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Nippon Rietec CoTSE:1938 -4.69%74 Piotroski F-Score is 6 as of Jul. 20, 2026, which is at its 10-year median of 6.00. GuruFocus rates TSE:1938 with a GF Score™ of 74/100 and a GF Value™ of 円1,844.08 (Significantly Overvalued). Among 1,729 Construction companies, Nippon Rietec Co ranks better than 74.15% 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
Nippon Rietec 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 Nippon Rietec Co's Piotroski F-Score or its related term are showing as below:
TSE:1938'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Nippon Rietec Co was 8. The lowest was 4. And the median was 6.
Nippon Rietec Co (TSE:1938) 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.
Nippon Rietec Co Piotroski F-Score Related Terms
Nippon Rietec Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Nippon Rietec 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.
TSE:1938 vs PWR, FIX, EME: Piotroski F-Score Comparison
For the Engineering & Construction subindustry, Nippon Rietec 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.
Nippon Rietec Co Piotroski F-Score vs Construction Industry
For the Construction industry and Industrials sector, Nippon Rietec Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nippon Rietec 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.
*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.
Nippon Rietec Co's current Net Income (TTM) was 5,551.
==> 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.
Nippon Rietec Co's return on assets of this year was 0.05866641. Nippon Rietec Co's return on assets of last year was 0.05420932.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nippon Rietec Co's gearing of this year was 0.00891914. Nippon Rietec Co's gearing of last year was 0.0138711.
==> 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
Nippon Rietec Co's current ratio of this year was 2.31564898. Nippon Rietec Co's current ratio of last year was 2.28238304.
==> 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.
Nippon Rietec Co's number of shares in issue this year was 24.769. Nippon Rietec Co's number of shares in issue last year was 24.751.
==> 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.
Nippon Rietec Co's gross margin of this year was 0.17594471. Nippon Rietec Co's gross margin of last year was 0.15790907.
==> 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
Nippon Rietec Co's asset turnover of this year was 0.78250569. Nippon Rietec Co's asset turnover of last year was 0.78645371.
==> 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
Nippon Rietec Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Nippon Rietec Co (TSE:1938) has a Piotroski F-Score of 6 as of Jul. 20, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nippon Rietec Co and its competitors. This is near median its historical median of 6.00. Over the past decade, Nippon Rietec Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Nippon Rietec Co ranks #447 out of 1729 companies in the Construction industry, placing it in the top 25.9%.
Is Nippon Rietec Co's Piotroski F-Score too high?
Nippon Rietec 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 4.00 to a high of 8.00. The Construction industry median Piotroski F-Score is 5.00. Nippon Rietec Co's value of 6 is 20% above this industry median. Based on the distribution chart, Nippon Rietec Co ranks #447 out of 1729 companies in the Construction industry, which is above the industry midpoint. Overall, Nippon Rietec 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 Nippon Rietec Co's Piotroski F-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Nippon Rietec Co ranks #447 out of 1729 companies for Piotroski F-Score. This puts Nippon Rietec Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Nippon Rietec Co's value of 6 is 20% above this benchmark. Historically, Nippon Rietec 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, Nippon Rietec 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 Construction company?
The median Piotroski F-Score among Construction companies is 5.00, based on 1,729 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. Nippon Rietec 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 Nippon Rietec Co 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. Nippon Rietec 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 Nippon Rietec Co stock overvalued right now?
Based on GuruFocus' analysis, Nippon Rietec Co (TSE:1938) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,844.08, compared to a current price of 円2,460.00 — trading 33.4% 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 Construction industry median of 5.00. Nippon Rietec Co's overall GF Score™ is 74/100. 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 Nippon Rietec Co (TSE:1938), the current Piotroski F-Score is 6 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 Nippon Rietec Co (TSE:1938) Overvalued in 2026?
Based on GuruFocus' analysis, Nippon Rietec Co stock appears to be overvalued.
The current stock price of 円2,460.00 is trading 33.4% above its estimated GF Value™ of 円1,844.08.
GuruFocus considers Nippon Rietec Co to be Significantly Overvalued.
Key valuation signals for TSE:1938:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: 円1,844.08 vs. price of 円2,460.00 (33.4% above fair value)
Industry Position: 20% above the Construction median (#447 of 1729)
No single metric tells the full story. See the TSE:1938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nippon Rietec Co Ltd manufactures and sales electrical equipment for various divisions. The company operates in four business divisions including Railway electrical equipment construction, Road equipment, Indoor and outdoor electrical equipment construction and Transmission line construction. Its product offering includes signal equipment, train line equipment, power generation equipment, electric power equipment, distribution line equipment, telecommunication equipment, road information control system, road signs, sound insulation walls, road lighting equipment, aircraft lighting equipment, disaster prevention equipment construction, sanitation equipment construction, machinery equipment facility construction, civil engineering work, and waterproofing construction.
74GF Score
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