NFK HOLDINGS Co (TSE:6494) Piotroski F-Score: 5 (As of Jul. 26, 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:6494 NFK HOLDINGS Co Ltd TSE:6494
57 GF Score
Price 円99.00
GF Value 円165.18
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is NFK HOLDINGS Co Piotroski F-Score?

NFK HOLDINGS Co TSE:6494 +1.02% 57 Piotroski F-Score is 5 as of Jul. 26, 2026, which is at its 10-year median of 5.00. GuruFocus rates TSE:6494 with a GF Score™ of 57/100 and a GF Value™ of 円165.18 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 2,972 Industrial Products companies, NFK HOLDINGS Co ranks better than 56.33% on this metric.

The zones of discrimination were as such:

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

NFK HOLDINGS Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

TSE:6494' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of NFK HOLDINGS Co was 7. The lowest was 2. And the median was 5.

NFK HOLDINGS Co  (TSE:6494) 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.


NFK HOLDINGS Co Piotroski F-Score Related Terms


NFK HOLDINGS Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for NFK HOLDINGS 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.

NFK HOLDINGS Co Piotroski F-Score Chart

NFK HOLDINGS Co 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 6.00 3.00 5.00 6.00 5.00

NFK HOLDINGS Co 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 6.00 0.00 5.00

TSE:6494 vs GEV, ETN, PH: Piotroski F-Score Comparison

For the Specialty Industrial Machinery subindustry, NFK HOLDINGS 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.


NFK HOLDINGS Co Piotroski F-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, NFK HOLDINGS Co's Piotroski F-Score distribution charts can be found below:

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


TSE:6494
57GF Score
NFK HOLDINGS Co Ltd TSE:6494
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84 Mil.
Cash Flow from Operations was 円270 Mil.
Revenue was 円3,683 Mil.
Gross Profit was 円1,160 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (5742.525 + 8164.504) / 2 = 円6953.5145 Mil.
Total Assets at the begining of this year (Mar25) was 円5,743 Mil.
Long-Term Debt & Capital Lease Obligation was 円498 Mil.
Total Current Assets was 円6,041 Mil.
Total Current Liabilities was 円977 Mil.
Net Income was 円106 Mil.

Revenue was 円2,082 Mil.
Gross Profit was 円589 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (5643.275 + 5742.525) / 2 = 円5692.9 Mil.
Total Assets at the begining of last year (Mar24) was 円5,643 Mil.
Long-Term Debt & Capital Lease Obligation was 円25 Mil.
Total Current Assets was 円3,772 Mil.
Total Current Liabilities was 円408 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.

NFK HOLDINGS Co's current Net Income (TTM) was 84. ==> 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.

NFK HOLDINGS Co's current Cash Flow from Operations (TTM) was 270. ==> 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)
=83.974/5742.525
=0.01462318

ROA (Last Year)=Net Income/Total Assets (Mar24)
=105.63/5643.275
=0.01871785

NFK HOLDINGS Co's return on assets of this year was 0.01462318. NFK HOLDINGS Co's return on assets of last year was 0.01871785. ==> 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.

NFK HOLDINGS Co's current Net Income (TTM) was 84. NFK HOLDINGS Co's current Cash Flow from Operations (TTM) was 270. ==> 270 > 84 ==> 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
=498.259/6953.5145
=0.07165571

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=25.213/5692.9
=0.00442885

NFK HOLDINGS Co's gearing of this year was 0.07165571. NFK HOLDINGS Co's gearing of last year was 0.00442885. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=6041.04/977.205
=6.18195773

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=3772.11/408.445
=9.23529484

NFK HOLDINGS Co's current ratio of this year was 6.18195773. NFK HOLDINGS Co's current ratio of last year was 9.23529484. ==> 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.

NFK HOLDINGS Co's number of shares in issue this year was 46.931. NFK HOLDINGS Co's number of shares in issue last year was 44.051. ==> 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
=1159.596/3683.444
=0.31481298

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=588.985/2082.243
=0.28286084

NFK HOLDINGS Co's gross margin of this year was 0.31481298. NFK HOLDINGS Co's gross margin of last year was 0.28286084. ==> 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)
=3683.444/5742.525
=0.64143282

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=2082.243/5643.275
=0.36897777

NFK HOLDINGS Co's asset turnover of this year was 0.64143282. NFK HOLDINGS Co's asset turnover of last year was 0.36897777. ==> 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+0+1+0+0+0+1+1
=5

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

NFK HOLDINGS Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
NFK HOLDINGS Co (TSE:6494) has a Piotroski F-Score of 5 as of Jul. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on NFK HOLDINGS Co and its competitors. This is near median its historical median of 5.00. Over the past decade, NFK HOLDINGS Co's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, NFK HOLDINGS Co ranks #1298 out of 2972 companies in the Industrial Products industry, placing it in the top 43.7%.
Is NFK HOLDINGS Co's Piotroski F-Score too high?
NFK HOLDINGS Co's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Industrial Products industry median Piotroski F-Score is 5.00. NFK HOLDINGS Co's value of 5 is 0% at this industry median. Based on the distribution chart, NFK HOLDINGS Co ranks #1298 out of 2972 companies in the Industrial Products industry, which is above the industry midpoint. Overall, NFK HOLDINGS Co has a GF Score™ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NFK HOLDINGS Co's Piotroski F-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, NFK HOLDINGS Co ranks #1298 out of 2972 companies for Piotroski F-Score. This puts NFK HOLDINGS Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. NFK HOLDINGS Co's value of 5 is 0% at this benchmark. Historically, NFK HOLDINGS Co'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 5.00 vs. the industry median of 5.00, NFK HOLDINGS Co has consistently been at 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 Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,972 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. NFK HOLDINGS Co's current Piotroski F-Score of 5 is 0% at 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 NFK HOLDINGS Co and its competitors. For the Industrial Products 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. NFK HOLDINGS Co's current Piotroski F-Score is 5, which is near 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 NFK HOLDINGS Co stock overvalued right now?
Based on GuruFocus' analysis, NFK HOLDINGS Co (TSE:6494) is currently considered Significantly Undervalued. The stock's GF Value™ is 円165.18, compared to a current price of 円99.00 — trading 40.1% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Industrial Products industry median of 5.00. NFK HOLDINGS Co's overall GF Score™ is 57/100 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 NFK HOLDINGS Co (TSE:6494), the current Piotroski F-Score is 5 as of Jul. 26, 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 NFK HOLDINGS Co (TSE:6494) Overvalued in 2026?

Based on GuruFocus' analysis, NFK HOLDINGS Co stock appears to be undervalued. The current stock price of 円99.00 is trading 40.1% below its estimated GF Value™ of 円165.18. GuruFocus considers NFK HOLDINGS Co to be Significantly Undervalued.

Key valuation signals for TSE:6494:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: 円165.18 vs. price of 円99.00 (40.1% below fair value)
  • GF Score™: 57/100 with 1 warning sign
  • Industry Position: 0% at the Industrial Products median (#1298 of 2972)

No single metric tells the full story. See the TSE:6494 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NFK HOLDINGS Co Business Description

Address 7-8-4 Minamiaoyama, Minato-ku, Tokyo, JPN, 107-0062
NFK HOLDINGS Co Ltd is a Japan-based company engages in the manufacture and sale of industrial furnace combustion equipment.
57GF Score

Get the complete analysis for TSE:6494

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

円99.00
Price
円165.18
GF Value