Natoco Co (TSE:4627) Piotroski F-Score: 7 (As of Jul. 13, 2026) — 17% Above Median


TSE:4627 Natoco Co Ltd TSE:4627
76 GF Score
Price 円1,754.00
GF Value 円1,640.84
Valuation Fairly Valued
! 5 Warning Signs
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What is Natoco Co Piotroski F-Score?

Natoco Co TSE:4627 -0.06% 76 Piotroski F-Score is 7 as of Jul. 13, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates TSE:4627 with a GF Score™ of 76/100 and a GF Value™ of 円1,640.84 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,563 Chemicals companies, Natoco Co ranks better than 90.08% 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

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

TSE:4627' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Natoco Co was 9. The lowest was 5. And the median was 6.

Natoco Co  (TSE:4627) 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.


Natoco Co Piotroski F-Score Related Terms


Natoco Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Natoco 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.

Natoco Co Piotroski F-Score Chart

Natoco Co Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.00 5.00 5.00 6.00 7.00

Natoco Co Semi-Annual Data
Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24 Apr25 Oct25 Apr26
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 6.00 0.00 7.00 0.00

TSE:4627 vs LIN, SHW, ECL: Piotroski F-Score Comparison

For the Specialty Chemicals subindustry, Natoco 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.


Natoco Co Piotroski F-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Natoco Co's Piotroski F-Score distribution charts can be found below:

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


TSE:4627
76GF Score
Natoco Co Ltd TSE:4627
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 (Oct25) TTM:Last Year (Oct24) TTM:
Net Income was 円1,138 Mil.
Cash Flow from Operations was 円1,847 Mil.
Revenue was 円22,275 Mil.
Gross Profit was 円4,970 Mil.
Average Total Assets from the begining of this year (Oct24)
to the end of this year (Oct25) was (29829.477 + 31026.918) / 2 = 円30428.1975 Mil.
Total Assets at the begining of this year (Oct24) was 円29,829 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円21,112 Mil.
Total Current Liabilities was 円5,771 Mil.
Net Income was 円956 Mil.

Revenue was 円20,753 Mil.
Gross Profit was 円4,546 Mil.
Average Total Assets from the begining of last year (Oct23)
to the end of last year (Oct24) was (28840.931 + 29829.477) / 2 = 円29335.204 Mil.
Total Assets at the begining of last year (Oct23) was 円28,841 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円21,491 Mil.
Total Current Liabilities was 円5,823 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.

Natoco Co's current Net Income (TTM) was 1,138. ==> 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.

Natoco Co's current Cash Flow from Operations (TTM) was 1,847. ==> 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 (Oct24)
=1137.776/29829.477
=0.03814267

ROA (Last Year)=Net Income/Total Assets (Oct23)
=955.975/28840.931
=0.03314647

Natoco Co's return on assets of this year was 0.03814267. Natoco Co's return on assets of last year was 0.03314647. ==> 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.

Natoco Co's current Net Income (TTM) was 1,138. Natoco Co's current Cash Flow from Operations (TTM) was 1,847. ==> 1,847 > 1,138 ==> 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: Oct25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct24 to Oct25
=0/30428.1975
=0

Gearing (Last Year: Oct24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct23 to Oct24
=0/29335.204
=0

Natoco Co's gearing of this year was 0. Natoco 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: Oct25)=Total Current Assets/Total Current Liabilities
=21112.396/5771.071
=3.65831507

Current Ratio (Last Year: Oct24)=Total Current Assets/Total Current Liabilities
=21490.663/5822.989
=3.69065835

Natoco Co's current ratio of this year was 3.65831507. Natoco Co's current ratio of last year was 3.69065835. ==> 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.

Natoco Co's number of shares in issue this year was 7.554. Natoco Co's number of shares in issue last year was 7.551. ==> 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
=4969.828/22275.001
=0.22311236

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4545.961/20753.062
=0.21905013

Natoco Co's gross margin of this year was 0.22311236. Natoco Co's gross margin of last year was 0.21905013. ==> 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 (Oct24)
=22275.001/29829.477
=0.7467446

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct23)
=20753.062/28840.931
=0.71956977

Natoco Co's asset turnover of this year was 0.7467446. Natoco Co's asset turnover of last year was 0.71956977. ==> 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

Natoco Co 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?
Natoco Co (TSE:4627) has a Piotroski F-Score of 7 as of Jul. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Natoco Co and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Natoco Co's Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Natoco Co ranks #155 out of 1563 companies in the Chemicals industry, placing it in the top 9.9%.
Is Natoco Co's Piotroski F-Score too high?
Natoco Co's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 9.00. The Chemicals industry median Piotroski F-Score is 5.00. Natoco Co's value of 7 is 40% above this industry median. Based on the distribution chart, Natoco Co ranks #155 out of 1563 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Natoco Co has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Natoco Co's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Natoco Co ranks #155 out of 1563 companies for Piotroski F-Score. This places Natoco Co in the top 10% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Natoco Co's value of 7 is 40% above this benchmark. Historically, Natoco Co's own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Natoco 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,563 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. Natoco Co'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 Natoco Co and its competitors. For the Chemicals 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. Natoco Co's current Piotroski F-Score is 7, which is 17% 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 Natoco Co stock overvalued right now?
Based on GuruFocus' analysis, Natoco Co (TSE:4627) is currently considered Fairly Valued. The stock's GF Value™ is 円1,640.84, compared to a current price of 円1,754.00 — trading 6.9% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 40% above the Chemicals industry median of 5.00. Natoco Co's overall GF Score™ is 76/100 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 Natoco Co (TSE:4627), the current Piotroski F-Score is 7 as of Jul. 13, 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 Natoco Co (TSE:4627) Overvalued in 2026?

Based on GuruFocus' analysis, Natoco Co stock appears to be overvalued. The current stock price of 円1,754.00 is trading 6.9% above its estimated GF Value™ of 円1,640.84. GuruFocus considers Natoco Co to be Fairly Valued.

Key valuation signals for TSE:4627:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: 円1,640.84 vs. price of 円1,754.00 (6.9% above fair value)
  • GF Score™: 76/100 with 5 warning signs
  • Industry Position: 40% above the Chemicals median (#155 of 1563)

No single metric tells the full story. See the TSE:4627 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Natoco Co Business Description

Address 18 Shogayama Uchikoshi-cho, Miyoshi-shi Aichi, Miyoshi, JPN, 470-0213
Natoco Co Ltd is engaged in the business of manufacturing and sales of paints, ink, plastics, and fine chemical products and sales of related products. It also engaged in the collection, transportation, and disposal of industrial waste products. Its other products include such as toning system, general purpose thinner, environment compatible equipment.
76GF Score

Get the complete analysis for TSE:4627

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

円1,754.00
Price
円1,640.84
GF Value