Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Pilot's quarterly construction in progress
increased
from Jun. 2025 (円2,966 Mil) to Sep. 2025 (円3,805 Mil) but then
declined
from Sep. 2025 (円3,805 Mil) to Dec. 2025 (円3,073 Mil).
Pilot's annual construction in progress
declined
from Dec. 2023 (円5,612 Mil) to Dec. 2024 (円4,295 Mil) and
declined
from Dec. 2024 (円4,295 Mil) to Dec. 2025 (円3,073 Mil).
Pilot Construction In Progress Historical Data
* Premium members only.
The historical data trend for Pilot's Construction In Progress can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.
What does a Construction In Progress of 円3,073 Mil mean?
Pilot (TSE:7846) has a Construction In Progress of 円3,073 Mil as of Dec. 2025. Construction in Progress records the amount of construction work that is not complete. View historical data on Pilot and its competitors.
Is Pilot's Construction In Progress too high?
Pilot's current Construction In Progress is 円3,073 Mil. Overall, Pilot has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Pilot's Construction In Progress compare to competitors?
Pilot's Construction In Progress of 円3,073 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for an Industrial Products company?
A good Construction In Progress depends on the Industrial Products industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on Pilot and its competitors. Pilot's current Construction In Progress is 円3,073 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pilot stock overvalued right now?
Based on GuruFocus' analysis, Pilot (TSE:7846) is currently considered Fairly Valued. The stock's GF Value™ is 円1,669.26, compared to a current price of 円1,778.00 — trading 6.5% above its estimated fair value. The current Construction In Progress is 円3,073 Mil. Pilot's overall GF Score™ is 77/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For Pilot (TSE:7846), the current Construction In Progress is 円3,073 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pilot (TSE:7846) Overvalued in 2026?
Based on GuruFocus' analysis, Pilot stock appears to be overvalued.
The current stock price of 円1,778.00 is trading 6.5% above its estimated GF Value™ of 円1,669.26.
GuruFocus considers Pilot to be Fairly Valued.
Key valuation signals for TSE:7846:
Construction In Progress: 円3,073 Mil
GF Value™: 円1,669.26 vs. price of 円1,778.00 (6.5% above fair value)
No single metric tells the full story. See the TSE:7846 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pilot Corp is a Japanese company that manufactures, purchases, and distributes stationery items, including writing instruments, other stationery products, and toys, and relevant services. The company operates through four segments: Japan, the Americas, Europe, and Asia. The Japan segment distributes products through direct sales to retail stores in Japan, and this segment contributes a majority proportion of total group revenue. The Americas segment is mainly engaged in the manufacture and sales of ball pens in the United States, Mexico, and Brazil. The Europe segment operates in Sweden, the United Kingdom, Germany, France, and others. The Asia segment provides writing materials in Taiwan, mainland China, Hong Kong, Indonesia, Malaysia, and Singapore.
77GF Score
Get the complete analysis for TSE:7846
Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:7846 has been successfully added to your 
