Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Zengame Technology Holding Piotroski F-Score Related Terms
Zengame Technology Holding 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.
ZNGMF vs NTES, EA, TTWO: Piotroski F-Score Comparison
For the Electronic Gaming & Multimedia subindustry, Zengame Technology Holding'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.
Zengame Technology Holding Piotroski F-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Zengame Technology Holding's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Zengame Technology Holding'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.
Zengame Technology Holding's current Net Income (TTM) was 49.4.
==> 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.
Zengame Technology Holding's current Cash Flow from Operations (TTM) was 34.4.
==> 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.
Zengame Technology Holding's return on assets of this year was 0.12485177. Zengame Technology Holding's return on assets of last year was 0.15995684.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Zengame Technology Holding's gearing of this year was 0.00452708. Zengame Technology Holding's gearing of last year was 0.00654117.
==> 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
Zengame Technology Holding's current ratio of this year was 11.94213308. Zengame Technology Holding's current ratio of last year was 8.83089537.
==> 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.
Zengame Technology Holding's number of shares in issue this year was 1034.976. Zengame Technology Holding's number of shares in issue last year was 1029.852.
==> 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.
Zengame Technology Holding's gross margin of this year was 0.50821846. Zengame Technology Holding's gross margin of last year was 0.55414866.
==> 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
Zengame Technology Holding's asset turnover of this year was 0.55485321. Zengame Technology Holding's asset turnover of last year was 0.6156958.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Zengame Technology Holding has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Zengame Technology Holding (ZNGMF) has a Piotroski F-Score of 4 as of Aug. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Zengame Technology Holding and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Zengame Technology Holding's Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, Zengame Technology Holding ranks #337 out of 548 companies in the Interactive Media industry, placing it in the top 61.5%.
Is Zengame Technology Holding's Piotroski F-Score too high?
Zengame Technology Holding's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 7.00. The Interactive Media industry median Piotroski F-Score is 5.00. Zengame Technology Holding's value of 4 is 20% below this industry median. Based on the distribution chart, Zengame Technology Holding ranks #337 out of 548 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Zengame Technology Holding has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Zengame Technology Holding's Piotroski F-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Zengame Technology Holding ranks #337 out of 548 companies for Piotroski F-Score. This places Zengame Technology Holding in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Zengame Technology Holding's value of 4 is 20% below this benchmark. Historically, Zengame Technology Holding's own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Zengame Technology Holding 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 an Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 548 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. Zengame Technology Holding's current Piotroski F-Score of 4 is 20% 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 Zengame Technology Holding and its competitors. For the Interactive Media 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. Zengame Technology Holding's current Piotroski F-Score is 4, which is 33% below 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 Zengame Technology Holding stock overvalued right now?
Zengame Technology Holding (ZNGMF) has a current Piotroski F-Score of 4. The stock's GF Value™ is $0.35, compared to a current price of $0.35 — trading 0.2% below its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Interactive Media industry median of 5.00. Zengame Technology Holding's overall GF Score™ is 37/100 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 Zengame Technology Holding (ZNGMF), the current Piotroski F-Score is 4 as of Aug. 02, 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 Zengame Technology Holding (ZNGMF) Overvalued in 2026?
Based on GuruFocus' analysis, Zengame Technology Holding stock appears to be undervalued.
The current stock price of $0.35 is trading 0.2% below its estimated GF Value™ of $0.35.
Key valuation signals for ZNGMF:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: $0.35 vs. price of $0.35 (0.2% below fair value)
Industry Position: 20% below the Interactive Media median (#337 of 548)
No single metric tells the full story. See the ZNGMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressKeji South 12 Road, Rooms 1304-06, Changhong Science and Technology Mansion, Science and Technology Park, Nanshan District, Shenzhen, CHN, 518057
Zengame Technology Holding Ltd is a mobile game developer. The company operates self-developed and third-party-developed games. The company's games include card games, board games, other casual games, and hardcore games, including Fight the Landlord, Sichuan Mahjong, Hunan Run Fast, Tiantian Love Chinese Chess, Happy Mengmengxiao and Kuaishou Fishing. It is also engaged in the investment business.
37GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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