The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Abu Dhabi Aviation Co's Beneish M-Score or its related term are showing as below:
ADX:ADAVIATION'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.06 Med: -2.22 Max: 26.42
Current: -2.75
During the past 13 years, the highest Beneish M-Score of Abu Dhabi Aviation Co was 26.42. The lowest was -3.06. And the median was -2.22.
Abu Dhabi Aviation Co Beneish M-Score Related Terms
Abu Dhabi Aviation Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Abu Dhabi Aviation Co's Beneish M-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.
ADX:ADAVIATION vs JOBY: Beneish M-Score Comparison
For the Airports & Air Services subindustry, Abu Dhabi Aviation Co's Beneish M-Score, along with its competitors' market caps and Beneish M-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.
Abu Dhabi Aviation Co Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Abu Dhabi Aviation Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Abu Dhabi Aviation Co's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Abu Dhabi Aviation Co for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.741
+
0.528 * 0.7359
+
0.404 * 1.6258
+
0.892 * 1.1148
+
0.115 * 0.8051
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.9232
+
4.679 * -0.019639
-
0.327 * 0.918
=
-2.75
* 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.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(99.582 / (99.582 + 2465.917))
/
(139.468 / (139.468 + 2753.183))
=
0.038816
/
0.048215
=
0.8051
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(861.374 - 0
-
1177.125)
/
16077.776
=
-0.019639
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Abu Dhabi Aviation Co has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
Abu Dhabi Aviation Co (ADX:ADAVIATION) has a Beneish M-Score of -2.75 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Abu Dhabi Aviation Co and its competitors. According to the industry distribution chart, Abu Dhabi Aviation Co ranks #333 out of 966 companies in the Transportation industry, placing it in the top 34.5%.
Is Abu Dhabi Aviation Co's Beneish M-Score too high?
Abu Dhabi Aviation Co's current Beneish M-Score is -2.75. Based on the distribution chart, Abu Dhabi Aviation Co ranks #333 out of 966 companies in the Transportation industry, which is above the industry midpoint. Overall, Abu Dhabi Aviation Co has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Abu Dhabi Aviation Co's Beneish M-Score compare to JOBY?
According to the Transportation industry distribution chart, Abu Dhabi Aviation Co ranks #333 out of 966 companies for Beneish M-Score. This puts Abu Dhabi Aviation Co in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Transportation company?
A good Beneish M-Score depends on the Transportation industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Abu Dhabi Aviation Co and its competitors. Abu Dhabi Aviation Co's current Beneish M-Score is -2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Abu Dhabi Aviation Co stock overvalued right now?
Based on GuruFocus' analysis, Abu Dhabi Aviation Co (ADX:ADAVIATION) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ6.05, compared to a current price of د.إ5.17 — trading 14.5% below its estimated fair value. The current Beneish M-Score is -2.75. Abu Dhabi Aviation Co's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Abu Dhabi Aviation Co (ADX:ADAVIATION), the current Beneish M-Score is -2.75 as of Jun. 27, 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 Abu Dhabi Aviation Co (ADX:ADAVIATION) Overvalued in 2026?
Based on GuruFocus' analysis, Abu Dhabi Aviation Co stock appears to be undervalued.
The current stock price of د.إ5.17 is trading 14.5% below its estimated GF Value™ of د.إ6.05.
GuruFocus considers Abu Dhabi Aviation Co to be Modestly Undervalued.
Key valuation signals for ADX:ADAVIATION:
Beneish M-Score: -2.75
GF Value™: د.إ6.05 vs. price of د.إ5.17 (14.5% below fair value)
No single metric tells the full story. See the ADX:ADAVIATION stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Abu Dhabi Aviation Co is engaged in the provision of maintenance, repair, and overhaul (MRO) services for fixed-wing, rotary-wing, and military aircraft. The company also provides professional and technical support services, owns and operates helicopters and fixed-wing aircraft, undertakes charter and commercial air cargo operations, and trades in aircraft spare parts, and accessories, both within and outside the United Arab Emirates. Its reporting segments are: i) General aviation, ii) Maintenance, repair and overhauls (MRO), iii) Investments. The majority of revenue is derived from the Maintenance, repair and overhauls (MRO) segment, which provides routine inspections, repairs, overhauls, and modifications, among other similar services.
73GF Score
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