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JoulWatt Technology CoSHSE:688141 +5.35%52 Piotroski F-Score is 3 as of Jul. 20, 2026, which is at its 10-year median of 3.00. GuruFocus rates SHSE:688141 with a GF Score™ of 52/100 and a GF Value™ of ¥56.30 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,428 Hardware companies, JoulWatt Technology Co ranks worse than 81.75% 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
JoulWatt Technology 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 JoulWatt Technology Co's Piotroski F-Score or its related term are showing as below:
SHSE:688141'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 5
Current: 3
During the past 8 years, the highest Piotroski F-Score of JoulWatt Technology Co was 5. The lowest was 1. And the median was 3.
JoulWatt Technology Co (SHSE:688141) 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.
JoulWatt Technology Co Piotroski F-Score Related Terms
JoulWatt Technology Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for JoulWatt Technology 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.
SHSE:688141 vs APH, GLW: Piotroski F-Score Comparison
For the Electronic Components subindustry, JoulWatt Technology 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.
JoulWatt Technology Co Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, JoulWatt Technology Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where JoulWatt Technology 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 -181.682 + -164.818 + -257.216 + -276.194 = ¥-880 Mil. Cash Flow from Operations was -122.014 + -57.352 + -168.953 + -375.027 = ¥-723 Mil. Revenue was 659.2 + 755.079 + 712.6 + 764.752 = ¥2,892 Mil. Gross Profit was 177.533 + 191.347 + 174.349 + 193.655 = ¥737 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(4068.365 + 5130.489 + 5201.698 + 5343.665 + 5614.864) / 5 = ¥5071.8162 Mil. Total Assets at the begining of this year (Mar25) was ¥4,068 Mil. Long-Term Debt & Capital Lease Obligation was ¥1,247 Mil. Total Current Assets was ¥2,721 Mil. Total Current Liabilities was ¥2,488 Mil.
Net Income was -127.874 + -170.021 + -96.346 + -113.408 = ¥-508 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.
JoulWatt Technology Co's current Net Income (TTM) was -880.
==> 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.
JoulWatt Technology Co's current Cash Flow from Operations (TTM) was -723.
==> 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.
JoulWatt Technology Co's return on assets of this year was -0.21628099. JoulWatt Technology Co's return on assets of last year was -0.12155382.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
JoulWatt Technology Co's gearing of this year was 0.24591802. JoulWatt Technology Co's gearing of last year was 0.24380956.
==> 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
JoulWatt Technology Co's current ratio of this year was 1.09337822. JoulWatt Technology Co's current ratio of last year was 2.81867975.
==> 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.
JoulWatt Technology Co's number of shares in issue this year was 452.777. JoulWatt Technology Co's number of shares in issue last year was 453.63.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
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.
JoulWatt Technology Co's gross margin of this year was 0.25483334. JoulWatt Technology Co's gross margin of last year was 0.27944554.
==> 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
JoulWatt Technology Co's asset turnover of this year was 0.71075997. JoulWatt Technology Co's asset turnover of last year was 0.44959583.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
JoulWatt Technology Co has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
JoulWatt Technology Co (SHSE:688141) has a Piotroski F-Score of 3 as of Jul. 20, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on JoulWatt Technology Co and its competitors. This is near median its historical median of 3.00. Over the past decade, JoulWatt Technology Co's Piotroski F-Score has ranged from 1.00 to 5.00. According to the industry distribution chart, JoulWatt Technology Co ranks #1985 out of 2428 companies in the Hardware industry, placing it in the top 81.8%.
Is JoulWatt Technology Co's Piotroski F-Score too high?
JoulWatt Technology Co's current Piotroski F-Score of 3 is near median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 5.00. The Hardware industry median Piotroski F-Score is 5.00. JoulWatt Technology Co's value of 3 is 40% below this industry median. Based on the distribution chart, JoulWatt Technology Co ranks #1985 out of 2428 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, JoulWatt Technology Co has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JoulWatt Technology Co's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, JoulWatt Technology Co ranks #1985 out of 2428 companies for Piotroski F-Score. This places JoulWatt Technology Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. JoulWatt Technology Co's value of 3 is 40% below this benchmark. Historically, JoulWatt Technology Co's own Piotroski F-Score has ranged from 1.00 to 5.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, JoulWatt Technology 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 2,428 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. JoulWatt Technology 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 JoulWatt Technology 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. JoulWatt Technology Co's current Piotroski F-Score is 3, which is near median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JoulWatt Technology Co stock overvalued right now?
Based on GuruFocus' analysis, JoulWatt Technology Co (SHSE:688141) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥56.30, compared to a current price of ¥120.59 — trading 114.2% above its estimated fair value. The current Piotroski F-Score is 3, which is near median its 10-year median of 3.00 and 40% below the Hardware industry median of 5.00. JoulWatt Technology Co's overall GF Score™ is 52/100 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 JoulWatt Technology Co (SHSE:688141), the current Piotroski F-Score is 3 as of Jul. 20, 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 JoulWatt Technology Co (SHSE:688141) Overvalued in 2026?
Based on GuruFocus' analysis, JoulWatt Technology Co stock appears to be overvalued.
The current stock price of ¥120.59 is trading 114.2% above its estimated GF Value™ of ¥56.30.
GuruFocus considers JoulWatt Technology Co to be Significantly Overvalued.
Key valuation signals for SHSE:688141:
Piotroski F-Score: 3 (near median its 10-year median of 3.00)
GF Value™: ¥56.30 vs. price of ¥120.59 (114.2% above fair value)
Industry Position: 40% below the Hardware median (#1985 of 2428)
No single metric tells the full story. See the SHSE:688141 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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