Phoenix Asia Holdings Limited
PHOE Industrials Engineering & Construction
Phoenix Asia Holdings Limited’s revenue for fiscal 2026 (year ended March 2026) was $7.2 million, down 2.24% from fiscal 2025.
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Phoenix Asia Holdings Limited (PHOE) Piotroski F-score
Phoenix Asia Holdings Limited's Piotroski F-score for fiscal 2026 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 2 | (4.00) |
| FY2025 | 6 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (18.92%) | 22.62% | Fail | 0 |
| Positive operating cash flow | (5.73m) | 1.18m | Fail | 0 |
| Rising return on assets | (18.92%) | 22.62% | Fail | 0 |
| Cash flow above net income | (4.53m) | 154.10k | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 5.46 | 2.24 | Pass | 1 |
| No new shares issued | 21,495,000 | 18,119,000 | Fail | 0 |
| Rising gross margin | 4.58% | 29.52% | Fail | 0 |
| Rising asset turnover | 1.14 | 1.62 | 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 |
|---|---|
| WLDN Willdan Group, Inc. compare | 7 |
| ORN Orion Group Holdings, Inc. compare | 7 |
| MTRX Matrix Service Company compare | 6 |
| BWMN Bowman Consulting Group Ltd. compare | 5 |
| BBCP CONCRETE PUMPING HOLDINGS, INC. compare | 5 |
| AMRC Ameresco, Inc. compare | 3 |
| MAGH Magnitude International Ltd compare | 3 |
| PHOE Phoenix Asia Holdings Limited | 2 |
| CDNL Cardinal Infrastructure Group 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