Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Piotroski F-Score is 7, 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
British American Tobacco Kenya has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for British American Tobacco Kenya's Piotroski F-Score or its related term are showing as below:
NAI:BAT'
s Piotroski F-Score Range Over the Past 10 Years
Min: 6 Med: 7 Max: 7
Current: 7
During the past 7 years, the highest Piotroski F-Score of British American Tobacco Kenya was 7. The lowest was 6. And the median was 7.
British American Tobacco Kenya (NAI:BAT) 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.
British American Tobacco Kenya Piotroski F-Score Related Terms
British American Tobacco Kenya Piotroski F-Score Historical Data
* 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.
British American Tobacco Kenya Piotroski F-Score Chart
NAI:BAT vs PM, MO, TPB: Piotroski F-Score Comparison
For the Tobacco subindustry, British American Tobacco Kenya'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.
British American Tobacco Kenya Piotroski F-Score vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Kenya's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where British American Tobacco Kenya'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.
British American Tobacco Kenya's current Net Income (TTM) was 5,246.
==> 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.
British American Tobacco Kenya's current Cash Flow from Operations (TTM) was 6,633.
==> 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.
British American Tobacco Kenya's return on assets of this year was 0.22176236. British American Tobacco Kenya's return on assets of last year was 0.18641911.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
British American Tobacco Kenya's gearing of this year was 0.0022187. British American Tobacco Kenya's gearing of last year was 0.00314027.
==> 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
British American Tobacco Kenya's current ratio of this year was 2.24252546. British American Tobacco Kenya's current ratio of last year was 2.25604251.
==> 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.
British American Tobacco Kenya's number of shares in issue this year was 100. British American Tobacco Kenya's number of shares in issue last year was 100.
==> 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.
British American Tobacco Kenya's gross margin of this year was 0.46652607. British American Tobacco Kenya's gross margin of last year was 0.40819916.
==> 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
British American Tobacco Kenya's asset turnover of this year was 0.98045673. British American Tobacco Kenya's asset turnover of last year was 1.06927063.
==> 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
+
0
+
1
+
1
+
0
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
British American Tobacco Kenya has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
British American Tobacco Kenya (NAI:BAT) has a Piotroski F-Score of 7 as of Jul. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on British American Tobacco Kenya and its competitors. This is near median its historical median of 7.00. Over the past decade, British American Tobacco Kenya's Piotroski F-Score has ranged from 6.00 to 7.00. According to the industry distribution chart, British American Tobacco Kenya ranks #8 out of 48 companies in the Tobacco Products industry, placing it in the top 16.7%.
Is British American Tobacco Kenya's Piotroski F-Score too high?
British American Tobacco Kenya's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 6.00 to a high of 7.00. The Tobacco Products industry median Piotroski F-Score is 5.00. British American Tobacco Kenya's value of 7 is 40% above this industry median. Based on the distribution chart, British American Tobacco Kenya ranks #8 out of 48 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, British American Tobacco Kenya has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Kenya's Piotroski F-Score compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Kenya ranks #8 out of 48 companies for Piotroski F-Score. This places British American Tobacco Kenya in the top 17% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. British American Tobacco Kenya's value of 7 is 40% above this benchmark. Historically, British American Tobacco Kenya's own Piotroski F-Score has ranged from 6.00 to 7.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, British American Tobacco Kenya 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 Tobacco Products company?
The median Piotroski F-Score among Tobacco Products companies is 5.00, based on 48 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. British American Tobacco Kenya's current Piotroski F-Score of 7 is 40% 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 British American Tobacco Kenya and its competitors. For the Tobacco Products 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. British American Tobacco Kenya's current Piotroski F-Score is 7, which is near 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 British American Tobacco Kenya stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Kenya (NAI:BAT) is currently considered Significantly Overvalued. The stock's GF Value™ is KES355.31, compared to a current price of KES579.00 — trading 63% above its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 40% above the Tobacco Products industry median of 5.00. British American Tobacco Kenya's overall GF Score™ is 69/100 with 6 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 British American Tobacco Kenya (NAI:BAT), the current Piotroski F-Score is 7 as of Jul. 27, 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 British American Tobacco Kenya (NAI:BAT) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Kenya stock appears to be overvalued.
The current stock price of KES579.00 is trading 63% above its estimated GF Value™ of KES355.31.
GuruFocus considers British American Tobacco Kenya to be Significantly Overvalued.
Key valuation signals for NAI:BAT:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: KES355.31 vs. price of KES579.00 (63% above fair value)
Industry Position: 40% above the Tobacco Products median (#8 of 48)
No single metric tells the full story. See the NAI:BAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Kenya Business Description
British American Tobacco Kenya PLC multi-category consumer goods business that operates internationally. The business activities of the company involves activities ranging from the growing of tobacco leaf to the distribution and sale of finished tobacco products and nicotine products without tobacco. The product portfolio of the company comprises a range of high-quality and creative products, including cigarettes (combustible products), cut-rug tobacco (unprocessed tobacco), and potentially reduced-risk category of tobacco-free oral nicotine products.
69GF Score
Get the complete analysis for NAI:BAT
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NAI:BAT has been successfully added to your 
