Aso InternationalTSE:9340 -1.01%65 Piotroski F-Score is 7 as of Jul. 11, 2026, which is 75% above its 10-year median of 4.00. GuruFocus rates TSE:9340 with a GF Score™ of 65/100 and a GF Value™ of 円648.55 (Fairly Valued). The stock has 4 warning signs investors should review. Among 805 Medical Devices & Instruments companies, Aso International ranks better than 92.55% on this metric.
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
Aso International 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 Aso International's Piotroski F-Score or its related term are showing as below:
TSE:9340'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 4 Max: 7
Current: 7
During the past 5 years, the highest Piotroski F-Score of Aso International was 7. The lowest was 4. And the median was 4.
Aso International (TSE:9340) 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.
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.
Aso International Piotroski F-Score Related Terms
Aso International Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Aso International'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:9340 vs ISRG, BDX, MDLN: Piotroski F-Score Comparison
For the Medical Instruments & Supplies subindustry, Aso International'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.
Aso International Piotroski F-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Aso International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Aso International'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.
Aso International's current Net Income (TTM) was 439.
==> 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.
Aso International's return on assets of this year was 0.13770718. Aso International's return on assets of last year was 0.13671831.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Aso International's gearing of this year was 0. Aso International's gearing of last year was 0.
==> 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
Aso International's current ratio of this year was 6.76723778. Aso International's current ratio of last year was 6.37759585.
==> 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.
Aso International's number of shares in issue this year was 9.968. Aso International's number of shares in issue last year was 9.908.
==> 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.
Aso International's gross margin of this year was 0.44908986. Aso International's gross margin of last year was 0.44784005.
==> 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
Aso International's asset turnover of this year was 1.19201558. Aso International's asset turnover of last year was 1.25420471.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Aso International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Aso International (TSE:9340) has a Piotroski F-Score of 7 as of Jul. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Aso International and its competitors. This is 75% above median its historical median of 4.00. Over the past decade, Aso International's Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, Aso International ranks #60 out of 805 companies in the Medical Devices & Instruments industry, placing it in the top 7.5%.
Is Aso International's Piotroski F-Score too high?
Aso International's current Piotroski F-Score of 7 is 75% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 7.00. The Medical Devices & Instruments industry median Piotroski F-Score is 5.00. Aso International's value of 7 is 40% above this industry median. Based on the distribution chart, Aso International ranks #60 out of 805 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Aso International has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aso International's Piotroski F-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Aso International ranks #60 out of 805 companies for Piotroski F-Score. This places Aso International in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Aso International's value of 7 is 40% above this benchmark. Historically, Aso International's own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Aso International 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 Medical Devices & Instruments company?
The median Piotroski F-Score among Medical Devices & Instruments companies is 5.00, based on 805 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. Aso International's current Piotroski F-Score of 7 is 40% 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 Aso International and its competitors. For the Medical Devices & Instruments 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. Aso International's current Piotroski F-Score is 7, which is 75% above 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 Aso International stock overvalued right now?
Based on GuruFocus' analysis, Aso International (TSE:9340) is currently considered Fairly Valued. The stock's GF Value™ is 円648.55, compared to a current price of 円689.00 — trading 6.2% above its estimated fair value. The current Piotroski F-Score is 7, which is 75% above median its 10-year median of 4.00 and 40% above the Medical Devices & Instruments industry median of 5.00. Aso International's overall GF Score™ is 65/100 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 Aso International (TSE:9340), the current Piotroski F-Score is 7 as of Jul. 11, 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 Aso International (TSE:9340) Overvalued in 2026?
Based on GuruFocus' analysis, Aso International stock appears to be overvalued.
The current stock price of 円689.00 is trading 6.2% above its estimated GF Value™ of 円648.55.
GuruFocus considers Aso International to be Fairly Valued.
Key valuation signals for TSE:9340:
Piotroski F-Score: 7 (75% above median its 10-year median of 4.00)
GF Value™: 円648.55 vs. price of 円689.00 (6.2% above fair value)
Industry Position: 40% above the Medical Devices & Instruments median (#60 of 805)
No single metric tells the full story. See the TSE:9340 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aso International Inc is engaged in the manufacturing and sale of orthodontic appliances. The company mainly manufactures and supplies custom-made orthodontic dental prostheses to dental medical institutions. Its product portfolio comprises Aso Liner, Specter 4D Print Retainer, 3D printers for dental prostheses, Harmony, a lingual orthodontic system, and various types of retainers, among others. The group operates in a single segment, the orthodontic business.
65GF Score
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