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Axial Retailing (TSE:8255) Piotroski F-Score : 7 (As of Jul. 22, 2025)


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What is Axial Retailing Piotroski F-Score?

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

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

TSE:8255' s Piotroski F-Score Range Over the Past 10 Years
Min: 6   Med: 8   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Axial Retailing was 9. The lowest was 6. And the median was 8.


Axial Retailing Piotroski F-Score Historical Data

The historical data trend for Axial Retailing'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.

* Premium members only.

Axial Retailing Piotroski F-Score Chart

Axial Retailing Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.00 6.00 7.00 7.00 7.00

Axial Retailing Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 7.00 7.00 6.00 7.00 7.00

Competitive Comparison of Axial Retailing's Piotroski F-Score

For the Grocery Stores subindustry, Axial Retailing'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.


Axial Retailing's Piotroski F-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Axial Retailing's Piotroski F-Score distribution charts can be found below:

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


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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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 1873 + 2125 + 2389 + 2619 = 円9,006 Mil.
Cash Flow from Operations was 2510 + 2087 + 5807 + 1411 = 円11,815 Mil.
Revenue was 66522 + 71290 + 73336 + 70722 = 円281,870 Mil.
Gross Profit was 19319 + 20819 + 21209 + 20709 = 円82,056 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(131390 + 0 + 131419 + 139334 + 135296) / 5 = 円134359.75 Mil.
Total Assets at the begining of this year (Mar24) was 円131,390 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,038 Mil.
Total Current Assets was 円39,605 Mil.
Total Current Liabilities was 円31,765 Mil.
Net Income was 1949 + 2307 + 2683 + 503 = 円7,442 Mil.

Revenue was 63785 + 68818 + 70454 + 67167 = 円270,224 Mil.
Gross Profit was 18760 + 20050 + 20776 + 19552 = 円79,138 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(122756 + 123398 + 127271 + 131574 + 131390) / 5 = 円127277.8 Mil.
Total Assets at the begining of last year (Mar23) was 円122,756 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,287 Mil.
Total Current Assets was 円37,256 Mil.
Total Current Liabilities was 円33,344 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.

Axial Retailing's current Net Income (TTM) was 9,006. ==> 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.

Axial Retailing's current Cash Flow from Operations (TTM) was 11,815. ==> 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 (Mar24)
=9006/131390
=0.06854403

ROA (Last Year)=Net Income/Total Assets (Mar23)
=7442/122756
=0.06062433

Axial Retailing's return on assets of this year was 0.06854403. Axial Retailing's return on assets of last year was 0.06062433. ==> 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.

Axial Retailing's current Net Income (TTM) was 9,006. Axial Retailing's current Cash Flow from Operations (TTM) was 11,815. ==> 11,815 > 9,006 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=2038/134359.75
=0.01516823

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=2287/127277.8
=0.01796857

Axial Retailing's gearing of this year was 0.01516823. Axial Retailing's gearing of last year was 0.01796857. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=39605/31765
=1.24681253

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=37256/33344
=1.11732246

Axial Retailing's current ratio of this year was 1.24681253. Axial Retailing's current ratio of last year was 1.11732246. ==> 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.

Axial Retailing's number of shares in issue this year was 90.48. Axial Retailing's number of shares in issue last year was 90.536. ==> 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
=82056/281870
=0.29111292

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=79138/270224
=0.29286074

Axial Retailing's gross margin of this year was 0.29111292. Axial Retailing's gross margin of last year was 0.29286074. ==> 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 (Mar24)
=281870/131390
=2.14529264

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=270224/122756
=2.20130992

Axial Retailing's asset turnover of this year was 2.14529264. Axial Retailing's asset turnover of last year was 2.20130992. ==> 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+1+1+1+1+1+0+0
=7

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

Axial Retailing has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Axial Retailing  (TSE:8255) 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.


Axial Retailing Piotroski F-Score Related Terms

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Axial Retailing Business Description

Traded in Other Exchanges
N/A
Address
18-2 Nakagoya, Niigata Prefecture, Nagaoka, JPN, 954-0193
Axial Retailing Inc is a regional chain-store operator, headquartered in Nagaoka, Japan. The company is focused on its supermarket business. In addition to expanding the product lineup, the company is making an effort to provide private-brand products, for example by manufacturing and processing food sold in the company's stores. The company operates its business under two brands: Harashin Narus and Fressay. More than half of the company's total stores belong to the Harashin Narus store chain, and the rest are under the Fressay store chain.

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