East African BreweriesNAI:EABL +3.45%86 Piotroski F-Score is 7 as of Jul. 03, 2026, which is at its 10-year median of 7.00. GuruFocus rates NAI:EABL with a GF Score™ of 86/100 and a GF Value™ of KES319.63 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 209 Beverages - Alcoholic companies, East African Breweries ranks better than 89% on this metric.
Good Sign:
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
East African Breweries 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 East African Breweries's Piotroski F-Score or its related term are showing as below:
NAI:EABL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 7 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of East African Breweries was 9. The lowest was 3. And the median was 7.
East African Breweries (NAI:EABL) 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.
East African Breweries Piotroski F-Score Related Terms
East African Breweries Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for East African Breweries'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:EABL vs BUD, STZ, TAP: Piotroski F-Score Comparison
For the Beverages - Brewers subindustry, East African Breweries'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.
East African Breweries Piotroski F-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, East African Breweries's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where East African Breweries'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.
East African Breweries's current Net Income (TTM) was 9,466.
==> 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.
East African Breweries's current Cash Flow from Operations (TTM) was 23,767.
==> 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.
East African Breweries's return on assets of this year was 0.07618582. East African Breweries's return on assets of last year was 0.06143334.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
East African Breweries's gearing of this year was 0.28891671. East African Breweries's gearing of last year was 0.33709572.
==> 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
East African Breweries's current ratio of this year was 1.11097126. East African Breweries's current ratio of last year was 1.15037015.
==> 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.
East African Breweries's number of shares in issue this year was 790.774. East African Breweries's number of shares in issue last year was 790.774.
==> 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.
East African Breweries's gross margin of this year was 0.41988707. East African Breweries's gross margin of last year was 0.43218779.
==> 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
East African Breweries's asset turnover of this year was 1.03657247. East African Breweries's asset turnover of last year was 0.93617676.
==> 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
+
0
+
1
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
East African Breweries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
East African Breweries (NAI:EABL) has a Piotroski F-Score of 7 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on East African Breweries and its competitors. This is near median its historical median of 7.00. Over the past decade, East African Breweries' Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, East African Breweries ranks #23 out of 209 companies in the Beverages - Alcoholic industry, placing it in the top 11%.
Is East African Breweries' Piotroski F-Score too high?
East African Breweries' 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 3.00 to a high of 9.00. The Beverages - Alcoholic industry median Piotroski F-Score is 5.00. East African Breweries' value of 7 is 40% above this industry median. Based on the distribution chart, East African Breweries ranks #23 out of 209 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, East African Breweries has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does East African Breweries' Piotroski F-Score compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, East African Breweries ranks #23 out of 209 companies for Piotroski F-Score. This places East African Breweries in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. East African Breweries' value of 7 is 40% above this benchmark. Historically, East African Breweries' own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, East African Breweries 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 Beverages - Alcoholic company?
The median Piotroski F-Score among Beverages - Alcoholic companies is 5.00, based on 209 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. East African Breweries'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 East African Breweries and its competitors. For the Beverages - Alcoholic 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. East African Breweries'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 East African Breweries stock overvalued right now?
Based on GuruFocus' analysis, East African Breweries (NAI:EABL) is currently considered Modestly Undervalued. The stock's GF Value™ is KES319.63, compared to a current price of KES270.00 — trading 15.5% below 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 Beverages - Alcoholic industry median of 5.00. East African Breweries' overall GF Score™ is 86/100 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 East African Breweries (NAI:EABL), the current Piotroski F-Score is 7 as of Jul. 03, 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 East African Breweries (NAI:EABL) Overvalued in 2026?
Based on GuruFocus' analysis, East African Breweries stock appears to be undervalued.
The current stock price of KES270.00 is trading 15.5% below its estimated GF Value™ of KES319.63.
GuruFocus considers East African Breweries to be Modestly Undervalued.
Key valuation signals for NAI:EABL:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: KES319.63 vs. price of KES270.00 (15.5% below fair value)
Industry Position: 40% above the Beverages - Alcoholic median (#23 of 209)
No single metric tells the full story. See the NAI:EABL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
East African Breweries PLC is a branded alcohol beverage company. The firm and its subsidiaries are involved in the marketing, production, and distribution of a collection of brands that range from beer, spirits, and adult non-alcoholic drinks. The company has invested in breweries, distilleries, support industries, and a distribution network across the region. The firm derives its revenue mainly from brewing, marketing, and selling of drinks, malt, and barley. Its geographical segments include Kenya, Uganda, and Tanzania, of which the majority of the revenue is generated from Kenya.
86GF Score
Get the complete analysis for NAI:EABL
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:EABL has been successfully added to your 
