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G-Resources Group (HKSE:01051) Piotroski F-Score : 8 (As of May. 12, 2024)


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What is G-Resources Group Piotroski F-Score?

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

G-Resources Group 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 G-Resources Group's Piotroski F-Score or its related term are showing as below:

HKSE:01051' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of G-Resources Group was 8. The lowest was 4. And the median was 6.


G-Resources Group Piotroski F-Score Historical Data

The historical data trend for G-Resources Group'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.

G-Resources Group Piotroski F-Score Chart

G-Resources Group 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 4.00 7.00 5.00 4.00 8.00

G-Resources Group 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 5.00 - 4.00 - 8.00

Competitive Comparison of G-Resources Group's Piotroski F-Score

For the Asset Management subindustry, G-Resources Group'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.


G-Resources Group's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, G-Resources Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where G-Resources Group'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$55.5 Mil.
Cash Flow from Operations was HK$555.4 Mil.
Revenue was HK$541.9 Mil.
Gross Profit was HK$541.9 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (12458.75 + 12247.664) / 2 = HK$12353.207 Mil.
Total Assets at the begining of this year (Dec22) was HK$12,458.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Total Current Assets was HK$6,440.5 Mil.
Total Current Liabilities was HK$241.7 Mil.
Net Income was HK$-700.1 Mil.

Revenue was HK$134.9 Mil.
Gross Profit was HK$134.9 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (13186.752 + 12458.75) / 2 = HK$12822.751 Mil.
Total Assets at the begining of last year (Dec21) was HK$13,186.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Total Current Assets was HK$7,836.7 Mil.
Total Current Liabilities was HK$465.5 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.

G-Resources Group's current Net Income (TTM) was 55.5. ==> 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.

G-Resources Group's current Cash Flow from Operations (TTM) was 555.4. ==> 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.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=55.504/12458.75
=0.00445502

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-700.118/13186.752
=-0.05309253

G-Resources Group's return on assets of this year was 0.00445502. G-Resources Group's return on assets of last year was -0.05309253. ==> 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.

G-Resources Group's current Net Income (TTM) was 55.5. G-Resources Group's current Cash Flow from Operations (TTM) was 555.4. ==> 555.4 > 55.5 ==> 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
=0/12353.207
=0

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0/12822.751
=0

G-Resources Group's gearing of this year was 0. G-Resources Group's gearing of last year was 0. ==> 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
=6440.5/241.706
=26.64600796

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=7836.714/465.458
=16.83656528

G-Resources Group's current ratio of this year was 26.64600796. G-Resources Group's current ratio of last year was 16.83656528. ==> 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.

G-Resources Group's number of shares in issue this year was 450.814. G-Resources Group's number of shares in issue last year was 450.814. ==> 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
=541.899/541.899
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=134.851/134.851
=1

G-Resources Group's gross margin of this year was 1. G-Resources Group's gross margin of last year was 1. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=541.899/12458.75
=0.04349546

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=134.851/13186.752
=0.01022625

G-Resources Group's asset turnover of this year was 0.04349546. G-Resources Group's asset turnover of last year was 0.01022625. ==> 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+1+1+0+1
=8

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

G-Resources Group has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

G-Resources Group  (HKSE:01051) 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.


G-Resources Group Piotroski F-Score Related Terms

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G-Resources Group (HKSE:01051) Business Description

Traded in Other Exchanges
Address
No. 151 Gloucester Road, Room 1801, 18th Floor, Capital Centre, Wanchai, Hong Kong, HKG
G-Resources Group Ltd is an investment and financial services company. The company is split across three segments: Principal investment business, Financial services business, and Real property business. The Principal investment business which derives majority revenue invests in listed and unlisted financial securities, including shares, bonds, and managed investments. The Financial services business generates revenue primarily from interest from money lending operations, and partly from commission income from financial services provided. The Real property business invests in Hong Kong commercial property and derives income through rent.

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