NaaS Technology Inc. Sponsored ADR
NAAS Consumer Cyclical Specialty Retail
In the quarter to December 2024, revenue fell 149.0%, EPS fell 7.82% and free cash flow fell 165.5%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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NaaS Technology Inc. Sponsored ADR (NAAS) Piotroski F-score
NaaS Technology Inc. Sponsored ADR's Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 0.00 |
| FY2024 | 4 | (1.00) |
| FY2023 | 5 | 2.00 |
| FY2022 | 3 | 1.00 |
| FY2021 | 2 | 0.00 |
| FY2020 | 2 | (1.00) |
| FY2019 | 3 | (4.00) |
| FY2018 | 7 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (93.80%) | (84.70%) | Fail | 0 |
| Positive operating cash flow | 74.00k | (24.54m) | Pass | 1 |
| Rising return on assets | (93.80%) | (84.70%) | Fail | 0 |
| Cash flow above net income | 62.84m | 100.61m | Pass | 1 |
| Falling long-term leverage | 0.17 | 0.05 | Fail | 0 |
| Rising current ratio | 0.19 | 0.33 | Fail | 0 |
| No new shares issued | 3,042,000 | 822,000 | Fail | 0 |
| Rising gross margin | 85.92% | 44.06% | Pass | 1 |
| Rising asset turnover | 0.27 | 0.19 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
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 |
|---|---|
| HTLM HomesToLife Ltd compare | 6 |
| GRWG GrowGeneration Corp. compare | 6 |
| ABLV Able View Global Inc. compare | 5 |
| BARK BARK, Inc. compare | 5 |
| SPWH Sportsman's Warehouse Holdings, Inc. compare | 4 |
| NAAS NaaS Technology Inc. Sponsored ADR | 4 |
| ZOOZ ZOOZ Strategy Ltd. compare | 4 |
| NPT Texxon Holding Limited compare | 3 |
| PTLE PTL Limited compare | 3 |
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