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Baimtec Material Co (SHSE:688563) Piotroski F-Score : 7 (As of May. 25, 2024)


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What is Baimtec Material Co 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

Baimtec Material Co 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 Baimtec Material Co's Piotroski F-Score or its related term are showing as below:

SHSE:688563' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 7
Current: 7

During the past 5 years, the highest Piotroski F-Score of Baimtec Material Co was 7. The lowest was 4. And the median was 5.


Baimtec Material Co Piotroski F-Score Historical Data

The historical data trend for Baimtec Material 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.

Baimtec Material Co Piotroski F-Score Chart

Baimtec Material Co Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A 4.00 5.00

Baimtec Material Co Quarterly Data
Dec19 Dec20 Mar21 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 4.00 N/A N/A 5.00 7.00

Competitive Comparison of Baimtec Material Co's Piotroski F-Score

For the Aerospace & Defense subindustry, Baimtec Material 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.


Baimtec Material Co's Piotroski F-Score Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Baimtec Material Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Baimtec Material 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 174.887 + 207.079 + 73.301 + 148.12 = ¥603 Mil.
Cash Flow from Operations was 258.035 + -82.345 + 300.518 + -179.746 = ¥296 Mil.
Revenue was 735.757 + 876.685 + 607.835 + 678.614 = ¥2,899 Mil.
Gross Profit was 255.54 + 291.562 + 126.661 + 205.988 = ¥880 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(4111.657 + 4458.576 + 11448.89 + 11503.75 + 11632.479) / 5 = ¥8631.0704 Mil.
Total Assets at the begining of this year (Mar23) was ¥4,112 Mil.
Long-Term Debt & Capital Lease Obligation was ¥90 Mil.
Total Current Assets was ¥10,950 Mil.
Total Current Liabilities was ¥1,358 Mil.
Net Income was 113.362 + 175.281 + 40.182 + 120.947 = ¥450 Mil.

Revenue was 617.462 + 712.128 + 514.289 + 582.38 = ¥2,426 Mil.
Gross Profit was -97.707 + 268.253 + 127.03 + 210.524 = ¥508 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(3472.369 + 3741.613 + 4026.955 + 4079.725 + 4111.657) / 5 = ¥3886.4638 Mil.
Total Assets at the begining of last year (Mar22) was ¥3,472 Mil.
Long-Term Debt & Capital Lease Obligation was ¥47 Mil.
Total Current Assets was ¥3,574 Mil.
Total Current Liabilities was ¥1,305 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.

Baimtec Material Co's current Net Income (TTM) was 603. ==> 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.

Baimtec Material Co's current Cash Flow from Operations (TTM) was 296. ==> 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)
=603.387/4111.657
=0.14675032

ROA (Last Year)=Net Income/Total Assets (Mar22)
=449.772/3472.369
=0.12952886

Baimtec Material Co's return on assets of this year was 0.14675032. Baimtec Material Co's return on assets of last year was 0.12952886. ==> 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.

Baimtec Material Co's current Net Income (TTM) was 603. Baimtec Material Co's current Cash Flow from Operations (TTM) was 296. ==> 296 <= 603 ==> CFROA <= ROA ==> Score 0.

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
=89.638/8631.0704
=0.0103855

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=47.454/3886.4638
=0.01221007

Baimtec Material Co's gearing of this year was 0.0103855. Baimtec Material Co's gearing of last year was 0.01221007. ==> 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
=10950.035/1357.656
=8.06539727

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3573.637/1304.743
=2.73895855

Baimtec Material Co's current ratio of this year was 8.06539727. Baimtec Material Co's current ratio of last year was 2.73895855. ==> 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.

Baimtec Material Co's number of shares in issue this year was 448.847. Baimtec Material Co's number of shares in issue last year was 355.726. ==> 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
=879.751/2898.891
=0.30347847

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=508.1/2426.259
=0.20941705

Baimtec Material Co's gross margin of this year was 0.30347847. Baimtec Material Co's gross margin of last year was 0.20941705. ==> 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)
=2898.891/4111.657
=0.70504203

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=2426.259/3472.369
=0.69873306

Baimtec Material Co's asset turnover of this year was 0.70504203. Baimtec Material Co's asset turnover of last year was 0.69873306. ==> 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+0+1+1+0+1+1
=7

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

Baimtec Material Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Baimtec Material Co  (SHSE:688563) 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.


Baimtec Material Co Piotroski F-Score Related Terms

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Baimtec Material Co (SHSE:688563) Business Description

Traded in Other Exchanges
N/A
Address
No. 5 Yongxiang North Road, Yongfeng High-tech Industrial Base, Haidian, Beijing, CHN, 100094
Baimtec Material Co Ltd is committed to the research, development, manufacture and sales of a series of high-tech products based on aviation new materials, new processes and new technologies. The company's main products cover titanium alloy precision castings, high-temperature alloy master alloys, aircraft windshields, hatch covers, transparent parts and components of observation windows, aerospace rubber, sealants, adhesives, elastic components, etc. in the aerospace and other fields.
Executives
Wu Song Hua Core technical personnel

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