Forval TelecomTSE:9445 71 Piotroski F-Score is 6 as of Jul. 07, 2026, which is at its 10-year median of 6.00. GuruFocus rates TSE:9445 with a GF Score™ of 71/100 and a GF Value™ of 円457.19 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 354 Telecommunication Services companies, Forval Telecom ranks better than 68.36% 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
Forval Telecom has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Forval Telecom's Piotroski F-Score or its related term are showing as below:
TSE:9445'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of Forval Telecom was 9. The lowest was 4. And the median was 6.
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.
Forval Telecom Piotroski F-Score Related Terms
Forval Telecom Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Forval Telecom'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:9445 vs TMUS, VZ, T: Piotroski F-Score Comparison
For the Telecom Services subindustry, Forval Telecom'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.
Forval Telecom Piotroski F-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forval Telecom's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Forval Telecom'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.
Forval Telecom's current Net Income (TTM) was 986.
==> 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.
Forval Telecom's return on assets of this year was 0.09510129. Forval Telecom's return on assets of last year was 0.071162.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Forval Telecom's current ratio of this year was 1.22551691. Forval Telecom's current ratio of last year was 1.13702234.
==> 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.
Forval Telecom's number of shares in issue this year was 16.756. Forval Telecom's number of shares in issue last year was 16.756.
==> 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.
Forval Telecom's gross margin of this year was 0.23108901. Forval Telecom's gross margin of last year was 0.2350098.
==> 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
Forval Telecom's asset turnover of this year was 2.3133874. Forval Telecom's asset turnover of last year was 2.49369027.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Forval Telecom has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Forval Telecom (TSE:9445) has a Piotroski F-Score of 6 as of Jul. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Forval Telecom and its competitors. This is near median its historical median of 6.00. Over the past decade, Forval Telecom's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Forval Telecom ranks #112 out of 354 companies in the Telecommunication Services industry, placing it in the top 31.6%.
Is Forval Telecom's Piotroski F-Score too high?
Forval Telecom's current Piotroski F-Score of 6 is near 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 9.00. The Telecommunication Services industry median Piotroski F-Score is 6.00. Forval Telecom's value of 6 is 0% at this industry median. Based on the distribution chart, Forval Telecom ranks #112 out of 354 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Forval Telecom has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forval Telecom's Piotroski F-Score compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Forval Telecom ranks #112 out of 354 companies for Piotroski F-Score. This puts Forval Telecom in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Forval Telecom's value of 6 is 0% at this benchmark. Historically, Forval Telecom's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Forval Telecom has consistently been at 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 Telecommunication Services company?
The median Piotroski F-Score among Telecommunication Services companies is 6.00, based on 354 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. Forval Telecom's current Piotroski F-Score of 6 is 0% at 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 Forval Telecom and its competitors. For the Telecommunication Services 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. Forval Telecom's current Piotroski F-Score is 6, which is near 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 Forval Telecom stock overvalued right now?
Based on GuruFocus' analysis, Forval Telecom (TSE:9445) is currently considered Modestly Overvalued. The stock's GF Value™ is 円457.19, compared to a current price of 円530.00 — trading 15.9% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Telecommunication Services industry median of 6.00. Forval Telecom's overall GF Score™ is 71/100 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 Forval Telecom (TSE:9445), the current Piotroski F-Score is 6 as of Jul. 07, 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 Forval Telecom (TSE:9445) Overvalued in 2026?
Based on GuruFocus' analysis, Forval Telecom stock appears to be overvalued.
The current stock price of 円530.00 is trading 15.9% above its estimated GF Value™ of 円457.19.
GuruFocus considers Forval Telecom to be Modestly Overvalued.
Key valuation signals for TSE:9445:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: 円457.19 vs. price of 円530.00 (15.9% above fair value)
Industry Position: 0% at the Telecommunication Services median (#112 of 354)
No single metric tells the full story. See the TSE:9445 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forval Telecom Inc provides telecommunications communication services and management consulting services in Japan. It provides discount international and domestic telephone and cellular phone services for the business and private sectors. It is also involved in the security certification acquisition consulting business.
71GF Score
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