Top Bright Holding CoTPE:8499 -1.80%82 Piotroski F-Score is 6 as of Jun. 27, 2026, which is at its 10-year median of 6.00. GuruFocus rates TPE:8499 with a GF Score™ of 82/100 and a GF Value™ of NT$219.95 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 2,426 Hardware companies, Top Bright Holding Co ranks better than 77.95% 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
Top Bright Holding Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Top Bright Holding Co's Piotroski F-Score or its related term are showing as below:
TPE:8499'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of Top Bright Holding Co was 7. The lowest was 3. And the median was 6.
Top Bright Holding Co (TPE:8499) 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.
Top Bright Holding Co Piotroski F-Score Related Terms
Top Bright Holding Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Top Bright Holding 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:8499 vs APH, GLW, TEL: Piotroski F-Score Comparison
For the Electronic Components subindustry, Top Bright Holding 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.
Top Bright Holding Co Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Top Bright Holding Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Top Bright Holding 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 (Dec25) TTM:
Last Year (Dec24) TTM:
Net Income was 114.649 + 26.754 + 120.577 + 156.038 = NT$418 Mil. Cash Flow from Operations was 157.352 + 39.479 + 38.534 + 253.084 = NT$488 Mil. Revenue was 518.434 + 513.106 + 747.212 + 1133.808 = NT$2,913 Mil. Gross Profit was 249.89 + 204.872 + 324.336 + 507.466 = NT$1,287 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was
(12214.476 + 12536.025 + 11176.752 + 15280.551 + 15949.136) / 5 = NT$13431.388 Mil. Total Assets at the begining of this year (Dec24) was NT$12,214 Mil. Long-Term Debt & Capital Lease Obligation was NT$1,224 Mil. Total Current Assets was NT$9,216 Mil. Total Current Liabilities was NT$2,527 Mil.
Net Income was 100.412 + 82.526 + 95.5 + 183.791 = NT$462 Mil.
Revenue was 411.855 + 525.258 + 546.429 + 554.991 = NT$2,039 Mil. Gross Profit was 165.07 + 192.149 + 243.594 + 285.001 = NT$886 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was
(11230.901 + 11828.957 + 11928.12 + 11838.797 + 12214.476) / 5 = NT$11808.2502 Mil. Total Assets at the begining of last year (Dec23) was NT$11,231 Mil. Long-Term Debt & Capital Lease Obligation was NT$145 Mil. Total Current Assets was NT$8,742 Mil. Total Current Liabilities was NT$582 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.
Top Bright Holding Co's current Net Income (TTM) was 418.
==> 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.
Top Bright Holding Co's return on assets of this year was 0.03422316. Top Bright Holding Co's return on assets of last year was 0.04115689.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Top Bright Holding Co's gearing of this year was 0.09112193. Top Bright Holding Co's gearing of last year was 0.01228192.
==> 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
Top Bright Holding Co's current ratio of this year was 3.64672906. Top Bright Holding Co's current ratio of last year was 15.02663928.
==> 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.
Top Bright Holding Co's number of shares in issue this year was 41.19. Top Bright Holding Co's number of shares in issue last year was 41.618.
==> 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.
Top Bright Holding Co's gross margin of this year was 0.44172961. Top Bright Holding Co's gross margin of last year was 0.43453503.
==> 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
Top Bright Holding Co's asset turnover of this year was 0.23845149. Top Bright Holding Co's asset turnover of last year was 0.18151108.
==> 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
Top Bright Holding Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Top Bright Holding Co (TPE:8499) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Top Bright Holding Co and its competitors. This is near median its historical median of 6.00. Over the past decade, Top Bright Holding Co's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Top Bright Holding Co ranks #535 out of 2426 companies in the Hardware industry, placing it in the top 22.1%.
Is Top Bright Holding Co's Piotroski F-Score too high?
Top Bright Holding Co's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. Top Bright Holding Co's value of 6 is 20% above this industry median. Based on the distribution chart, Top Bright Holding Co ranks #535 out of 2426 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Top Bright Holding Co has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Top Bright Holding Co's Piotroski F-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Top Bright Holding Co ranks #535 out of 2426 companies for Piotroski F-Score. This places Top Bright Holding Co in the top 22% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Top Bright Holding Co's value of 6 is 20% above this benchmark. Historically, Top Bright Holding Co's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Top Bright Holding 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,426 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. Top Bright Holding Co's current Piotroski F-Score of 6 is 20% 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 Top Bright Holding 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. Top Bright Holding Co's current Piotroski F-Score is 6, which is near 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 Top Bright Holding Co stock overvalued right now?
Based on GuruFocus' analysis, Top Bright Holding Co (TPE:8499) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$219.95, compared to a current price of NT$300.00 — trading 36.4% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Hardware industry median of 5.00. Top Bright Holding Co's overall GF Score™ is 82/100 with 6 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 Top Bright Holding Co (TPE:8499), the current Piotroski F-Score is 6 as of Jun. 27, 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 Top Bright Holding Co (TPE:8499) Overvalued in 2026?
Based on GuruFocus' analysis, Top Bright Holding Co stock appears to be overvalued.
The current stock price of NT$300.00 is trading 36.4% above its estimated GF Value™ of NT$219.95.
GuruFocus considers Top Bright Holding Co to be Significantly Overvalued.
Key valuation signals for TPE:8499:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: NT$219.95 vs. price of NT$300.00 (36.4% above fair value)
Industry Position: 20% above the Hardware median (#535 of 2426)
No single metric tells the full story. See the TPE:8499 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Top Bright Holding Co Ltd is a Taiwan-based company engaged in the research, manufacture, and sale of electronic weighing and electronic materials. The company operates through two segments namely Electronic Materials Department and The Scales Department. It generates maximum revenue from the Electronic Material segment. The company's products include Conductive tape, Conductive foam, Conductive film, Insulation Tape, Shock-absorbing sealing material, Thermal interface material, Smart Barcode Scale, Smart weighing instrument, Traceability scale, and others. Geographically, it derives a majority of its revenue from China and also has a presence in Asia, Europe, America, Africa, and Oceania.
82GF Score
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