Golden Heaven Group Holdings Ltd.
GDHG Consumer Cyclical Leisure
Golden Heaven Group Holdings Ltd.’s revenue for fiscal 2025 (year ended September 2025) was $15.3 million, down 31.5% from fiscal 2024. Operating cash flow growth for three consecutive years.
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Golden Heaven Group Holdings Ltd. (GDHG) Piotroski F-score
Golden Heaven Group Holdings Ltd.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 1 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 4.00 |
| FY2024 | 1 | (2.00) |
| FY2023 | 3 | (2.00) |
| FY2022 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (5.93%) | (1.99%) | Fail | 0 |
| Positive operating cash flow | 18.96m | (3.01m) | Pass | 1 |
| Rising return on assets | (5.93%) | (1.99%) | Fail | 0 |
| Cash flow above net income | 27.55m | (1.22m) | Pass | 1 |
| Falling long-term leverage | 0.04 | 0.10 | Pass | 1 |
| Rising current ratio | 25.01 | 10.41 | Pass | 1 |
| No new shares issued | 793,800 | 6,800 | Fail | 0 |
| Rising gross margin | 50.18% | 44.80% | Pass | 1 |
| Rising asset turnover | 0.11 | 0.25 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
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 |
|---|---|
| AOUT American Outdoor Brands, Inc. compare | 6 |
| KMRK K-Tech Solutions Company Limited compare | 6 |
| PLBY PLBY Group, Inc. compare | 5 |
| GDHG Golden Heaven Group Holdings Ltd. | 5 |
| KBSX FST Corp. compare | 3 |
| PUSA Powerus Corporation compare | 3 |
| CLAR Clarus Corporation compare | 3 |
| NOMA NOMADAR Corp. compare | — |
| HERE Here Group Limited 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