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Medical Data Vision Co (TSE:3902) 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.
Medical Data Vision Co Piotroski F-Score Related Terms
Medical Data Vision Co Piotroski F-Score Historical Data
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The historical data trend for Medical Data Vision 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:3902 vs VEEV, TEM, BTSG: Piotroski F-Score Comparison
For the Health Information Services subindustry, Medical Data Vision 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.
Medical Data Vision Co Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Medical Data Vision Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Medical Data Vision 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.
Medical Data Vision Co's current Net Income (TTM) was 280.
==> 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.
Medical Data Vision Co's return on assets of this year was 0.0590094. Medical Data Vision Co's return on assets of last year was -0.12717273.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Medical Data Vision Co's gearing of this year was 0. Medical Data Vision Co's gearing of last year was 0.
==> 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
Medical Data Vision Co's current ratio of this year was 2.22195977. Medical Data Vision Co's current ratio of last year was 2.16289764.
==> 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.
Medical Data Vision Co's number of shares in issue this year was 37.857. Medical Data Vision Co's number of shares in issue last year was 38.16.
==> 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.
Medical Data Vision Co's gross margin of this year was 0.69631798. Medical Data Vision Co's gross margin of last year was 0.73326812.
==> 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
Medical Data Vision Co's asset turnover of this year was 1.37692362. Medical Data Vision Co's asset turnover of last year was 0.94948608.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Medical Data Vision Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Medical Data Vision Co (TSE:3902) has a Piotroski F-Score of 8 as of Aug. 14, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Medical Data Vision Co and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Medical Data Vision Co's Piotroski F-Score has ranged from 2.00 to 8.00.
Is Medical Data Vision Co's Piotroski F-Score too high?
Medical Data Vision Co'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 2.00 to a high of 8.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Medical Data Vision Co's value of 8 is 60% above this industry median. Overall, Medical Data Vision Co has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does Medical Data Vision Co's Piotroski F-Score compare to VEEV and TEM?
Medical Data Vision Co's Piotroski F-Score of 8 can be compared against companies in the Healthcare Providers & Services industry. The industry median Piotroski F-Score is 5.00. Medical Data Vision Co's value of 8 is 60% above this benchmark. Historically, Medical Data Vision Co's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Medical Data Vision 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 Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 641 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. Medical Data Vision Co'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 Medical Data Vision Co 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. Medical Data Vision Co'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 Medical Data Vision Co stock overvalued right now?
Medical Data Vision Co (TSE:3902) has a current Piotroski F-Score of 8. The stock's GF Value™ is 円657.61, compared to a current price of 円1,684.00 — trading 156.1% 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 Healthcare Providers & Services industry median of 5.00. Medical Data Vision Co's overall GF Score™ is 56/100 with 7 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 Medical Data Vision Co (TSE:3902), the current Piotroski F-Score is 8 as of Aug. 14, 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 Medical Data Vision Co (TSE:3902) Overvalued in 2026?
Based on GuruFocus' analysis, Medical Data Vision Co stock appears to be overvalued.
The current stock price of 円1,684.00 is trading 156.1% above its estimated GF Value™ of 円657.61.
Key valuation signals for TSE:3902:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: 円657.61 vs. price of 円1,684.00 (156.1% above fair value)
Industry Position: 60% above the Healthcare Providers & Services median
No single metric tells the full story. See the TSE:3902 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Medical Data Vision Co Ltd provides health information services. The company is engaged in Development, production, sales, Maintenance work of medical information integration system, Analysis, survey and consulting of various medical data, Planning, design, development, and operation of the portal site. Its products include Calteco that allows patients to store and view a part of clinical information themselves and CADA payment service such as medical expenses postpay service that patients can freely set payment terms. Medical Code is a system that utilizes standard format data such as hospitalized outpatient EF and electronic reception data in DPC format to support solving various management problems and other related products.
56GF Score
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