PIA (TSE:4337) Piotroski F-Score: 7 (As of Jul. 06, 2026) — 40% Above Median


TSE:4337 PIA Corp TSE:4337
55 GF Score
Price 円2,686.00
GF Value 円4,124.51
Valuation Possible Value Trap
! 2 Warning Signs
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What is PIA Piotroski F-Score?

PIA TSE:4337 -1.00% 55 Piotroski F-Score is 7 as of Jul. 06, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates TSE:4337 with a GF Score™ of 55/100 and a GF Value™ of 円4,124.51 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 551 Interactive Media companies, PIA ranks better than 90.02% 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

PIA 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 PIA's Piotroski F-Score or its related term are showing as below:

TSE:4337' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of PIA was 7. The lowest was 1. And the median was 5.

PIA  (TSE:4337) 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.


PIA Piotroski F-Score Related Terms


PIA Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for PIA'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.

PIA Piotroski F-Score Chart

PIA Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 7.00 5.00 7.00 7.00

PIA Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 5.00 0.00 7.00 0.00 7.00

TSE:4337 vs GOOGL, META, SPOT: Piotroski F-Score Comparison

For the Internet Content & Information subindustry, PIA'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.


PIA Piotroski F-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, PIA's Piotroski F-Score distribution charts can be found below:

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


TSE:4337
55GF Score
PIA Corp TSE:4337
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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 円3,317 Mil.
Cash Flow from Operations was 円13,145 Mil.
Revenue was 円55,330 Mil.
Gross Profit was 円21,708 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (102150 + 117249) / 2 = 円109699.5 Mil.
Total Assets at the begining of this year (Mar25) was 円102,150 Mil.
Long-Term Debt & Capital Lease Obligation was 円14,799 Mil.
Total Current Assets was 円93,256 Mil.
Total Current Liabilities was 円89,564 Mil.
Net Income was 円1,591 Mil.

Revenue was 円45,362 Mil.
Gross Profit was 円16,936 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (90271 + 102150) / 2 = 円96210.5 Mil.
Total Assets at the begining of last year (Mar24) was 円90,271 Mil.
Long-Term Debt & Capital Lease Obligation was 円16,601 Mil.
Total Current Assets was 円79,662 Mil.
Total Current Liabilities was 円76,265 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.

PIA's current Net Income (TTM) was 3,317. ==> 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.

Score 1 if positive, 0 if negative.

PIA's current Cash Flow from Operations (TTM) was 13,145. ==> 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 (Mar25)
=3317/102150
=0.03247186

ROA (Last Year)=Net Income/Total Assets (Mar24)
=1591/90271
=0.01762471

PIA's return on assets of this year was 0.03247186. PIA's return on assets of last year was 0.01762471. ==> This year is higher. ==> Score 1.

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.

PIA's current Net Income (TTM) was 3,317. PIA's current Cash Flow from Operations (TTM) was 13,145. ==> 13,145 > 3,317 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=14799/109699.5
=0.1349049

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=16601/96210.5
=0.17254873

PIA's gearing of this year was 0.1349049. PIA's gearing of last year was 0.17254873. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=93256/89564
=1.04122192

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=79662/76265
=1.04454206

PIA's current ratio of this year was 1.04122192. PIA's current ratio of last year was 1.04454206. ==> 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.

PIA's number of shares in issue this year was 15.331. PIA's number of shares in issue last year was 15.297. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=21708/55330
=0.39233689

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=16936/45362
=0.37335214

PIA's gross margin of this year was 0.39233689. PIA's gross margin of last year was 0.37335214. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=55330/102150
=0.54165443

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=45362/90271
=0.50250911

PIA's asset turnover of this year was 0.54165443. PIA's asset turnover of last year was 0.50250911. ==> 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
=1+1+1+1+1+0+0+1+1
=7

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

PIA has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
PIA (TSE:4337) has a Piotroski F-Score of 7 as of Jul. 06, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PIA and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, PIA's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, PIA ranks #55 out of 551 companies in the Interactive Media industry, placing it in the top 10%.
Is PIA's Piotroski F-Score too high?
PIA's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Interactive Media industry median Piotroski F-Score is 5.00. PIA's value of 7 is 40% above this industry median. Based on the distribution chart, PIA ranks #55 out of 551 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, PIA has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PIA's Piotroski F-Score compare to GOOGL and META?
According to the Interactive Media industry distribution chart, PIA ranks #55 out of 551 companies for Piotroski F-Score. This places PIA in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. PIA's value of 7 is 40% above this benchmark. Historically, PIA's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, PIA 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 Interactive Media company?
The median Piotroski F-Score among Interactive Media companies is 5.00, based on 551 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. PIA'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 PIA and its competitors. For the Interactive Media 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. PIA's current Piotroski F-Score is 7, which is 40% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PIA stock overvalued right now?
Based on GuruFocus' analysis, PIA (TSE:4337) is currently considered Possible Value Trap. The stock's GF Value™ is 円4,124.51, compared to a current price of 円2,686.00 — trading 34.9% below its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Interactive Media industry median of 5.00. PIA's overall GF Score™ is 55/100 with 2 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 PIA (TSE:4337), the current Piotroski F-Score is 7 as of Jul. 06, 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 PIA (TSE:4337) Overvalued in 2026?

Based on GuruFocus' analysis, PIA stock appears to be undervalued. The current stock price of 円2,686.00 is trading 34.9% below its estimated GF Value™ of 円4,124.51. GuruFocus considers PIA to be Possible Value Trap.

Key valuation signals for TSE:4337:

  • Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
  • GF Value™: 円4,124.51 vs. price of 円2,686.00 (34.9% below fair value)
  • GF Score™: 55/100 with 2 warning signs
  • Industry Position: 40% above the Interactive Media median (#55 of 551)

No single metric tells the full story. See the TSE:4337 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PIA Business Description

Address 1-2-20 Higashi, Shibuya-ku, Shibuya First Tower, Tokyo, JPN, 150-0011
PIA Corp provides event ticketing services in Japan. The company sells tickets for concerts, sporting contests and other events of entertainment value through telephone operators, mobile phone services and a network of ticket stores.
55GF Score

Get the complete analysis for TSE:4337

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

円2,686.00
Price
円4,124.51
GF Value