Macnica HoldingsTSE:3132 +0.09%90 Piotroski F-Score is 5 as of Jun. 30, 2026, which is at its 10-year median of 5.00. GuruFocus rates TSE:3132 with a GF Score™ of 90/100 and a GF Value™ of 円2,537.08 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 2,432 Hardware companies, Macnica Holdings ranks better than 59.58% 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
Macnica Holdings 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 Macnica Holdings's Piotroski F-Score or its related term are showing as below:
TSE:3132'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 7
Current: 5
During the past 11 years, the highest Piotroski F-Score of Macnica Holdings was 7. The lowest was 3. And the median was 5.
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.
Macnica Holdings Piotroski F-Score Related Terms
Macnica Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Macnica 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:3132 vs SNX, ARW, AVT: Piotroski F-Score Comparison
For the Electronics & Computer Distribution subindustry, Macnica 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.
Macnica Holdings Piotroski F-Score vs Hardware Industry
For the Hardware industry and Technology sector, Macnica Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Macnica 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.
*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.
Macnica Holdings's current Net Income (TTM) was 27,765.
==> 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.
Macnica Holdings's return on assets of this year was 0.04989774. Macnica Holdings's return on assets of last year was 0.04577506.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Macnica Holdings's gearing of this year was 0.00165026. Macnica Holdings's gearing of last year was 0.0011358.
==> 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
Macnica Holdings's current ratio of this year was 1.63066631. Macnica Holdings's current ratio of last year was 1.79121753.
==> 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.
Macnica Holdings's number of shares in issue this year was 178.517. Macnica Holdings's number of shares in issue last year was 179.378.
==> 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.
Macnica Holdings's gross margin of this year was 0.10742747. Macnica Holdings's gross margin of last year was 0.11724458.
==> 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
Macnica Holdings's asset turnover of this year was 2.18208677. Macnica Holdings's asset turnover of last year was 1.87268671.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Macnica Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Macnica Holdings (TSE:3132) has a Piotroski F-Score of 5 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Macnica Holdings and its competitors. This is near median its historical median of 5.00. Over the past decade, Macnica Holdings' Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Macnica Holdings ranks #983 out of 2432 companies in the Hardware industry, placing it in the top 40.4%.
Is Macnica Holdings' Piotroski F-Score too high?
Macnica Holdings' current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Hardware industry median Piotroski F-Score is 5.00. Macnica Holdings' value of 5 is 0% at this industry median. Based on the distribution chart, Macnica Holdings ranks #983 out of 2432 companies in the Hardware industry, which is above the industry midpoint. Overall, Macnica Holdings has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Macnica Holdings' Piotroski F-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Macnica Holdings ranks #983 out of 2432 companies for Piotroski F-Score. This puts Macnica Holdings in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Macnica Holdings' value of 5 is 0% at this benchmark. Historically, Macnica Holdings' own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Macnica Holdings 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 Hardware company?
The median Piotroski F-Score among Hardware companies is 5.00, based on 2,432 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. Macnica Holdings'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 Macnica Holdings and its competitors. For the Hardware 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. Macnica Holdings's current Piotroski F-Score is 5, which is near 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 Macnica Holdings stock overvalued right now?
Based on GuruFocus' analysis, Macnica Holdings (TSE:3132) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,537.08, compared to a current price of 円3,187.00 — trading 25.6% above its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Hardware industry median of 5.00. Macnica Holdings' overall GF Score™ is 90/100 with 8 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 Macnica Holdings (TSE:3132), the current Piotroski F-Score is 5 as of Jun. 30, 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 Macnica Holdings (TSE:3132) Overvalued in 2026?
Based on GuruFocus' analysis, Macnica Holdings stock appears to be overvalued.
The current stock price of 円3,187.00 is trading 25.6% above its estimated GF Value™ of 円2,537.08.
GuruFocus considers Macnica Holdings to be Modestly Overvalued.
Key valuation signals for TSE:3132:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: 円2,537.08 vs. price of 円3,187.00 (25.6% above fair value)
Industry Position: 0% at the Hardware median (#983 of 2432)
No single metric tells the full story. See the TSE:3132 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Macnica Holdings Inc is an independent electronics distribution company in Japan. The company imports, exports, and distributes electronic components such as semiconductor devices and Integrated Circuit (IC), and business accompanying or pertaining to such activities. Its business segments are the Integrated Circuit, Electronic Devices, and Other Business, and the Network Business. The IC, Electronic Devices, and Other Business handles the sales of products such as ICs and electronic devices, and the Network Business is responsible for the sales of network-related hardware, software, and services.
90GF Score
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