Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ION Electronic Materials Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for ION Electronic Materials Co's Piotroski F-Score or its related term are showing as below:
ROCO:6959'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 4 Max: 5
Current: 4
During the past 7 years, the highest Piotroski F-Score of ION Electronic Materials Co was 5. The lowest was 4. And the median was 4.
ION Electronic Materials Co (ROCO:6959) 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.
ION Electronic Materials Co Piotroski F-Score Related Terms
ION Electronic Materials Co 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.
ION Electronic Materials Co Piotroski F-Score Chart
ROCO:6959 vs LIN, SHW, ECL: Piotroski F-Score Comparison
For the Specialty Chemicals subindustry, ION Electronic Materials 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.
ION Electronic Materials Co Piotroski F-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, ION Electronic Materials Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ION Electronic Materials 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.
*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.
ION Electronic Materials Co's current Net Income (TTM) was -95.7.
==> Negative ==> Score 0.
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.
ION Electronic Materials Co's current Cash Flow from Operations (TTM) was -102.7.
==> 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.
ION Electronic Materials Co's return on assets of this year was -0.04843292. ION Electronic Materials Co's return on assets of last year was -0.02497976.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ION Electronic Materials Co's gearing of this year was 0.24719095. ION Electronic Materials Co's gearing of last year was 0.25486019.
==> 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
ION Electronic Materials Co's current ratio of this year was 4.1004078. ION Electronic Materials Co's current ratio of last year was 2.94303329.
==> 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.
ION Electronic Materials Co's number of shares in issue this year was 35.401. ION Electronic Materials Co's number of shares in issue last year was 34.124.
==> 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.
ION Electronic Materials Co's gross margin of this year was 0.13967941. ION Electronic Materials Co's gross margin of last year was 0.07335721.
==> 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
ION Electronic Materials Co's asset turnover of this year was 0.35871621. ION Electronic Materials Co's asset turnover of last year was 0.29261457.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ION Electronic Materials Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
ION Electronic Materials Co (ROCO:6959) has a Piotroski F-Score of 4 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ION Electronic Materials Co and its competitors. This is near median its historical median of 4.00. Over the past decade, ION Electronic Materials Co's Piotroski F-Score has ranged from 4.00 to 5.00. According to the industry distribution chart, ION Electronic Materials Co ranks #1017 out of 1564 companies in the Chemicals industry, placing it in the top 65%.
Is ION Electronic Materials Co's Piotroski F-Score too high?
ION Electronic Materials Co's current Piotroski F-Score of 4 is near median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 5.00. The Chemicals industry median Piotroski F-Score is 5.00. ION Electronic Materials Co's value of 4 is 20% below this industry median. Based on the distribution chart, ION Electronic Materials Co ranks #1017 out of 1564 companies in the Chemicals industry, which is below the industry midpoint. Overall, ION Electronic Materials Co has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ION Electronic Materials Co's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, ION Electronic Materials Co ranks #1017 out of 1564 companies for Piotroski F-Score. This places ION Electronic Materials Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. ION Electronic Materials Co's value of 4 is 20% below this benchmark. Historically, ION Electronic Materials Co's own Piotroski F-Score has ranged from 4.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, ION Electronic Materials 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,564 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. ION Electronic Materials Co's current Piotroski F-Score of 4 is 20% 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 ION Electronic Materials Co and its competitors. For the Chemicals 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. ION Electronic Materials Co's current Piotroski F-Score is 4, which is near 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 ION Electronic Materials Co stock overvalued right now?
Based on GuruFocus' analysis, ION Electronic Materials Co (ROCO:6959) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$89.67, compared to a current price of NT$130.50 — trading 45.5% above its estimated fair value. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 20% below the Chemicals industry median of 5.00. ION Electronic Materials Co's overall GF Score™ is 51/100 with 4 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 ION Electronic Materials Co (ROCO:6959), the current Piotroski F-Score is 4 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.
Is ION Electronic Materials Co (ROCO:6959) Overvalued in 2026?
Based on GuruFocus' analysis, ION Electronic Materials Co stock appears to be overvalued.
The current stock price of NT$130.50 is trading 45.5% above its estimated GF Value™ of NT$89.67.
GuruFocus considers ION Electronic Materials Co to be Significantly Overvalued.
Key valuation signals for ROCO:6959:
Piotroski F-Score: 4 (near median its 10-year median of 4.00)
GF Value™: NT$89.67 vs. price of NT$130.50 (45.5% above fair value)
Industry Position: 20% below the Chemicals median (#1017 of 1564)
No single metric tells the full story. See the ROCO:6959 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ION Electronic Materials Co Ltd focuses on special materials for the electronics industry and provides local services, With development capabilities and multi-national patents, it looks forward to contributing to Taiwan's technology industry. Its main products are advanced semiconductor materials. It has negative pressure steel cylinder production technology and localized production advantages. It has passed ISO 9001 certification and is a supplier partner of major semiconductor factories.
51GF Score
Get the complete analysis for ROCO:6959
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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