Tadano (TSE:6395) Piotroski F-Score: 3 (As of Jul. 21, 2026) — 25% Below Median

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TSE:6395 Tadano Ltd TSE:6395
79 GF Score
Price 円1,268.00
GF Value 円1,505.80
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Tadano Piotroski F-Score?

Tadano TSE:6395 +1.28% 79 Piotroski F-Score is 3 as of Jul. 21, 2026, which is 25% below its 10-year median of 4.00. GuruFocus rates TSE:6395 with a GF Score™ of 79/100 and a GF Value™ of 円1,505.80 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 207 Farm & Heavy Construction Machinery companies, Tadano ranks worse than 85.99% on this metric.

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Tadano has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Tadano's Piotroski F-Score or its related term are showing as below:

TSE:6395' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 7
Current: 3

During the past 13 years, the highest Piotroski F-Score of Tadano was 7. The lowest was 2. And the median was 4.

Tadano  (TSE:6395) 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.


Tadano Piotroski F-Score Related Terms


Tadano Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Tadano'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.

Tadano Piotroski F-Score Chart

Tadano Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 2.00 7.00 6.00 3.00

Tadano Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 4.00 0.00

TSE:6395 vs CAT, DE, PCAR: Piotroski F-Score Comparison

For the Farm & Heavy Construction Machinery subindustry, Tadano'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.


Tadano Piotroski F-Score vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Tadano's Piotroski F-Score distribution charts can be found below:

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


TSE:6395
79GF Score
Tadano Ltd TSE:6395
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 (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 円6,642 Mil.
Cash Flow from Operations was 円26 Mil.
Revenue was 円291,500 Mil.
Gross Profit was 円84,517 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was (365244 + 403422) / 2 = 円384333 Mil.
Total Assets at the begining of this year (Dec23) was 円365,244 Mil.
Long-Term Debt & Capital Lease Obligation was 円61,894 Mil.
Total Current Assets was 円292,387 Mil.
Total Current Liabilities was 円138,372 Mil.
Net Income was 円7,773 Mil.

Revenue was 円280,266 Mil.
Gross Profit was 円75,346 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Dec23) was (344719 + 365244) / 2 = 円354981.5 Mil.
Total Assets at the begining of last year (Mar22) was 円344,719 Mil.
Long-Term Debt & Capital Lease Obligation was 円45,470 Mil.
Total Current Assets was 円278,221 Mil.
Total Current Liabilities was 円125,005 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.

Tadano's current Net Income (TTM) was 6,642. ==> 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.

Tadano's current Cash Flow from Operations (TTM) was 26. ==> 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 (Dec23)
=6642/365244
=0.0181851

ROA (Last Year)=Net Income/Total Assets (Mar22)
=7773/344719
=0.0225488

Tadano's return on assets of this year was 0.0181851. Tadano's return on assets of last year was 0.0225488. ==> 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.

Tadano's current Net Income (TTM) was 6,642. Tadano's current Cash Flow from Operations (TTM) was 26. ==> 26 <= 6,642 ==> CFROA <= ROA ==> Score 0.

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: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=61894/384333
=0.16104264

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Dec23
=45470/354981.5
=0.12809118

Tadano's gearing of this year was 0.16104264. Tadano's gearing of last year was 0.12809118. ==> Last year is lower than this year ==> Score 0.

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: Dec24)=Total Current Assets/Total Current Liabilities
=292387/138372
=2.11305033

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=278221/125005
=2.22567897

Tadano's current ratio of this year was 2.11305033. Tadano's current ratio of last year was 2.22567897. ==> 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.

Tadano's number of shares in issue this year was 127.025. Tadano's number of shares in issue last year was 126.877. ==> 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
=84517/291500
=0.28993825

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=75346/280266
=0.26883746

Tadano's gross margin of this year was 0.28993825. Tadano's gross margin of last year was 0.26883746. ==> 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 (Dec23)
=291500/365244
=0.79809661

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=280266/344719
=0.81302742

Tadano's asset turnover of this year was 0.79809661. Tadano's asset turnover of last year was 0.81302742. ==> 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+0+0+0+0+1+0
=3

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

Tadano has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 3 mean?
Tadano (TSE:6395) has a Piotroski F-Score of 3 as of Jul. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tadano and its competitors. This is 25% below median its historical median of 4.00. Over the past decade, Tadano's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Tadano ranks #178 out of 207 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 86%.
Is Tadano's Piotroski F-Score too high?
Tadano's current Piotroski F-Score of 3 is 25% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Farm & Heavy Construction Machinery industry median Piotroski F-Score is 5.00. Tadano's value of 3 is 40% below this industry median. Based on the distribution chart, Tadano ranks #178 out of 207 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Tadano has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tadano's Piotroski F-Score compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Tadano ranks #178 out of 207 companies for Piotroski F-Score. This places Tadano in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Tadano's value of 3 is 40% below this benchmark. Historically, Tadano's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Tadano has consistently been below 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 Farm & Heavy Construction Machinery company?
The median Piotroski F-Score among Farm & Heavy Construction Machinery companies is 5.00, based on 207 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. Tadano's current Piotroski F-Score of 3 is 40% below 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 Tadano and its competitors. For the Farm & Heavy Construction Machinery 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. Tadano's current Piotroski F-Score is 3, which is 25% below median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tadano stock overvalued right now?
Based on GuruFocus' analysis, Tadano (TSE:6395) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,505.80, compared to a current price of 円1,268.00 — trading 15.8% below its estimated fair value. The current Piotroski F-Score is 3, which is 25% below median its 10-year median of 4.00 and 40% below the Farm & Heavy Construction Machinery industry median of 5.00. Tadano's overall GF Score™ is 79/100 with 3 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 Tadano (TSE:6395), the current Piotroski F-Score is 3 as of Jul. 21, 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 Tadano (TSE:6395) Overvalued in 2026?

Based on GuruFocus' analysis, Tadano stock appears to be undervalued. The current stock price of 円1,268.00 is trading 15.8% below its estimated GF Value™ of 円1,505.80. GuruFocus considers Tadano to be Modestly Undervalued.

Key valuation signals for TSE:6395:

  • Piotroski F-Score: 3 (25% below median its 10-year median of 4.00)
  • GF Value™: 円1,505.80 vs. price of 円1,268.00 (15.8% below fair value)
  • GF Score™: 79/100 with 3 warning signs
  • Industry Position: 40% below the Farm & Heavy Construction Machinery median (#178 of 207)

No single metric tells the full story. See the TSE:6395 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tadano Business Description

Address 34 Kou, Nittacho, Kagawa Prefecture, Takamatsu City1, JPN, 761-0185
Tadano Ltd manufactures cranes, aerial work platforms, and other components. Mobile cranes account for majority of sales, but the company has diversified into truck cranes, loader cranes, and other special purpose vehicles. Its equipment is built for various terrains with multiple steering and acceleration controls. Tadano has four reportable segments: Japan (majority of total revenue), Europe, Americas and Oceania. Its research and development division looks to utilize innovative and cutting-edge technologies for both domestic and overseas markets. The company offers used equipment and various cylinders to help meet urgent demand. A wide range of experienced and trained technicians help customize components for the operating machines.
79GF Score

Get the complete analysis for TSE:6395

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

円1,268.00
Price
円1,505.80
GF Value