Chichibu Railway Co (TSE:9012) Piotroski F-Score: 8 (As of Jul. 02, 2026) — 14% Above Median


TSE:9012 Chichibu Railway Co Ltd TSE:9012
64 GF Score
Price 円2,097.00
GF Value 円2,320.79
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Chichibu Railway Co Piotroski F-Score?

Chichibu Railway Co TSE:9012 +0.53% 64 Piotroski F-Score is 8 as of Jul. 02, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates TSE:9012 with a GF Score™ of 64/100 and a GF Value™ of 円2,320.79 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 974 Transportation companies, Chichibu Railway Co ranks better than 97.43% 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

Chichibu Railway Co 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 Chichibu Railway Co's Piotroski F-Score or its related term are showing as below:

TSE:9012' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Chichibu Railway Co was 8. The lowest was 3. And the median was 7.

Chichibu Railway Co  (TSE:9012) 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.


Chichibu Railway Co Piotroski F-Score Related Terms


Chichibu Railway Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Chichibu Railway 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.

Chichibu Railway Co Piotroski F-Score Chart

Chichibu Railway 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 5.00 3.00 7.00 8.00 8.00

Chichibu Railway 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 7.00 0.00 8.00 0.00 8.00

TSE:9012 vs UNP, CSX, NSC: Piotroski F-Score Comparison

For the Railroads subindustry, Chichibu Railway 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.


Chichibu Railway Co Piotroski F-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Chichibu Railway Co's Piotroski F-Score distribution charts can be found below:

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


TSE:9012
64GF Score
Chichibu Railway Co Ltd TSE:9012
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 円383 Mil.
Cash Flow from Operations was 円311 Mil.
Revenue was 円5,638 Mil.
Gross Profit was 円1,858 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (16899.816 + 17694.366) / 2 = 円17297.091 Mil.
Total Assets at the begining of this year (Mar25) was 円16,900 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,177 Mil.
Total Current Assets was 円2,453 Mil.
Total Current Liabilities was 円4,613 Mil.
Net Income was 円116 Mil.

Revenue was 円5,276 Mil.
Gross Profit was 円1,574 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (16453.153 + 16899.816) / 2 = 円16676.4845 Mil.
Total Assets at the begining of last year (Mar24) was 円16,453 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,333 Mil.
Total Current Assets was 円2,031 Mil.
Total Current Liabilities was 円3,989 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.

Chichibu Railway Co's current Net Income (TTM) was 383. ==> 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.

Chichibu Railway Co's current Cash Flow from Operations (TTM) was 311. ==> 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)
=383.26/16899.816
=0.02267835

ROA (Last Year)=Net Income/Total Assets (Mar24)
=115.59/16453.153
=0.0070254

Chichibu Railway Co's return on assets of this year was 0.02267835. Chichibu Railway Co's return on assets of last year was 0.0070254. ==> 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.

Chichibu Railway Co's current Net Income (TTM) was 383. Chichibu Railway Co's current Cash Flow from Operations (TTM) was 311. ==> 311 <= 383 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=3177.109/17297.091
=0.1836788

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=3332.599/16676.4845
=0.19983822

Chichibu Railway Co's gearing of this year was 0.1836788. Chichibu Railway Co's gearing of last year was 0.19983822. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=2452.585/4613.3
=0.53163354

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=2030.781/3988.936
=0.50910343

Chichibu Railway Co's current ratio of this year was 0.53163354. Chichibu Railway Co's current ratio of last year was 0.50910343. ==> 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.

Chichibu Railway Co's number of shares in issue this year was 1.485. Chichibu Railway Co's number of shares in issue last year was 1.485. ==> 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
=1858.005/5637.702
=0.32956779

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1574.019/5276.389
=0.29831368

Chichibu Railway Co's gross margin of this year was 0.32956779. Chichibu Railway Co's gross margin of last year was 0.29831368. ==> 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)
=5637.702/16899.816
=0.33359547

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=5276.389/16453.153
=0.32069166

Chichibu Railway Co's asset turnover of this year was 0.33359547. Chichibu Railway Co's asset turnover of last year was 0.32069166. ==> 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+1+0+1+1+1+1+1
=8

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

Chichibu Railway Co has an F-score of 8. 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 8 mean?
Chichibu Railway Co (TSE:9012) has a Piotroski F-Score of 8 as of Jul. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Chichibu Railway Co and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Chichibu Railway Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Chichibu Railway Co ranks #25 out of 974 companies in the Transportation industry, placing it in the top 2.6%.
Is Chichibu Railway Co's Piotroski F-Score too high?
Chichibu Railway Co'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 3.00 to a high of 8.00. The Transportation industry median Piotroski F-Score is 6.00. Chichibu Railway Co's value of 8 is 33.3% above this industry median. Based on the distribution chart, Chichibu Railway Co ranks #25 out of 974 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Chichibu Railway Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chichibu Railway Co's Piotroski F-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, Chichibu Railway Co ranks #25 out of 974 companies for Piotroski F-Score. This places Chichibu Railway Co in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Chichibu Railway Co's value of 8 is 33.3% above this benchmark. Historically, Chichibu Railway Co'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 7.00 vs. the industry median of 6.00, Chichibu Railway Co 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 Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 974 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. Chichibu Railway Co'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 Chichibu Railway Co and its competitors. For the Transportation 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. Chichibu Railway Co'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 Chichibu Railway Co stock overvalued right now?
Based on GuruFocus' analysis, Chichibu Railway Co (TSE:9012) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,320.79, compared to a current price of 円2,097.00 — trading 9.6% 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 Transportation industry median of 6.00. Chichibu Railway Co's overall GF Score™ is 64/100 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 Chichibu Railway Co (TSE:9012), the current Piotroski F-Score is 8 as of Jul. 02, 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 Chichibu Railway Co (TSE:9012) Overvalued in 2026?

Based on GuruFocus' analysis, Chichibu Railway Co stock appears to be undervalued. The current stock price of 円2,097.00 is trading 9.6% below its estimated GF Value™ of 円2,320.79. GuruFocus considers Chichibu Railway Co to be Modestly Undervalued.

Key valuation signals for TSE:9012:

  • Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
  • GF Value™: 円2,320.79 vs. price of 円2,097.00 (9.6% below fair value)
  • GF Score™: 64/100 with 3 warning signs
  • Industry Position: 33.3% above the Transportation median (#25 of 974)

No single metric tells the full story. See the TSE:9012 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Chichibu Railway Co Business Description

Address 1, Atsukicho, Kumagaya-shi, Kumagaya, JPN, 360-00331
Chichibu Railway Co Ltd operates real estate business, tourism business, bus business, and other businesses, mainly in the railway business.
64GF Score

Get the complete analysis for TSE:9012

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

円2,097.00
Price
円2,320.79
GF Value