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Japan Smaller Capitalization FundJOF +1.71%37 Piotroski F-Score is 5 as of Jul. 26, 2026, which is 25% above its 10-year median of 4.00. GuruFocus rates JOF with a GF Score™ of 37/100. The stock has 2 warning signs investors should review. Among 1,598 Asset Management companies, Japan Smaller Capitalization Fund ranks better than 64.52% 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
Japan Smaller Capitalization Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Japan Smaller Capitalization Fund's Piotroski F-Score or its related term are showing as below:
JOF'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 4 Max: 7
Current: 5
During the past 9 years, the highest Piotroski F-Score of Japan Smaller Capitalization Fund was 7. The lowest was 3. And the median was 4.
Japan Smaller Capitalization Fund (NYSE:JOF) 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.
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.
Japan Smaller Capitalization Fund Piotroski F-Score Related Terms
Japan Smaller Capitalization Fund Piotroski F-Score Historical Data
* 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.
Japan Smaller Capitalization Fund Piotroski F-Score Chart
JOF vs PPT, SPXX, RFMZ: Piotroski F-Score Comparison
For the Asset Management subindustry, Japan Smaller Capitalization Fund'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.
Japan Smaller Capitalization Fund Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Japan Smaller Capitalization Fund's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Japan Smaller Capitalization Fund's Piotroski F-Score falls into.
* 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.
*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.
Japan Smaller Capitalization Fund's current Net Income (TTM) was 143.5.
==> 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.
Japan Smaller Capitalization Fund's current Cash Flow from Operations (TTM) was 0.0.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Japan Smaller Capitalization Fund's return on assets of this year was 0.53193753. Japan Smaller Capitalization Fund's return on assets of last year was 0.02816943.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Japan Smaller Capitalization Fund's gearing of this year was 0. Japan Smaller Capitalization Fund's gearing of last year was 0.
==> 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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Japan Smaller Capitalization Fund's current ratio of this year was 138.79084507. Japan Smaller Capitalization Fund's current ratio of last year was 153.85852824.
==> 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.
Japan Smaller Capitalization Fund's number of shares in issue this year was 28.354. Japan Smaller Capitalization Fund's number of shares in issue last year was 28.194.
==> There is larger number of shares in issue this year. ==> Score 0.
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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Japan Smaller Capitalization Fund's net margin of this year was 0.97358242. Japan Smaller Capitalization Fund's net margin of last year was 0.87004229.
==> This year's net margin is higher. ==> Score 1.
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
Japan Smaller Capitalization Fund's asset turnover of this year was 0.54637134. Japan Smaller Capitalization Fund's asset turnover of last year was 0.03237708.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Japan Smaller Capitalization Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Japan Smaller Capitalization Fund (JOF) has a Piotroski F-Score of 5 as of Jul. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Japan Smaller Capitalization Fund and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, Japan Smaller Capitalization Fund's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Japan Smaller Capitalization Fund ranks #567 out of 1598 companies in the Asset Management industry, placing it in the top 35.5%.
Is Japan Smaller Capitalization Fund's Piotroski F-Score too high?
Japan Smaller Capitalization Fund's current Piotroski F-Score of 5 is 25% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Asset Management industry median Piotroski F-Score is 5.00. Japan Smaller Capitalization Fund's value of 5 is 0% at this industry median. Based on the distribution chart, Japan Smaller Capitalization Fund ranks #567 out of 1598 companies in the Asset Management industry, which is above the industry midpoint. Overall, Japan Smaller Capitalization Fund has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Japan Smaller Capitalization Fund's Piotroski F-Score compare to PPT and SPXX?
According to the Asset Management industry distribution chart, Japan Smaller Capitalization Fund ranks #567 out of 1598 companies for Piotroski F-Score. This puts Japan Smaller Capitalization Fund in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Japan Smaller Capitalization Fund's value of 5 is 0% at this benchmark. Historically, Japan Smaller Capitalization Fund's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Japan Smaller Capitalization Fund has consistently been at 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 an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,598 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. Japan Smaller Capitalization Fund's current Piotroski F-Score of 5 is 0% at 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 Japan Smaller Capitalization Fund and its competitors. For the Asset Management industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Smaller Capitalization Fund's current Piotroski F-Score is 5, which is 25% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Smaller Capitalization Fund stock overvalued right now?
Japan Smaller Capitalization Fund (JOF) has a current Piotroski F-Score of 5. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Asset Management industry median of 5.00. Japan Smaller Capitalization Fund's overall GF Score™ is 37/100 with 2 warning signs 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 Japan Smaller Capitalization Fund (JOF), the current Piotroski F-Score is 5 as of Jul. 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.
Japan Smaller Capitalization Fund Business Description
Japan Smaller Capitalization Fund Inc is a closed-end management investment company. Its investment objective is to seek long-term capital appreciation through investments in smaller capitalization Japanese equity securities. Its portfolio of investments consists of different sectors such as banks, chemicals, construction, electric appliances, financing business, food, Information and Communication, Utilities, Real Estate, and others.
37GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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