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Keiyo Gas CoTSE:9539 -1.53%66 Piotroski F-Score is 7 as of Jul. 15, 2026, which is at its 10-year median of 7.00. GuruFocus rates TSE:9539 with a GF Score™ of 66/100 and a GF Value™ of 円889.63 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 490 Utilities - Regulated companies, Keiyo Gas Co ranks better than 88.98% 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
Keiyo Gas Co 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 Keiyo Gas Co's Piotroski F-Score or its related term are showing as below:
TSE:9539'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Keiyo Gas Co was 8. The lowest was 5. And the median was 7.
Keiyo Gas Co (TSE:9539) 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.
Keiyo Gas Co Piotroski F-Score Related Terms
Keiyo Gas Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Keiyo Gas 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.
For the Utilities - Regulated Gas subindustry, Keiyo Gas 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.
Keiyo Gas Co Piotroski F-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Keiyo Gas Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Keiyo Gas 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.
Keiyo Gas Co's current Net Income (TTM) was 3,210.
==> 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.
Keiyo Gas Co's return on assets of this year was 0.01907875. Keiyo Gas Co's return on assets of last year was 0.01007474.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Keiyo Gas Co's gearing of this year was 0.16110169. Keiyo Gas Co's gearing of last year was 0.14953878.
==> 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
Keiyo Gas Co's current ratio of this year was 1.51352215. Keiyo Gas Co's current ratio of last year was 1.36947699.
==> 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.
Keiyo Gas Co's number of shares in issue this year was 32.154. Keiyo Gas Co's number of shares in issue last year was 32.154.
==> 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.
Keiyo Gas Co's gross margin of this year was 0.31966175. Keiyo Gas Co's gross margin of last year was 0.30225403.
==> 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
Keiyo Gas Co's asset turnover of this year was 0.69934621. Keiyo Gas Co's asset turnover of last year was 0.71823012.
==> 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
Keiyo Gas Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Keiyo Gas Co (TSE:9539) has a Piotroski F-Score of 7 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Keiyo Gas Co and its competitors. This is near median its historical median of 7.00. Over the past decade, Keiyo Gas Co's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Keiyo Gas Co ranks #54 out of 490 companies in the Utilities - Regulated industry, placing it in the top 11%.
Is Keiyo Gas Co's Piotroski F-Score too high?
Keiyo Gas Co's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Utilities - Regulated industry median Piotroski F-Score is 6.00. Keiyo Gas Co's value of 7 is 16.7% above this industry median. Based on the distribution chart, Keiyo Gas Co ranks #54 out of 490 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Keiyo Gas Co has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Keiyo Gas Co's Piotroski F-Score compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Keiyo Gas Co ranks #54 out of 490 companies for Piotroski F-Score. This places Keiyo Gas Co in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Keiyo Gas Co's value of 7 is 16.7% above this benchmark. Historically, Keiyo Gas Co's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Keiyo Gas Co 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 an Utilities - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 490 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. Keiyo Gas Co's current Piotroski F-Score of 7 is 16.7% 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 Keiyo Gas Co and its competitors. For the Utilities - Regulated 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. Keiyo Gas Co's current Piotroski F-Score is 7, which is near median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keiyo Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Keiyo Gas Co (TSE:9539) is currently considered Significantly Overvalued. The stock's GF Value™ is 円889.63, compared to a current price of 円1,476.00 — trading 65.9% above its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 16.7% above the Utilities - Regulated industry median of 6.00. Keiyo Gas Co's overall GF Score™ is 66/100 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 Keiyo Gas Co (TSE:9539), the current Piotroski F-Score is 7 as of Jul. 15, 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 Keiyo Gas Co (TSE:9539) Overvalued in 2026?
Based on GuruFocus' analysis, Keiyo Gas Co stock appears to be overvalued.
The current stock price of 円1,476.00 is trading 65.9% above its estimated GF Value™ of 円889.63.
GuruFocus considers Keiyo Gas Co to be Significantly Overvalued.
Key valuation signals for TSE:9539:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: 円889.63 vs. price of 円1,476.00 (65.9% above fair value)
Industry Position: 16.7% above the Utilities - Regulated median (#54 of 490)
No single metric tells the full story. See the TSE:9539 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Keiyo Gas Co Ltd is engaged in gas business. The company produces, process and sells gas byproducts. It is also engaged in production, sales, rental, installation, repair, maintenance and management of gas appliances, kitchen equipment, water supply, and drainage equipment, air conditioning equipment and housing equipment.
66GF Score
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