United Gulf Investment BSC (BAH:UGIC) Piotroski F-Score: 8 (As of Jul. 01, 2026) — 33% Above Median


What is United Gulf Investment BSC Piotroski F-Score?

United Gulf Investment BSC BAH:UGIC Piotroski F-Score is 8 as of Jul. 01, 2026, which is 33% above its 10-year median of 6.00. The stock has 6 warning signs investors should review. Among 2,506 Metals & Mining companies, United Gulf Investment BSC ranks better than 99% 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

United Gulf Investment BSC 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 United Gulf Investment BSC's Piotroski F-Score or its related term are showing as below:

BAH:UGIC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of United Gulf Investment BSC was 9. The lowest was 1. And the median was 6.

United Gulf Investment BSC  (BAH:UGIC) 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.


United Gulf Investment BSC Piotroski F-Score Related Terms


United Gulf Investment BSC Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for United Gulf Investment BSC'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.

United Gulf Investment BSC Piotroski F-Score Chart

United Gulf Investment BSC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.00 6.00 3.00 7.00 7.00

United Gulf Investment BSC 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 8.00 7.00 7.00 7.00 8.00

United Gulf Investment BSC Piotroski F-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, United Gulf Investment BSC'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.


United Gulf Investment BSC Piotroski F-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, United Gulf Investment BSC's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where United Gulf Investment BSC's Piotroski F-Score falls into.


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 (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was 0.115 + 0.095 + 0.297 + 0.431 = BHD0.94 Mil.
Cash Flow from Operations was -1.781 + -0.162 + 4.753 + 3.248 = BHD6.06 Mil.
Revenue was 9.199 + 10.891 + 11.113 + 8.388 = BHD39.59 Mil.
Gross Profit was 0.743 + 0.825 + 0.105 + 1.196 = BHD2.87 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(63.044 + 65.819 + 65.812 + 64.075 + 66.68) / 5 = BHD65.086 Mil.
Total Assets at the begining of this year (Mar25) was BHD63.04 Mil.
Long-Term Debt & Capital Lease Obligation was BHD12.57 Mil.
Total Current Assets was BHD38.38 Mil.
Total Current Liabilities was BHD12.41 Mil.
Net Income was 0.186 + 0.226 + -0.225 + 0.026 = BHD0.21 Mil.

Revenue was 12.122 + 10.159 + 10.375 + 7.966 = BHD40.62 Mil.
Gross Profit was 0.933 + 0.584 + -0.821 + 0.548 = BHD1.24 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(66.83 + 69.694 + 68.79 + 66.747 + 63.044) / 5 = BHD67.021 Mil.
Total Assets at the begining of last year (Mar24) was BHD66.83 Mil.
Long-Term Debt & Capital Lease Obligation was BHD13.68 Mil.
Total Current Assets was BHD33.39 Mil.
Total Current Liabilities was BHD8.94 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.

United Gulf Investment BSC's current Net Income (TTM) was 0.94. ==> 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.

United Gulf Investment BSC's current Cash Flow from Operations (TTM) was 6.06. ==> 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 (Mar25)
=0.938/63.044
=0.0148785

ROA (Last Year)=Net Income/Total Assets (Mar24)
=0.213/66.83
=0.00318719

United Gulf Investment BSC's return on assets of this year was 0.0148785. United Gulf Investment BSC's return on assets of last year was 0.00318719. ==> 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.

United Gulf Investment BSC's current Net Income (TTM) was 0.94. United Gulf Investment BSC's current Cash Flow from Operations (TTM) was 6.06. ==> 6.06 > 0.94 ==> 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: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=12.569/65.086
=0.19311373

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=13.683/67.021
=0.20415989

United Gulf Investment BSC's gearing of this year was 0.19311373. United Gulf Investment BSC's gearing of last year was 0.20415989. ==> 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: Mar26)=Total Current Assets/Total Current Liabilities
=38.382/12.412
=3.09233

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=33.393/8.94
=3.7352349

United Gulf Investment BSC's current ratio of this year was 3.09233. United Gulf Investment BSC's current ratio of last year was 3.7352349. ==> Last year's current ratio is higher ==> Score 0.

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.

United Gulf Investment BSC's number of shares in issue this year was 200. United Gulf Investment BSC's number of shares in issue last year was 200. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2.869/39.591
=0.07246596

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1.244/40.622
=0.0306238

United Gulf Investment BSC's gross margin of this year was 0.07246596. United Gulf Investment BSC's gross margin of last year was 0.0306238. ==> 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 (Mar25)
=39.591/63.044
=0.62798998

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=40.622/66.83
=0.60784079

United Gulf Investment BSC's asset turnover of this year was 0.62798998. United Gulf Investment BSC's asset turnover of last year was 0.60784079. ==> This year's asset turnover is higher. ==> Score 1.

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+0+1+1+1
=8

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

United Gulf Investment BSC has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 8 mean?
United Gulf Investment BSC (BAH:UGIC) has a Piotroski F-Score of 8 as of Jul. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on United Gulf Investment BSC and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, United Gulf Investment BSC's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, United Gulf Investment BSC ranks #25 out of 2506 companies in the Metals & Mining industry, placing it in the top 1%.
Is United Gulf Investment BSC's Piotroski F-Score too high?
United Gulf Investment BSC's current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Metals & Mining industry median Piotroski F-Score is 3.00. United Gulf Investment BSC's value of 8 is 166.7% above this industry median. Based on the distribution chart, United Gulf Investment BSC ranks #25 out of 2506 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers.
How does United Gulf Investment BSC's Piotroski F-Score compare to competitors?
According to the Metals & Mining industry distribution chart, United Gulf Investment BSC ranks #25 out of 2506 companies for Piotroski F-Score. This places United Gulf Investment BSC in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. United Gulf Investment BSC's value of 8 is 166.7% above this benchmark. Historically, United Gulf Investment BSC's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 3.00, United Gulf Investment BSC 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 a Metals & Mining company?
The median Piotroski F-Score among Metals & Mining companies is 3.00, based on 2,506 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. United Gulf Investment BSC's current Piotroski F-Score of 8 is 166.7% 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 United Gulf Investment BSC and its competitors. For the Metals & Mining industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Gulf Investment BSC's current Piotroski F-Score is 8, which is 33% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Gulf Investment BSC stock overvalued right now?
Based on GuruFocus' analysis, United Gulf Investment BSC (BAH:UGIC) is currently considered Fairly Valued. The stock's GF Value™ is BHD0.04, compared to a current price of BHD0.04 — trading 5% below its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 166.7% above the Metals & Mining industry median of 3.00. 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 United Gulf Investment BSC (BAH:UGIC), the current Piotroski F-Score is 8 as of Jul. 01, 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.

United Gulf Investment BSC Business Description

Address Road 2832, Block 428, P.O. Box 10177, Almoayyed Tower, Office 3202, Building 2504, Al-Seef District, Manama, BHR
United Gulf Investment Corp BSC is engaged in property leasing, buying, and selling of properties for the company, third-grade industrial maintenance works, and investment in local industrial projects. The company's investment objective includes developing and promoting industrial, chemical, and energy-related projects, in the Gulf region, identifying and investing in direct investment opportunities and investing in listed stocks and other financial instruments. Its operating segment includes operating activities and Investment activities. The company has two geographical segments; the Kingdom of Bahrain and the Kingdom of Saudi Arabia.