail - Cyclical median (#304 of 1098)
No single metric tells the full story. See the XTPEF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xtep International Holdings Ltd is principally engaged in the design, development, manufacturing, sales, marketing and brand management of sports products including footwear, apparel and accessories for adults and children. With its core Xtep brand, as well as Saucony and Merrell under its diversified brand portfolio, and professional sports segments through an extensive distribution network of more than 8,100 stores. It has two reportable operating segments from continuing operations as follows: (a) mass market segment, including signature brand, Xtep; and (b) professional sports segment, including signature brands, Saucony and Merrell.
89GF Score
Get the complete analysis for XTPEF
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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