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Asta Co (XKRX:246720) 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.
Asta Co Piotroski F-Score Related Terms
Asta Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Asta 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.
XKRX:246720 vs ISRG, BDX, MDLN: Piotroski F-Score Comparison
For the Medical Instruments & Supplies subindustry, Asta 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.
Asta Co Piotroski F-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Asta Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Asta 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was -620.419 + -1077.488 + -1496.848 + -810.734 = ₩-4,005 Mil. Cash Flow from Operations was -1527.667 + -263.314 + -577.332 + 0 = ₩-2,368 Mil. Revenue was 1060.969 + 767.347 + 464.373 + 1169.452 = ₩3,462 Mil. Gross Profit was 347.484 + 558.733 + 65.076 + 534.016 = ₩1,505 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(12049.186 + 13952.886 + 15490.897 + 22064.445 + 21550.96) / 5 = ₩17021.6748 Mil. Total Assets at the begining of this year (Jun25) was ₩12,049 Mil. Long-Term Debt & Capital Lease Obligation was ₩0 Mil. Total Current Assets was ₩16,164 Mil. Total Current Liabilities was ₩1,131 Mil.
Net Income was -844.249 + -606.177 + -1532.223 + -73.327 = ₩-3,056 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.
Asta Co's current Net Income (TTM) was -4,005.
==> 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.
Asta Co's return on assets of this year was -0.33242818. Asta Co's return on assets of last year was -0.35495564.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Asta Co's current ratio of this year was 14.29586421. Asta Co's current ratio of last year was 2.53608696.
==> 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.
Asta Co's number of shares in issue this year was 0. Asta Co's number of shares in issue last year was 13.567.
==> 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.
Asta Co's gross margin of this year was 0.43479136. Asta Co's gross margin of last year was 0.32848852.
==> 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
Asta Co's asset turnover of this year was 0.28733402. Asta Co's asset turnover of last year was 0.35124042.
==> 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
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Que. 7
+
Que. 8
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Que. 9
=
0
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0
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1
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1
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1
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1
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1
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1
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0
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Asta Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Asta Co (XKRX:246720) has a Piotroski F-Score of 5 as of Aug. 23, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Asta Co and its competitors. This is 67% above median its historical median of 3.00. Over the past decade, Asta Co's Piotroski F-Score has ranged from 1.00 to 5.00.
Is Asta Co's Piotroski F-Score too high?
Asta Co's current Piotroski F-Score of 5 is 67% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 5.00. The Medical Devices & Instruments industry median Piotroski F-Score is 5.00. Asta Co's value of 5 is 0% at this industry median. Overall, Asta Co has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Asta Co's Piotroski F-Score compare to ISRG and BDX?
Asta Co's Piotroski F-Score of 5 can be compared against companies in the Medical Devices & Instruments industry. The industry median Piotroski F-Score is 5.00. Asta Co's value of 5 is 0% at this benchmark. Historically, Asta Co's own Piotroski F-Score has ranged from 1.00 to 5.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Asta Co 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 Medical Devices & Instruments company?
The median Piotroski F-Score among Medical Devices & Instruments companies is 5.00, based on 808 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. Asta Co'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 Asta Co and its competitors. For the Medical Devices & Instruments 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. Asta Co's current Piotroski F-Score is 5, which is 67% above median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asta Co stock overvalued right now?
Asta Co (XKRX:246720) has a current Piotroski F-Score of 5. The stock's GF Value™ is ₩4,746.50, compared to a current price of ₩6,070.00 — trading 27.9% above its estimated fair value. The current Piotroski F-Score is 5, which is 67% above median its 10-year median of 3.00 and 0% at the Medical Devices & Instruments industry median of 5.00. Asta Co's overall GF Score™ is 71/100 with 2 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 Asta Co (XKRX:246720), the current Piotroski F-Score is 5 as of Aug. 23, 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 Asta Co (XKRX:246720) Overvalued in 2026?
Based on GuruFocus' analysis, Asta Co stock appears to be overvalued.
The current stock price of ₩6,070.00 is trading 27.9% above its estimated GF Value™ of ₩4,746.50.
Key valuation signals for XKRX:246720:
Piotroski F-Score: 5 (67% above median its 10-year median of 3.00)
GF Value™: ₩4,746.50 vs. price of ₩6,070.00 (27.9% above fair value)
Industry Position: 0% at the Medical Devices & Instruments median
No single metric tells the full story. See the XKRX:246720 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asta Co Ltd is a technology-based company that has been developing, manufacturing, and selling MALDI-TOF-based mass spectrometry instruments and related consumables. Its products are Microbial Identification, Microwave Digestion System, Surface/Organic/Inorganic analysis, Gas analysis, and Others.
71GF Score
Get the complete analysis for XKRX:246720
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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