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Shanghai Microport Endovascular Medtech Co (SHSE:688016) Piotroski F-Score : 8 (As of May. 13, 2024)


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What is Shanghai Microport Endovascular Medtech Co 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

Shanghai Microport Endovascular Medtech Co 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 Shanghai Microport Endovascular Medtech Co's Piotroski F-Score or its related term are showing as below:

SHSE:688016' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 8

During the past 8 years, the highest Piotroski F-Score of Shanghai Microport Endovascular Medtech Co was 8. The lowest was 3. And the median was 5.


Shanghai Microport Endovascular Medtech Co Piotroski F-Score Historical Data

The historical data trend for Shanghai Microport Endovascular Medtech Co'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.

Shanghai Microport Endovascular Medtech Co Piotroski F-Score Chart

Shanghai Microport Endovascular Medtech Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial 8.00 3.00 5.00 4.00 8.00

Shanghai Microport Endovascular Medtech Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 8.00 8.00

Competitive Comparison of Shanghai Microport Endovascular Medtech Co's Piotroski F-Score

For the Medical Devices subindustry, Shanghai Microport Endovascular Medtech 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.


Shanghai Microport Endovascular Medtech Co's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Shanghai Microport Endovascular Medtech Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Shanghai Microport Endovascular Medtech 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 154.686 + 108.9 + 104.006 + 184.296 = ¥552 Mil.
Cash Flow from Operations was 145.07 + 63.346 + 230.501 + 211.949 = ¥651 Mil.
Revenue was 336.031 + 266.837 + 298.745 + 358.081 = ¥1,260 Mil.
Gross Profit was 262.977 + 203.604 + 224.755 + 273.988 = ¥965 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(2159.244 + 2187.613 + 2279.268 + 4246.209 + 4524.505) / 5 = ¥3079.3678 Mil.
Total Assets at the begining of this year (Mar23) was ¥2,159 Mil.
Long-Term Debt & Capital Lease Obligation was ¥21 Mil.
Total Current Assets was ¥3,625 Mil.
Total Current Liabilities was ¥361 Mil.
Net Income was 91.551 + 85.847 + 55.995 + 124.841 = ¥358 Mil.

Revenue was 200.92 + 205.447 + 232.253 + 285.591 = ¥924 Mil.
Gross Profit was 147.983 + 153.554 + 171.774 + 216.29 = ¥690 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1895.829 + 1975.17 + 1893.218 + 1995.119 + 2159.244) / 5 = ¥1983.716 Mil.
Total Assets at the begining of last year (Mar22) was ¥1,896 Mil.
Long-Term Debt & Capital Lease Obligation was ¥29 Mil.
Total Current Assets was ¥1,418 Mil.
Total Current Liabilities was ¥226 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.

Shanghai Microport Endovascular Medtech Co's current Net Income (TTM) was 552. ==> 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.

Shanghai Microport Endovascular Medtech Co's current Cash Flow from Operations (TTM) was 651. ==> 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 (Mar23)
=551.888/2159.244
=0.25559316

ROA (Last Year)=Net Income/Total Assets (Mar22)
=358.234/1895.829
=0.18895903

Shanghai Microport Endovascular Medtech Co's return on assets of this year was 0.25559316. Shanghai Microport Endovascular Medtech Co's return on assets of last year was 0.18895903. ==> 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.

Shanghai Microport Endovascular Medtech Co's current Net Income (TTM) was 552. Shanghai Microport Endovascular Medtech Co's current Cash Flow from Operations (TTM) was 651. ==> 651 > 552 ==> 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: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=21.314/3079.3678
=0.00692155

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=29.284/1983.716
=0.01476219

Shanghai Microport Endovascular Medtech Co's gearing of this year was 0.00692155. Shanghai Microport Endovascular Medtech Co's gearing of last year was 0.01476219. ==> 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: Mar24)=Total Current Assets/Total Current Liabilities
=3625.4/360.503
=10.05650438

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=1418.278/226.294
=6.26741319

Shanghai Microport Endovascular Medtech Co's current ratio of this year was 10.05650438. Shanghai Microport Endovascular Medtech Co's current ratio of last year was 6.26741319. ==> 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.

Shanghai Microport Endovascular Medtech Co's number of shares in issue this year was 123.14. Shanghai Microport Endovascular Medtech Co's number of shares in issue last year was 107.522. ==> 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
=965.324/1259.694
=0.76631626

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=689.601/924.211
=0.74615104

Shanghai Microport Endovascular Medtech Co's gross margin of this year was 0.76631626. Shanghai Microport Endovascular Medtech Co's gross margin of last year was 0.74615104. ==> 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 (Mar23)
=1259.694/2159.244
=0.58339586

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=924.211/1895.829
=0.48749703

Shanghai Microport Endovascular Medtech Co's asset turnover of this year was 0.58339586. Shanghai Microport Endovascular Medtech Co's asset turnover of last year was 0.48749703. ==> 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+0+1+1
=8

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

Shanghai Microport Endovascular Medtech Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Shanghai Microport Endovascular Medtech Co  (SHSE:688016) 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.


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Shanghai Microport Endovascular Medtech Co (SHSE:688016) Business Description

Traded in Other Exchanges
N/A
Address
No. 1 Lane 3399, Kangxin Road, Pudong New Area, Shanghai, CHN, 201318
Shanghai Microport Endovascular Medtech Co Ltd is primarily engaged in the development, production and sales of medical devices for aortic and peripheral vascular interventions.

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