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New Era Electronics CoROCO:4909 +0.53%50 Piotroski F-Score is 3 as of Aug. 26, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates ROCO:4909 with a GF Score™ of 50/100 and a GF Value™ of NT$14.03 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,440 Hardware companies, New Era Electronics Co ranks worse than 81.64% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Era Electronics Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for New Era Electronics Co's Piotroski F-Score or its related term are showing as below:
ROCO:4909'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 3
During the past 13 years, the highest Piotroski F-Score of New Era Electronics Co was 9. The lowest was 3. And the median was 5.
New Era Electronics Co (ROCO:4909) 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.
New Era Electronics Co Piotroski F-Score Related Terms
New Era Electronics Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for New Era Electronics Co'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.
ROCO:4909 vs APH, GLW, TEL: Piotroski F-Score Comparison
For the Electronic Components subindustry, New Era Electronics Co'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.
New Era Electronics Co Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, New Era Electronics Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where New Era Electronics Co'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 (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 57.473 + 19.847 + 4.309 + -12.398 = NT$69.2 Mil. Cash Flow from Operations was -155.742 + -17.198 + -48.702 + 4.305 = NT$-217.3 Mil. Revenue was 71.232 + 55.126 + 51.692 + 51.783 = NT$229.8 Mil. Gross Profit was -7.159 + -14.827 + -10.246 + -15.667 = NT$-47.9 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3239.979 + 2676.29 + 2691.402 + 2682.297 + 2680.249) / 5 = NT$2794.0434 Mil. Total Assets at the begining of this year (Jun25) was NT$3,240.0 Mil. Long-Term Debt & Capital Lease Obligation was NT$0.0 Mil. Total Current Assets was NT$2,333.4 Mil. Total Current Liabilities was NT$111.8 Mil.
Net Income was 482.403 + 158.444 + 3.742 + -197.718 = NT$446.9 Mil.
Revenue was 1075.243 + 571.406 + 118.699 + 51.518 = NT$1,816.9 Mil. Gross Profit was 417.593 + 189.065 + 1.194 + -9.213 = NT$598.6 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3188.162 + 3829.1 + 3737.946 + 3676.841 + 3239.979) / 5 = NT$3534.4056 Mil. Total Assets at the begining of last year (Jun24) was NT$3,188.2 Mil. Long-Term Debt & Capital Lease Obligation was NT$0.0 Mil. Total Current Assets was NT$2,851.0 Mil. Total Current Liabilities was NT$760.6 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.
New Era Electronics Co's current Net Income (TTM) was 69.2.
==> 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.
New Era Electronics Co's current Cash Flow from Operations (TTM) was -217.3.
==> 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.
New Era Electronics Co's return on assets of this year was 0.02136773. New Era Electronics Co's return on assets of last year was 0.14016571.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
New Era Electronics Co's gearing of this year was 0. New Era Electronics Co'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
New Era Electronics Co's current ratio of this year was 20.86716507. New Era Electronics Co's current ratio of last year was 3.74854186.
==> 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.
New Era Electronics Co's number of shares in issue this year was 95.369. New Era Electronics Co's number of shares in issue last year was 93.263.
==> 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.
New Era Electronics Co's gross margin of this year was -0.20840784. New Era Electronics Co's gross margin of last year was 0.3294899.
==> 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
New Era Electronics Co's asset turnover of this year was 0.07093657. New Era Electronics Co's asset turnover of last year was 0.56987882.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Era Electronics Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
New Era Electronics Co (ROCO:4909) has a Piotroski F-Score of 3 as of Aug. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on New Era Electronics Co and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, New Era Electronics Co's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, New Era Electronics Co ranks #1992 out of 2440 companies in the Hardware industry, placing it in the top 81.6%.
Is New Era Electronics Co's Piotroski F-Score too high?
New Era Electronics Co's current Piotroski F-Score of 3 is 40% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Hardware industry median Piotroski F-Score is 5.00. New Era Electronics Co's value of 3 is 40% below this industry median. Based on the distribution chart, New Era Electronics Co ranks #1992 out of 2440 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, New Era Electronics Co has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does New Era Electronics Co's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, New Era Electronics Co ranks #1992 out of 2440 companies for Piotroski F-Score. This places New Era Electronics Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. New Era Electronics Co's value of 3 is 40% below this benchmark. Historically, New Era Electronics Co's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, New Era Electronics Co 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,440 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. New Era Electronics Co's current Piotroski F-Score of 3 is 40% 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 New Era Electronics Co and its competitors. For the Hardware 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. New Era Electronics Co's current Piotroski F-Score is 3, which is 40% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Era Electronics Co stock overvalued right now?
Based on GuruFocus' analysis, New Era Electronics Co (ROCO:4909) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$14.03, compared to a current price of NT$37.90 — trading 170.1% above its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Hardware industry median of 5.00. New Era Electronics Co's overall GF Score™ is 50/100 with 5 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 New Era Electronics Co (ROCO:4909), the current Piotroski F-Score is 3 as of Aug. 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 New Era Electronics Co (ROCO:4909) Overvalued in 2026?
Based on GuruFocus' analysis, New Era Electronics Co stock appears to be overvalued.
The current stock price of NT$37.90 is trading 170.1% above its estimated GF Value™ of NT$14.03.
GuruFocus considers New Era Electronics Co to be Significantly Overvalued.
Key valuation signals for ROCO:4909:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: NT$14.03 vs. price of NT$37.90 (170.1% above fair value)
Industry Position: 40% below the Hardware median (#1992 of 2440)
No single metric tells the full story. See the ROCO:4909 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Era Electronics Co Ltd is a Taiwan-based company that engages in the manufacture, and sale of printed circuit boards (PCB). The company is also engaged in the import and export of electronic products, electronic component manufacturing, telecommunications construction, wholesale of telecommunications apparatus, and wholesale and retail sales of electronic materials. The products of the company include high-frequency (HF) microwave communication substrates and printed circuit boards (PCBs).
50GF Score
Get the complete analysis for ROCO:4909
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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