Insource Co (TSE:6200) Piotroski F-Score: 6 (As of Jul. 15, 2026) — 20% Above Median

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TSE:6200 Insource Co Ltd TSE:6200
79 GF Score
Price 円629.00
GF Value 円1,180.06
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is Insource Co Piotroski F-Score?

Insource Co TSE:6200 +1.45% 79 Piotroski F-Score is 6 as of Jul. 15, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates TSE:6200 with a GF Score™ of 79/100 and a GF Value™ of 円1,180.06 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 251 Education companies, Insource Co ranks better than 67.33% 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

Insource Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

TSE:6200' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 6

During the past 11 years, the highest Piotroski F-Score of Insource Co was 8. The lowest was 3. And the median was 5.

Insource Co  (TSE:6200) 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.


Insource Co Piotroski F-Score Related Terms


Insource Co Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Insource 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.

Insource Co Piotroski F-Score Chart

Insource Co Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 5.00 8.00 6.00

Insource Co 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 0.00 0.00 6.00 0.00 0.00

TSE:6200 vs EDU, TAL, LAUR: Piotroski F-Score Comparison

For the Education & Training Services subindustry, Insource 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.


Insource Co Piotroski F-Score vs Education Industry

For the Education industry and Consumer Defensive sector, Insource Co's Piotroski F-Score distribution charts can be found below:

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


TSE:6200
79GF Score
Insource Co Ltd TSE:6200
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 (Sep25) TTM:Last Year (Sep24) TTM:
Net Income was 円4,130 Mil.
Cash Flow from Operations was 円4,395 Mil.
Revenue was 円14,511 Mil.
Gross Profit was 円11,159 Mil.
Average Total Assets from the begining of this year (Sep24)
to the end of this year (Sep25) was (13177.848 + 16149.441) / 2 = 円14663.6445 Mil.
Total Assets at the begining of this year (Sep24) was 円13,178 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円10,201 Mil.
Total Current Liabilities was 円3,593 Mil.
Net Income was 円3,356 Mil.

Revenue was 円12,475 Mil.
Gross Profit was 円9,614 Mil.
Average Total Assets from the begining of last year (Sep23)
to the end of last year (Sep24) was (10795.236 + 13177.848) / 2 = 円11986.542 Mil.
Total Assets at the begining of last year (Sep23) was 円10,795 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円7,406 Mil.
Total Current Liabilities was 円3,199 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.

Insource Co's current Net Income (TTM) was 4,130. ==> 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.

Insource Co's current Cash Flow from Operations (TTM) was 4,395. ==> 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 (Sep24)
=4130.091/13177.848
=0.31341164

ROA (Last Year)=Net Income/Total Assets (Sep23)
=3355.877/10795.236
=0.31086648

Insource Co's return on assets of this year was 0.31341164. Insource Co's return on assets of last year was 0.31086648. ==> This year is higher. ==> Score 1.

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.

Insource Co's current Net Income (TTM) was 4,130. Insource Co's current Cash Flow from Operations (TTM) was 4,395. ==> 4,395 > 4,130 ==> 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
=0/14663.6445
=0

Gearing (Last Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0/11986.542
=0

Insource Co's gearing of this year was 0. Insource Co's gearing of last year was 0. ==> 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
=10200.841/3592.701
=2.83932367

Current Ratio (Last Year: Sep24)=Total Current Assets/Total Current Liabilities
=7405.642/3199.33
=2.31474778

Insource Co's current ratio of this year was 2.83932367. Insource Co's current ratio of last year was 2.31474778. ==> 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.

Insource Co's number of shares in issue this year was 83.947. Insource Co's number of shares in issue last year was 83.939. ==> 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
=11158.849/14510.945
=0.76899533

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=9613.939/12474.662
=0.77067731

Insource Co's gross margin of this year was 0.76899533. Insource Co's gross margin of last year was 0.77067731. ==> 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 (Sep24)
=14510.945/13177.848
=1.10116197

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep23)
=12474.662/10795.236
=1.15557103

Insource Co's asset turnover of this year was 1.10116197. Insource Co's asset turnover of last year was 1.15557103. ==> 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+1+1+1+1+0+0+0
=6

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

Insource Co has an F-score of 6 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 6 mean?
Insource Co (TSE:6200) has a Piotroski F-Score of 6 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Insource Co and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Insource Co's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Insource Co ranks #82 out of 251 companies in the Education industry, placing it in the top 32.7%.
Is Insource Co's Piotroski F-Score too high?
Insource Co's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Education industry median Piotroski F-Score is 5.00. Insource Co's value of 6 is 20% above this industry median. Based on the distribution chart, Insource Co ranks #82 out of 251 companies in the Education industry, which is above the industry midpoint. Overall, Insource Co has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Insource Co's Piotroski F-Score compare to EDU and TAL?
According to the Education industry distribution chart, Insource Co ranks #82 out of 251 companies for Piotroski F-Score. This puts Insource Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Insource Co's value of 6 is 20% above this benchmark. Historically, Insource Co's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Insource 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 Education company?
The median Piotroski F-Score among Education companies is 5.00, based on 251 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. Insource Co's current Piotroski F-Score of 6 is 20% 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 Insource Co and its competitors. For the Education 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. Insource Co's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Insource Co stock overvalued right now?
Based on GuruFocus' analysis, Insource Co (TSE:6200) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,180.06, compared to a current price of 円629.00 — trading 46.7% below its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Education industry median of 5.00. Insource Co's overall GF Score™ is 79/100 with 1 warning sign 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 Insource Co (TSE:6200), the current Piotroski F-Score is 6 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 Insource Co (TSE:6200) Overvalued in 2026?

Based on GuruFocus' analysis, Insource Co stock appears to be undervalued. The current stock price of 円629.00 is trading 46.7% below its estimated GF Value™ of 円1,180.06. GuruFocus considers Insource Co to be Significantly Undervalued.

Key valuation signals for TSE:6200:

  • Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
  • GF Value™: 円1,180.06 vs. price of 円629.00 (46.7% below fair value)
  • GF Score™: 79/100 with 1 warning sign
  • Industry Position: 20% above the Education median (#82 of 251)

No single metric tells the full story. See the TSE:6200 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Insource Co Business Description

Address 3-20 Kanda Ogawacho, Chiyoda-k, 5th Floor, Dai-2 Ryumeikan Building, Chiyoda-ku, Tokyo, JPN, 101-0052
Insource Co Ltd provides corporate training and business-related open courses. Also, it offers HR related system and transition support for employment, as well as production of e-learning and corporate movies. The group consists of a single segment, Education Services. It provides human resource development and organizational consulting services, mainly through four businesses: Instructor-Dispatch Training Services and Open Seminar Services related to training, IT Services related to the IT implementation of human resources departments, and Other Businesses.
79GF Score

Get the complete analysis for TSE:6200

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

円629.00
Price
円1,180.06
GF Value