ITONF (ITO EN) Piotroski F-Score: 5 (As of Jun. 26, 2026) — 17% Below Median


ITONF ITO EN Ltd ITONF
74 GF Score
Price $61.41
GF Value $92.79
! 1 Warning Sign
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What is ITO EN Piotroski F-Score?

ITO EN ITONF 74 Piotroski F-Score is 5 as of Jun. 26, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates ITONF with a GF Score™ of 74/100 and a GF Value™ of $92.79. The stock has 1 warning sign investors should review. Among 112 Beverages - Non-Alcoholic companies, ITO EN ranks worse than 50.89% on this metric.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

ITO EN has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for ITO EN's Piotroski F-Score or its related term are showing as below:

ITONF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of ITO EN was 9. The lowest was 2. And the median was 6.

ITO EN  (OTCPK:ITONF) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


ITO EN Piotroski F-Score Related Terms


ITO EN Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for ITO EN's Piotroski F-Score 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.

ITO EN Piotroski F-Score Chart

ITO EN Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 7.00 7.00 8.00 5.00

ITO EN Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 5.00 0.00 0.00 0.00

ITONF vs KO, PEP, MNST: Piotroski F-Score Comparison

For the Beverages - Non-Alcoholic subindustry, ITO EN's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


ITO EN Piotroski F-Score vs Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, ITO EN's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ITO EN's Piotroski F-Score falls into.


ITONF
74GF Score
ITO EN Ltd ITONF
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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.

This Year (Apr25) TTM:Last Year (Apr24) TTM:
Net Income was $98 Mil.
Cash Flow from Operations was $125 Mil.
Revenue was $3,280 Mil.
Gross Profit was $1,246 Mil.
Average Total Assets from the begining of this year (Apr24)
to the end of this year (Apr25) was (2299.643 + 2390.906) / 2 = $2345.2745 Mil.
Total Assets at the begining of this year (Apr24) was $2,300 Mil.
Long-Term Debt & Capital Lease Obligation was $329 Mil.
Total Current Assets was $1,610 Mil.
Total Current Liabilities was $750 Mil.
Net Income was $102 Mil.

Revenue was $2,950 Mil.
Gross Profit was $1,151 Mil.
Average Total Assets from the begining of last year (Apr23)
to the end of last year (Apr24) was (2538.118 + 2299.643) / 2 = $2418.8805 Mil.
Total Assets at the begining of last year (Apr23) was $2,538 Mil.
Long-Term Debt & Capital Lease Obligation was $389 Mil.
Total Current Assets was $1,584 Mil.
Total Current Liabilities was $628 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

ITO EN's current Net Income (TTM) was 98. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

ITO EN's current Cash Flow from Operations (TTM) was 125. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Apr24)
=98.218/2299.643
=0.04271011

ROA (Last Year)=Net Income/Total Assets (Apr23)
=101.696/2538.118
=0.04006748

ITO EN's return on assets of this year was 0.04271011. ITO EN's return on assets of last year was 0.04006748. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

ITO EN's current Net Income (TTM) was 98. ITO EN's current Cash Flow from Operations (TTM) was 125. ==> 125 > 98 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Apr25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr24 to Apr25
=329.192/2345.2745
=0.14036395

Gearing (Last Year: Apr24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Apr23 to Apr24
=389.096/2418.8805
=0.16085788

ITO EN's gearing of this year was 0.14036395. ITO EN's gearing of last year was 0.16085788. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Apr25)=Total Current Assets/Total Current Liabilities
=1609.639/750.163
=2.145719

Current Ratio (Last Year: Apr24)=Total Current Assets/Total Current Liabilities
=1583.917/628.143
=2.52158665

ITO EN's current ratio of this year was 2.145719. ITO EN's current ratio of last year was 2.52158665. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

ITO EN's number of shares in issue this year was 120.723. ITO EN's number of shares in issue last year was 124.049. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1246.373/3279.821
=0.38001251

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1150.608/2949.503
=0.39010233

ITO EN's gross margin of this year was 0.38001251. ITO EN's gross margin of last year was 0.39010233. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Apr24)
=3279.821/2299.643
=1.42623051

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Apr23)
=2949.503/2538.118
=1.16208269

ITO EN's asset turnover of this year was 1.42623051. ITO EN's asset turnover of last year was 1.16208269. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

ITO EN has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
ITO EN (ITONF) has a Piotroski F-Score of 5 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ITO EN and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, ITO EN's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, ITO EN ranks #57 out of 112 companies in the Beverages - Non-Alcoholic industry, placing it in the top 50.9%.
Is ITO EN's Piotroski F-Score too high?
ITO EN's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Beverages - Non-Alcoholic industry median Piotroski F-Score is 5.50. ITO EN's value of 5 is 9.1% below this industry median. Based on the distribution chart, ITO EN ranks #57 out of 112 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, ITO EN has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does ITO EN's Piotroski F-Score compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, ITO EN ranks #57 out of 112 companies for Piotroski F-Score. This places ITO EN in the lower half of its industry. The industry median Piotroski F-Score is 5.50. ITO EN's value of 5 is 9.1% below this benchmark. Historically, ITO EN's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.50, ITO EN has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Beverages - Non-Alcoholic company?
The median Piotroski F-Score among Beverages - Non-Alcoholic companies is 5.50, based on 112 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ITO EN's current Piotroski F-Score of 5 is 9.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ITO EN and its competitors. For the Beverages - Non-Alcoholic industry, the median Piotroski F-Score is 5.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ITO EN's current Piotroski F-Score is 5, which is 17% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ITO EN stock overvalued right now?
ITO EN (ITONF) has a current Piotroski F-Score of 5. The stock's GF Value™ is $92.79, compared to a current price of $61.41 — trading 33.8% below its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 9.1% below the Beverages - Non-Alcoholic industry median of 5.50. ITO EN's overall GF Score™ is 74/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For ITO EN (ITONF), the current Piotroski F-Score is 5 as of Jun. 26, 2026. 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 ITO EN (ITONF) Overvalued in 2026?

Based on GuruFocus' analysis, ITO EN stock appears to be undervalued. The current stock price of $61.41 is trading 33.8% below its estimated GF Value™ of $92.79.

Key valuation signals for ITONF:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: $92.79 vs. price of $61.41 (33.8% below fair value)
  • GF Score™: 74/100 with 1 warning sign
  • Industry Position: 9.1% below the Beverages - Non-Alcoholic median (#57 of 112)

No single metric tells the full story. See the ITONF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


ITO EN Business Description

Other Exchanges 2593:Japan
Address 47-10, Honmachi 3-chome, Shibuya-ku, Tokyo, JPN, 151-8550
ITO EN Ltd makes beverages and other tea and nutritional products that it sells in Japan. Ito En primarily sells green tea products, including ready-to-drink beverages, tea bags, and other tea leaf products, under its Oi Ocha brand. Other beverages the company sells include black tea, Chinese tea, coffee, vegetable beverages, fruit beverages, mineral water, and functional beverages. The Leaf- and Drink-Related business segment makes up roughly 90% of the company's total revenue. Most remaining revenue is generated from Ito En's restaurant business, which operates hundreds of Tully's coffee shops in Japan.
74GF Score

Get the complete analysis for ITONF

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$61.41
Price
$92.79
GF Value