Ad-Sol NissinTSE:3837 -0.23%97 Piotroski F-Score is 8 as of Jun. 29, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates TSE:3837 with a GF Score™ of 97/100 and a GF Value™ of 円1,265.53 (Fairly Valued). Among 2,743 Software companies, Ad-Sol Nissin ranks better than 98.69% on this metric.
Good Sign:
Piotroski F-Score is 8, 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
Ad-Sol Nissin has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Ad-Sol Nissin's Piotroski F-Score or its related term are showing as below:
TSE:3837'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Ad-Sol Nissin was 8. The lowest was 4. 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.
Ad-Sol Nissin Piotroski F-Score Related Terms
Ad-Sol Nissin Piotroski F-Score Historical Data
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The historical data trend for Ad-Sol Nissin'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:3837 vs IBM, ACN, FISV: Piotroski F-Score Comparison
For the Information Technology Services subindustry, Ad-Sol Nissin'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.
Ad-Sol Nissin Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Ad-Sol Nissin's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ad-Sol Nissin'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.
Ad-Sol Nissin's current Net Income (TTM) was 1,511.
==> 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.
Ad-Sol Nissin's return on assets of this year was 0.1528667. Ad-Sol Nissin's return on assets of last year was 0.1185648.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Ad-Sol Nissin's current ratio of this year was 2.54076273. Ad-Sol Nissin's current ratio of last year was 3.0150935.
==> 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.
Ad-Sol Nissin's number of shares in issue this year was 17.732. Ad-Sol Nissin's number of shares in issue last year was 18.677.
==> 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.
Ad-Sol Nissin's gross margin of this year was 0.28991381. Ad-Sol Nissin's gross margin of last year was 0.27842065.
==> 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
Ad-Sol Nissin's asset turnover of this year was 1.73506104. Ad-Sol Nissin's asset turnover of last year was 1.51580638.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ad-Sol Nissin has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Ad-Sol Nissin (TSE:3837) has a Piotroski F-Score of 8 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ad-Sol Nissin and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Ad-Sol Nissin's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Ad-Sol Nissin ranks #36 out of 2743 companies in the Software industry, placing it in the top 1.3%.
Is Ad-Sol Nissin's Piotroski F-Score too high?
Ad-Sol Nissin's current Piotroski F-Score of 8 is 33% 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 Software industry median Piotroski F-Score is 5.00. Ad-Sol Nissin's value of 8 is 60% above this industry median. Based on the distribution chart, Ad-Sol Nissin ranks #36 out of 2743 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Ad-Sol Nissin has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ad-Sol Nissin's Piotroski F-Score compare to IBM and ACN?
According to the Software industry distribution chart, Ad-Sol Nissin ranks #36 out of 2743 companies for Piotroski F-Score. This places Ad-Sol Nissin in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Ad-Sol Nissin's value of 8 is 60% above this benchmark. Historically, Ad-Sol Nissin'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, Ad-Sol Nissin 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 Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,743 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. Ad-Sol Nissin's current Piotroski F-Score of 8 is 60% 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 Ad-Sol Nissin and its competitors. For the Software 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. Ad-Sol Nissin's current Piotroski F-Score is 8, which is 33% 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 Ad-Sol Nissin stock overvalued right now?
Based on GuruFocus' analysis, Ad-Sol Nissin (TSE:3837) is currently considered Fairly Valued. The stock's GF Value™ is 円1,265.53, compared to a current price of 円1,307.00 — trading 3.3% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Software industry median of 5.00. Ad-Sol Nissin's overall GF Score™ is 97/100. 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 Ad-Sol Nissin (TSE:3837), the current Piotroski F-Score is 8 as of Jun. 29, 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 Ad-Sol Nissin (TSE:3837) Overvalued in 2026?
Based on GuruFocus' analysis, Ad-Sol Nissin stock appears to be overvalued.
The current stock price of 円1,307.00 is trading 3.3% above its estimated GF Value™ of 円1,265.53.
GuruFocus considers Ad-Sol Nissin to be Fairly Valued.
Key valuation signals for TSE:3837:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: 円1,265.53 vs. price of 円1,307.00 (3.3% above fair value)
Industry Position: 60% above the Software median (#36 of 2743)
No single metric tells the full story. See the TSE:3837 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ad-Sol Nissin Corp develops information systems for enterprises. The company's segments include: Social Infrastructure Business, Advanced Industry Business. The Social Infrastructure Business develops system integration services in social infrastructures such as energy, road, aerospace, and others. Advanced Industry Business promotes Next Generation EV Vehicle, Industrial Equipment, and others.
97GF Score
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