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Great Eagle Holdings (HKSE:00041) Piotroski F-Score : 7 (As of May. 21, 2024)


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What is Great Eagle Holdings 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

Great Eagle Holdings 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 Great Eagle Holdings's Piotroski F-Score or its related term are showing as below:

HKSE:00041' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Great Eagle Holdings was 7. The lowest was 3. And the median was 5.


Great Eagle Holdings Piotroski F-Score Historical Data

The historical data trend for Great Eagle 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.

* Premium members only.

Great Eagle Holdings Piotroski F-Score Chart

Great Eagle Holdings 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 4.00 4.00 6.00 7.00

Great Eagle Holdings Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 4.00 - 6.00 - 7.00

Competitive Comparison of Great Eagle Holdings's Piotroski F-Score

For the Real Estate - Diversified subindustry, Great Eagle 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.


Great Eagle Holdings's Piotroski F-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Great Eagle Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Great Eagle Holdings'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 (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was HK$764 Mil.
Cash Flow from Operations was HK$2,198 Mil.
Revenue was HK$10,644 Mil.
Gross Profit was HK$4,664 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (112886.533 + 111163.169) / 2 = HK$112024.851 Mil.
Total Assets at the begining of this year (Dec22) was HK$112,887 Mil.
Long-Term Debt & Capital Lease Obligation was HK$16,531 Mil.
Total Current Assets was HK$19,090 Mil.
Total Current Liabilities was HK$22,722 Mil.
Net Income was HK$-181 Mil.

Revenue was HK$8,885 Mil.
Gross Profit was HK$3,658 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (119251.235 + 112886.533) / 2 = HK$116068.884 Mil.
Total Assets at the begining of last year (Dec21) was HK$119,251 Mil.
Long-Term Debt & Capital Lease Obligation was HK$22,234 Mil.
Total Current Assets was HK$20,206 Mil.
Total Current Liabilities was HK$18,124 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.

Great Eagle Holdings's current Net Income (TTM) was 764. ==> 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.

Great Eagle Holdings's current Cash Flow from Operations (TTM) was 2,198. ==> 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 (Dec22)
=763.511/112886.533
=0.00676353

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-181.404/119251.235
=-0.00152119

Great Eagle Holdings's return on assets of this year was 0.00676353. Great Eagle Holdings's return on assets of last year was -0.00152119. ==> 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.

Great Eagle Holdings's current Net Income (TTM) was 764. Great Eagle Holdings's current Cash Flow from Operations (TTM) was 2,198. ==> 2,198 > 764 ==> 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: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=16531.07/112024.851
=0.1475661

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=22234.241/116068.884
=0.19156074

Great Eagle Holdings's gearing of this year was 0.1475661. Great Eagle Holdings's gearing of last year was 0.19156074. ==> 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: Dec23)=Total Current Assets/Total Current Liabilities
=19090.041/22722.227
=0.84014833

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=20206.243/18123.852
=1.11489782

Great Eagle Holdings's current ratio of this year was 0.84014833. Great Eagle Holdings's current ratio of last year was 1.11489782. ==> Last year's current ratio is higher ==> Score 0.

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.

Great Eagle Holdings's number of shares in issue this year was 747.723. Great Eagle Holdings's number of shares in issue last year was 739.862. ==> 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
=4663.625/10644.158
=0.4381394

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3657.554/8884.832
=0.41166271

Great Eagle Holdings's gross margin of this year was 0.4381394. Great Eagle Holdings's gross margin of last year was 0.41166271. ==> 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 (Dec22)
=10644.158/112886.533
=0.09429077

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=8884.832/119251.235
=0.07450516

Great Eagle Holdings's asset turnover of this year was 0.09429077. Great Eagle Holdings's asset turnover of last year was 0.07450516. ==> 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+1+0+0+1+1
=7

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

Great Eagle Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Great Eagle Holdings  (HKSE:00041) 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.


Great Eagle Holdings Piotroski F-Score Related Terms

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Great Eagle Holdings (HKSE:00041) Business Description

Traded in Other Exchanges
Address
23 Harbour Road, 33rd Floor, Great Eagle Centre, Wanchai, Hong Kong, HKG
Great Eagle Holdings Ltd is an investment holding company. The group along with its subsidiaries is engaged in property development and investment, operations of hotels, restaurants and flexible workspaces, asset management, project management, trading of building materials, securities investment, provision of property management, maintenance and property agency services and property leasing. The company generates a majority of its revenue from Hong Kong.

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