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.
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.
Hogy Medical CoTSE:3593 47 Piotroski F-Score is 7 as of Jul. 17, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates TSE:3593 with a GF Score™ of 47/100 and a GF Value™ of 円4,422.15 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 803 Medical Devices & Instruments companies, Hogy Medical Co ranks better than 92.53% 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
Hogy Medical Co 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 Hogy Medical Co's Piotroski F-Score or its related term are showing as below:
TSE:3593'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Hogy Medical Co was 8. The lowest was 4. And the median was 6.
Hogy Medical Co (TSE:3593) 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.
Hogy Medical Co Piotroski F-Score Related Terms
Hogy Medical Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Hogy Medical 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.
TSE:3593 vs ISRG, BDX, MDLN: Piotroski F-Score Comparison
For the Medical Instruments & Supplies subindustry, Hogy Medical 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.
Hogy Medical Co Piotroski F-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Hogy Medical Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hogy Medical Co'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.
Hogy Medical Co's current Net Income (TTM) was 222.
==> 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.
Hogy Medical Co's return on assets of this year was 0.00225111. Hogy Medical Co's return on assets of last year was 0.02904453.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Hogy Medical Co's gearing of this year was 0.10549464. Hogy Medical Co's gearing of last year was 0.1217404.
==> 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
Hogy Medical Co's current ratio of this year was 5.34147277. Hogy Medical Co's current ratio of last year was 4.8109533.
==> 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.
Hogy Medical Co's number of shares in issue this year was 21.56. Hogy Medical Co's number of shares in issue last year was 22.63.
==> 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.
Hogy Medical Co's gross margin of this year was 0.32298301. Hogy Medical Co's gross margin of last year was 0.32084244.
==> 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
Hogy Medical Co's asset turnover of this year was 0.38371291. Hogy Medical Co's asset turnover of last year was 0.3900549.
==> 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
+
1
+
1
+
0
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hogy Medical Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Hogy Medical Co (TSE:3593) has a Piotroski F-Score of 7 as of Jul. 17, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hogy Medical Co and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Hogy Medical Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Hogy Medical Co ranks #60 out of 803 companies in the Medical Devices & Instruments industry, placing it in the top 7.5%.
Is Hogy Medical Co's Piotroski F-Score too high?
Hogy Medical Co's 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 4.00 to a high of 8.00. The Medical Devices & Instruments industry median Piotroski F-Score is 5.00. Hogy Medical Co's value of 7 is 40% above this industry median. Based on the distribution chart, Hogy Medical Co ranks #60 out of 803 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Hogy Medical Co has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hogy Medical Co's Piotroski F-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Hogy Medical Co ranks #60 out of 803 companies for Piotroski F-Score. This places Hogy Medical Co in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Hogy Medical Co's value of 7 is 40% above this benchmark. Historically, Hogy Medical Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Hogy Medical Co 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 Medical Devices & Instruments company?
The median Piotroski F-Score among Medical Devices & Instruments companies is 5.00, based on 803 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. Hogy Medical Co'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 Hogy Medical Co and its competitors. For the Medical Devices & Instruments 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. Hogy Medical Co'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 Hogy Medical Co stock overvalued right now?
Based on GuruFocus' analysis, Hogy Medical Co (TSE:3593) is currently considered Significantly Overvalued. The stock's GF Value™ is 円4,422.15, compared to a current price of 円6,660.00 — trading 50.6% above 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 Medical Devices & Instruments industry median of 5.00. Hogy Medical Co's overall GF Score™ is 47/100 with 10 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 Hogy Medical Co (TSE:3593), the current Piotroski F-Score is 7 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 Hogy Medical Co (TSE:3593) Overvalued in 2026?
Based on GuruFocus' analysis, Hogy Medical Co stock appears to be overvalued.
The current stock price of 円6,660.00 is trading 50.6% above its estimated GF Value™ of 円4,422.15.
GuruFocus considers Hogy Medical Co to be Significantly Overvalued.
Key valuation signals for TSE:3593:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: 円4,422.15 vs. price of 円6,660.00 (50.6% above fair value)
Industry Position: 40% above the Medical Devices & Instruments median (#60 of 803)
No single metric tells the full story. See the TSE:3593 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hogy Medical Co Ltd develops and sells products that can be used to streamline operations and improve safety at healthcare facilities. Its products are used in hospitals' operating rooms, wards, material rooms, and administrative settings. Hogy Medical receives the majority of its revenue from sales of surgical-use products. Its key products include kit products, nonwoven products, and sterilization products. The kit products contain sterilized surgical supplies for use in a specific operation. The nonwoven products include gowns, caps, equipment covers, and other accessories. Hogy's primary sterilization product is the Mekkin bag, a sterilization pouch. The vast majority of Hogy's revenue is generated in Japan.
47GF Score
Get the complete analysis for TSE:3593
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:3593 has been successfully added to your 
