XChange TEC.INC. Sponsored ADR
XHG Financial Insurance Brokers
XChange TEC.INC. Sponsored ADR’s revenue for fiscal 2025 (year ended September 2025) was $51.3 million, up 24.9% from fiscal 2024.
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XChange TEC.INC. Sponsored ADR (XHG) Piotroski F-score
XChange TEC.INC. Sponsored ADR's Piotroski F-score for fiscal 2025 cannot be worked out: needs three fiscal years.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2022 | 5 | 0.00 |
| FY2021 | 5 | 1.00 |
| FY2020 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (173.34%) | — | Fail | 0 |
| Positive operating cash flow | (1.64m) | (1.39m) | Fail | 0 |
| Rising return on assets | (173.34%) | — | n/a | — |
| Cash flow above net income | 103.49m | 30.93m | Pass | 1 |
| Falling long-term leverage | 0.00 | — | n/a | — |
| Rising current ratio | 0.04 | 0.05 | Fail | 0 |
| No new shares issued | 20,939,000 | 87,500 | Fail | 0 |
| Rising gross margin | 2.19% | 4.67% | Fail | 0 |
| Rising asset turnover | 0.85 | — | n/a | — |
| Piotroski F-score | n/a — needs three fiscal years | — | ||
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 |
|---|---|
| HUIZ Huize Holding Limited Sponsored ADR compare | 5 |
| CRD.A Crawford & Company compare | 5 |
| CRD.B Crawford & Company compare | 5 |
| ZBAO Zhibao Technology Inc. compare | 4 |
| SLQT SelectQuote, Inc. compare | 4 |
| AIFU AIFU Inc. - Sponsored ADR compare | 3 |
| GOCOQ GoHealth, Inc. compare | 2 |
| EHTH eHealth, Inc. compare | 2 |
| XHG XChange TEC.INC. Sponsored ADR | — |
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