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Toshin Holdings CoTSE:9444 +0.87%38 Piotroski F-Score is 4 as of Jul. 25, 2026, which is at its 10-year median of 4.00. GuruFocus rates TSE:9444 with a GF Score™ of 38/100 and a GF Value™ of 円652.03 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,097 Retail - Cyclical companies, Toshin Holdings Co ranks worse than 72.2% 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
Toshin Holdings Co 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 Toshin Holdings Co's Piotroski F-Score or its related term are showing as below:
TSE:9444'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 4
During the past 13 years, the highest Piotroski F-Score of Toshin Holdings Co was 6. The lowest was 2. And the median was 4.
Toshin Holdings Co (TSE:9444) 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.
Toshin Holdings Co Piotroski F-Score Related Terms
Toshin Holdings Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Toshin Holdings 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.
TSE:9444 vs CASY, WSM, DKS: Piotroski F-Score Comparison
For the Specialty Retail subindustry, Toshin Holdings 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.
Toshin Holdings Co Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Toshin Holdings Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Toshin Holdings Co'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.
Toshin Holdings Co's current Net Income (TTM) was -16.
==> Negative ==> Score 0.
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.
Toshin Holdings Co's return on assets of this year was -0.00067155. Toshin Holdings Co's return on assets of last year was 0.00611367.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Toshin Holdings Co's gearing of this year was 0.40482943. Toshin Holdings Co's gearing of last year was 0.40246614.
==> 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
Toshin Holdings Co's current ratio of this year was 0.58439482. Toshin Holdings Co's current ratio of last year was 0.47865163.
==> 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.
Toshin Holdings Co's number of shares in issue this year was 6.465. Toshin Holdings Co's number of shares in issue last year was 6.466.
==> 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.
Toshin Holdings Co's gross margin of this year was 0.18806429. Toshin Holdings Co's gross margin of last year was 0.23457772.
==> 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
Toshin Holdings Co's asset turnover of this year was 0.72263156. Toshin Holdings Co's asset turnover of last year was 0.73675469.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Toshin Holdings Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Toshin Holdings Co (TSE:9444) has a Piotroski F-Score of 4 as of Jul. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Toshin Holdings Co and its competitors. This is near median its historical median of 4.00. Over the past decade, Toshin Holdings Co's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, Toshin Holdings Co ranks #792 out of 1097 companies in the Retail - Cyclical industry, placing it in the top 72.2%.
Is Toshin Holdings Co's Piotroski F-Score too high?
Toshin Holdings Co's current Piotroski F-Score of 4 is near median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 6.00. The Retail - Cyclical industry median Piotroski F-Score is 6.00. Toshin Holdings Co's value of 4 is 33.3% below this industry median. Based on the distribution chart, Toshin Holdings Co ranks #792 out of 1097 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Toshin Holdings Co has a GF Score™ of 38/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Toshin Holdings Co's Piotroski F-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Toshin Holdings Co ranks #792 out of 1097 companies for Piotroski F-Score. This places Toshin Holdings Co in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Toshin Holdings Co's value of 4 is 33.3% below this benchmark. Historically, Toshin Holdings Co's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 6.00, Toshin Holdings Co 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 6.00, based on 1,097 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. Toshin Holdings Co'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 Toshin Holdings Co and its competitors. For the Retail - Cyclical 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. Toshin Holdings Co's current Piotroski F-Score is 4, which is near 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 Toshin Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Toshin Holdings Co (TSE:9444) is currently considered Possible Value Trap. The stock's GF Value™ is 円652.03, compared to a current price of 円233.00 — trading 64.3% below its estimated fair value. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 33.3% below the Retail - Cyclical industry median of 6.00. Toshin Holdings Co's overall GF Score™ is 38/100 with 6 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 Toshin Holdings Co (TSE:9444), the current Piotroski F-Score is 4 as of Jul. 25, 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 Toshin Holdings Co (TSE:9444) Overvalued in 2026?
Based on GuruFocus' analysis, Toshin Holdings Co stock appears to be undervalued.
The current stock price of 円233.00 is trading 64.3% below its estimated GF Value™ of 円652.03.
GuruFocus considers Toshin Holdings Co to be Possible Value Trap.
Key valuation signals for TSE:9444:
Piotroski F-Score: 4 (near median its 10-year median of 4.00)
GF Value™: 円652.03 vs. price of 円233.00 (64.3% below fair value)
Industry Position: 33.3% below the Retail - Cyclical median (#792 of 1097)
No single metric tells the full story. See the TSE:9444 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toshin Holdings Co Ltd is engaged in the sale of mobile phone and other communication equipment. It also offers leasing and sale of real estate properties, provides asset management services, operates golf courses and restaurants, sales drinking water. Its other business includes OA equipment sales, air conditioner sales, drinking water sales, rental conference room operation, golfers salon management.
38GF Score
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