Johnson Fine Chemical Co (ROCO:7763) Piotroski F-Score: 7 (As of Jul. 13, 2026) — Near Median


ROCO:7763 Johnson Fine Chemical Co Ltd ROCO:7763
26 GF Score
Price NT$163.00
! 1 Warning Sign
View Full Analysis

What is Johnson Fine Chemical Co Piotroski F-Score?

Johnson Fine Chemical Co ROCO:7763 26 Piotroski F-Score is 7 as of Jul. 13, 2026, which is at its 10-year median of 7.00. GuruFocus rates ROCO:7763 with a GF Score™ of 26/100. The stock has 1 warning sign investors should review. Among 1,563 Chemicals companies, Johnson Fine Chemical Co ranks better than 90.08% 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

Johnson Fine Chemical Co 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 Johnson Fine Chemical Co's Piotroski F-Score or its related term are showing as below:

ROCO:7763' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 8
Current: 7

During the past 5 years, the highest Piotroski F-Score of Johnson Fine Chemical Co was 8. The lowest was 5. And the median was 7.

Johnson Fine Chemical Co  (ROCO:7763) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Johnson Fine Chemical Co Piotroski F-Score Related Terms


Johnson Fine Chemical Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Johnson Fine Chemical 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.

Johnson Fine Chemical Co Piotroski F-Score Chart

Johnson Fine Chemical Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
N/A N/A 5.00 8.00 7.00

Johnson Fine Chemical Co Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Piotroski F-Score Get a 7-Day Free Trial 5.00 0.00 8.00 0.00 7.00

ROCO:7763 vs LIN, SHW, ECL: Piotroski F-Score Comparison

For the Specialty Chemicals subindustry, Johnson Fine Chemical 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.


Johnson Fine Chemical Co Piotroski F-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Johnson Fine Chemical Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Johnson Fine Chemical Co's Piotroski F-Score falls into.


ROCO:7763
26GF Score
Johnson Fine Chemical Co Ltd ROCO:7763
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was NT$220 Mil.
Cash Flow from Operations was NT$321 Mil.
Revenue was NT$1,023 Mil.
Gross Profit was NT$419 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (1483.727 + 1588.501) / 2 = NT$1536.114 Mil.
Total Assets at the begining of this year (Dec24) was NT$1,484 Mil.
Long-Term Debt & Capital Lease Obligation was NT$0 Mil.
Total Current Assets was NT$1,102 Mil.
Total Current Liabilities was NT$188 Mil.
Net Income was NT$179 Mil.

Revenue was NT$1,011 Mil.
Gross Profit was NT$371 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (1258.398 + 1483.727) / 2 = NT$1371.0625 Mil.
Total Assets at the begining of last year (Dec23) was NT$1,258 Mil.
Long-Term Debt & Capital Lease Obligation was NT$0 Mil.
Total Current Assets was NT$951 Mil.
Total Current Liabilities was NT$200 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.

Johnson Fine Chemical Co's current Net Income (TTM) was 220. ==> 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.

Johnson Fine Chemical Co's current Cash Flow from Operations (TTM) was 321. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec24)
=219.596/1483.727
=0.14800297

ROA (Last Year)=Net Income/Total Assets (Dec23)
=178.649/1258.398
=0.14196542

Johnson Fine Chemical Co's return on assets of this year was 0.14800297. Johnson Fine Chemical Co's return on assets of last year was 0.14196542. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Johnson Fine Chemical Co's current Net Income (TTM) was 220. Johnson Fine Chemical Co's current Cash Flow from Operations (TTM) was 321. ==> 321 > 220 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=0/1536.114
=0

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/1371.0625
=0

Johnson Fine Chemical Co's gearing of this year was 0. Johnson Fine Chemical 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=1101.974/188.386
=5.84955358

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=950.753/199.607
=4.76312454

Johnson Fine Chemical Co's current ratio of this year was 5.84955358. Johnson Fine Chemical Co's current ratio of last year was 4.76312454. ==> 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.

Johnson Fine Chemical Co's number of shares in issue this year was 60.044. Johnson Fine Chemical Co's number of shares in issue last year was 59.099. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=419.302/1023.432
=0.40970187

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=370.829/1011.248
=0.36670431

Johnson Fine Chemical Co's gross margin of this year was 0.40970187. Johnson Fine Chemical Co's gross margin of last year was 0.36670431. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=1023.432/1483.727
=0.6897711

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1011.248/1258.398
=0.8035995

Johnson Fine Chemical Co's asset turnover of this year was 0.6897711. Johnson Fine Chemical Co's asset turnover of last year was 0.8035995. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Johnson Fine Chemical Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Johnson Fine Chemical Co (ROCO:7763) has a Piotroski F-Score of 7 as of Jul. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Johnson Fine Chemical Co and its competitors. This is near median its historical median of 7.00. Over the past decade, Johnson Fine Chemical Co's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Johnson Fine Chemical Co ranks #155 out of 1563 companies in the Chemicals industry, placing it in the top 9.9%.
Is Johnson Fine Chemical Co's Piotroski F-Score too high?
Johnson Fine Chemical Co's 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 5.00 to a high of 8.00. The Chemicals industry median Piotroski F-Score is 5.00. Johnson Fine Chemical Co's value of 7 is 40% above this industry median. Based on the distribution chart, Johnson Fine Chemical Co ranks #155 out of 1563 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Johnson Fine Chemical Co has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Johnson Fine Chemical Co's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Johnson Fine Chemical Co ranks #155 out of 1563 companies for Piotroski F-Score. This places Johnson Fine Chemical Co in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Johnson Fine Chemical Co's value of 7 is 40% above this benchmark. Historically, Johnson Fine Chemical Co's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Johnson Fine Chemical Co 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,563 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. Johnson Fine Chemical Co'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 Johnson Fine Chemical 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. Johnson Fine Chemical Co'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 Johnson Fine Chemical Co stock overvalued right now?
Johnson Fine Chemical Co (ROCO:7763) 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 Chemicals industry median of 5.00. Johnson Fine Chemical Co's overall GF Score™ is 26/100 with 1 warning sign 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 Johnson Fine Chemical Co (ROCO:7763), the current Piotroski F-Score is 7 as of Jul. 13, 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.

Johnson Fine Chemical Co Business Description

Address Road. 33. Taichung Industry Park, No. 14, Taichung City, TWN
Johnson Fine Chemical Co Ltd manufactures amine-based and isocyanate-based hardenders/curing agents for CASE fields (Casting, Adhesive, Sealant, Elastomer), such as MOCA. The group is devoted to developing specialty chemicals including specialty raw materials such as monofunctional isocyanate, 1,5-diisocyanate-naphthalene, dimethylation diamino thouene, etc. Its products are Amine Curing Agent, Isocyanate Curing Agent, Isocyanate Crosslinker, Dehydrating Agent, Cesium Tungsten Oxide, and Coating System.
26GF Score

Get the complete analysis for ROCO:7763

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$163.00
Price