SINOPEC Shangai Petrochemical Company, Ltd.
SHI Energy Oil & Gas Refining & Marketing
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SINOPEC Shangai Petrochemical Company, Ltd. (SHI) Piotroski F-score
SINOPEC Shangai Petrochemical Company, Ltd.'s Piotroski F-score for fiscal 2022 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 8 in fiscal 2021.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2022 | 2 | (6.00) |
| FY2021 | 8 | 4.00 |
| FY2020 | 4 | 1.00 |
| FY2019 | 3 | (2.00) |
| FY2018 | 5 | (1.00) |
| FY2017 | 6 | (2.00) |
| FY2016 | 8 | — |
How fiscal 2022’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (6.32%) | 4.68% | Fail | 0 |
| Positive operating cash flow | (1.11b) | 612.24m | Fail | 0 |
| Rising return on assets | (6.32%) | 4.68% | Fail | 0 |
| Cash flow above net income | (685.52m) | 290.86m | Fail | 0 |
| Falling long-term leverage | 0.02 | 0.02 | Pass | 1 |
| Rising current ratio | 1.13 | 1.33 | Fail | 0 |
| No new shares issued | 108,196,000 | 108,238,100 | Pass | 1 |
| Rising gross margin | (4.97%) | 2.10% | Fail | 0 |
| Rising asset turnover | 1.61 | 1.71 | 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 |
|---|---|
| CVI CVR Energy Inc. compare | 8 |
| PARR Par Pacific Holdings, Inc. compare | 7 |
| DK Delek US Holdings, Inc. compare | 5 |
| WKC World Kinect Corporation compare | 5 |
| UGP Ultrapar Participacoes S.A. compare | 5 |
| CSANY Cosan S.A. Sponsored ADR compare | 4 |
| DKL Delek Logistics Partners, L.P. compare | 4 |
| IEP Icahn Enterprises L.P. compare | 4 |
| SHI SINOPEC Shangai Petrochemical Company, Ltd. | 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