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Rayzher Industrial CoROCO:7703 -1.93%46 Piotroski F-Score is 4 as of Aug. 09, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates ROCO:7703 with a GF Score™ of 46/100. The stock has 4 warning signs investors should review. Among 1,736 Construction companies, Rayzher Industrial Co ranks worse than 66.47% 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
Rayzher Industrial 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 Rayzher Industrial Co's Piotroski F-Score or its related term are showing as below:
ROCO:7703'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 6
Current: 4
During the past 7 years, the highest Piotroski F-Score of Rayzher Industrial Co was 6. The lowest was 3. And the median was 5.
Rayzher Industrial Co (ROCO:7703) 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.
Rayzher Industrial Co Piotroski F-Score Related Terms
Rayzher Industrial Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Rayzher Industrial 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:7703 vs PWR, FIX, EME: Piotroski F-Score Comparison
For the Engineering & Construction subindustry, Rayzher Industrial 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.
Rayzher Industrial Co Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, Rayzher Industrial Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Rayzher Industrial 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 (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 98.639 + 67.562 + 68.552 + 37.557 = NT$272 Mil. Cash Flow from Operations was 36.837 + 31.188 + 252.349 + -166.377 = NT$154 Mil. Revenue was 677.524 + 600.505 + 786.744 + 539.517 = NT$2,604 Mil. Gross Profit was 170.775 + 131.623 + 164.758 + 111.093 = NT$578 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2586.529 + 2883.116 + 2798.524 + 2946.047 + 3095.989) / 5 = NT$2862.041 Mil. Total Assets at the begining of this year (Mar25) was NT$2,587 Mil. Long-Term Debt & Capital Lease Obligation was NT$42 Mil. Total Current Assets was NT$2,424 Mil. Total Current Liabilities was NT$1,111 Mil.
Net Income was 40.107 + 48.315 + 85.723 + 68.106 = NT$242 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.
Rayzher Industrial Co's current Net Income (TTM) was 272.
==> 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.
Rayzher Industrial Co's return on assets of this year was 0.10528009. Rayzher Industrial Co's return on assets of last year was 0.11611602.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Rayzher Industrial Co's gearing of this year was 0.01457247. Rayzher Industrial Co's gearing of last year was 0.00740405.
==> 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
Rayzher Industrial Co's current ratio of this year was 2.18230591. Rayzher Industrial Co's current ratio of last year was 3.37786936.
==> 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.
Rayzher Industrial Co's number of shares in issue this year was 34.775. Rayzher Industrial Co's number of shares in issue last year was 34.748.
==> 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.
Rayzher Industrial Co's gross margin of this year was 0.2220371. Rayzher Industrial Co's gross margin of last year was 0.20859829.
==> 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
Rayzher Industrial Co's asset turnover of this year was 1.00686673. Rayzher Industrial Co's asset turnover of last year was 0.99054156.
==> 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
Rayzher Industrial Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Rayzher Industrial Co (ROCO:7703) has a Piotroski F-Score of 4 as of Aug. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Rayzher Industrial Co and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Rayzher Industrial Co's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, Rayzher Industrial Co ranks #1154 out of 1736 companies in the Construction industry, placing it in the top 66.5%.
Is Rayzher Industrial Co's Piotroski F-Score too high?
Rayzher Industrial Co's current Piotroski F-Score of 4 is 20% 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 6.00. The Construction industry median Piotroski F-Score is 5.00. Rayzher Industrial Co's value of 4 is 20% below this industry median. Based on the distribution chart, Rayzher Industrial Co ranks #1154 out of 1736 companies in the Construction industry, which is below the industry midpoint. Overall, Rayzher Industrial Co has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Rayzher Industrial Co's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Rayzher Industrial Co ranks #1154 out of 1736 companies for Piotroski F-Score. This places Rayzher Industrial Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Rayzher Industrial Co's value of 4 is 20% below this benchmark. Historically, Rayzher Industrial Co's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Rayzher Industrial 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,736 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. Rayzher Industrial 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 Rayzher Industrial Co and its competitors. For the Construction 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. Rayzher Industrial Co's current Piotroski F-Score is 4, which is 20% 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 Rayzher Industrial Co stock overvalued right now?
Rayzher Industrial Co (ROCO:7703) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Construction industry median of 5.00. Rayzher Industrial Co's overall GF Score™ is 46/100 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 Rayzher Industrial Co (ROCO:7703), the current Piotroski F-Score is 4 as of Aug. 09, 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.
Rayzher Industrial Co Ltd is engaged mainly in the piping design, planning, and engineering management of equipment and facility systems related to high tech plants; the agency, manufacture, and installation of special gas supply systems; and the import and export sales of instruments, materials, and spare parts required for semiconductor equipment.
46GF Score
Get the complete analysis for ROCO:7703
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