Banque Internationale Arabe de Tunisie (XTUN:BIAT) 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.
Banque Internationale Arabe de Tunisie Piotroski F-Score Related Terms
Banque Internationale Arabe de Tunisie 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.
Banque Internationale Arabe de Tunisie Piotroski F-Score Chart
Banque Internationale Arabe de Tunisie Annual Data
For the Banks - Regional subindustry, Banque Internationale Arabe de Tunisie'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.
Banque Internationale Arabe de Tunisie Piotroski F-Score vs Banks Industry
For the Banks industry and Financial Services sector, Banque Internationale Arabe de Tunisie's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Banque Internationale Arabe de Tunisie'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.
Banque Internationale Arabe de Tunisie's current Net Income (TTM) was 467.
==> 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.
Banque Internationale Arabe de Tunisie's current Cash Flow from Operations (TTM) was 1,645.
==> 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.
Banque Internationale Arabe de Tunisie's return on assets of this year was 0.01777702. Banque Internationale Arabe de Tunisie's return on assets of last year was 0.0160336.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Banque Internationale Arabe de Tunisie's gearing of this year was 0.03615273. Banque Internationale Arabe de Tunisie's gearing of last year was 0.03450786.
==> 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
* 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.
Banque Internationale Arabe de Tunisie's current ratio of this year was 1.17594145. Banque Internationale Arabe de Tunisie's current ratio of last year was 1.15372791.
==> 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.
Banque Internationale Arabe de Tunisie's number of shares in issue this year was 40.8. Banque Internationale Arabe de Tunisie's number of shares in issue last year was 40.8.
==> 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.
* 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.
Banque Internationale Arabe de Tunisie's net margin of this year was 0.21610724. Banque Internationale Arabe de Tunisie's net margin of last year was 0.19773283.
==> This year's net 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
Banque Internationale Arabe de Tunisie's asset turnover of this year was 0.08226018. Banque Internationale Arabe de Tunisie's asset turnover of last year was 0.08108719.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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1
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1
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Banque Internationale Arabe de Tunisie has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Banque Internationale Arabe de Tunisie (XTUN:BIAT) has a Piotroski F-Score of 8 as of Jun. 28, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Banque Internationale Arabe de Tunisie and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Banque Internationale Arabe de Tunisie's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Banque Internationale Arabe de Tunisie ranks #109 out of 1501 companies in the Banks industry, placing it in the top 7.3%.
Is Banque Internationale Arabe de Tunisie's Piotroski F-Score too high?
Banque Internationale Arabe de Tunisie's current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Banks industry median Piotroski F-Score is 6.00. Banque Internationale Arabe de Tunisie's value of 8 is 33.3% above this industry median. Based on the distribution chart, Banque Internationale Arabe de Tunisie ranks #109 out of 1501 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Banque Internationale Arabe de Tunisie has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Banque Internationale Arabe de Tunisie's Piotroski F-Score compare to PNC?
According to the Banks industry distribution chart, Banque Internationale Arabe de Tunisie ranks #109 out of 1501 companies for Piotroski F-Score. This places Banque Internationale Arabe de Tunisie in the top 7% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Banque Internationale Arabe de Tunisie's value of 8 is 33.3% above this benchmark. Historically, Banque Internationale Arabe de Tunisie's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Banque Internationale Arabe de Tunisie 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 Banks company?
The median Piotroski F-Score among Banks companies is 6.00, based on 1,501 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. Banque Internationale Arabe de Tunisie's current Piotroski F-Score of 8 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 Banque Internationale Arabe de Tunisie and its competitors. For the Banks 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. Banque Internationale Arabe de Tunisie's current Piotroski F-Score is 8, which is 60% above 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 Banque Internationale Arabe de Tunisie stock overvalued right now?
Based on GuruFocus' analysis, Banque Internationale Arabe de Tunisie (XTUN:BIAT) is currently considered Significantly Overvalued. The stock's GF Value™ is TND104.70, compared to a current price of TND157.40 — trading 50.3% above its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 33.3% above the Banks industry median of 6.00. Banque Internationale Arabe de Tunisie's overall GF Score™ is 63/100 with 7 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 Banque Internationale Arabe de Tunisie (XTUN:BIAT), the current Piotroski F-Score is 8 as of Jun. 28, 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 Banque Internationale Arabe de Tunisie (XTUN:BIAT) Overvalued in 2026?
Based on GuruFocus' analysis, Banque Internationale Arabe de Tunisie stock appears to be overvalued.
The current stock price of TND157.40 is trading 50.3% above its estimated GF Value™ of TND104.70.
GuruFocus considers Banque Internationale Arabe de Tunisie to be Significantly Overvalued.
Key valuation signals for XTUN:BIAT:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: TND104.70 vs. price of TND157.40 (50.3% above fair value)
Industry Position: 33.3% above the Banks median (#109 of 1501)
No single metric tells the full story. See the XTUN:BIAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Banque Internationale Arabe de Tunisie Business Description
Banque Internationale Arabe de Tunisie SA is a Tunisia-based banking services provider. The crux of its operations involves Retail Banking and Funding and Investment Banking Business. Under the Retail Banking umbrella, it provides deposit products and loans to individuals, and institutions in agriculture and fishing, industry, construction, olive oil, trading, tourism, transport, telecom, service, and other sectors. The Investment Banking services include corporate finance, venture capital, a securities portfolio and financial holdings management, asset management, and debt recovery. The bank generates a majority of its revenue in the form of interest income.
63GF Score
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