China Liberal Education Holdings Limited
CLEUF Consumer Defensive Education & Training Services
China Liberal Education Holdings Limited’s revenue for fiscal 2023 (year ended December 2023) was $2.9 million, down 44.7% from fiscal 2022.
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China Liberal Education Holdings Limited (CLEUF) Piotroski F-score
China Liberal Education Holdings Limited's Piotroski F-score for fiscal 2023 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2022.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2023 | 3 | (2.00) |
| FY2022 | 5 | 2.00 |
| FY2021 | 3 | (4.00) |
| FY2020 | 7 | — |
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (5.61%) | (2.29%) | Fail | 0 |
| Positive operating cash flow | (3.78m) | 423.60k | Fail | 0 |
| Rising return on assets | (5.61%) | (2.29%) | Fail | 0 |
| Cash flow above net income | 1.17m | 2.11m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 10.53 | 0.92 | Pass | 1 |
| No new shares issued | 1,900 | 1,000 | Fail | 0 |
| Rising gross margin | 57.20% | 77.31% | Fail | 0 |
| Rising asset turnover | 0.03 | 0.07 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| STG Sunlands Technology Group Sponsored ADR compare | 8 |
| AMBO Ambow Education Holding Ltd. compare | 7 |
| VSA VisionSys AI Inc. compare | 4 |
| EEIQ EpicQuest Education Group International Limited compare | 4 |
| WAFU Wah Fu Education & Technology Group Limited compare | 3 |
| CLEUF China Liberal Education Holdings Limited | 3 |
| LXEH Lixiang Education Holding Co., Ltd. Sponsored ADR compare | 2 |
| GSUN Golden Sun Technology Group Limited compare | 2 |
| KIDZ KIDZ AI Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover