Bank of Sharjah PSC (ADX:BOS) Beneish M-Score: -1.71 (As of Jun. 27, 2026)


ADX:BOS Bank of Sharjah PSC ADX:BOS
30 GF Score
Price د.إ1.20
GF Value د.إ1.56
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Bank of Sharjah PSC Beneish M-Score?

Bank of Sharjah PSC ADX:BOS 30 Beneish M-Score is -1.71 as of Jun. 27, 2026. GuruFocus rates ADX:BOS with a GF Score™ of 30/100 and a GF Value™ of د.إ1.56 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,397 Banks companies, Bank of Sharjah PSC ranks worse than 94.99% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score -1.71 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Bank of Sharjah PSC's Beneish M-Score or its related term are showing as below:

ADX:BOS' s Beneish M-Score Range Over the Past 10 Years
Min: -4.1   Med: -2.45   Max: 0.19
Current: -1.71

During the past 13 years, the highest Beneish M-Score of Bank of Sharjah PSC was 0.19. The lowest was -4.10. And the median was -2.45.

ADX:BOS
30GF Score
Bank of Sharjah PSC ADX:BOS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bank of Sharjah PSC Beneish M-Score Calculation

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 Bank of Sharjah PSC 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 * 1+0.528 * 1+0.404 * 1.0011+0.892 * 1.5863+0.115 * 0.8179
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.081794-0.327 * 1.363
=-1.71

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was د.إ0 Mil.
Revenue was د.إ1,143 Mil.
Gross Profit was د.إ1,143 Mil.
Total Current Assets was د.إ0 Mil.
Total Assets was د.إ48,371 Mil.
Property, Plant and Equipment(Net PPE) was د.إ157 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ22 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ0 Mil.
Total Current Liabilities was د.إ0 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ5,473 Mil.
Net Income was د.إ729 Mil.
Gross Profit was د.إ0 Mil.
Cash Flow from Operations was د.إ-3,227 Mil.
 Total Receivables was د.إ0 Mil.
Revenue was د.إ721 Mil.
Gross Profit was د.إ721 Mil.
Total Current Assets was د.إ0 Mil.
Total Assets was د.إ43,583 Mil.
Property, Plant and Equipment(Net PPE) was د.إ191 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ21 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ0 Mil.
Total Current Liabilities was د.إ0 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ3,618 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0 / 1143.471) / (0 / 720.847)
=0 / 0
=1

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(720.847 / 720.847) / (1143.471 / 1143.471)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 157.188) / 48371.413) / (1 - (0 + 190.932) / 43582.972)
=0.99675 / 0.995619
=1.0011

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=1143.471 / 720.847
=1.5863

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(21.068 / (21.068 + 190.932)) / (21.739 / (21.739 + 157.188))
=0.099377 / 0.121496
=0.8179

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 1143.471) / (0 / 720.847)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((5473.409 + 0) / 48371.413) / ((3618.176 + 0) / 43582.972)
=0.113154 / 0.083018
=1.363

8. TATA = Total Accruals to Total Assets

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
=(729.404 - 0 - -3227.096) / 48371.413
=0.081794

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.

Bank of Sharjah PSC has a M-score of -1.71 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.71 mean?
Bank of Sharjah PSC (ADX:BOS) has a Beneish M-Score of -1.71 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bank of Sharjah PSC and its competitors. According to the industry distribution chart, Bank of Sharjah PSC ranks #1327 out of 1397 companies in the Banks industry, placing it in the top 95%.
Is Bank of Sharjah PSC's Beneish M-Score too high?
Bank of Sharjah PSC's current Beneish M-Score is -1.71. Based on the distribution chart, Bank of Sharjah PSC ranks #1327 out of 1397 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Bank of Sharjah PSC has a GF Score™ of 30/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bank of Sharjah PSC's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Bank of Sharjah PSC ranks #1327 out of 1397 companies for Beneish M-Score. This places Bank of Sharjah PSC in the lower 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Bank of Sharjah PSC and its competitors. Bank of Sharjah PSC's current Beneish M-Score is -1.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bank of Sharjah PSC stock overvalued right now?
Based on GuruFocus' analysis, Bank of Sharjah PSC (ADX:BOS) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.56, compared to a current price of د.إ1.20 — trading 23.1% below its estimated fair value. The current Beneish M-Score is -1.71. Bank of Sharjah PSC's overall GF Score™ is 30/100 with 3 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 Bank of Sharjah PSC (ADX:BOS), the current Beneish M-Score is -1.71 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 Bank of Sharjah PSC (ADX:BOS) Overvalued in 2026?

Based on GuruFocus' analysis, Bank of Sharjah PSC stock appears to be undervalued. The current stock price of د.إ1.20 is trading 23.1% below its estimated GF Value™ of د.إ1.56. GuruFocus considers Bank of Sharjah PSC to be Modestly Undervalued.

Key valuation signals for ADX:BOS:

  • Beneish M-Score: -1.71
  • GF Value™: د.إ1.56 vs. price of د.إ1.20 (23.1% below fair value)
  • GF Score™: 30/100 with 3 warning signs

No single metric tells the full story. See the ADX:BOS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Bank of Sharjah PSC Business Description

Address Al Khan Road, P.O. Box 1394, Sharjah, ARE
Bank of Sharjah PSC provides commercial and investment banking services. It operates through eight branches in the United Arab Emirates located in the Emirates of Sharjah, Dubai, Abu Dhabi, and the City of Al Ain. It is organized into two segments namely, Commercial Banking and Investment banking. The company provides loans and other credit facilities, deposits and current accounts for corporate, government, institutional and individual customers. It earns a majority of its revenue from commercial banking services.
30GF Score

Get the complete analysis for ADX:BOS

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

د.إ1.20
Price
د.إ1.56
GF Value