Asahimatsu Foods Co (TSE:2911) Piotroski F-Score: 5 (As of Jul. 15, 2026) — 17% Below Median

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TSE:2911 Asahimatsu Foods Co Ltd TSE:2911
58 GF Score
Price 円2,264.00
GF Value 円2,156.16
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Asahimatsu Foods Co Piotroski F-Score?

Asahimatsu Foods Co TSE:2911 +0.31% 58 Piotroski F-Score is 5 as of Jul. 15, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates TSE:2911 with a GF Score™ of 58/100 and a GF Value™ of 円2,156.16 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,914 Consumer Packaged Goods companies, Asahimatsu Foods Co ranks better than 51.93% 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

Asahimatsu Foods Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

TSE:2911' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of Asahimatsu Foods Co was 8. The lowest was 5. And the median was 6.

Asahimatsu Foods Co  (TSE:2911) 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.


Asahimatsu Foods Co Piotroski F-Score Related Terms


Asahimatsu Foods Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Asahimatsu Foods 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.

Asahimatsu Foods Co Piotroski F-Score Chart

Asahimatsu Foods Co 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 5.00 7.00 5.00 5.00

Asahimatsu Foods Co 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 7.00 0.00 5.00 0.00 5.00

TSE:2911 vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Asahimatsu Foods 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.


Asahimatsu Foods Co Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Asahimatsu Foods Co's Piotroski F-Score distribution charts can be found below:

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


TSE:2911
58GF Score
Asahimatsu Foods Co Ltd TSE:2911
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231 Mil.
Cash Flow from Operations was 円397 Mil.
Revenue was 円7,687 Mil.
Gross Profit was 円2,101 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (10234.41 + 10317.981) / 2 = 円10276.1955 Mil.
Total Assets at the begining of this year (Mar25) was 円10,234 Mil.
Long-Term Debt & Capital Lease Obligation was 円485 Mil.
Total Current Assets was 円4,890 Mil.
Total Current Liabilities was 円1,127 Mil.
Net Income was 円239 Mil.

Revenue was 円8,018 Mil.
Gross Profit was 円2,287 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (9939.673 + 10234.41) / 2 = 円10087.0415 Mil.
Total Assets at the begining of last year (Mar24) was 円9,940 Mil.
Long-Term Debt & Capital Lease Obligation was 円482 Mil.
Total Current Assets was 円5,027 Mil.
Total Current Liabilities was 円1,312 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.

Asahimatsu Foods Co's current Net Income (TTM) was 231. ==> 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.

Asahimatsu Foods Co's current Cash Flow from Operations (TTM) was 397. ==> 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 (Mar25)
=230.711/10234.41
=0.02254268

ROA (Last Year)=Net Income/Total Assets (Mar24)
=238.817/9939.673
=0.02402665

Asahimatsu Foods Co's return on assets of this year was 0.02254268. Asahimatsu Foods Co's return on assets of last year was 0.02402665. ==> 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.

Asahimatsu Foods Co's current Net Income (TTM) was 231. Asahimatsu Foods Co's current Cash Flow from Operations (TTM) was 397. ==> 397 > 231 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=485.46/10276.1955
=0.04724122

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=481.828/10087.0415
=0.04776703

Asahimatsu Foods Co's gearing of this year was 0.04724122. Asahimatsu Foods Co's gearing of last year was 0.04776703. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=4889.809/1127.365
=4.33737875

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=5026.849/1311.506
=3.83288296

Asahimatsu Foods Co's current ratio of this year was 4.33737875. Asahimatsu Foods Co's current ratio of last year was 3.83288296. ==> 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.

Asahimatsu Foods Co's number of shares in issue this year was 1.855. Asahimatsu Foods Co's number of shares in issue last year was 1.846. ==> 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
=2101.39/7686.918
=0.27337224

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2287.092/8017.567
=0.2852601

Asahimatsu Foods Co's gross margin of this year was 0.27337224. Asahimatsu Foods Co's gross margin of last year was 0.2852601. ==> 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)
=7686.918/10234.41
=0.7510856

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=8017.567/9939.673
=0.80662281

Asahimatsu Foods Co's asset turnover of this year was 0.7510856. Asahimatsu Foods Co's asset turnover of last year was 0.80662281. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+0+0+0
=5

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

Asahimatsu Foods Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
Asahimatsu Foods Co (TSE:2911) has a Piotroski F-Score of 5 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Asahimatsu Foods Co and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, Asahimatsu Foods Co's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Asahimatsu Foods Co ranks #920 out of 1914 companies in the Consumer Packaged Goods industry, placing it in the top 48.1%.
Is Asahimatsu Foods Co's Piotroski F-Score too high?
Asahimatsu Foods Co's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Asahimatsu Foods Co's value of 5 is 0% at this industry median. Based on the distribution chart, Asahimatsu Foods Co ranks #920 out of 1914 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Asahimatsu Foods Co has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asahimatsu Foods Co's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Asahimatsu Foods Co ranks #920 out of 1914 companies for Piotroski F-Score. This puts Asahimatsu Foods Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Asahimatsu Foods Co's value of 5 is 0% at this benchmark. Historically, Asahimatsu Foods Co's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Asahimatsu Foods Co has consistently been at 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 1,914 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. Asahimatsu Foods Co's current Piotroski F-Score of 5 is 0% at 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 Asahimatsu Foods 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. Asahimatsu Foods Co's current Piotroski F-Score is 5, which is 17% below 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 Asahimatsu Foods Co stock overvalued right now?
Based on GuruFocus' analysis, Asahimatsu Foods Co (TSE:2911) is currently considered Fairly Valued. The stock's GF Value™ is 円2,156.16, compared to a current price of 円2,264.00 — trading 5% above its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Consumer Packaged Goods industry median of 5.00. Asahimatsu Foods Co's overall GF Score™ is 58/100 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 Asahimatsu Foods Co (TSE:2911), the current Piotroski F-Score is 5 as of Jul. 15, 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 Asahimatsu Foods Co (TSE:2911) Overvalued in 2026?

Based on GuruFocus' analysis, Asahimatsu Foods Co stock appears to be overvalued. The current stock price of 円2,264.00 is trading 5% above its estimated GF Value™ of 円2,156.16. GuruFocus considers Asahimatsu Foods Co to be Fairly Valued.

Key valuation signals for TSE:2911:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: 円2,156.16 vs. price of 円2,264.00 (5% above fair value)
  • GF Score™: 58/100 with 5 warning signs
  • Industry Position: 0% at the Consumer Packaged Goods median (#920 of 1914)

No single metric tells the full story. See the TSE:2911 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asahimatsu Foods Co Business Description

Address 3-7-3 Tagawa, Yodogawa-ku, Osaka, JPN
Asahimatsu Foods Co Ltd is engaged in manufacturing and selling food products in Japan. It offers dried-frozen tofu, instant miso soups and other soups, sweets, dried-frozen tofu bean curd, natto, and flavored deep-fried bean curd. The company also provides diet products for invalids, such as cut gourmet foods; and health supplements with soybean.
58GF Score

Get the complete analysis for TSE:2911

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

円2,264.00
Price
円2,156.16
GF Value