Pingtan Marine Enterprise Ltd.
Pingtan Marine Enterprise Ltd. (PME) Piotroski F-score
Pingtan Marine Enterprise Ltd.'s Piotroski F-score for fiscal 2021 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2020.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2021 | 6 | 4.00 |
| FY2020 | 2 | (1.00) |
| FY2019 | 3 | (2.00) |
| FY2018 | 5 | (3.00) |
| FY2017 | 8 | 6.00 |
| FY2016 | 2 | — |
How fiscal 2021’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.60%) | (16.80%) | Fail | 0 |
| Positive operating cash flow | 29.32m | (32.58m) | Pass | 1 |
| Rising return on assets | (0.60%) | (16.80%) | Pass | 1 |
| Cash flow above net income | 32.44m | 40.30m | Pass | 1 |
| Falling long-term leverage | 0.46 | 0.57 | Pass | 1 |
| Rising current ratio | 0.99 | 0.86 | Pass | 1 |
| No new shares issued | 84,906,000 | 79,121,000 | Fail | 0 |
| Rising gross margin | (7.70%) | (2.78%) | Fail | 0 |
| Rising asset turnover | 0.32 | 0.20 | Pass | 1 |
| Piotroski F-score | Mixed | 6 | ||
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 |
|---|---|
| VFF Village Farms International, Inc. compare | 8 |
| PME Pingtan Marine Enterprise Ltd. | 6 |
| LOCL Local Bounti Corporation compare | 5 |
| ALCO Alico, Inc. compare | 4 |
| AFRI Forafric Global PLC compare | 4 |
| LND Brasilagro Cia Brasileira De Propriedades Agricolas compare | 3 |
| LMNR Limoneira Co compare | 2 |
| SDOT Sadot Group Inc. compare | 2 |
| PFAI Pinnacle Food Group Limited compare | 1 |
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