Sanica Isinayi AS (IST:SNICA) Piotroski F-Score: 5 (As of Jun. 30, 2026) — 25% Above Median


IST:SNICA Sanica Isi Sanayi AS IST:SNICA
82 GF Score
Price ₺4.50
GF Value ₺5.62
Valuation Modestly Undervalued
! 9 Warning Signs
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What is Sanica Isinayi AS Piotroski F-Score?

Sanica Isinayi AS IST:SNICA -9.82% 82 Piotroski F-Score is 5 as of Jun. 30, 2026, which is 25% above its 10-year median of 4.00. GuruFocus rates IST:SNICA with a GF Score™ of 82/100 and a GF Value™ of ₺5.62 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 425 Furnishings, Fixtures & Appliances companies, Sanica Isinayi AS ranks better than 59.06% 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

Sanica Isinayi AS has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

IST:SNICA' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 8
Current: 5

During the past 7 years, the highest Piotroski F-Score of Sanica Isinayi AS was 8. The lowest was 3. And the median was 4.

Sanica Isinayi AS  (IST:SNICA) 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.


Sanica Isinayi AS Piotroski F-Score Related Terms


Sanica Isinayi AS Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Sanica Isinayi AS'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.

Sanica Isinayi AS Piotroski F-Score Chart

Sanica Isinayi AS Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 7.00 4.00 3.00

Sanica Isinayi AS Quarterly Data
Dec19 Dec20 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 4.00 3.00 4.00 3.00 5.00

IST:SNICA vs SN, SGI, MHK: Piotroski F-Score Comparison

For the Furnishings, Fixtures & Appliances subindustry, Sanica Isinayi AS'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.


Sanica Isinayi AS Piotroski F-Score vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Sanica Isinayi AS's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Sanica Isinayi AS's Piotroski F-Score falls into.


IST:SNICA
82GF Score
Sanica Isi Sanayi AS IST:SNICA
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 -139.702 + -83.343 + -213.18 + -340.452 = ₺-777 Mil.
Cash Flow from Operations was -41.004 + -46.995 + 236.973 + 263.741 = ₺413 Mil.
Revenue was 748.062 + 941.998 + 957.126 + 624.721 = ₺3,272 Mil.
Gross Profit was 82.824 + 132.733 + 134.4 + 210.222 = ₺560 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(3870.759 + 5008.232 + 8662.853 + 8341.923 + 8566.002) / 5 = ₺6889.9538 Mil.
Total Assets at the begining of this year (Mar25) was ₺3,871 Mil.
Long-Term Debt & Capital Lease Obligation was ₺125 Mil.
Total Current Assets was ₺3,543 Mil.
Total Current Liabilities was ₺2,613 Mil.
Net Income was 10.536 + 142.442 + -1113.068 + -473.037 = ₺-1,433 Mil.

Revenue was 811.527 + 775.995 + 901.124 + 738.064 = ₺3,227 Mil.
Gross Profit was 311.401 + 208.89 + 126.92 + 94.155 = ₺741 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(4168.051 + 4718.156 + 5456.715 + 6126.712 + 3870.759) / 5 = ₺4868.0786 Mil.
Total Assets at the begining of last year (Mar24) was ₺4,168 Mil.
Long-Term Debt & Capital Lease Obligation was ₺74 Mil.
Total Current Assets was ₺2,316 Mil.
Total Current Liabilities was ₺1,189 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.

Sanica Isinayi AS's current Net Income (TTM) was -777. ==> 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.

Score 1 if positive, 0 if negative.

Sanica Isinayi AS's current Cash Flow from Operations (TTM) was 413. ==> 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)
=-776.677/3870.759
=-0.20065238

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-1433.127/4168.051
=-0.34383624

Sanica Isinayi AS's return on assets of this year was -0.20065238. Sanica Isinayi AS's return on assets of last year was -0.34383624. ==> 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.

Sanica Isinayi AS's current Net Income (TTM) was -777. Sanica Isinayi AS's current Cash Flow from Operations (TTM) was 413. ==> 413 > -777 ==> 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
=125.416/6889.9538
=0.01820273

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=73.697/4868.0786
=0.01513883

Sanica Isinayi AS's gearing of this year was 0.01820273. Sanica Isinayi AS's gearing of last year was 0.01513883. ==> 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

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=3543.49/2613.187
=1.35600323

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=2315.819/1189.335
=1.9471545

Sanica Isinayi AS's current ratio of this year was 1.35600323. Sanica Isinayi AS's current ratio of last year was 1.9471545. ==> 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.

