Masaru (TSE:1795) Piotroski F-Score: 7 (As of Jul. 13, 2026) — 40% Above Median


TSE:1795 Masaru Corp TSE:1795
68 GF Score
Price 円5,200.00
GF Value 円4,531.80
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Masaru Piotroski F-Score?

Masaru TSE:1795 +4.31% 68 Piotroski F-Score is 7 as of Jul. 13, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates TSE:1795 with a GF Score™ of 68/100 and a GF Value™ of 円4,531.80 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,730 Construction companies, Masaru ranks better than 89.19% 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

Masaru 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 Masaru's Piotroski F-Score or its related term are showing as below:

TSE:1795' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Masaru was 8. The lowest was 2. And the median was 5.

Masaru  (TSE:1795) 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.


Masaru Piotroski F-Score Related Terms


Masaru Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Masaru'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.

Masaru Piotroski F-Score Chart

Masaru Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 3.00 6.00 4.00 7.00

Masaru Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 7.00 0.00 0.00

TSE:1795 vs PWR, FIX, EME: Piotroski F-Score Comparison

For the Engineering & Construction subindustry, Masaru'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.


Masaru Piotroski F-Score vs Construction Industry

For the Construction industry and Industrials sector, Masaru's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Masaru's Piotroski F-Score falls into.


TSE:1795
68GF Score
Masaru Corp TSE:1795
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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was 円405 Mil.
Cash Flow from Operations was 円1,239 Mil.
Revenue was 円10,648 Mil.
Gross Profit was 円2,230 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was (8394.129 + 8806.7) / 2 = 円8600.4145 Mil.
Total Assets at the begining of this year (Sep24) was 円8,394 Mil.
Long-Term Debt & Capital Lease Obligation was 円656 Mil.
Total Current Assets was 円6,555 Mil.
Total Current Liabilities was 円2,833 Mil.
Net Income was 円277 Mil.

Revenue was 円8,948 Mil.
Gross Profit was 円1,789 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was (7540.025 + 8394.129) / 2 = 円7967.077 Mil.
Total Assets at the begining of last year (Sep23) was 円7,540 Mil.
Long-Term Debt & Capital Lease Obligation was 円815 Mil.
Total Current Assets was 円6,111 Mil.
Total Current Liabilities was 円2,597 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.

Masaru's current Net Income (TTM) was 405. ==> 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.

Masaru's current Cash Flow from Operations (TTM) was 1,239. ==> 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 (Sep24)
=405.234/8394.129
=0.04827588

ROA (Last Year)=Net Income/Total Assets (Sep23)
=277.432/7540.025
=0.03679457

Masaru's return on assets of this year was 0.04827588. Masaru's return on assets of last year was 0.03679457. ==> 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.

Masaru's current Net Income (TTM) was 405. Masaru's current Cash Flow from Operations (TTM) was 1,239. ==> 1,239 > 405 ==> 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: Sep25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep24 to Sep25
=655.664/8600.4145
=0.07623633

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=814.89/7967.077
=0.10228218

Masaru's gearing of this year was 0.07623633. Masaru's gearing of last year was 0.10228218. ==> 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: Sep25)=Total Current Assets/Total Current Liabilities
=6554.839/2833.36
=2.31345081

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=6110.529/2597.474
=2.352489

Masaru's current ratio of this year was 2.31345081. Masaru's current ratio of last year was 2.352489. ==> 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.

Masaru's number of shares in issue this year was 0.889. Masaru's number of shares in issue last year was 0.885. ==> 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
=2229.951/10647.689
=0.20943052

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1788.942/8947.614
=0.19993509

Masaru's gross margin of this year was 0.20943052. Masaru's gross margin of last year was 0.19993509. ==> 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 (Sep24)
=10647.689/8394.129
=1.26846859

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=8947.614/7540.025
=1.18668227

Masaru's asset turnover of this year was 1.26846859. Masaru's asset turnover of last year was 1.18668227. ==> This year's asset turnover is higher. ==> Score 1.

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+0+0+1+1
=7

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

Masaru 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?
Masaru (TSE:1795) 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 Masaru and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Masaru's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Masaru ranks #187 out of 1730 companies in the Construction industry, placing it in the top 10.8%.
Is Masaru's Piotroski F-Score too high?
Masaru's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Masaru's value of 7 is 40% above this industry median. Based on the distribution chart, Masaru ranks #187 out of 1730 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Masaru has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Masaru's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Masaru ranks #187 out of 1730 companies for Piotroski F-Score. This places Masaru in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Masaru's value of 7 is 40% above this benchmark. Historically, Masaru'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 5.00 vs. the industry median of 5.00, Masaru 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,730 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. Masaru'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 Masaru and its competitors. For the Construction 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. Masaru's current Piotroski F-Score is 7, which is 40% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Masaru stock overvalued right now?
Based on GuruFocus' analysis, Masaru (TSE:1795) is currently considered Modestly Overvalued. The stock's GF Value™ is 円4,531.80, compared to a current price of 円5,200.00 — trading 14.7% above its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Construction industry median of 5.00. Masaru's overall GF Score™ is 68/100 with 3 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 Masaru (TSE:1795), 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.

Is Masaru (TSE:1795) Overvalued in 2026?

Based on GuruFocus' analysis, Masaru stock appears to be overvalued. The current stock price of 円5,200.00 is trading 14.7% above its estimated GF Value™ of 円4,531.80. GuruFocus considers Masaru to be Modestly Overvalued.

Key valuation signals for TSE:1795:

  • Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
  • GF Value™: 円4,531.80 vs. price of 円5,200.00 (14.7% above fair value)
  • GF Score™: 68/100 with 3 warning signs
  • Industry Position: 40% above the Construction median (#187 of 1730)

No single metric tells the full story. See the TSE:1795 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Masaru Business Description

Address Sumitomo Real Estate Hamacho, 3rd floor, Building No. 42-3, Nihonbashi Hamacho, Chuo-ku, Tokyo, JPN, 103-0007
Masaru Corporation is engaged in the construction activities in Japan. The company is involved in the renewal of apartments and building. Further it is also involved in the sealing and waterproofing business.
68GF Score

Get the complete analysis for TSE:1795

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

円5,200.00
Price
円4,531.80
GF Value