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Tsuruha HoldingsTSE:3391 +1.69%47 Piotroski F-Score is 6 as of Jul. 17, 2026, which is at its 10-year median of 6.00. GuruFocus rates TSE:3391 with a GF Score™ of 47/100 and a GF Value™ of 円1,586.01 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 648 Healthcare Providers & Services companies, Tsuruha Holdings ranks better than 74.69% 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
Tsuruha Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Tsuruha Holdings's Piotroski F-Score or its related term are showing as below:
TSE:3391'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of Tsuruha Holdings was 7. The lowest was 3. And the median was 6.
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.
Tsuruha Holdings Piotroski F-Score Related Terms
Tsuruha Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Tsuruha 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.
For the Pharmaceutical Retailers subindustry, Tsuruha 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.
Tsuruha Holdings Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Tsuruha Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Tsuruha 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.
Tsuruha Holdings's current Net Income (TTM) was 42,670.
==> 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.
Tsuruha Holdings's return on assets of this year was 0.0776452. Tsuruha Holdings's return on assets of last year was 0.04027749.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tsuruha Holdings's gearing of this year was 0.14088168. Tsuruha Holdings's gearing of last year was 0.07601014.
==> 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
Tsuruha Holdings's current ratio of this year was 1.24078011. Tsuruha Holdings's current ratio of last year was 1.50793441.
==> 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.
Tsuruha Holdings's number of shares in issue this year was 452.978. Tsuruha Holdings's number of shares in issue last year was 244.232.
==> 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.
Tsuruha Holdings's gross margin of this year was 0.30607582. Tsuruha Holdings's gross margin of last year was 0.30392949.
==> 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
Tsuruha Holdings's asset turnover of this year was 2.63958213. Tsuruha Holdings's asset turnover of last year was 1.9033066.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tsuruha Holdings has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Tsuruha Holdings (TSE:3391) has a Piotroski F-Score of 6 as of Jul. 17, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tsuruha Holdings and its competitors. This is near median its historical median of 6.00. Over the past decade, Tsuruha Holdings' Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Tsuruha Holdings ranks #164 out of 648 companies in the Healthcare Providers & Services industry, placing it in the top 25.3%.
Is Tsuruha Holdings' Piotroski F-Score too high?
Tsuruha Holdings' current Piotroski F-Score of 6 is near 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 7.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Tsuruha Holdings' value of 6 is 20% above this industry median. Based on the distribution chart, Tsuruha Holdings ranks #164 out of 648 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Tsuruha Holdings has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tsuruha Holdings' Piotroski F-Score compare to competitors?
According to the Healthcare Providers & Services industry distribution chart, Tsuruha Holdings ranks #164 out of 648 companies for Piotroski F-Score. This puts Tsuruha Holdings in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Tsuruha Holdings' value of 6 is 20% above this benchmark. Historically, Tsuruha 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 6.00 vs. the industry median of 5.00, Tsuruha 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 Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 648 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. Tsuruha Holdings's current Piotroski F-Score of 6 is 20% 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 Tsuruha Holdings and its competitors. For the Healthcare Providers & Services 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. Tsuruha Holdings's current Piotroski F-Score is 6, which is near 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 Tsuruha Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tsuruha Holdings (TSE:3391) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,586.01, compared to a current price of 円2,353.00 — trading 48.4% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Healthcare Providers & Services industry median of 5.00. Tsuruha Holdings' overall GF Score™ is 47/100 with 6 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 Tsuruha Holdings (TSE:3391), the current Piotroski F-Score is 6 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 Tsuruha Holdings (TSE:3391) Overvalued in 2026?
Based on GuruFocus' analysis, Tsuruha Holdings stock appears to be overvalued.
The current stock price of 円2,353.00 is trading 48.4% above its estimated GF Value™ of 円1,586.01.
GuruFocus considers Tsuruha Holdings to be Significantly Overvalued.
Key valuation signals for TSE:3391:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: 円1,586.01 vs. price of 円2,353.00 (48.4% above fair value)
Industry Position: 20% above the Healthcare Providers & Services median (#164 of 648)
No single metric tells the full story. See the TSE:3391 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tsuruha Holdings Inc manages pharmaceutical companies in Japan, where the drugstore business is the core of their operations. The company generates revenue through selling prescription and over-the-counter drugs, medical supplies, nursing care products, discount cosmetics, health products, and a miscellaneous assortment of general merchandise. It also provides blood testing services, disease prevention solutions, and at-home drug delivery services.
47GF Score
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