Asahi Group HoldingsTSE:2502 +1.49%81 Piotroski F-Score is 7 as of Jun. 28, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates TSE:2502 with a GF Score™ of 81/100 and a GF Value™ of 円1,970.42 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 209 Beverages - Alcoholic companies, Asahi Group Holdings 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
Asahi Group Holdings 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 Asahi Group Holdings's Piotroski F-Score or its related term are showing as below:
TSE:2502'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Asahi Group Holdings was 8. The lowest was 3. And the median was 6.
Asahi Group Holdings (TSE:2502) 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.
Asahi Group Holdings Piotroski F-Score Related Terms
Asahi Group Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Asahi Group Holdings'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:2502 vs STZ, TAP: Piotroski F-Score Comparison
For the Beverages - Brewers subindustry, Asahi Group Holdings'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.
Asahi Group Holdings Piotroski F-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Asahi Group Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Asahi Group Holdings'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 (Sep25) TTM:
Last Year (Sep24) TTM:
Net Income was 52762 + 21520 + 37205 + 44076 = 円155,563 Mil. Cash Flow from Operations was 181585 + -151531 + 148977 + 150917 = 円329,948 Mil. Revenue was 771470 + 630423 + 729128 + 795273 = 円2,926,294 Mil. Gross Profit was 282338 + 222984 + 280356 + 309720 = 円1,095,398 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was
(5298434 + 5403405 + 5269013 + 5432273 + 5577923) / 5 = 円5396209.6 Mil. Total Assets at the begining of this year (Sep24) was 円5,298,434 Mil. Long-Term Debt & Capital Lease Obligation was 円783,741 Mil. Total Current Assets was 円870,254 Mil. Total Current Liabilities was 円1,586,702 Mil.
Net Income was 31039 + 23830 + 52535 + 62952 = 円170,356 Mil.
Revenue was 746087 + 616614 + 762352 + 788986 = 円2,914,039 Mil. Gross Profit was 261254 + 216944 + 293527 + 304871 = 円1,076,596 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was
(5282365 + 5285913 + 5399998 + 5703082 + 5298434) / 5 = 円5393958.4 Mil. Total Assets at the begining of last year (Sep23) was 円5,282,365 Mil. Long-Term Debt & Capital Lease Obligation was 円1,071,378 Mil. Total Current Assets was 円826,166 Mil. Total Current Liabilities was 円1,252,830 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.
Asahi Group Holdings's current Net Income (TTM) was 155,563.
==> 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.
Asahi Group Holdings's current Cash Flow from Operations (TTM) was 329,948.
==> 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.
Asahi Group Holdings's return on assets of this year was 0.02936018. Asahi Group Holdings's return on assets of last year was 0.03224995.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Asahi Group Holdings's gearing of this year was 0.14523917. Asahi Group Holdings's gearing of last year was 0.19862556.
==> 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
Asahi Group Holdings's current ratio of this year was 0.5484672. Asahi Group Holdings's current ratio of last year was 0.65943983.
==> 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.
Asahi Group Holdings's number of shares in issue this year was 1503.546. Asahi Group Holdings's number of shares in issue last year was 1520.275.
==> 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.
Asahi Group Holdings's gross margin of this year was 0.37432944. Asahi Group Holdings's gross margin of last year was 0.36945147.
==> 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
Asahi Group Holdings's asset turnover of this year was 0.55229413. Asahi Group Holdings's asset turnover of last year was 0.55165423.
==> 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
Asahi Group Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Asahi Group Holdings (TSE:2502) has a Piotroski F-Score of 7 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Asahi Group Holdings and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Asahi Group Holdings' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Asahi Group Holdings ranks #22 out of 209 companies in the Beverages - Alcoholic industry, placing it in the top 10.5%.
Is Asahi Group Holdings' Piotroski F-Score too high?
Asahi Group Holdings' 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 3.00 to a high of 8.00. The Beverages - Alcoholic industry median Piotroski F-Score is 5.00. Asahi Group Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Asahi Group Holdings ranks #22 out of 209 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, Asahi Group Holdings has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asahi Group Holdings' Piotroski F-Score compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Asahi Group Holdings ranks #22 out of 209 companies for Piotroski F-Score. This places Asahi Group Holdings in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Asahi Group Holdings' value of 7 is 40% above this benchmark. Historically, Asahi Group Holdings' 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, Asahi Group Holdings 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 Beverages - Alcoholic company?
The median Piotroski F-Score among Beverages - Alcoholic companies is 5.00, based on 209 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. Asahi Group Holdings'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 Asahi Group Holdings and its competitors. For the Beverages - Alcoholic 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. Asahi Group Holdings'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 Asahi Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Asahi Group Holdings (TSE:2502) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,970.42, compared to a current price of 円1,563.00 — trading 20.7% 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 Beverages - Alcoholic industry median of 5.00. Asahi Group Holdings' overall GF Score™ is 81/100 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 Asahi Group Holdings (TSE:2502), the current Piotroski F-Score is 7 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 Asahi Group Holdings (TSE:2502) Overvalued in 2026?
Based on GuruFocus' analysis, Asahi Group Holdings stock appears to be undervalued.
The current stock price of 円1,563.00 is trading 20.7% below its estimated GF Value™ of 円1,970.42.
GuruFocus considers Asahi Group Holdings to be Modestly Undervalued.
Key valuation signals for TSE:2502:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: 円1,970.42 vs. price of 円1,563.00 (20.7% below fair value)
Industry Position: 40% above the Beverages - Alcoholic median (#22 of 209)
No single metric tells the full story. See the TSE:2502 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asahi is the largest brewer in Japan with a nearly 40% market share, led by its Asahi Super Dry brand. It also operates a wide range of alcoholic and soft beverage products as well as packaged foods, mainly in Japan. Overseas markets accounted for over half of the company's revenue and close to 60% of operating profit, with Australia and Europe being two major markets. It acquired SABMiller's brands including Peroni and Pilsner Urquell in Western and Central Europe in 2016 and 2017 from Anheuser-Busch InBev. In Australia, Asahi holds market leaderships across beer and soft drinks segments, through its acquisitions of Schweppes Australia in 2009 and Carlton & United Breweries in 2020.
81GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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