Sanritsu (TSE:9366) Piotroski F-Score: 4 (As of Jun. 27, 2026) — 33% Below Median


TSE:9366 Sanritsu Corp TSE:9366
71 GF Score
Price 円993.00
GF Value 円830.68
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Sanritsu Piotroski F-Score?

Sanritsu TSE:9366 -1.19% 71 Piotroski F-Score is 4 as of Jun. 27, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates TSE:9366 with a GF Score™ of 71/100 and a GF Value™ of 円830.68 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 979 Transportation companies, Sanritsu ranks worse than 73.85% 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

Sanritsu has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

TSE:9366' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 4

During the past 13 years, the highest Piotroski F-Score of Sanritsu was 8. The lowest was 4. And the median was 6.

Sanritsu  (TSE:9366) 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.


Sanritsu Piotroski F-Score Related Terms


Sanritsu Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Sanritsu'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.

Sanritsu Piotroski F-Score Chart

Sanritsu 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 7.00 7.00 5.00 4.00

Sanritsu 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 5.00 0.00 4.00

TSE:9366 vs FDX, UPS, JBHT: Piotroski F-Score Comparison

For the Integrated Freight & Logistics subindustry, Sanritsu'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.


Sanritsu Piotroski F-Score vs Transportation Industry

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

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


TSE:9366
71GF Score
Sanritsu Corp TSE:9366
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688 Mil.
Cash Flow from Operations was 円1,286 Mil.
Revenue was 円20,533 Mil.
Gross Profit was 円4,365 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (24674.008 + 26728.911) / 2 = 円25701.4595 Mil.
Total Assets at the begining of this year (Mar25) was 円24,674 Mil.
Long-Term Debt & Capital Lease Obligation was 円6,649 Mil.
Total Current Assets was 円6,936 Mil.
Total Current Liabilities was 円5,771 Mil.
Net Income was 円469 Mil.

Revenue was 円20,122 Mil.
Gross Profit was 円4,400 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (21356.661 + 24674.008) / 2 = 円23015.3345 Mil.
Total Assets at the begining of last year (Mar24) was 円21,357 Mil.
Long-Term Debt & Capital Lease Obligation was 円4,265 Mil.
Total Current Assets was 円8,516 Mil.
Total Current Liabilities was 円6,713 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.

Sanritsu's current Net Income (TTM) was 688. ==> 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.

Sanritsu's current Cash Flow from Operations (TTM) was 1,286. ==> 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)
=687.995/24674.008
=0.02788339

ROA (Last Year)=Net Income/Total Assets (Mar24)
=468.695/21356.661
=0.02194608

Sanritsu's return on assets of this year was 0.02788339. Sanritsu's return on assets of last year was 0.02194608. ==> 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.

Sanritsu's current Net Income (TTM) was 688. Sanritsu's current Cash Flow from Operations (TTM) was 1,286. ==> 1,286 > 688 ==> 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
=6648.788/25701.4595
=0.25869301

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=4264.936/23015.3345
=0.18530845

Sanritsu's gearing of this year was 0.25869301. Sanritsu's gearing of last year was 0.18530845. ==> 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
=6936.035/5771.258
=1.20182376

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=8515.553/6713.211
=1.26847689

Sanritsu's current ratio of this year was 1.20182376. Sanritsu's current ratio of last year was 1.26847689. ==> 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.

Sanritsu's number of shares in issue this year was 5.761. Sanritsu's number of shares in issue last year was 5.723. ==> 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
=4365.47/20532.915
=0.21260839

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4400.378/20122.036
=0.21868453

Sanritsu's gross margin of this year was 0.21260839. Sanritsu's gross margin of last year was 0.21868453. ==> 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 (Mar25)
=20532.915/24674.008
=0.8321678

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=20122.036/21356.661
=0.94219017

Sanritsu's asset turnover of this year was 0.8321678. Sanritsu's asset turnover of last year was 0.94219017. ==> 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+0+0+0+0+0
=4

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

Sanritsu has an F-score of 4 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 4 mean?
Sanritsu (TSE:9366) has a Piotroski F-Score of 4 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Sanritsu and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, Sanritsu's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Sanritsu ranks #723 out of 979 companies in the Transportation industry, placing it in the top 73.9%.
Is Sanritsu's Piotroski F-Score too high?
Sanritsu's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Transportation industry median Piotroski F-Score is 6.00. Sanritsu's value of 4 is 33.3% below this industry median. Based on the distribution chart, Sanritsu ranks #723 out of 979 companies in the Transportation industry, which is below the industry midpoint. Overall, Sanritsu has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sanritsu's Piotroski F-Score compare to FDX and UPS?
According to the Transportation industry distribution chart, Sanritsu ranks #723 out of 979 companies for Piotroski F-Score. This places Sanritsu in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Sanritsu's value of 4 is 33.3% below this benchmark. Historically, Sanritsu's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Sanritsu has consistently been below 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 979 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. Sanritsu's current Piotroski F-Score of 4 is 33.3% below 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 Sanritsu 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. Sanritsu's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sanritsu stock overvalued right now?
Based on GuruFocus' analysis, Sanritsu (TSE:9366) is currently considered Modestly Overvalued. The stock's GF Value™ is 円830.68, compared to a current price of 円993.00 — trading 19.5% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 33.3% below the Transportation industry median of 6.00. Sanritsu's overall GF Score™ is 71/100 with 8 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 Sanritsu (TSE:9366), the current Piotroski F-Score is 4 as of Jun. 27, 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 Sanritsu (TSE:9366) Overvalued in 2026?

Based on GuruFocus' analysis, Sanritsu stock appears to be overvalued. The current stock price of 円993.00 is trading 19.5% above its estimated GF Value™ of 円830.68. GuruFocus considers Sanritsu to be Modestly Overvalued.

Key valuation signals for TSE:9366:

  • Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
  • GF Value™: 円830.68 vs. price of 円993.00 (19.5% above fair value)
  • GF Score™: 71/100 with 8 warning signs
  • Industry Position: 33.3% below the Transportation median (#723 of 979)

No single metric tells the full story. See the TSE:9366 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Sanritsu Business Description

Address 12-32 Konan 2-chome, Minato-ku, Tokyo, JPN, 108-0075
Sanritsu Corp is a Japan-based company engaged in the logistics business, mainly focusing on packaging, transportation, and warehousing. Along with its subsidiaries, the company operates in the following reportable segments: Packaging business, Transport business, Warehousing business, and the Rental building business. The majority of its revenue is generated from the Packaging business, which is involved in packaging and wooden box manufacturing for electronic and communication equipment, glass products, machine tools, medical equipment, etc. The Transportation segment transports goods by truck; the warehousing business involves storage, warehousing, and rental; and the rental building business involves the rental of offices and apartment buildings.
71GF Score

Get the complete analysis for TSE:9366

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

円993.00
Price
円830.68
GF Value