Puxin Limited
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Puxin Limited (NEW) Piotroski F-score
Puxin Limited's Piotroski F-score for fiscal 2020 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 4 in fiscal 2019.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2020 | 2 | (2.00) |
| FY2019 | 4 | 0.00 |
| FY2018 | 4 | — |
How fiscal 2020’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.71%) | (13.87%) | Fail | 0 |
| Positive operating cash flow | (31.16m) | 3.54m | Fail | 0 |
| Rising return on assets | (0.71%) | (13.87%) | Pass | 1 |
| Cash flow above net income | (26.23m) | 78.03m | Fail | 0 |
| Falling long-term leverage | 0.03 | 0.02 | Fail | 0 |
| Rising current ratio | 0.30 | 0.28 | Pass | 1 |
| No new shares issued | 8,707,800 | 8,545,200 | Fail | 0 |
| Rising gross margin | 46.33% | 47.50% | Fail | 0 |
| Rising asset turnover | 0.64 | 0.83 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
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 |
|---|---|
| CHGG Chegg, Inc. compare | 6 |
| FC Franklin Covey Company compare | 5 |
| GOTU Gaotu Techedu Inc. compare | 5 |
| KLC KinderCare Learning Companies, Inc. compare | 5 |
| SKIL Skillsoft Corp. compare | 4 |
| LGCY Legacy Education Inc. compare | 4 |
| COE 51Talk Online Education Group Sponsored ADR compare | 4 |
| JDZG JIADE Limited compare | 2 |
| NEW Puxin Limited | 2 |
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