Wills (TSE:4482) Piotroski F-Score: 8 (As of Jun. 28, 2026) — 33% Above Median


TSE:4482 Wills Inc TSE:4482
89 GF Score
Price 円710.00
GF Value 円942.17
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Wills Piotroski F-Score?

Wills TSE:4482 -0.42% 89 Piotroski F-Score is 8 as of Jun. 28, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates TSE:4482 with a GF Score™ of 89/100 and a GF Value™ of 円942.17 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 550 Interactive Media companies, Wills ranks better than 97.82% 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

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

TSE:4482' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 8

During the past 9 years, the highest Piotroski F-Score of Wills was 9. The lowest was 4. And the median was 6.

Wills  (TSE:4482) 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.


Wills Piotroski F-Score Related Terms


Wills Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Wills'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.

Wills Piotroski F-Score Chart

Wills Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 6.00 6.00 9.00 8.00

Wills Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 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 9.00 0.00 0.00 8.00 0.00

TSE:4482 vs GOOGL, META, SPOT: Piotroski F-Score Comparison

For the Internet Content & Information subindustry, Wills'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.


Wills Piotroski F-Score vs Interactive Media Industry

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

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


TSE:4482
89GF Score
Wills Inc TSE:4482
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839 Mil.
Cash Flow from Operations was 円1,383 Mil.
Revenue was 円6,052 Mil.
Gross Profit was 円2,837 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (4264.211 + 4822.886) / 2 = 円4543.5485 Mil.
Total Assets at the begining of this year (Dec24) was 円4,264 Mil.
Long-Term Debt & Capital Lease Obligation was 円14 Mil.
Total Current Assets was 円3,646 Mil.
Total Current Liabilities was 円2,211 Mil.
Net Income was 円671 Mil.

Revenue was 円5,072 Mil.
Gross Profit was 円2,466 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (3662.734 + 4264.211) / 2 = 円3963.4725 Mil.
Total Assets at the begining of last year (Dec23) was 円3,663 Mil.
Long-Term Debt & Capital Lease Obligation was 円23 Mil.
Total Current Assets was 円3,330 Mil.
Total Current Liabilities was 円2,099 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.

Wills's current Net Income (TTM) was 839. ==> 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.

Wills's current Cash Flow from Operations (TTM) was 1,383. ==> 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)
=839.094/4264.211
=0.19677591

ROA (Last Year)=Net Income/Total Assets (Dec23)
=670.706/3662.734
=0.18311622

Wills's return on assets of this year was 0.19677591. Wills's return on assets of last year was 0.18311622. ==> 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.

Wills's current Net Income (TTM) was 839. Wills's current Cash Flow from Operations (TTM) was 1,383. ==> 1,383 > 839 ==> 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
=13.5/4543.5485
=0.00297125

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=22.5/3963.4725
=0.00567684

Wills's gearing of this year was 0.00297125. Wills's gearing of last year was 0.00567684. ==> 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
=3646.22/2211.445
=1.64879524

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=3330.415/2099.394
=1.58636969

Wills's current ratio of this year was 1.64879524. Wills's current ratio of last year was 1.58636969. ==> 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.

Wills's number of shares in issue this year was 20.268. Wills's number of shares in issue last year was 20.666. ==> 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
=2836.88/6051.801
=0.46876624

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2465.578/5072.384
=0.48607874

Wills's gross margin of this year was 0.46876624. Wills's gross margin of last year was 0.48607874. ==> 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)
=6051.801/4264.211
=1.41920768

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=5072.384/3662.734
=1.38486278

Wills's asset turnover of this year was 1.41920768. Wills's asset turnover of last year was 1.38486278. ==> 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+1+1+0+1
=8

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

Wills has an F-score of 8. 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 8 mean?
Wills (TSE:4482) has a Piotroski F-Score of 8 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Wills and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Wills' Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Wills ranks #12 out of 550 companies in the Interactive Media industry, placing it in the top 2.2%.
Is Wills' Piotroski F-Score too high?
Wills' 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 9.00. The Interactive Media industry median Piotroski F-Score is 5.00. Wills' value of 8 is 60% above this industry median. Based on the distribution chart, Wills ranks #12 out of 550 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. Overall, Wills has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Wills' Piotroski F-Score compare to GOOGL and META?
According to the Interactive Media industry distribution chart, Wills ranks #12 out of 550 companies for Piotroski F-Score. This places Wills in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Wills' value of 8 is 60% above this benchmark. Historically, Wills' own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Wills 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 550 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. Wills'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 Wills 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. Wills'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 Wills stock overvalued right now?
Based on GuruFocus' analysis, Wills (TSE:4482) is currently considered Modestly Undervalued. The stock's GF Value™ is 円942.17, compared to a current price of 円710.00 — trading 24.6% below 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 Interactive Media industry median of 5.00. Wills' overall GF Score™ is 89/100 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 Wills (TSE:4482), the current Piotroski F-Score is 8 as of Jun. 28, 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 Wills (TSE:4482) Overvalued in 2026?

Based on GuruFocus' analysis, Wills stock appears to be undervalued. The current stock price of 円710.00 is trading 24.6% below its estimated GF Value™ of 円942.17. GuruFocus considers Wills to be Modestly Undervalued.

Key valuation signals for TSE:4482:

  • Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
  • GF Value™: 円942.17 vs. price of 円710.00 (24.6% below fair value)
  • GF Score™: 89/100 with 2 warning signs
  • Industry Position: 60% above the Interactive Media median (#12 of 550)

No single metric tells the full story. See the TSE:4482 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Wills Business Description

Address 3-17 Toranomon 2-chome, Minato-ku, 6th Floor Toranomon 2-chome Tower, Tokyo, JPN, 105-0001
Wills Inc is providing shareholder management services through the operation of Premium Special Offer Club and Premium Special Offer Club PORTAL and the operation of IR-navi. The IR Navi provides information infrastructure that connects business companies and institutional investors via the Internet. The company operates in two segments, which include the Shareholder Management Platform business and the Advertising Business.
89GF Score

Get the complete analysis for TSE:4482

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

円710.00
Price
円942.17
GF Value