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Excelsior Medical CoTPE:4104 -1.13%87 Piotroski F-Score is 7 as of Aug. 03, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates TPE:4104 with a GF Score™ of 87/100 and a GF Value™ of NT$87.68 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 114 Medical Distribution companies, Excelsior Medical Co ranks better than 89.47% 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
Excelsior Medical 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 Excelsior Medical Co's Piotroski F-Score or its related term are showing as below:
TPE:4104'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Excelsior Medical Co was 8. The lowest was 2. And the median was 6.
Excelsior Medical Co (TPE:4104) 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.
Excelsior Medical Co Piotroski F-Score Related Terms
Excelsior Medical Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Excelsior Medical 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:4104 vs MCK, COR, CAH: Piotroski F-Score Comparison
For the Medical Distribution subindustry, Excelsior Medical 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.
Excelsior Medical Co Piotroski F-Score vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Excelsior Medical Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Excelsior Medical 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 229.822 + 186.918 + 193.877 + 205.18 = NT$816 Mil. Cash Flow from Operations was 99.773 + -254.405 + 241.419 + 223.998 = NT$311 Mil. Revenue was 2167.649 + 2191.704 + 2280.558 + 2342.958 = NT$8,983 Mil. Gross Profit was 467.525 + 457.795 + 493.278 + 499.286 = NT$1,918 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(18758.386 + 18429.283 + 18802.888 + 18977.197 + 19463.903) / 5 = NT$18886.3314 Mil. Total Assets at the begining of this year (Mar25) was NT$18,758 Mil. Long-Term Debt & Capital Lease Obligation was NT$680 Mil. Total Current Assets was NT$10,813 Mil. Total Current Liabilities was NT$6,343 Mil.
Net Income was 220.377 + 173.551 + 192.154 + 195.243 = NT$781 Mil.
Revenue was 2159.513 + 2059.156 + 2277.84 + 2149.325 = NT$8,646 Mil. Gross Profit was 422.012 + 439.564 + 509.814 + 455.773 = NT$1,827 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(18414.696 + 17690.457 + 21943.843 + 20368.001 + 18758.386) / 5 = NT$19435.0766 Mil. Total Assets at the begining of last year (Mar24) was NT$18,415 Mil. Long-Term Debt & Capital Lease Obligation was NT$704 Mil. Total Current Assets was NT$10,535 Mil. Total Current Liabilities was NT$6,867 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.
Excelsior Medical Co's current Net Income (TTM) was 816.
==> 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.
Excelsior Medical Co's return on assets of this year was 0.04348972. Excelsior Medical Co's return on assets of last year was 0.04242943.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Excelsior Medical Co's gearing of this year was 0.03601541. Excelsior Medical Co's gearing of last year was 0.03622749.
==> 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
Excelsior Medical Co's current ratio of this year was 1.7047849. Excelsior Medical Co's current ratio of last year was 1.53420248.
==> 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.
Excelsior Medical Co's number of shares in issue this year was 183.776. Excelsior Medical Co's number of shares in issue last year was 166.693.
==> 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.
Excelsior Medical Co's gross margin of this year was 0.21350462. Excelsior Medical Co's gross margin of last year was 0.2113345.
==> 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
Excelsior Medical Co's asset turnover of this year was 0.47887217. Excelsior Medical Co's asset turnover of last year was 0.46950729.
==> 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
Excelsior Medical Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Excelsior Medical Co (TPE:4104) has a Piotroski F-Score of 7 as of Aug. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Excelsior Medical Co and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Excelsior Medical Co's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Excelsior Medical Co ranks #12 out of 114 companies in the Medical Distribution industry, placing it in the top 10.5%.
Is Excelsior Medical Co's Piotroski F-Score too high?
Excelsior Medical Co's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Medical Distribution industry median Piotroski F-Score is 5.00. Excelsior Medical Co's value of 7 is 40% above this industry median. Based on the distribution chart, Excelsior Medical Co ranks #12 out of 114 companies in the Medical Distribution industry, which is in the top quartile — a strong position relative to peers. Overall, Excelsior Medical Co has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Excelsior Medical Co's Piotroski F-Score compare to MCK and COR?
According to the Medical Distribution industry distribution chart, Excelsior Medical Co ranks #12 out of 114 companies for Piotroski F-Score. This places Excelsior Medical Co in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Excelsior Medical Co's value of 7 is 40% above this benchmark. Historically, Excelsior Medical Co's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Excelsior Medical 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 Medical Distribution company?
The median Piotroski F-Score among Medical Distribution companies is 5.00, based on 114 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. Excelsior Medical 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 Excelsior Medical Co and its competitors. For the Medical Distribution 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. Excelsior Medical Co's current Piotroski F-Score is 7, which is 17% above 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 Excelsior Medical Co stock overvalued right now?
Based on GuruFocus' analysis, Excelsior Medical Co (TPE:4104) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$87.68, compared to a current price of NT$70.00 — trading 20.2% below its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Medical Distribution industry median of 5.00. Excelsior Medical Co's overall GF Score™ is 87/100 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 Excelsior Medical Co (TPE:4104), the current Piotroski F-Score is 7 as of Aug. 03, 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 Excelsior Medical Co (TPE:4104) Overvalued in 2026?
Based on GuruFocus' analysis, Excelsior Medical Co stock appears to be undervalued.
The current stock price of NT$70.00 is trading 20.2% below its estimated GF Value™ of NT$87.68.
GuruFocus considers Excelsior Medical Co to be Modestly Undervalued.
Key valuation signals for TPE:4104:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: NT$87.68 vs. price of NT$70.00 (20.2% below fair value)
Industry Position: 40% above the Medical Distribution median (#12 of 114)
No single metric tells the full story. See the TPE:4104 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Excelsior Medical Co Ltd is engaged in the sale of medical supplies and medicines, home medical devices, and medical equipment with brand names of local and foreign manufacturers. Its product offerings include Fasflo hollow fiber dialyzer, Renabio sodium chloride injection, acid concentrates, Sunder blood purification tubing set, JMS blood bags, etc. The Group's reportable segments include Excelsior, Dynamic, Arich, and Others. Maximum revenue is generated from the Excelsior segment. Geographically, it derives key revenue from Taiwan and also has a presence in Hong Kong, China, the Philippines, Malaysia, and Indonesia.
87GF Score
Get the complete analysis for TPE:4104
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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