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Tokio Marine HoldingsTSE:8766 +1.99%61 Piotroski F-Score is 8 as of Jul. 24, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates TSE:8766 with a GF Score™ of 61/100 and a GF Value™ of 円6,350.60 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 484 Insurance companies, Tokio Marine Holdings ranks better than 96.69% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tokio Marine Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Tokio Marine Holdings's Piotroski F-Score or its related term are showing as below:
TSE:8766'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 7 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of Tokio Marine Holdings was 9. The lowest was 4. And the median was 7.
Tokio Marine Holdings (TSE:8766) 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.
Tokio Marine Holdings Piotroski F-Score Related Terms
Tokio Marine Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Tokio Marine Holdings'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.
TSE:8766 vs CB, PGR, TRV: Piotroski F-Score Comparison
For the Insurance - Property & Casualty subindustry, Tokio Marine Holdings'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.
Tokio Marine Holdings Piotroski F-Score vs Insurance Industry
For the Insurance industry and Financial Services sector, Tokio Marine Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Tokio Marine Holdings'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.
*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.
Tokio Marine Holdings's current Net Income (TTM) was 531,255.
==> 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.
Tokio Marine Holdings's current Cash Flow from Operations (TTM) was 1,390,562.
==> 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.
Tokio Marine Holdings's return on assets of this year was 0.01741971. Tokio Marine Holdings's return on assets of last year was 0.01446382.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tokio Marine Holdings's gearing of this year was 0.02289593. Tokio Marine Holdings's gearing of last year was 0.02214387.
==> Last year is lower than this year ==> Score 0.
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
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Tokio Marine Holdings's current ratio of this year was 1.32273665. Tokio Marine Holdings's current ratio of last year was 1.30415916.
==> 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.
Tokio Marine Holdings's number of shares in issue this year was 1903.09. Tokio Marine Holdings's number of shares in issue last year was 1947.919.
==> 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.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Tokio Marine Holdings's net margin of this year was 0.0639284. Tokio Marine Holdings's net margin of last year was 0.05772781.
==> This year's net 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
Tokio Marine Holdings's asset turnover of this year was 0.27248773. Tokio Marine Holdings's asset turnover of last year was 0.25055199.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tokio Marine Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Tokio Marine Holdings (TSE:8766) has a Piotroski F-Score of 8 as of Jul. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tokio Marine Holdings and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Tokio Marine Holdings' Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Tokio Marine Holdings ranks #16 out of 484 companies in the Insurance industry, placing it in the top 3.3%.
Is Tokio Marine Holdings' Piotroski F-Score too high?
Tokio Marine Holdings' current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Insurance industry median Piotroski F-Score is 6.00. Tokio Marine Holdings' value of 8 is 33.3% above this industry median. Based on the distribution chart, Tokio Marine Holdings ranks #16 out of 484 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Tokio Marine Holdings has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokio Marine Holdings' Piotroski F-Score compare to CB and PGR?
According to the Insurance industry distribution chart, Tokio Marine Holdings ranks #16 out of 484 companies for Piotroski F-Score. This places Tokio Marine Holdings in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Tokio Marine Holdings' value of 8 is 33.3% above this benchmark. Historically, Tokio Marine Holdings' own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Tokio Marine Holdings 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 Insurance company?
The median Piotroski F-Score among Insurance companies is 6.00, based on 484 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. Tokio Marine Holdings's current Piotroski F-Score of 8 is 33.3% 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 Tokio Marine Holdings and its competitors. For the Insurance industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokio Marine Holdings's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokio Marine Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tokio Marine Holdings (TSE:8766) is currently considered Modestly Overvalued. The stock's GF Value™ is 円6,350.60, compared to a current price of 円8,116.00 — trading 27.8% above its estimated fair value. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 33.3% above the Insurance industry median of 6.00. Tokio Marine Holdings' overall GF Score™ is 61/100 with 4 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 Tokio Marine Holdings (TSE:8766), the current Piotroski F-Score is 8 as of Jul. 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.
Is Tokio Marine Holdings (TSE:8766) Overvalued in 2026?
Based on GuruFocus' analysis, Tokio Marine Holdings stock appears to be overvalued.
The current stock price of 円8,116.00 is trading 27.8% above its estimated GF Value™ of 円6,350.60.
GuruFocus considers Tokio Marine Holdings to be Modestly Overvalued.
Key valuation signals for TSE:8766:
Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
GF Value™: 円6,350.60 vs. price of 円8,116.00 (27.8% above fair value)
Industry Position: 33.3% above the Insurance median (#16 of 484)
No single metric tells the full story. See the TSE:8766 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dating back to 1879, Tokio Marine is the oldest insurance company in Japan and operated as its top property and casualty insurer for decades. Following industry consolidation, it now shares domestic dominance with MS and AD and Sompo. However, Tokio Marine remains by far the most valuable listed Japanese insurer by market capitalization. This premium valuation is driven by an aggressive unwinding of domestic cross-shareholdings and a highly profitable overseas portfolio. The majority of its international business is based in the United States, where it has acquired premium specialty insurers since 2008, including Philadelphia Consolidated, Delphi Financial, Tokio Marine HCC, and Privilege Underwriters Reciprocal Exchange, recently fortified by a capital alliance with Berkshire Hathaway.
61GF Score
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