Morinaga Milk Industry CoTSE:2264 +1.39%64 Piotroski F-Score is 8 as of Jun. 28, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates TSE:2264 with a GF Score™ of 64/100 and a GF Value™ of 円3,540.17 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,910 Consumer Packaged Goods companies, Morinaga Milk Industry Co ranks better than 97.64% on this metric.
Good Sign:
Piotroski F-Score is 8, 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
Morinaga Milk Industry Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Morinaga Milk Industry Co's Piotroski F-Score or its related term are showing as below:
TSE:2264'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Morinaga Milk Industry Co was 8. The lowest was 3. And the median was 6.
Morinaga Milk Industry Co (TSE:2264) 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.
Morinaga Milk Industry Co Piotroski F-Score Related Terms
Morinaga Milk Industry Co Piotroski F-Score Historical Data
* 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:2264 vs KHC, GIS: Piotroski F-Score Comparison
For the Packaged Foods subindustry, Morinaga Milk Industry 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.
Morinaga Milk Industry Co Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga Milk Industry Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Morinaga Milk Industry 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.
Morinaga Milk Industry Co's current Net Income (TTM) was 22,599.
==> 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.
Morinaga Milk Industry Co's current Cash Flow from Operations (TTM) was 35,716.
==> 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.
Morinaga Milk Industry Co's return on assets of this year was 0.04342429. Morinaga Milk Industry Co's return on assets of last year was 0.00964491.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Morinaga Milk Industry Co's gearing of this year was 0.19526406. Morinaga Milk Industry Co's gearing of last year was 0.1205205.
==> 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
Morinaga Milk Industry Co's current ratio of this year was 1.381693. Morinaga Milk Industry Co's current ratio of last year was 1.16434467.
==> 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.
Morinaga Milk Industry Co's number of shares in issue this year was 327.795. Morinaga Milk Industry Co's number of shares in issue last year was 338.385.
==> 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.
Morinaga Milk Industry Co's gross margin of this year was 0.25069209. Morinaga Milk Industry Co's gross margin of last year was 0.24066197.
==> 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
Morinaga Milk Industry Co's asset turnover of this year was 1.09806446. Morinaga Milk Industry Co's asset turnover of last year was 0.99147523.
==> 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
Morinaga Milk Industry Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Morinaga Milk Industry Co (TSE:2264) has a Piotroski F-Score of 8 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Morinaga Milk Industry Co and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Morinaga Milk Industry Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Morinaga Milk Industry Co ranks #45 out of 1910 companies in the Consumer Packaged Goods industry, placing it in the top 2.4%.
Is Morinaga Milk Industry Co's Piotroski F-Score too high?
Morinaga Milk Industry Co's current Piotroski F-Score of 8 is 33% above 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 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Morinaga Milk Industry Co's value of 8 is 60% above this industry median. Based on the distribution chart, Morinaga Milk Industry Co ranks #45 out of 1910 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Morinaga Milk Industry Co has a GF Score™ of 64/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga Milk Industry Co's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Morinaga Milk Industry Co ranks #45 out of 1910 companies for Piotroski F-Score. This places Morinaga Milk Industry Co in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Morinaga Milk Industry Co's value of 8 is 60% above this benchmark. Historically, Morinaga Milk Industry Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Morinaga Milk Industry 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,910 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. Morinaga Milk Industry Co's current Piotroski F-Score of 8 is 60% 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 Morinaga Milk Industry Co and its competitors. For the Consumer Packaged Goods 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. Morinaga Milk Industry Co's current Piotroski F-Score is 8, which is 33% 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 Morinaga Milk Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Morinaga Milk Industry Co (TSE:2264) is currently considered Significantly Undervalued. The stock's GF Value™ is 円3,540.17, compared to a current price of 円1,238.75 — trading 65% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Consumer Packaged Goods industry median of 5.00. Morinaga Milk Industry Co's overall GF Score™ is 64/100 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 Morinaga Milk Industry Co (TSE:2264), the current Piotroski F-Score is 8 as of Jun. 28, 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 Morinaga Milk Industry Co (TSE:2264) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga Milk Industry Co stock appears to be undervalued.
The current stock price of 円1,238.75 is trading 65% below its estimated GF Value™ of 円3,540.17.
GuruFocus considers Morinaga Milk Industry Co to be Significantly Undervalued.
Key valuation signals for TSE:2264:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: 円3,540.17 vs. price of 円1,238.75 (65% below fair value)
Industry Position: 60% above the Consumer Packaged Goods median (#45 of 1910)
No single metric tells the full story. See the TSE:2264 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga Milk Industry Co Ltd is a Japanese company engaged in the production and distribution of dairy products. It produces a variety of milk and milk-based products such as dairy-based beverages, yogurt, desserts, condensed milk, powdered milk, butter, cheese, ice cream, clinical liquid diets. It also manufactures and sells animal feed, and constructs plant equipment. The company through its subsidiaries markets its products internationally.
64GF Score
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