SuRaLa Net Co (TSE:3998) Piotroski F-Score: 6 (As of Jul. 19, 2026) — Near Median

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TSE:3998 SuRaLa Net Co Ltd TSE:3998
71 GF Score
Price 円307.00
GF Value 円392.31
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is SuRaLa Net Co Piotroski F-Score?

SuRaLa Net Co TSE:3998 -0.32% 71 Piotroski F-Score is 6 as of Jul. 19, 2026, which is at its 10-year median of 6.00. GuruFocus rates TSE:3998 with a GF Score™ of 71/100 and a GF Value™ of 円392.31 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 251 Education companies, SuRaLa Net Co ranks better than 67.33% 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

SuRaLa Net Co 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 SuRaLa Net Co's Piotroski F-Score or its related term are showing as below:

TSE:3998' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 11 years, the highest Piotroski F-Score of SuRaLa Net Co was 8. The lowest was 3. And the median was 6.

SuRaLa Net Co  (TSE:3998) 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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


SuRaLa Net Co Piotroski F-Score Related Terms


SuRaLa Net Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for SuRaLa Net 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.

SuRaLa Net Co Piotroski F-Score Chart

SuRaLa Net Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 3.00 6.00 6.00 6.00

SuRaLa Net Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 6.00 0.00

TSE:3998 vs EDU, TAL, LAUR: Piotroski F-Score Comparison

For the Education & Training Services subindustry, SuRaLa Net 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.


SuRaLa Net Co Piotroski F-Score vs Education Industry

For the Education industry and Consumer Defensive sector, SuRaLa Net Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where SuRaLa Net Co's Piotroski F-Score falls into.


TSE:3998
71GF Score
SuRaLa Net Co Ltd TSE:3998
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was 円-3.8 Mil.
Cash Flow from Operations was 円239.6 Mil.
Revenue was 円1,932.0 Mil.
Gross Profit was 円1,181.2 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (2637.02 + 2481.395) / 2 = 円2559.2075 Mil.
Total Assets at the begining of this year (Dec24) was 円2,637.0 Mil.
Long-Term Debt & Capital Lease Obligation was 円0.0 Mil.
Total Current Assets was 円1,155.7 Mil.
Total Current Liabilities was 円264.0 Mil.
Net Income was 円72.9 Mil.

Revenue was 円1,948.0 Mil.
Gross Profit was 円1,259.7 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (2708.655 + 2637.02) / 2 = 円2672.8375 Mil.
Total Assets at the begining of last year (Dec23) was 円2,708.7 Mil.
Long-Term Debt & Capital Lease Obligation was 円0.0 Mil.
Total Current Assets was 円1,446.6 Mil.
Total Current Liabilities was 円362.4 Mil.

*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.

SuRaLa Net Co's current Net Income (TTM) was -3.8. ==> Negative ==> Score 0.

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.

Score 1 if positive, 0 if negative.

SuRaLa Net Co's current Cash Flow from Operations (TTM) was 239.6. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec24)
=-3.78/2637.02
=-0.00143344

ROA (Last Year)=Net Income/Total Assets (Dec23)
=72.896/2708.655
=0.02691225

SuRaLa Net Co's return on assets of this year was -0.00143344. SuRaLa Net Co's return on assets of last year was 0.02691225. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

SuRaLa Net Co's current Net Income (TTM) was -3.8. SuRaLa Net Co's current Cash Flow from Operations (TTM) was 239.6. ==> 239.6 > -3.8 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=0/2559.2075
=0

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=0/2672.8375
=0

SuRaLa Net Co's gearing of this year was 0. SuRaLa Net 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

Current Ratio (This Year: Dec25)=Total Current Assets/Total Current Liabilities
=1155.735/263.968
=4.3783148

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=1446.639/362.357
=3.99230317

SuRaLa Net Co's current ratio of this year was 4.3783148. SuRaLa Net Co's current ratio of last year was 3.99230317. ==> 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.

SuRaLa Net Co's number of shares in issue this year was 6.339. SuRaLa Net Co's number of shares in issue last year was 6.49. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1181.217/1932.007
=0.61139375

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1259.721/1947.983
=0.64667967

SuRaLa Net Co's gross margin of this year was 0.61139375. SuRaLa Net Co's gross margin of last year was 0.64667967. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec24)
=1932.007/2637.02
=0.73264784

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=1947.983/2708.655
=0.71916985

SuRaLa Net Co's asset turnover of this year was 0.73264784. SuRaLa Net Co's asset turnover of last year was 0.71916985. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+1+1+0+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

SuRaLa Net Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
SuRaLa Net Co (TSE:3998) has a Piotroski F-Score of 6 as of Jul. 19, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on SuRaLa Net Co and its competitors. This is near median its historical median of 6.00. Over the past decade, SuRaLa Net Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, SuRaLa Net Co ranks #82 out of 251 companies in the Education industry, placing it in the top 32.7%.
Is SuRaLa Net Co's Piotroski F-Score too high?
SuRaLa Net Co's 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 8.00. The Education industry median Piotroski F-Score is 5.00. SuRaLa Net Co's value of 6 is 20% above this industry median. Based on the distribution chart, SuRaLa Net Co ranks #82 out of 251 companies in the Education industry, which is above the industry midpoint. Overall, SuRaLa Net Co has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SuRaLa Net Co's Piotroski F-Score compare to EDU and TAL?
According to the Education industry distribution chart, SuRaLa Net Co ranks #82 out of 251 companies for Piotroski F-Score. This puts SuRaLa Net Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. SuRaLa Net Co's value of 6 is 20% above this benchmark. Historically, SuRaLa Net Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, SuRaLa Net 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 an Education company?
The median Piotroski F-Score among Education companies is 5.00, based on 251 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. SuRaLa Net Co'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 SuRaLa Net Co and its competitors. For the Education 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. SuRaLa Net Co'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 SuRaLa Net Co stock overvalued right now?
Based on GuruFocus' analysis, SuRaLa Net Co (TSE:3998) is currently considered Modestly Undervalued. The stock's GF Value™ is 円392.31, compared to a current price of 円307.00 — trading 21.7% below 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 Education industry median of 5.00. SuRaLa Net Co's overall GF Score™ is 71/100 with 5 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 SuRaLa Net Co (TSE:3998), the current Piotroski F-Score is 6 as of Jul. 19, 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 SuRaLa Net Co (TSE:3998) Overvalued in 2026?

Based on GuruFocus' analysis, SuRaLa Net Co stock appears to be undervalued. The current stock price of 円307.00 is trading 21.7% below its estimated GF Value™ of 円392.31. GuruFocus considers SuRaLa Net Co to be Modestly Undervalued.

Key valuation signals for TSE:3998:

  • Piotroski F-Score: 6 (near median its 10-year median of 6.00)
  • GF Value™: 円392.31 vs. price of 円307.00 (21.7% below fair value)
  • GF Score™: 71/100 with 5 warning signs
  • Industry Position: 20% above the Education median (#82 of 251)

No single metric tells the full story. See the TSE:3998 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SuRaLa Net Co Business Description

Address 1-14-10 Uchikanda, Chiyoda-ku, Tokyo, JPN, 101-0047
SuRaLa Net Co Ltd is a Japanese company engaged in providing educational services through e-learning and operation consulting, marketing promotion and website operation.
71GF Score

Get the complete analysis for TSE:3998

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円307.00
Price
円392.31
GF Value