UZX (Linkage Global) Piotroski F-Score: 4 (As of Jun. 24, 2026) — Near Median


UZX Linkage Global Inc UZX
13 GF Score
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! 5 Warning Signs
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What is Linkage Global Piotroski F-Score?

Linkage Global UZX -4.62% 13 Piotroski F-Score is 4 as of Jun. 24, 2026, which is at its 10-year median of 4.00. GuruFocus rates UZX with a GF Score™ of 13/100. The stock has 5 warning signs investors should review. Among 1,101 Retail - Cyclical companies, Linkage Global ranks worse than 71.12% 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

Linkage Global 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 Linkage Global's Piotroski F-Score or its related term are showing as below:

UZX' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 5
Current: 4

During the past 5 years, the highest Piotroski F-Score of Linkage Global was 5. The lowest was 3. And the median was 4.

Linkage Global  (NAS:UZX) 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.


Linkage Global Piotroski F-Score Related Terms


Linkage Global Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Linkage Global'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.

Linkage Global Piotroski F-Score Chart

Linkage Global Annual Data
Trend Sep21 Sep22 Sep23 Sep24 Sep25
Piotroski F-Score
N/A N/A 3.00 5.00 4.00

Linkage Global Semi-Annual Data
Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only 3.00 0.00 5.00 0.00 4.00

UZX vs NHTC, AAQL, LITB: Piotroski F-Score Comparison

For the Internet Retail subindustry, Linkage Global'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.


Linkage Global Piotroski F-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Linkage Global's Piotroski F-Score distribution charts can be found below:

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


UZX
13GF Score
Linkage Global Inc UZX
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was $-7.37 Mil.
Cash Flow from Operations was $-4.69 Mil.
Revenue was $5.10 Mil.
Gross Profit was $3.70 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was (12.692 + 21.352) / 2 = $17.022 Mil.
Total Assets at the begining of this year (Sep24) was $12.69 Mil.
Long-Term Debt & Capital Lease Obligation was $0.93 Mil.
Total Current Assets was $20.72 Mil.
Total Current Liabilities was $4.08 Mil.
Net Income was $-0.44 Mil.

Revenue was $10.29 Mil.
Gross Profit was $4.17 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was (10.634 + 12.692) / 2 = $11.663 Mil.
Total Assets at the begining of last year (Sep23) was $10.63 Mil.
Long-Term Debt & Capital Lease Obligation was $1.28 Mil.
Total Current Assets was $11.95 Mil.
Total Current Liabilities was $4.39 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.

Linkage Global's current Net Income (TTM) was -7.37. ==> 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.

Score 1 if positive, 0 if negative.

Linkage Global's current Cash Flow from Operations (TTM) was -4.69. ==> Negative ==> Score 0.

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 (Sep24)
=-7.368/12.692
=-0.58052316

ROA (Last Year)=Net Income/Total Assets (Sep23)
=-0.439/10.634
=-0.04128268

Linkage Global's return on assets of this year was -0.58052316. Linkage Global's return on assets of last year was -0.04128268. ==> 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.

Linkage Global's current Net Income (TTM) was -7.37. Linkage Global's current Cash Flow from Operations (TTM) was -4.69. ==> -4.69 > -7.37 ==> 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: Sep25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep24 to Sep25
=0.934/17.022
=0.05487017

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=1.281/11.663
=0.10983452

Linkage Global's gearing of this year was 0.05487017. Linkage Global's gearing of last year was 0.10983452. ==> 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: Sep25)=Total Current Assets/Total Current Liabilities
=20.723/4.082
=5.0766781

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=11.952/4.386
=2.7250342

Linkage Global's current ratio of this year was 5.0766781. Linkage Global's current ratio of last year was 2.7250342. ==> 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.

Linkage Global's number of shares in issue this year was 5.794. Linkage Global's number of shares in issue last year was 2.118. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=3.702/5.098
=0.72616712

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4.167/10.29
=0.40495627

Linkage Global's gross margin of this year was 0.72616712. Linkage Global's gross margin of last year was 0.40495627. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep24)
=5.098/12.692
=0.40167034

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=10.29/10.634
=0.96765093

Linkage Global's asset turnover of this year was 0.40167034. Linkage Global's asset turnover of last year was 0.96765093. ==> 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
=0+0+0+1+1+1+0+1+0
=4

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

Linkage Global has an F-score of 4 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 4 mean?
Linkage Global (UZX) has a Piotroski F-Score of 4 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Linkage Global and its competitors. This is near median its historical median of 4.00. Over the past decade, Linkage Global's Piotroski F-Score has ranged from 3.00 to 5.00. According to the industry distribution chart, Linkage Global ranks #783 out of 1101 companies in the Retail - Cyclical industry, placing it in the top 71.1%.
Is Linkage Global's Piotroski F-Score too high?
Linkage Global'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 3.00 to a high of 5.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Linkage Global's value of 4 is 20% below this industry median. Based on the distribution chart, Linkage Global ranks #783 out of 1101 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Linkage Global has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Linkage Global's Piotroski F-Score compare to NHTC and AAQL?
According to the Retail - Cyclical industry distribution chart, Linkage Global ranks #783 out of 1101 companies for Piotroski F-Score. This places Linkage Global in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Linkage Global's value of 4 is 20% below this benchmark. Historically, Linkage Global's own Piotroski F-Score has ranged from 3.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Linkage Global 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 5.00, based on 1,101 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. Linkage Global's current Piotroski F-Score of 4 is 20% 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 Linkage Global and its competitors. For the Retail - Cyclical 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. Linkage Global'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 Linkage Global stock overvalued right now?
Linkage Global (UZX) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 20% below the Retail - Cyclical industry median of 5.00. Linkage Global's overall GF Score™ is 13/100 with 5 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 Linkage Global (UZX), the current Piotroski F-Score is 4 as of Jun. 24, 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.

Linkage Global Business Description

Address 2-23-3 Minami-Ikebukuro, Toshima-ku, Tokyo, JPN, 171-0022
Linkage Global Inc is a cross-border e-commerce integrated service provider. It provides international e-commerce merchants, overseas brands, import and export trading enterprises, etc. with a globally selected supply chain, digital marketing, e-commerce training, international store, ERP and e-commerce software, social e-commerce and other e-commerce integrated services. The company has two operating segments: Extend from Japan, and Other Subsidiaries from Hong Kong. The company is Committed to building a one-stop cross-border integrated service platform to make cross-border trade easier. Company operates in Japan, Hong Kong and China, with maximum revenue from Japan.
13GF Score

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

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