GMO Internet group (TSE:9449) Piotroski F-Score: 6 (As of Sep. 02, 2026) — 20% Above Median

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TSE:9449 GMO Internet group Inc TSE:9449
64 GF Score
Price 円4,002.00
GF Value 円2,788.04
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is GMO Internet group Piotroski F-Score?

GMO Internet group TSE:9449 -4.76% 64 Piotroski F-Score is 6 as of Sep. 02, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates TSE:9449 with a GF Score™ of 64/100 and a GF Value™ of 円2,788.04 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 357 Telecommunication Services companies, GMO Internet group ranks better than 68.07% 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

GMO Internet group 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 GMO Internet group's Piotroski F-Score or its related term are showing as below:

TSE:9449' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of GMO Internet group was 7. The lowest was 2. And the median was 5.

GMO Internet group  (TSE:9449) 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.


GMO Internet group Piotroski F-Score Related Terms


GMO Internet group Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for GMO Internet group'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.

GMO Internet group Piotroski F-Score Chart

GMO Internet group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 6.00 6.00

GMO Internet group Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 0.00 0.00 6.00 0.00 0.00

TSE:9449 vs VZ, TMUS, T: Piotroski F-Score Comparison

For the Telecom Services subindustry, GMO Internet group'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.


GMO Internet group Piotroski F-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, GMO Internet group's Piotroski F-Score distribution charts can be found below:

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


TSE:9449
64GF Score
GMO Internet group Inc TSE:9449
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 (Dec25) TTM:Last Year (Dec24) TTM:
Net Income was 円16,749 Mil.
Cash Flow from Operations was 円86,656 Mil.
Revenue was 円285,377 Mil.
Gross Profit was 円171,165 Mil.
Average Total Assets from the begining of this year (Dec24)
to the end of this year (Dec25) was (1893576 + 2036559) / 2 = 円1965067.5 Mil.
Total Assets at the begining of this year (Dec24) was 円1,893,576 Mil.
Long-Term Debt & Capital Lease Obligation was 円310,148 Mil.
Total Current Assets was 円1,751,433 Mil.
Total Current Liabilities was 円1,414,705 Mil.
Net Income was 円14,846 Mil.

Revenue was 円279,248 Mil.
Gross Profit was 円169,989 Mil.
Average Total Assets from the begining of last year (Dec23)
to the end of last year (Dec24) was (1728944 + 1893576) / 2 = 円1811260 Mil.
Total Assets at the begining of last year (Dec23) was 円1,728,944 Mil.
Long-Term Debt & Capital Lease Obligation was 円328,777 Mil.
Total Current Assets was 円1,619,728 Mil.
Total Current Liabilities was 円1,267,233 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.

GMO Internet group's current Net Income (TTM) was 16,749. ==> 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.

GMO Internet group's current Cash Flow from Operations (TTM) was 86,656. ==> 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 (Dec24)
=16749/1893576
=0.00884517

ROA (Last Year)=Net Income/Total Assets (Dec23)
=14846/1728944
=0.00858674

GMO Internet group's return on assets of this year was 0.00884517. GMO Internet group's return on assets of last year was 0.00858674. ==> 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.

GMO Internet group's current Net Income (TTM) was 16,749. GMO Internet group's current Cash Flow from Operations (TTM) was 86,656. ==> 86,656 > 16,749 ==> 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: Dec25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec24 to Dec25
=310148/1965067.5
=0.15783071

Gearing (Last Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=328777/1811260
=0.18151839

GMO Internet group's gearing of this year was 0.15783071. GMO Internet group's gearing of last year was 0.18151839. ==> 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: Dec25)=Total Current Assets/Total Current Liabilities
=1751433/1414705
=1.23801994

Current Ratio (Last Year: Dec24)=Total Current Assets/Total Current Liabilities
=1619728/1267233
=1.27816116

GMO Internet group's current ratio of this year was 1.23801994. GMO Internet group's current ratio of last year was 1.27816116. ==> 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.

GMO Internet group's number of shares in issue this year was 102.194. GMO Internet group's number of shares in issue last year was 105.676. ==> 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
=171165/285377
=0.59978555

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=169989/279248
=0.60873847

GMO Internet group's gross margin of this year was 0.59978555. GMO Internet group's gross margin of last year was 0.60873847. ==> 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 (Dec24)
=285377/1893576
=0.15070797

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec23)
=279248/1728944
=0.16151362

GMO Internet group's asset turnover of this year was 0.15070797. GMO Internet group's asset turnover of last year was 0.16151362. ==> 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+1+0+1+0+0
=6

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

GMO Internet group has an F-score of 6 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 6 mean?
GMO Internet group (TSE:9449) has a Piotroski F-Score of 6 as of Sep. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on GMO Internet group and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, GMO Internet group's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, GMO Internet group ranks #114 out of 357 companies in the Telecommunication Services industry, placing it in the top 31.9%.
Is GMO Internet group's Piotroski F-Score too high?
GMO Internet group's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Telecommunication Services industry median Piotroski F-Score is 6.00. GMO Internet group's value of 6 is 0% at this industry median. Based on the distribution chart, GMO Internet group ranks #114 out of 357 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, GMO Internet group has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does GMO Internet group's Piotroski F-Score compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, GMO Internet group ranks #114 out of 357 companies for Piotroski F-Score. This puts GMO Internet group in the upper half of its industry. The industry median Piotroski F-Score is 6.00. GMO Internet group's value of 6 is 0% at this benchmark. Historically, GMO Internet group's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, GMO Internet group 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 357 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. GMO Internet group'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 GMO Internet group 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. GMO Internet group's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GMO Internet group stock overvalued right now?
Based on GuruFocus' analysis, GMO Internet group (TSE:9449) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,788.04, compared to a current price of 円4,002.00 — trading 43.5% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 0% at the Telecommunication Services industry median of 6.00. GMO Internet group's overall GF Score™ is 64/100 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 GMO Internet group (TSE:9449), the current Piotroski F-Score is 6 as of Sep. 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 GMO Internet group (TSE:9449) Overvalued in 2026?

Based on GuruFocus' analysis, GMO Internet group stock appears to be overvalued. The current stock price of 円4,002.00 is trading 43.5% above its estimated GF Value™ of 円2,788.04. GuruFocus considers GMO Internet group to be Significantly Overvalued.

Key valuation signals for TSE:9449:

  • Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
  • GF Value™: 円2,788.04 vs. price of 円4,002.00 (43.5% above fair value)
  • GF Score™: 64/100 with 6 warning signs
  • Industry Position: 0% at the Telecommunication Services median (#114 of 357)

No single metric tells the full story. See the TSE:9449 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


GMO Internet group Business Description

Other Exchanges GMOYF:USAIQ3:Germany
Address 26-1 Sakuragaokacho, Cerulean Tower 4th-14th floors, Shibuya ku, Tokyo, JPN
GMO Internet group Inc operates through main segment namely, Internet infrastructure business, Internet advertising and media, Internet securities, Internet financial services and Cryptocurrency. Internet infrastructure, the key segment, provides basic Internet services, such as domain hosting and e-commerce payments. Online advertising and media segment provides marketing services for online businesses. The Internet securities division provides consumer financial services, and the Cryptocurrency segment operates business pertaining to mining and exchange of cryptocurrency. The company generates the vast majority of revenue in Japan.
64GF Score

Get the complete analysis for TSE:9449

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

円4,002.00
Price
円2,788.04
GF Value