Top 20 Japanese stocks by Piotroski F-Score — as of 2026-09-03
We screened 133 Japanese stocks by Piotroski F-Score and publish the top 20. As of 2026-09-03, market median 6 / 9. Formula and limitations included.
- Universe
- 133
- Market median
- 6 / 9
- Top decile cutoff
- 8 / 9
| Rank | Stock | F-Score |
|---|---|---|
| 1 | ベステラ1433.T | 9 / 9 |
| 2 | 伊勢化学工業4107.T | 8 / 9 |
| 3 | ニトリホールディングス9843.T | 8 / 9 |
| 4 | 丸大食品2288.T | 8 / 9 |
| 5 | 堺化学工業4078.T | 8 / 9 |
| 6 | Ｐｈｏｔｏｓｙｎｔｈ4379.T | 8 / 9 |
| 7 | ＢＡＳＥ4477.T | 8 / 9 |
| 8 | 日本国土開発1887.T | 8 / 9 |
| 9 | ブルボン2208.T | 8 / 9 |
| 10 | ＣＳＳホールディングス2304.T | 8 / 9 |
| 11 | 東宝9602.T | 8 / 9 |
| 12 | 杉村倉庫9307.T | 8 / 9 |
| 13 | ニチコン6996.T | 8 / 9 |
| 14 | ＰＬＡＮＴ7646.T | 8 / 9 |
| 15 | ＡＮＡホールディングス9202.T | 8 / 9 |
| 16 | ナカボーテック1787.T | 8 / 9 |
| 17 | ロブテックス5969.T | 7 / 9 |
| 18 | ファナック6954.T | 7 / 9 |
| 19 | サイゼリヤ7581.T | 7 / 9 |
| 20 | 乃村工藝社9716.T | 7 / 9 |
As of 2026-09-03
What this metric measures
The Piotroski F-Score grades a company's financial health from 0 to 9. Joseph Piotroski of the University of Chicago introduced it in a 2000 paper: four profitability tests, three leverage and liquidity tests, and two operating efficiency tests, one point each. A score of 8 or higher means the balance sheet is broadly improving; 3 or lower reads as deterioration.
How we calculate it
We evaluate all nine tests from each company's most recent fiscal-year statements: positive ROA, positive operating cash flow, improving ROA, accruals (operating cash flow above net income), improving leverage, improving current ratio, no share dilution, improving gross margin, improving asset turnover. Companies missing the required line items are excluded.
Limitations of this list
The F-Score is annual, so it reacts slowly and contains nothing about the latest quarter. It says the financials are improving, not that the stock is cheap. Piotroski himself proposed it as a filter applied within a low price-to-book universe.
Frequently asked questions
What is a good Piotroski F-Score?
Eight or higher is considered strong, meaning the company passed at least eight of the nine tests. Piotroski's original paper reported that the 8–9 group outperformed the 0–1 group by roughly 7.5 percentage points per year. A score of 3 or below signals deteriorating financials.
Does a high F-Score mean the stock will rise?
No. The F-Score only measures whether financial condition is improving. The original paper found the effect when screening within low price-to-book value stocks, so it needs to be paired with a valuation metric.
How often is this list updated?
We recalculate the underlying financial data daily and refresh the ranking once a day. Because the inputs are annual, however, rankings change little until new filings arrive.
Other screens
Cite or embed this data
Top 20 Japanese stocks by Piotroski F-Score — as of 2026-09-03 — Market median 6 / 9, Universe 133. Margin Call, https://margincall.online/screener/piotroski-jp
<iframe src="https://margincall.online/embed/screener/piotroski-jp?locale=en" width="100%" height="280" style="border:1px solid #e5e5e5;border-radius:12px" loading="lazy" title="Top 20 Japanese stocks by Piotroski F-Score — as of 2026-09-03"></iframe> <p><a href="https://margincall.online/screener/piotroski-jp">Top 20 Japanese stocks by Piotroski F-Score — as of 2026-09-03 — Margin Call</a></p>
Free to quote or embed with attribution.
This list is the output of a financial-metric calculation, not investment advice. No single metric supports a buy or sell decision, and past financial data does not guarantee future returns.
Get the app
Your watchlist and portfolio, one tap from your home screen — the Margin Call app