ULVAC (ULVAF) Piotroski F-Score: 5 (As of Jun. 29, 2026) — 17% Below Median


ULVAF ULVAC Inc ULVAF
80 GF Score
Price $51.96
GF Value $35.47
Valuation Significantly Overvalued
! 8 Warning Signs
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What is ULVAC Piotroski F-Score?

ULVAC ULVAF 80 Piotroski F-Score is 5 as of Jun. 29, 2026, which is 17% below its 10-year median of 6.00. GuruFocus rates ULVAF with a GF Score™ of 80/100 and a GF Value™ of $35.47 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 2,971 Industrial Products companies, ULVAC ranks better than 56.45% 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

ULVAC has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

ULVAF' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of ULVAC was 9. The lowest was 2. And the median was 6.

ULVAC  (OTCPK:ULVAF) 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.


ULVAC Piotroski F-Score Related Terms


ULVAC Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for ULVAC'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.

ULVAC Piotroski F-Score Chart

ULVAC Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 8.00 5.00 6.00 7.00

ULVAC Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 7.00 6.00 5.00 5.00

ULVAF vs GEV, ETN, PH: Piotroski F-Score Comparison

For the Specialty Industrial Machinery subindustry, ULVAC'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.


ULVAC Piotroski F-Score vs Industrial Products Industry

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

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


ULVAF
80GF Score
ULVAC Inc ULVAF
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 24.771 + 11.24 + 29.106 + 18.345 = $83 Mil.
Cash Flow from Operations was 71.621 + 38.928 + 38.123 + 5.527 = $154 Mil.
Revenue was 439.206 + 356.607 + 456.428 + 426.877 = $1,679 Mil.
Gross Profit was 133.898 + 106.004 + 132.701 + 136.537 = $509 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(2566.518 + 2595.881 + 2515.465 + 2454.055 + 2463.098) / 5 = $2519.0034 Mil.
Total Assets at the begining of this year (Mar25) was $2,567 Mil.
Long-Term Debt & Capital Lease Obligation was $213 Mil.
Total Current Assets was $1,754 Mil.
Total Current Liabilities was $708 Mil.
Net Income was 43.976 + 26.099 + 43.442 + 18.08 = $132 Mil.

Revenue was 480.856 + 426.844 + 480.144 + 354.588 = $1,742 Mil.
Gross Profit was 147.656 + 133.805 + 154.771 + 117.954 = $554 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(2526.616 + 2463.468 + 2570.225 + 2492.694 + 2566.518) / 5 = $2523.9042 Mil.
Total Assets at the begining of last year (Mar24) was $2,527 Mil.
Long-Term Debt & Capital Lease Obligation was $289 Mil.
Total Current Assets was $1,866 Mil.
Total Current Liabilities was $710 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.

ULVAC's current Net Income (TTM) was 83. ==> 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.

ULVAC's current Cash Flow from Operations (TTM) was 154. ==> 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)
=83.462/2566.518
=0.03251955

ROA (Last Year)=Net Income/Total Assets (Mar24)
=131.597/2526.616
=0.05208429

ULVAC's return on assets of this year was 0.03251955. ULVAC's return on assets of last year was 0.05208429. ==> Last year is higher ==> Score 0.

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.

ULVAC's current Net Income (TTM) was 83. ULVAC's current Cash Flow from Operations (TTM) was 154. ==> 154 > 83 ==> 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
=213.023/2519.0034
=0.08456638

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=288.768/2523.9042
=0.11441322

ULVAC's gearing of this year was 0.08456638. ULVAC's gearing of last year was 0.11441322. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=1753.858/708.496
=2.47546634

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=1865.52/710.437
=2.62587675

ULVAC's current ratio of this year was 2.47546634. ULVAC's current ratio of last year was 2.62587675. ==> 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.

ULVAC's number of shares in issue this year was 49.174. ULVAC's number of shares in issue last year was 49.269. ==> 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
=509.14/1679.118
=0.30321871

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=554.186/1742.432
=0.31805316

ULVAC's gross margin of this year was 0.30321871. ULVAC's gross margin of last year was 0.31805316. ==> 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)
=1679.118/2566.518
=0.65423971

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1742.432/2526.616
=0.68963072

ULVAC's asset turnover of this year was 0.65423971. ULVAC's asset turnover of last year was 0.68963072. ==> 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+0+1+1+0+1+0+0
=5

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

ULVAC has an F-score of 5 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 5 mean?
ULVAC (ULVAF) has a Piotroski F-Score of 5 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ULVAC and its competitors. This is 17% below median its historical median of 6.00. Over the past decade, ULVAC's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, ULVAC ranks #1294 out of 2971 companies in the Industrial Products industry, placing it in the top 43.6%.
Is ULVAC's Piotroski F-Score too high?
ULVAC's current Piotroski F-Score of 5 is 17% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Industrial Products industry median Piotroski F-Score is 5.00. ULVAC's value of 5 is 0% at this industry median. Based on the distribution chart, ULVAC ranks #1294 out of 2971 companies in the Industrial Products industry, which is above the industry midpoint. Overall, ULVAC has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ULVAC's Piotroski F-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, ULVAC ranks #1294 out of 2971 companies for Piotroski F-Score. This puts ULVAC in the upper half of its industry. The industry median Piotroski F-Score is 5.00. ULVAC's value of 5 is 0% at this benchmark. Historically, ULVAC's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, ULVAC 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 an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,971 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. ULVAC's current Piotroski F-Score of 5 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 ULVAC and its competitors. For the Industrial Products industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ULVAC's current Piotroski F-Score is 5, which is 17% 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 ULVAC stock overvalued right now?
Based on GuruFocus' analysis, ULVAC (ULVAF) is currently considered Significantly Overvalued. The stock's GF Value™ is $35.47, compared to a current price of $51.96 — trading 46.5% above its estimated fair value. The current Piotroski F-Score is 5, which is 17% below median its 10-year median of 6.00 and 0% at the Industrial Products industry median of 5.00. ULVAC's overall GF Score™ is 80/100 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 ULVAC (ULVAF), the current Piotroski F-Score is 5 as of Jun. 29, 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 ULVAC (ULVAF) Overvalued in 2026?

Based on GuruFocus' analysis, ULVAC stock appears to be overvalued. The current stock price of $51.96 is trading 46.5% above its estimated GF Value™ of $35.47. GuruFocus considers ULVAC to be Significantly Overvalued.

Key valuation signals for ULVAF:

  • Piotroski F-Score: 5 (17% below median its 10-year median of 6.00)
  • GF Value™: $35.47 vs. price of $51.96 (46.5% above fair value)
  • GF Score™: 80/100 with 8 warning signs
  • Industry Position: 0% at the Industrial Products median (#1294 of 2971)

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


ULVAC Business Description

Other Exchanges 6728:Japan
Address 2500 Hagisono, Kanagawa Prefecture, Chigasaki, JPN, 253-8543
ULVAC Inc is engaged in the vacuum equipment and vacuum application businesses. It operates through two reportable segments: the Vacuum Equipment Business and the Vacuum Application Business. The Vacuum Equipment segment develops, manufactures, sells, and services sputtering equipment for LCD and semiconductor manufacturing, organic EL equipment, vacuum deposition systems, and vacuum pumps. The Vacuum Application segment handles products that use vacuum technology, such as sputtering target materials and analytical equipment, and provides related development, manufacturing, and maintenance services. It generates the majority of its revenue from the Vacuum equipment business segment.
80GF Score

Get the complete analysis for ULVAF

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

$51.96
Price
$35.47
GF Value