Hankyu Hanshin REITTSE:8977 +1.16%58 Piotroski F-Score is 8 as of Jul. 04, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates TSE:8977 with a GF Score™ of 58/100 and a GF Value™ of 円161,504.99 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 887 REITs companies, Hankyu Hanshin REIT ranks better than 98.42% on this metric.
Good Sign:
Piotroski F-Score is 8, 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
Hankyu Hanshin REIT has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Hankyu Hanshin REIT's Piotroski F-Score or its related term are showing as below:
TSE:8977'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Hankyu Hanshin REIT was 8. The lowest was 5. And the median was 7.
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.
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.
Hankyu Hanshin REIT Piotroski F-Score Related Terms
Hankyu Hanshin REIT Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Hankyu Hanshin REIT'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.
TSE:8977 vs VICI, WPC: Piotroski F-Score Comparison
For the REIT - Diversified subindustry, Hankyu Hanshin REIT'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.
Hankyu Hanshin REIT Piotroski F-Score vs REITs Industry
For the REITs industry and Real Estate sector, Hankyu Hanshin REIT's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hankyu Hanshin REIT's Piotroski F-Score falls into.
* 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.
*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.
Hankyu Hanshin REIT's current Net Income (TTM) was 4,794.
==> 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.
Hankyu Hanshin REIT's return on assets of this year was 0.02625049. Hankyu Hanshin REIT's return on assets of last year was 0.02430513.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Hankyu Hanshin REIT's gearing of this year was 0.43701597. Hankyu Hanshin REIT's gearing of last year was 0.43241276.
==> 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
Hankyu Hanshin REIT's current ratio of this year was 1.23831176. Hankyu Hanshin REIT's current ratio of last year was 0.97563499.
==> 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.
Hankyu Hanshin REIT's number of shares in issue this year was 0.695. Hankyu Hanshin REIT's number of shares in issue last year was 0.695.
==> 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.
Hankyu Hanshin REIT's gross margin of this year was 0.53099456. Hankyu Hanshin REIT's gross margin of last year was 0.50803453.
==> 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
Hankyu Hanshin REIT's asset turnover of this year was 0.07075291. Hankyu Hanshin REIT's asset turnover of last year was 0.06902857.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hankyu Hanshin REIT has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Hankyu Hanshin REIT (TSE:8977) has a Piotroski F-Score of 8 as of Jul. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hankyu Hanshin REIT and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Hankyu Hanshin REIT's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Hankyu Hanshin REIT ranks #14 out of 887 companies in the REITs industry, placing it in the top 1.6%.
Is Hankyu Hanshin REIT's Piotroski F-Score too high?
Hankyu Hanshin REIT's current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The REITs industry median Piotroski F-Score is 6.00. Hankyu Hanshin REIT's value of 8 is 33.3% above this industry median. Based on the distribution chart, Hankyu Hanshin REIT ranks #14 out of 887 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Hankyu Hanshin REIT has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hankyu Hanshin REIT's Piotroski F-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Hankyu Hanshin REIT ranks #14 out of 887 companies for Piotroski F-Score. This places Hankyu Hanshin REIT in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Hankyu Hanshin REIT's value of 8 is 33.3% above this benchmark. Historically, Hankyu Hanshin REIT's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Hankyu Hanshin REIT 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 REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 887 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. Hankyu Hanshin REIT's current Piotroski F-Score of 8 is 33.3% 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 Hankyu Hanshin REIT and its competitors. For the REITs industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hankyu Hanshin REIT's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hankyu Hanshin REIT stock overvalued right now?
Based on GuruFocus' analysis, Hankyu Hanshin REIT (TSE:8977) is currently considered Modestly Undervalued. The stock's GF Value™ is 円161,504.99, compared to a current price of 円139,900.00 — trading 13.4% below its estimated fair value. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 33.3% above the REITs industry median of 6.00. Hankyu Hanshin REIT's overall GF Score™ is 58/100 with 4 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 Hankyu Hanshin REIT (TSE:8977), the current Piotroski F-Score is 8 as of Jul. 04, 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 Hankyu Hanshin REIT (TSE:8977) Overvalued in 2026?
Based on GuruFocus' analysis, Hankyu Hanshin REIT stock appears to be undervalued.
The current stock price of 円139,900.00 is trading 13.4% below its estimated GF Value™ of 円161,504.99.
GuruFocus considers Hankyu Hanshin REIT to be Modestly Undervalued.
Key valuation signals for TSE:8977:
Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
GF Value™: 円161,504.99 vs. price of 円139,900.00 (13.4% below fair value)
Industry Position: 33.3% above the REITs median (#14 of 887)
No single metric tells the full story. See the TSE:8977 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hankyu Hanshin REIT Inc is a real estate investment trust. The firm manages funds contributed by unitholders by investing them mainly in real estate and real estate backed securities. Its portfolio comprises retail facilities, Office use facilities and Complex facilities. The firm holds the majority of its investments in Kansai region.
58GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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