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Turvo International CoTPE:2233 +1.57%74 Piotroski F-Score is 4 as of Aug. 04, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates TPE:2233 with a GF Score™ of 74/100 and a GF Value™ of NT$146.32 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,958 Industrial Products companies, Turvo International Co ranks worse than 65.38% 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
Turvo International 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 Turvo International Co's Piotroski F-Score or its related term are showing as below:
TPE:2233'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 4
During the past 13 years, the highest Piotroski F-Score of Turvo International Co was 8. The lowest was 4. And the median was 6.
Turvo International Co (TPE:2233) 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.
Turvo International Co Piotroski F-Score Related Terms
Turvo International Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Turvo International 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.
TPE:2233 vs GEV, ETN, PH: Piotroski F-Score Comparison
For the Specialty Industrial Machinery subindustry, Turvo International 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.
Turvo International Co Piotroski F-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Turvo International Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Turvo International 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 77.438 + 103.371 + 101.253 + 95.703 = NT$378 Mil. Cash Flow from Operations was 177.101 + 111.566 + 267.771 + 146.274 = NT$703 Mil. Revenue was 836.635 + 793.678 + 765.919 + 813.177 = NT$3,209 Mil. Gross Profit was 269.233 + 244.946 + 234.564 + 224.323 = NT$973 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(6221.835 + 6133.459 + 6375.783 + 6624.571 + 7121.201) / 5 = NT$6495.3698 Mil. Total Assets at the begining of this year (Mar25) was NT$6,222 Mil. Long-Term Debt & Capital Lease Obligation was NT$1,695 Mil. Total Current Assets was NT$4,205 Mil. Total Current Liabilities was NT$1,256 Mil.
Net Income was 181.348 + 187.364 + 142.564 + 121.699 = NT$633 Mil.
Revenue was 939.751 + 963.997 + 889.547 + 878.707 = NT$3,672 Mil. Gross Profit was 357.132 + 364.942 + 333.23 + 266.276 = NT$1,322 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(5505.505 + 5808.854 + 5931.674 + 6087.164 + 6221.835) / 5 = NT$5911.0064 Mil. Total Assets at the begining of last year (Mar24) was NT$5,506 Mil. Long-Term Debt & Capital Lease Obligation was NT$516 Mil. Total Current Assets was NT$3,172 Mil. Total Current Liabilities was NT$1,844 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.
Turvo International Co's current Net Income (TTM) was 378.
==> 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.
Turvo International Co's return on assets of this year was 0.06071601. Turvo International Co's return on assets of last year was 0.11497129.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Turvo International Co's gearing of this year was 0.26098098. Turvo International Co's gearing of last year was 0.08725519.
==> 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
Turvo International Co's current ratio of this year was 3.34835382. Turvo International Co's current ratio of last year was 1.72064232.
==> 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.
Turvo International Co's number of shares in issue this year was 64.246. Turvo International Co's number of shares in issue last year was 60.427.
==> 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.
Turvo International Co's gross margin of this year was 0.30319165. Turvo International Co's gross margin of last year was 0.35990721.
==> 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
Turvo International Co's asset turnover of this year was 0.51582998. Turvo International Co's asset turnover of last year was 0.66696915.
==> 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
Turvo International Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Turvo International Co (TPE:2233) has a Piotroski F-Score of 4 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Turvo International Co and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Turvo International Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Turvo International Co ranks #1934 out of 2958 companies in the Industrial Products industry, placing it in the top 65.4%.
Is Turvo International Co's Piotroski F-Score too high?
Turvo International Co's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Industrial Products industry median Piotroski F-Score is 5.00. Turvo International Co's value of 4 is 20% below this industry median. Based on the distribution chart, Turvo International Co ranks #1934 out of 2958 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Turvo International Co has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Turvo International Co's Piotroski F-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Turvo International Co ranks #1934 out of 2958 companies for Piotroski F-Score. This places Turvo International Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Turvo International Co's value of 4 is 20% below this benchmark. Historically, Turvo International Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Turvo International 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 an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,958 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. Turvo International 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 Turvo International Co and its competitors. For the Industrial Products 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. Turvo International Co's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Turvo International Co stock overvalued right now?
Based on GuruFocus' analysis, Turvo International Co (TPE:2233) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$146.32, compared to a current price of NT$193.50 — trading 32.2% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Industrial Products industry median of 5.00. Turvo International Co's overall GF Score™ is 74/100 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 Turvo International Co (TPE:2233), the current Piotroski F-Score is 4 as of Aug. 04, 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 Turvo International Co (TPE:2233) Overvalued in 2026?
Based on GuruFocus' analysis, Turvo International Co stock appears to be overvalued.
The current stock price of NT$193.50 is trading 32.2% above its estimated GF Value™ of NT$146.32.
GuruFocus considers Turvo International Co to be Significantly Overvalued.
Key valuation signals for TPE:2233:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: NT$146.32 vs. price of NT$193.50 (32.2% above fair value)
Industry Position: 20% below the Industrial Products median (#1934 of 2958)
No single metric tells the full story. See the TPE:2233 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Turvo International Co Ltd is a Taiwan-based company engaged in the manufacturing and marketing of air tools, machine elements, hardware parts, wood lathes, and wood planers used on these products. The Company also processes, manufactures, and markets optical elements. Its main products are connectors and sensors, which are mostly applied in automotive, medical, industrial, and electronics industries. It has two reportable segments as follows: The Taiwan segment produces, manufactures, and trades precision metal processing, including automobile, industrial application, and household application, etc. China segment produces, manufactures, and trades precision metal processing, including computer, medical equipment, optical, and precision metal hardware, etc.
74GF Score
Get the complete analysis for TPE:2233
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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