Jupai Holdings Limited
JP Financial Services Asset Management
Jupai Holdings Limited’s revenue for fiscal 2023 (year ended December 2023) was $4.7 million, down 68.4% from fiscal 2022. Operating cash flow growth for three consecutive years.
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Jupai Holdings Limited (JP) Piotroski F-score
Jupai Holdings Limited's Piotroski F-score for fiscal 2023 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2022.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2023 | 5 | 0.00 |
| FY2022 | 5 | 1.00 |
| FY2021 | 4 | (3.00) |
| FY2020 | 7 | 5.00 |
| FY2019 | 2 | 0.00 |
| FY2018 | 2 | (4.00) |
| FY2017 | 6 | 2.00 |
| FY2016 | 4 | — |
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (2.50%) | 1.67% | Fail | 0 |
| Positive operating cash flow | 745.40k | (9.16m) | Pass | 1 |
| Rising return on assets | (2.50%) | 1.67% | Fail | 0 |
| Cash flow above net income | 4.08m | (12.05m) | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 3.30 | 5.39 | Fail | 0 |
| No new shares issued | 31,842,100 | 31,901,000 | Pass | 1 |
| Rising gross margin | 99.98% | 56.04% | Pass | 1 |
| Rising asset turnover | 0.04 | 0.09 | 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 |
|---|---|
| BCG Binah Capital Group, Inc. compare | 7 |
| BNKK Bonk, Inc. compare | 6 |
| JP Jupai Holdings Limited | 5 |
| INV Innventure, Inc. compare | 4 |
| AMTD AMTD IDEA Group compare | 3 |
| EQS Equus Total Return, Inc. compare | 2 |
| SFES Safeguard Scientifics, Inc. compare | — |
| ICMB Investcorp Credit Management BDC, Inc. compare | — |
| BENF Beneficient 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