Kioxia HoldingsKXIAY -12.76%18 Piotroski F-Score is 7 as of Jul. 01, 2026, which is at its 10-year median of 7.00. GuruFocus rates KXIAY with a GF Score™ of 18/100. The stock has 2 warning signs investors should review. Among 989 Semiconductors companies, Kioxia Holdings ranks better than 93.23% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kioxia Holdings 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 Kioxia Holdings's Piotroski F-Score or its related term are showing as below:
KXIAY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 7 Med: 7 Max: 7
Current: 7
During the past 5 years, the highest Piotroski F-Score of Kioxia Holdings was 7. The lowest was 7. And the median was 7.
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.
Kioxia Holdings Piotroski F-Score Related Terms
Kioxia Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Kioxia Holdings'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.
KXIAY vs NVDA, AVGO, MU: Piotroski F-Score Comparison
For the Semiconductors subindustry, Kioxia Holdings'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.
Kioxia Holdings Piotroski F-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Kioxia Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kioxia Holdings'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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 126.547 + 274.957 + 941.256 + 2198.059 = $3,541 Mil. Cash Flow from Operations was 422.927 + 771.296 + 2066.299 + 751.317 = $4,012 Mil. Revenue was 2372.582 + 3032.174 + 8560.921 + 1334.153 = $15,300 Mil. Gross Profit was 492.644 + 826.022 + 2372.812 + 2833.516 = $6,525 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(19587.589 + 20030.128 + 20168.812 + 20490.921 + 23254.4) / 5 = $20706.37 Mil. Total Assets at the begining of this year (Mar25) was $19,588 Mil. Long-Term Debt & Capital Lease Obligation was $6,515 Mil. Total Current Assets was $10,195 Mil. Total Current Liabilities was $6,920 Mil.
Net Income was 15.793 + 0 + 494.544 + 135.968 = $646 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.
Kioxia Holdings's current Net Income (TTM) was 3,541.
==> 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.
Kioxia Holdings's return on assets of this year was 0.1807685. Kioxia Holdings's return on assets of last year was 0.02559854.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Kioxia Holdings's gearing of this year was 0.31463999. Kioxia Holdings's gearing of last year was 0.23194079.
==> Last year is lower than this year ==> Score 0.
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
Kioxia Holdings's current ratio of this year was 1.47342192. Kioxia Holdings's current ratio of last year was 0.8188501.
==> This year's current ratio is higher. ==> Score 1.
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.
Kioxia Holdings's number of shares in issue this year was 5494.609. Kioxia Holdings's number of shares in issue last year was 5283.02.
==> 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.
Kioxia Holdings's gross margin of this year was 0.42647493. Kioxia Holdings's gross margin of last year was 0.24477792.
==> This year's gross 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
Kioxia Holdings's asset turnover of this year was 0.78109817. Kioxia Holdings's asset turnover of last year was 0.30656672.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kioxia Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Kioxia Holdings (KXIAY) has a Piotroski F-Score of 7 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Kioxia Holdings and its competitors. This is near median its historical median of 7.00. Over the past decade, Kioxia Holdings' Piotroski F-Score has ranged from 7.00 to 7.00. According to the industry distribution chart, Kioxia Holdings ranks #67 out of 989 companies in the Semiconductors industry, placing it in the top 6.8%.
Is Kioxia Holdings' Piotroski F-Score too high?
Kioxia Holdings' current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 7.00 to a high of 7.00. The Semiconductors industry median Piotroski F-Score is 5.00. Kioxia Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Kioxia Holdings ranks #67 out of 989 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Kioxia Holdings has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Kioxia Holdings' Piotroski F-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Kioxia Holdings ranks #67 out of 989 companies for Piotroski F-Score. This places Kioxia Holdings in the top 7% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Kioxia Holdings' value of 7 is 40% above this benchmark. Historically, Kioxia Holdings' own Piotroski F-Score has ranged from 7.00 to 7.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Kioxia Holdings has consistently been above 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 Semiconductors company?
The median Piotroski F-Score among Semiconductors companies is 5.00, based on 989 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. Kioxia Holdings's current Piotroski F-Score of 7 is 40% above 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 Kioxia Holdings and its competitors. For the Semiconductors 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. Kioxia Holdings's current Piotroski F-Score is 7, which is near median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kioxia Holdings stock overvalued right now?
Kioxia Holdings (KXIAY) has a current Piotroski F-Score of 7. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 40% above the Semiconductors industry median of 5.00. Kioxia Holdings' overall GF Score™ is 18/100 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 Kioxia Holdings (KXIAY), the current Piotroski F-Score is 7 as of Jul. 01, 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.
Kioxia Holdings is a Japan-based semiconductor memory manufacturer focusing on NAND memory chips. The company is currently the third-largest NAND supplier globally, with a 14% market share as of 2024. The largest single shareholder of Kioxia is currently Toshiba, which had a 21.9% stake as of November 2025. Kioxia operates nine fabs across Japan: seven in Yokkaichi and two in Kitakami. They are mostly run via a joint venture with Sandisk, Flash Ventures. Flash Ventures is 51% owned by Kioxia. The company's memory chips are used in various consumer electronics and enterprise infrastructure, such as PCs, smartphones, servers, and USB sticks. Of Kioxia's revenue, 51% comes from the sales of NAND memory used in solid-state drives, which are used in PCs and servers.
18GF Score
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