MingZhu Logistics Holdings Limited
YGMZF Industrials Trucking
MingZhu Logistics Holdings Limited’s revenue for fiscal 2025 (year ended December 2025) was $22.7 million, down 43.9% from fiscal 2024. In the quarter to June 2026, revenue fell 94.2%, EPS fell 98.4%, free cash flow grew 124.3% and total debt fell 21.9%, each against the same quarter a year earlier.
Follow YGMZF
MingZhu Logistics Holdings Limited (YGMZF) Piotroski F-score
MingZhu Logistics Holdings Limited's Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | 0.00 |
| FY2024 | 2 | 0.00 |
| FY2023 | 2 | (3.00) |
| FY2022 | 5 | 5.00 |
| FY2021 | 0 | (5.00) |
| FY2020 | 5 | 0.00 |
| FY2019 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (8.95%) | (5.68%) | Fail | 0 |
| Positive operating cash flow | (39.57m) | (2.59m) | Fail | 0 |
| Rising return on assets | (8.95%) | (5.68%) | Fail | 0 |
| Cash flow above net income | (30.59m) | 3.59m | Fail | 0 |
| Falling long-term leverage | 0.01 | 0.01 | Pass | 1 |
| Rising current ratio | 3.52 | 1.00 | Pass | 1 |
| No new shares issued | 79,933,000 | 4,734,000 | Fail | 0 |
| Rising gross margin | (8.18%) | 1.96% | Fail | 0 |
| Rising asset turnover | 0.23 | 0.37 | 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 |
|---|---|
| MRTN Marten Transport, Ltd. compare | 6 |
| HTLD Heartland Express, Inc. compare | 5 |
| CVLG Covenant Logistics Group, Inc. compare | 4 |
| TSPH CreateAI Holdings Inc. compare | 4 |
| ULH Universal Logistics Holdings, Inc. compare | 3 |
| PAMT PAMT Corp. compare | 3 |
| YGMZF MingZhu Logistics Holdings Limited | 2 |
| TOPP Toppoint Holdings Inc. compare | 2 |
| ETS Elite Express Holding 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