Tosnet (TSE:4754) Piotroski F-Score: 7 (As of Jun. 28, 2026) — 17% Above Median


TSE:4754 Tosnet Corp TSE:4754
74 GF Score
Price 円1,457.00
GF Value 円1,366.93
Valuation Fairly Valued
! 1 Warning Sign
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What is Tosnet Piotroski F-Score?

Tosnet TSE:4754 -1.42% 74 Piotroski F-Score is 7 as of Jun. 28, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates TSE:4754 with a GF Score™ of 74/100 and a GF Value™ of 円1,366.93 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,063 Business Services companies, Tosnet ranks better than 88.99% 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

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

TSE:4754' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Tosnet was 8. The lowest was 3. And the median was 6.

Tosnet  (TSE:4754) 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.


Tosnet Piotroski F-Score Related Terms


Tosnet Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Tosnet'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.

Tosnet Piotroski F-Score Chart

Tosnet Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 6.00 7.00 7.00

Tosnet 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 0.00 7.00 0.00 7.00 0.00

TSE:4754 vs ALLE, MSA, ADT: Piotroski F-Score Comparison

For the Security & Protection Services subindustry, Tosnet'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.


Tosnet Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Tosnet's Piotroski F-Score distribution charts can be found below:

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


TSE:4754
74GF Score
Tosnet Corp TSE:4754
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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was 円758 Mil.
Cash Flow from Operations was 円797 Mil.
Revenue was 円11,907 Mil.
Gross Profit was 円3,948 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was (11190.707 + 11273.212) / 2 = 円11231.9595 Mil.
Total Assets at the begining of this year (Sep24) was 円11,191 Mil.
Long-Term Debt & Capital Lease Obligation was 円385 Mil.
Total Current Assets was 円7,832 Mil.
Total Current Liabilities was 円2,069 Mil.
Net Income was 円892 Mil.

Revenue was 円11,560 Mil.
Gross Profit was 円3,800 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was (10551.042 + 11190.707) / 2 = 円10870.8745 Mil.
Total Assets at the begining of last year (Sep23) was 円10,551 Mil.
Long-Term Debt & Capital Lease Obligation was 円495 Mil.
Total Current Assets was 円7,595 Mil.
Total Current Liabilities was 円2,386 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.

Tosnet's current Net Income (TTM) was 758. ==> 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.

Tosnet's current Cash Flow from Operations (TTM) was 797. ==> 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 (Sep24)
=757.668/11190.707
=0.06770511

ROA (Last Year)=Net Income/Total Assets (Sep23)
=891.649/10551.042
=0.08450815

Tosnet's return on assets of this year was 0.06770511. Tosnet's return on assets of last year was 0.08450815. ==> 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.

Tosnet's current Net Income (TTM) was 758. Tosnet's current Cash Flow from Operations (TTM) was 797. ==> 797 > 758 ==> 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: Sep25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep24 to Sep25
=385.101/11231.9595
=0.03428618

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=494.587/10870.8745
=0.04549652

Tosnet's gearing of this year was 0.03428618. Tosnet's gearing of last year was 0.04549652. ==> 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: Sep25)=Total Current Assets/Total Current Liabilities
=7832.023/2069.473
=3.7845495

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=7594.607/2386.451
=3.18238548

Tosnet's current ratio of this year was 3.7845495. Tosnet's current ratio of last year was 3.18238548. ==> 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.

Tosnet's number of shares in issue this year was 4.662. Tosnet's number of shares in issue last year was 4.727. ==> 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
=3947.546/11907
=0.33153154

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3800.113/11559.746
=0.32873672

Tosnet's gross margin of this year was 0.33153154. Tosnet's gross margin of last year was 0.32873672. ==> 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 (Sep24)
=11907/11190.707
=1.06400784

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=11559.746/10551.042
=1.09560231

Tosnet's asset turnover of this year was 1.06400784. Tosnet's asset turnover of last year was 1.09560231. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

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

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

Tosnet 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?
Tosnet (TSE:4754) has a Piotroski F-Score of 7 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tosnet and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Tosnet's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Tosnet ranks #117 out of 1063 companies in the Business Services industry, placing it in the top 11%.
Is Tosnet's Piotroski F-Score too high?
Tosnet'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 3.00 to a high of 8.00. The Business Services industry median Piotroski F-Score is 5.00. Tosnet's value of 7 is 40% above this industry median. Based on the distribution chart, Tosnet ranks #117 out of 1063 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Tosnet has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tosnet's Piotroski F-Score compare to ALLE and MSA?
According to the Business Services industry distribution chart, Tosnet ranks #117 out of 1063 companies for Piotroski F-Score. This places Tosnet in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Tosnet's value of 7 is 40% above this benchmark. Historically, Tosnet'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, Tosnet 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 Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,063 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. Tosnet'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 Tosnet and its competitors. For the Business 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. Tosnet'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 Tosnet stock overvalued right now?
Based on GuruFocus' analysis, Tosnet (TSE:4754) is currently considered Fairly Valued. The stock's GF Value™ is 円1,366.93, compared to a current price of 円1,457.00 — trading 6.6% 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 Business Services industry median of 5.00. Tosnet's overall GF Score™ is 74/100 with 1 warning sign 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 Tosnet (TSE:4754), the current Piotroski F-Score is 7 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 Tosnet (TSE:4754) Overvalued in 2026?

Based on GuruFocus' analysis, Tosnet stock appears to be overvalued. The current stock price of 円1,457.00 is trading 6.6% above its estimated GF Value™ of 円1,366.93. GuruFocus considers Tosnet to be Fairly Valued.

Key valuation signals for TSE:4754:

  • Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
  • GF Value™: 円1,366.93 vs. price of 円1,457.00 (6.6% above fair value)
  • GF Score™: 74/100 with 1 warning sign
  • Industry Position: 40% above the Business Services median (#117 of 1063)

No single metric tells the full story. See the TSE:4754 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tosnet Business Description

Address 1-10-1 Miyagino, Miyagino-ku, Miyagi, Sendai, JPN, 983-0045
Tosnet Corp along with its subsidiaries provides security and related services. Its services include static guard service, crowd control service, traffic control service, retail security service. It offers access control in hotels and office buildings, crime disaster management, guarding, patrol, surveillance, traffic control and road safety services, among others. Its other services include Power Supply Car, Mailing Service, and Building Management.
74GF Score

Get the complete analysis for TSE:4754

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

円1,457.00
Price
円1,366.93
GF Value