Sanica Isinayi AS's number of shares in issue this year was 600. Sanica Isinayi AS's number of shares in issue last year was 600. ==> 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
=560.179/3271.907
=0.17120872

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=741.366/3226.71
=0.2297591

Sanica Isinayi AS's gross margin of this year was 0.17120872. Sanica Isinayi AS's gross margin of last year was 0.2297591. ==> 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 (Mar25)
=3271.907/3870.759
=0.84528822

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=3226.71/4168.051
=0.7741532

Sanica Isinayi AS's asset turnover of this year was 0.84528822. Sanica Isinayi AS's asset turnover of last year was 0.7741532. ==> 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
=0+1+1+1+0+0+1+0+1
=5

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

Sanica Isinayi AS has an F-score of 5 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 5 mean?
Sanica Isinayi AS (IST:SNICA) has a Piotroski F-Score of 5 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Sanica Isinayi AS and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, Sanica Isinayi AS's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Sanica Isinayi AS ranks #174 out of 425 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 40.9%.
Is Sanica Isinayi AS's Piotroski F-Score too high?
Sanica Isinayi AS's current Piotroski F-Score of 5 is 25% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Furnishings, Fixtures & Appliances industry median Piotroski F-Score is 5.00. Sanica Isinayi AS's value of 5 is 0% at this industry median. Based on the distribution chart, Sanica Isinayi AS ranks #174 out of 425 companies in the Furnishings, Fixtures & Appliances industry, which is above the industry midpoint. Overall, Sanica Isinayi AS has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sanica Isinayi AS's Piotroski F-Score compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Sanica Isinayi AS ranks #174 out of 425 companies for Piotroski F-Score. This puts Sanica Isinayi AS in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Sanica Isinayi AS's value of 5 is 0% at this benchmark. Historically, Sanica Isinayi AS'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 4.00 vs. the industry median of 5.00, Sanica Isinayi AS 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 Furnishings, Fixtures & Appliances company?
The median Piotroski F-Score among Furnishings, Fixtures & Appliances companies is 5.00, based on 425 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. Sanica Isinayi AS'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 Sanica Isinayi AS and its competitors. For the Furnishings, Fixtures & Appliances 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. Sanica Isinayi AS's current Piotroski F-Score is 5, which is 25% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sanica Isinayi AS stock overvalued right now?
Based on GuruFocus' analysis, Sanica Isinayi AS (IST:SNICA) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺5.62, compared to a current price of ₺4.50 — trading 19.9% below its estimated fair value. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Furnishings, Fixtures & Appliances industry median of 5.00. Sanica Isinayi AS's overall GF Score™ is 82/100 with 9 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 Sanica Isinayi AS (IST:SNICA), the current Piotroski F-Score is 5 as of Jun. 30, 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 Sanica Isinayi AS (IST:SNICA) Overvalued in 2026?

Based on GuruFocus' analysis, Sanica Isinayi AS stock appears to be undervalued. The current stock price of ₺4.50 is trading 19.9% below its estimated GF Value™ of ₺5.62. GuruFocus considers Sanica Isinayi AS to be Modestly Undervalued.

Key valuation signals for IST:SNICA:

  • Piotroski F-Score: 5 (25% above median its 10-year median of 4.00)
  • GF Value™: ₺5.62 vs. price of ₺4.50 (19.9% below fair value)
  • GF Score™: 82/100 with 9 warning signs
  • Industry Position: 0% at the Furnishings, Fixtures & Appliances median (#174 of 425)

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


Sanica Isinayi AS Business Description

Address Kavakli Mah Istanbul Cad. No: 10, Istanbul, TUR, 34520
Sanica Isi Sanayi AS engages in manufacturing fabricated metal products, machinery electrical equipment, and transportation vehicles. It is a manufacturer of acrylic bathtubs and also produces bathrooms, spas, heat, plumbing, glass, and infrastructure. It offers electric housewares, acrylic bathtubs, boilers, panel radiators, and towel warmers.
82GF Score

Get the complete analysis for IST:SNICA

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

₺4.50
Price
₺5.62
GF Value