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TBO TekNSE:TBOTEK +3.82%47 Piotroski F-Score is 2 as of Sep. 21, 2026, which is 50% below its 10-year median of 4.00. GuruFocus rates NSE:TBOTEK with a GF Score™ of 47/100. The stock has 6 warning signs investors should review. Among 830 Travel & Leisure companies, TBO Tek ranks worse than 95.9% on this metric.
Warning Sign:
Piotroski F-Score of 2 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
TBO Tek has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for TBO Tek's Piotroski F-Score or its related term are showing as below:
NSE:TBOTEK'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 5
Current: 2
During the past 8 years, the highest Piotroski F-Score of TBO Tek was 5. The lowest was 2. And the median was 4.
TBO Tek (NSE:TBOTEK) 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.
TBO Tek Piotroski F-Score Related Terms
TBO Tek Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for TBO Tek'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.
NSE:TBOTEK vs BKNG, ABNB, RCL: Piotroski F-Score Comparison
For the Travel Services subindustry, TBO Tek'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.
TBO Tek Piotroski F-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, TBO Tek's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where TBO Tek'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.
TBO Tek's current Net Income (TTM) was 2,443.
==> 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.
TBO Tek's current ratio of this year was 1.0790155. TBO Tek's current ratio of last year was 1.19900609.
==> 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.
TBO Tek's number of shares in issue this year was 0. TBO Tek's number of shares in issue last year was 0.
==> 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.
TBO Tek's gross margin of this year was 0.28452351. TBO Tek's gross margin of last year was 0.33251912.
==> 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
TBO Tek's asset turnover of this year was 0.43085599. TBO Tek's asset turnover of last year was 0.35769396.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
TBO Tek has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
TBO Tek (NSE:TBOTEK) has a Piotroski F-Score of 2 as of Sep. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on TBO Tek and its competitors. This is 50% below median its historical median of 4.00. Over the past decade, TBO Tek's Piotroski F-Score has ranged from 2.00 to 5.00. According to the industry distribution chart, TBO Tek ranks #796 out of 830 companies in the Travel & Leisure industry, placing it in the top 95.9%.
Is TBO Tek's Piotroski F-Score too high?
TBO Tek's current Piotroski F-Score of 2 is 50% below median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.00. The Travel & Leisure industry median Piotroski F-Score is 5.00. TBO Tek's value of 2 is 60% below this industry median. Based on the distribution chart, TBO Tek ranks #796 out of 830 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, TBO Tek has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does TBO Tek's Piotroski F-Score compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, TBO Tek ranks #796 out of 830 companies for Piotroski F-Score. This places TBO Tek in the lower half of its industry. The industry median Piotroski F-Score is 5.00. TBO Tek's value of 2 is 60% below this benchmark. Historically, TBO Tek's own Piotroski F-Score has ranged from 2.00 to 5.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, TBO Tek 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 a Travel & Leisure company?
The median Piotroski F-Score among Travel & Leisure companies is 5.00, based on 830 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. TBO Tek's current Piotroski F-Score of 2 is 60% 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 TBO Tek and its competitors. For the Travel & Leisure 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. TBO Tek's current Piotroski F-Score is 2, which is 50% below 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 TBO Tek stock overvalued right now?
TBO Tek (NSE:TBOTEK) has a current Piotroski F-Score of 2. The current Piotroski F-Score is 2, which is 50% below median its 10-year median of 4.00 and 60% below the Travel & Leisure industry median of 5.00. TBO Tek's overall GF Score™ is 47/100 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 TBO Tek (NSE:TBOTEK), the current Piotroski F-Score is 2 as of Sep. 21, 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.
TBO Tek Ltd is a travel distribution platform. It is engaged in the business of operating an online technology platform (TBO Portal) providing its customers access to book international travel inventory aggregated through travel suppliers like airlines, hotels, cruises, car rentals, transfers, and rail services among others. Its customers include retail and API buyers such as travel agencies, independent travel advisors, and enterprise buyers including tour operators, travel management companies, online travel companies, super-apps, and loyalty apps. The company's business activities fall within two primary business segments; Air ticketing which generates maximum revenue, and Hotels and packages. Geographically, it derives maximum revenue from India and also has its presence outside India.
47GF Score
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