Biotechnology AssetsXMAD:BST 22 Piotroski F-Score is 4 as of Jul. 10, 2026, which is at its 10-year median of 4.00. GuruFocus rates XMAD:BST with a GF Score™ of 22/100 and a GF Value™ of €0.30 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,332 Biotechnology companies, Biotechnology Assets ranks better than 73.8% 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
Biotechnology Assets 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 Biotechnology Assets's Piotroski F-Score or its related term are showing as below:
XMAD:BST'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 4 Max: 6
Current: 4
During the past 13 years, the highest Piotroski F-Score of Biotechnology Assets was 6. The lowest was 3. And the median was 4.
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.
Biotechnology Assets Piotroski F-Score Related Terms
Biotechnology Assets Piotroski F-Score Historical Data
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The historical data trend for Biotechnology Assets'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.
XMAD:BST vs VRTX, REGN, ALNY: Piotroski F-Score Comparison
For the Biotechnology subindustry, Biotechnology Assets'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.
Biotechnology Assets Piotroski F-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Biotechnology Assets's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Biotechnology Assets'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.
Biotechnology Assets's current Net Income (TTM) was -1.92.
==> 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.
Biotechnology Assets's return on assets of this year was -0.12959957. Biotechnology Assets's return on assets of last year was -0.17564882.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Biotechnology Assets's gearing of this year was 0.16234522. Biotechnology Assets's gearing of last year was 0.15214552.
==> 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
Biotechnology Assets's current ratio of this year was 1.40397554. Biotechnology Assets's current ratio of last year was 0.81292592.
==> This year's current ratio is higher. ==> Score 1.
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.
Biotechnology Assets's number of shares in issue this year was 72.7. Biotechnology Assets's number of shares in issue last year was 65.969.
==> 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.
Biotechnology Assets's gross margin of this year was 1.03558719. Biotechnology Assets's gross margin of last year was 1.05487078.
==> 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
Biotechnology Assets's asset turnover of this year was 0.20907738. Biotechnology Assets's asset turnover of last year was 0.15144216.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
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4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Biotechnology Assets has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Biotechnology Assets (XMAD:BST) has a Piotroski F-Score of 4 as of Jul. 10, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Biotechnology Assets and its competitors. This is near median its historical median of 4.00. Over the past decade, Biotechnology Assets' Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, Biotechnology Assets ranks #349 out of 1332 companies in the Biotechnology industry, placing it in the top 26.2%.
Is Biotechnology Assets' Piotroski F-Score too high?
Biotechnology Assets' current Piotroski F-Score of 4 is near 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 6.00. The Biotechnology industry median Piotroski F-Score is 3.00. Biotechnology Assets' value of 4 is 33.3% above this industry median. Based on the distribution chart, Biotechnology Assets ranks #349 out of 1332 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Biotechnology Assets has a GF Score™ of 22/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Biotechnology Assets' Piotroski F-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Biotechnology Assets ranks #349 out of 1332 companies for Piotroski F-Score. This puts Biotechnology Assets in the upper half of its industry. The industry median Piotroski F-Score is 3.00. Biotechnology Assets' value of 4 is 33.3% above this benchmark. Historically, Biotechnology Assets' own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 3.00, Biotechnology Assets 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 Biotechnology company?
The median Piotroski F-Score among Biotechnology companies is 3.00, based on 1,332 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. Biotechnology Assets's current Piotroski F-Score of 4 is 33.3% 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 Biotechnology Assets and its competitors. For the Biotechnology industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Biotechnology Assets's current Piotroski F-Score is 4, which is near 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 Biotechnology Assets stock overvalued right now?
Based on GuruFocus' analysis, Biotechnology Assets (XMAD:BST) is currently considered Possible Value Trap. The stock's GF Value™ is €0.30, compared to a current price of €0.21 — trading 29.7% below its estimated fair value. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 33.3% above the Biotechnology industry median of 3.00. Biotechnology Assets' overall GF Score™ is 22/100 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 Biotechnology Assets (XMAD:BST), the current Piotroski F-Score is 4 as of Jul. 10, 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 Biotechnology Assets (XMAD:BST) Overvalued in 2026?
Based on GuruFocus' analysis, Biotechnology Assets stock appears to be undervalued.
The current stock price of €0.21 is trading 29.7% below its estimated GF Value™ of €0.30.
GuruFocus considers Biotechnology Assets to be Possible Value Trap.
Key valuation signals for XMAD:BST:
Piotroski F-Score: 4 (near median its 10-year median of 4.00)
GF Value™: €0.30 vs. price of €0.21 (29.7% below fair value)
Industry Position: 33.3% above the Biotechnology median (#349 of 1332)
No single metric tells the full story. See the XMAD:BST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Biotechnology Assets SA is a clinical-stage biopharmaceutical company developing and producing biological products for the pharmaceutical and veterinarian sectors. It specializes in the prevention and treatment of niche diseases, such as orphan disease, antigens for new-generation vaccines, feed additives, and probiotics. Adl Bionatur offers a portfolio of non-therapeutic and therapeutic products to tier 1 and tier 2 animal health companies. The company's pipeline products include BNT006, BNT007, BNT010, and others.
22GF Score
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