Fujairah Building Industries PJSC (ADX:FBI) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is Fujairah Building Industries PJSC Beneish M-Score?

Fujairah Building Industries PJSC ADX:FBI 10 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates ADX:FBI with a GF Score™ of 10/100.

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.

The historical rank and industry rank for Fujairah Building Industries PJSC's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Fujairah Building Industries PJSC was 0.00. The lowest was 0.00. And the median was 0.00.

Fujairah Building Industries PJSC Beneish M-Score Related Terms

Fujairah Building Industries PJSC Beneish M-Score Historical Data

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The historical data trend for Fujairah Building Industries PJSC'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.

Fujairah Building Industries PJSC Beneish M-Score Chart

Fujairah Building Industries PJSC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.20

-2.52

-2.65

-2.62

Fujairah Building Industries PJSC Semi-Annual Data
	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23
Beneish M-Score	Get a 7-Day Free Trial													-3.20	-2.52	-2.65	-2.65	-2.62

ADX:FBI vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Fujairah Building Industries PJSC'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.

Fujairah Building Industries PJSC Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Fujairah Building Industries PJSC's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Fujairah Building Industries PJSC's Beneish M-Score falls into.

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Fujairah Building Industries PJSC ADX:FBI

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Fujairah Building Industries PJSC 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 Fujairah Building Industries PJSC for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0171

0.528 * 0.9881

0.404 * 1.1097

0.892 * 1.0464

0.115 * 0.917

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9689

4.679 * -0.047892

0.327 * 1.0362

-2.62

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was د.إ55.6 Mil.
Revenue was د.إ179.4 Mil.
Gross Profit was د.إ64.5 Mil.
Total Current Assets was د.إ201.9 Mil.
Total Assets was د.إ397.7 Mil.
Property, Plant and Equipment(Net PPE) was د.إ135.2 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ25.2 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ15.3 Mil.
Total Current Liabilities was د.إ37.3 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ38.3 Mil.
Net Income was د.إ18.0 Mil.
Gross Profit was د.إ0.0 Mil.
Cash Flow from Operations was د.إ37.0 Mil.

Total Receivables was د.إ52.2 Mil.
Revenue was د.إ171.4 Mil.
Gross Profit was د.إ60.9 Mil.
Total Current Assets was د.إ207.8 Mil.
Total Assets was د.إ418.6 Mil.
Property, Plant and Equipment(Net PPE) was د.إ153.2 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ25.8 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ15.1 Mil.
Total Current Liabilities was د.إ33.9 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ42.9 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)
	=	(55.58 / 179.381)	/	(52.223 / 171.429)
	=	0.309843	/	0.304633
	=	1.0171

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)
	=	(60.89 / 171.429)	/	(64.483 / 179.381)
	=	0.355191	/	0.359475
	=	0.9881

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 - (201.876 + 135.223) / 397.729)	/	(1 - (207.823 + 153.244) / 418.567)
	=	0.15244	/	0.137373
	=	1.1097

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
	=	179.381	/	171.429
	=	1.0464

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))
	=	(25.822 / (25.822 + 153.244))	/	(25.233 / (25.233 + 135.223))
	=	0.144204	/	0.157258
	=	0.917

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)
	=	(15.278 / 179.381)	/	(15.07 / 171.429)
	=	0.085171	/	0.087908
	=	0.9689

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)
	=	((38.331 + 37.32) / 397.729)	/	((42.894 + 33.941) / 418.567)
	=	0.190207	/	0.183567
	=	1.0362

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
	=	(17.968 - 0	-	37.016)	/	397.729
	=	-0.047892

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.

Fujairah Building Industries PJSC has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Fujairah Building Industries PJSC (ADX:FBI) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fujairah Building Industries PJSC and its competitors.

Is Fujairah Building Industries PJSC's Beneish M-Score too high?

Fujairah Building Industries PJSC's current Beneish M-Score is 0.00. Overall, Fujairah Building Industries PJSC has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.

How does Fujairah Building Industries PJSC's Beneish M-Score compare to TT and JCI?

Fujairah Building Industries PJSC's Beneish M-Score of 0.00 can be compared against companies in the Construction 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Fujairah Building Industries PJSC and its competitors. Fujairah Building Industries PJSC's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Fujairah Building Industries PJSC stock overvalued right now?

Fujairah Building Industries PJSC (ADX:FBI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Fujairah Building Industries PJSC's overall GF Score™ is 10/100. 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 Fujairah Building Industries PJSC (ADX:FBI), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Fujairah Building Industries PJSC Business Description

Industry Industrials Construction

Comparable Companies DFM:DSI TT JCI CARR XPAR:SGO TSE:6367 XSWX:GEBN LII CSL MAS BLDR DUB:KRX XSWX:BEAN OC WMS SPXC AWI OSTO:NIBE B OCSE:ROCK A FBIN

Address Al Hayl Industrial Area, P.O. Box 383, Fujairah, ARE

Website https://www.fujfbi.ae

Fujairah Building Industries PJSC is engaged in the construction sector. The products of the company are Concrete products, Rockwool products, Quarry products, and Marbles and tiles. Geographically, the company derives maximum revenue from UAE.

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د.إ3.15

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