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CIC Insurance GroupNAI:CIC -3.70%75 Piotroski F-Score is 4 as of Aug. 07, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates NAI:CIC with a GF Score™ of 75/100 and a GF Value™ of KES3.39 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 486 Insurance companies, CIC Insurance Group ranks worse than 78.81% 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
CIC Insurance Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for CIC Insurance Group's Piotroski F-Score or its related term are showing as below:
NAI:CIC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 4
During the past 13 years, the highest Piotroski F-Score of CIC Insurance Group was 9. The lowest was 3. And the median was 5.
CIC Insurance Group (NAI:CIC) 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.
CIC Insurance Group Piotroski F-Score Related Terms
CIC Insurance Group Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for CIC Insurance Group'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.
NAI:CIC vs BRK.A, AIG, HIG: Piotroski F-Score Comparison
For the Insurance - Diversified subindustry, CIC Insurance Group'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.
CIC Insurance Group Piotroski F-Score vs Insurance Industry
For the Insurance industry and Financial Services sector, CIC Insurance Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where CIC Insurance Group'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.
CIC Insurance Group's current Net Income (TTM) was 589.
==> 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.
CIC Insurance Group's return on assets of this year was 0.00950256. CIC Insurance Group's return on assets of last year was 0.05400516.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
CIC Insurance Group's gearing of this year was 0.07661262. CIC Insurance Group's gearing of last year was 0.09748859.
==> 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
* 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.
CIC Insurance Group's current ratio of this year was 1.19135545. CIC Insurance Group's current ratio of last year was 1.21628031.
==> 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.
CIC Insurance Group's number of shares in issue this year was 2746.328. CIC Insurance Group's number of shares in issue last year was 2615.578.
==> 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.
* 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.
CIC Insurance Group's net margin of this year was 0.01808887. CIC Insurance Group's net margin of last year was 0.08450792.
==> Last year's net 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
CIC Insurance Group's asset turnover of this year was 0.52532635. CIC Insurance Group's asset turnover of last year was 0.63905447.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CIC Insurance Group has an F-score of 4 indicating the company's financial situation is typical for a stable company.
CIC Insurance Group (NAI:CIC) has a Piotroski F-Score of 4 as of Aug. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on CIC Insurance Group and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, CIC Insurance Group's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, CIC Insurance Group ranks #383 out of 486 companies in the Insurance industry, placing it in the top 78.8%.
Is CIC Insurance Group's Piotroski F-Score too high?
CIC Insurance Group's current Piotroski F-Score of 4 is 20% below 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 9.00. The Insurance industry median Piotroski F-Score is 6.00. CIC Insurance Group's value of 4 is 33.3% below this industry median. Based on the distribution chart, CIC Insurance Group ranks #383 out of 486 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, CIC Insurance Group has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CIC Insurance Group's Piotroski F-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, CIC Insurance Group ranks #383 out of 486 companies for Piotroski F-Score. This places CIC Insurance Group in the lower half of its industry. The industry median Piotroski F-Score is 6.00. CIC Insurance Group's value of 4 is 33.3% below this benchmark. Historically, CIC Insurance Group's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, CIC Insurance Group has consistently been below 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 486 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. CIC Insurance Group's current Piotroski F-Score of 4 is 33.3% below 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 CIC Insurance Group 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. CIC Insurance Group's current Piotroski F-Score is 4, which is 20% below 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 CIC Insurance Group stock overvalued right now?
Based on GuruFocus' analysis, CIC Insurance Group (NAI:CIC) is currently considered Significantly Overvalued. The stock's GF Value™ is KES3.39, compared to a current price of KES4.69 — trading 38.3% above its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 33.3% below the Insurance industry median of 6.00. CIC Insurance Group's overall GF Score™ is 75/100 with 3 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 CIC Insurance Group (NAI:CIC), the current Piotroski F-Score is 4 as of Aug. 07, 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 CIC Insurance Group (NAI:CIC) Overvalued in 2026?
Based on GuruFocus' analysis, CIC Insurance Group stock appears to be overvalued.
The current stock price of KES4.69 is trading 38.3% above its estimated GF Value™ of KES3.39.
GuruFocus considers CIC Insurance Group to be Significantly Overvalued.
Key valuation signals for NAI:CIC:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: KES3.39 vs. price of KES4.69 (38.3% above fair value)
Industry Position: 33.3% below the Insurance median (#383 of 486)
No single metric tells the full story. See the NAI:CIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIC Insurance Group Ltd operates as a Co-operative insurer in Africa, offering insurance and investment services across Kenya, Uganda, South Sudan, and Malawi. Its diverse portfolio includes General Insurance, Life Assurance, Microinsurance, Asset Management and Pharmaceutical services. The Company's reportable segments are long-term business, general insurance business, asset management, and other business. The majority of revenue is derived from the Asset Management segment.
75GF Score
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