Hiramatsu (TSE:2764) Piotroski F-Score: 2 (As of Jul. 17, 2026) — 60% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2764 Hiramatsu Inc TSE:2764
59 GF Score
Price 円141.00
GF Value 円139.50
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is Hiramatsu Piotroski F-Score?

Hiramatsu TSE:2764 +1.44% 59 Piotroski F-Score is 2 as of Jul. 17, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates TSE:2764 with a GF Score™ of 59/100 and a GF Value™ of 円139.50 (Fairly Valued). The stock has 7 warning signs investors should review. Among 355 Restaurants companies, Hiramatsu ranks worse than 95.77% on this metric.

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Hiramatsu has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Hiramatsu's Piotroski F-Score or its related term are showing as below:

TSE:2764' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 6
Current: 2

During the past 13 years, the highest Piotroski F-Score of Hiramatsu was 6. The lowest was 1. And the median was 5.

Hiramatsu  (TSE:2764) 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.


Hiramatsu Piotroski F-Score Related Terms


Hiramatsu Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Hiramatsu'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.

Hiramatsu Piotroski F-Score Chart

Hiramatsu Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 6.00 4.00 2.00

Hiramatsu Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 6.00 0.00 4.00 0.00 2.00

TSE:2764 vs MCD, SBUX, YUM: Piotroski F-Score Comparison

For the Restaurants subindustry, Hiramatsu'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.


Hiramatsu Piotroski F-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Hiramatsu's Piotroski F-Score distribution charts can be found below:

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


TSE:2764
59GF Score
Hiramatsu Inc TSE:2764
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 円220 Mil.
Cash Flow from Operations was 円-653 Mil.
Revenue was 円9,881 Mil.
Gross Profit was 円5,480 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (12142.074 + 11914.375) / 2 = 円12028.2245 Mil.
Total Assets at the begining of this year (Mar25) was 円12,142 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,683 Mil.
Total Current Assets was 円8,506 Mil.
Total Current Liabilities was 円3,859 Mil.
Net Income was 円1,531 Mil.

Revenue was 円10,663 Mil.
Gross Profit was 円5,994 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (21872.28 + 12142.074) / 2 = 円17007.177 Mil.
Total Assets at the begining of last year (Mar24) was 円21,872 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,898 Mil.
Total Current Assets was 円9,424 Mil.
Total Current Liabilities was 円4,144 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.

Hiramatsu's current Net Income (TTM) was 220. ==> 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.

Hiramatsu's current Cash Flow from Operations (TTM) was -653. ==> Negative ==> Score 0.

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 (Mar25)
=219.838/12142.074
=0.01810547

ROA (Last Year)=Net Income/Total Assets (Mar24)
=1530.727/21872.28
=0.06998479

Hiramatsu's return on assets of this year was 0.01810547. Hiramatsu's return on assets of last year was 0.06998479. ==> Last year is higher ==> Score 0.

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.

Hiramatsu's current Net Income (TTM) was 220. Hiramatsu's current Cash Flow from Operations (TTM) was -653. ==> -653 <= 220 ==> CFROA <= ROA ==> Score 0.

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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=1682.771/12028.2245
=0.13990186

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1897.5/17007.177
=0.11157054

Hiramatsu's gearing of this year was 0.13990186. Hiramatsu's gearing of last year was 0.11157054. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=8505.865/3858.976
=2.2041767

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=9423.644/4143.752
=2.27418147

Hiramatsu's current ratio of this year was 2.2041767. Hiramatsu's current ratio of last year was 2.27418147. ==> 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.

Hiramatsu's number of shares in issue this year was 70.631. Hiramatsu's number of shares in issue last year was 70.601. ==> 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
=5480.019/9881.044
=0.55459919

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5994.229/10662.788
=0.56216339

Hiramatsu's gross margin of this year was 0.55459919. Hiramatsu's gross margin of last year was 0.56216339. ==> Last year's gross margin is higher ==> Score 0.

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 (Mar25)
=9881.044/12142.074
=0.81378552

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=10662.788/21872.28
=0.48750235

Hiramatsu's asset turnover of this year was 0.81378552. Hiramatsu's asset turnover of last year was 0.48750235. ==> 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+0+0+0+0+0+0+0+1
=2

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

Hiramatsu has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 2 mean?
Hiramatsu (TSE:2764) has a Piotroski F-Score of 2 as of Jul. 17, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hiramatsu and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Hiramatsu's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Hiramatsu ranks #340 out of 355 companies in the Restaurants industry, placing it in the top 95.8%.
Is Hiramatsu's Piotroski F-Score too high?
Hiramatsu's current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Restaurants industry median Piotroski F-Score is 5.00. Hiramatsu's value of 2 is 60% below this industry median. Based on the distribution chart, Hiramatsu ranks #340 out of 355 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Hiramatsu has a GF Score™ of 59/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hiramatsu's Piotroski F-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Hiramatsu ranks #340 out of 355 companies for Piotroski F-Score. This places Hiramatsu in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Hiramatsu's value of 2 is 60% below this benchmark. Historically, Hiramatsu's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Hiramatsu has consistently been below 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 Restaurants company?
The median Piotroski F-Score among Restaurants companies is 5.00, based on 355 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. Hiramatsu's current Piotroski F-Score of 2 is 60% below 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 Hiramatsu and its competitors. For the Restaurants 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. Hiramatsu's current Piotroski F-Score is 2, which is 60% below 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 Hiramatsu stock overvalued right now?
Based on GuruFocus' analysis, Hiramatsu (TSE:2764) is currently considered Fairly Valued. The stock's GF Value™ is 円139.50, compared to a current price of 円141.00 — trading 1.1% above its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Restaurants industry median of 5.00. Hiramatsu's overall GF Score™ is 59/100 with 7 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 Hiramatsu (TSE:2764), the current Piotroski F-Score is 2 as of Jul. 17, 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 Hiramatsu (TSE:2764) Overvalued in 2026?

Based on GuruFocus' analysis, Hiramatsu stock appears to be overvalued. The current stock price of 円141.00 is trading 1.1% above its estimated GF Value™ of 円139.50. GuruFocus considers Hiramatsu to be Fairly Valued.

Key valuation signals for TSE:2764:

  • Piotroski F-Score: 2 (60% below median its 10-year median of 5.00)
  • GF Value™: 円139.50 vs. price of 円141.00 (1.1% above fair value)
  • GF Score™: 59/100 with 7 warning signs
  • Industry Position: 60% below the Restaurants median (#340 of 355)

No single metric tells the full story. See the TSE:2764 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hiramatsu Business Description

Address Hiramatsu Inc., Tokyo, JPN
Hiramatsu Inc is a Japan-based company mainly engaged in the operation of French and Italian restaurants,cafes and hotels. Its business operations include restaurant business, wedding business, catering business, wine business, and hotel business. It operates restaurants under the name THE HIRAMATSU HOTELS & RESORTS Sengokuhara, Ristorante il Centro Hiramatsu, Jardin Paul Bocuse, Restaurant Hiramatsu Paris, Restaurant Hiramatsu Hakata, Ristorante Kubotsu, Ristorante L'Orchestrata.
59GF Score

Get the complete analysis for TSE:2764

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

円141.00
Price
円139.50
GF Value