Injaz For Development And Projects (AMM:ATCO) Beneish M-Score: -2.42 (As of Aug. 19, 2026)

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AMM:ATCO Injaz For Development And Projects AMM:ATCO
33 GF Score
Price JOD0.54
GF Value JOD0.46
Valuation Modestly Overvalued
! 7 Warning Signs
View Full Analysis

What is Injaz For Development And Projects Beneish M-Score?

Injaz For Development And Projects AMM:ATCO 33 Beneish M-Score is -2.42 as of Aug. 19, 2026. GuruFocus rates AMM:ATCO with a GF Score™ of 33/100 and a GF Value™ of JOD0.46 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,677 Real Estate companies, Injaz For Development And Projects ranks better than 54.03% on this metric.

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 -2.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Injaz For Development And Projects's Beneish M-Score or its related term are showing as below:

AMM:ATCO' s Beneish M-Score Range Over the Past 10 Years
Min: -4.93   Med: -2.31   Max: 5.88
Current: -2.42

During the past 13 years, the highest Beneish M-Score of Injaz For Development And Projects was 5.88. The lowest was -4.93. And the median was -2.31.

Injaz For Development And Projects Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Injaz For Development And Projects'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.

Injaz For Development And Projects Beneish M-Score Chart

Injaz For Development And Projects Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.75 -2.31 -0.12 -2.63 -2.49

Injaz For Development And Projects Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.20 -2.96 -2.49 -2.62 -2.42

AMM:ATCO vs CBRE, BEKE, JLL: Beneish M-Score Comparison

For the Real Estate Services subindustry, Injaz For Development And Projects'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.

Injaz For Development And Projects Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Injaz For Development And Projects's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Injaz For Development And Projects's Beneish M-Score falls into.


AMM:ATCO
33GF Score
Injaz For Development And Projects AMM:ATCO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Injaz For Development And Projects 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 Injaz For Development And Projects 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 * 0.4876+0.528 * 1.2977+0.404 * 1.11+0.892 * 1.8201+0.115 * 0.8678
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.691+4.679 * -0.059325-0.327 * 0.9609
=-2.42

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was JOD55.58 Mil.
Revenue was 8.709 + 8.715 + 35.795 + 13.3 = JOD66.52 Mil.
Gross Profit was 0.352 + 0.57 + 1.765 + 0.393 = JOD3.08 Mil.
Total Current Assets was JOD62.88 Mil.
Total Assets was JOD115.40 Mil.
Property, Plant and Equipment(Net PPE) was JOD23.38 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.22 Mil.
Selling, General, & Admin. Expense(SGA) was JOD0.67 Mil.
Total Current Liabilities was JOD39.13 Mil.
Long-Term Debt & Capital Lease Obligation was JOD33.36 Mil.
Net Income was 0.061 + 0.056 + 0.628 + -0.049 = JOD0.70 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JOD0.00 Mil.
Cash Flow from Operations was -1.888 + 2.131 + 7.907 + -0.608 = JOD7.54 Mil.
 Total Receivables was JOD62.63 Mil.
Revenue was 7.004 + 8.347 + 13.285 + 7.91 = JOD36.55 Mil.
Gross Profit was 0.142 + 0.353 + 1.132 + 0.569 = JOD2.20 Mil.
Total Current Assets was JOD69.58 Mil.
Total Assets was JOD120.96 Mil.
Property, Plant and Equipment(Net PPE) was JOD23.87 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.19 Mil.
Selling, General, & Admin. Expense(SGA) was JOD0.22 Mil.
Total Current Liabilities was JOD49.81 Mil.
Long-Term Debt & Capital Lease Obligation was JOD29.26 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)
=(55.583 / 66.519) / (62.625 / 36.546)
=0.835596 / 1.713594
=0.4876

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)
=(2.196 / 36.546) / (3.08 / 66.519)
=0.060089 / 0.046303
=1.2977

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 - (62.884 + 23.381) / 115.399) / (1 - (69.58 + 23.867) / 120.957)
=0.252463 / 0.227436
=1.11

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
=66.519 / 36.546
=1.8201

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))
=(0.192 / (0.192 + 23.867)) / (0.217 / (0.217 + 23.381))
=0.00798 / 0.009196
=0.8678

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)
=(0.671 / 66.519) / (0.218 / 36.546)
=0.010087 / 0.005965
=1.691

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)
=((33.361 + 39.126) / 115.399) / ((29.255 + 49.812) / 120.957)
=0.628142 / 0.653679
=0.9609

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
=(0.696 - 0 - 7.542) / 115.399
=-0.059325

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.

Injaz For Development And Projects has a M-score of -2.42 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 -2.42 mean?
Injaz For Development And Projects (AMM:ATCO) has a Beneish M-Score of -2.42 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Injaz For Development And Projects and its competitors. According to the industry distribution chart, Injaz For Development And Projects ranks #771 out of 1677 companies in the Real Estate industry, placing it in the top 46%.
Is Injaz For Development And Projects' Beneish M-Score too high?
Injaz For Development And Projects' current Beneish M-Score is -2.42. Based on the distribution chart, Injaz For Development And Projects ranks #771 out of 1677 companies in the Real Estate industry, which is above the industry midpoint. Overall, Injaz For Development And Projects has a GF Score™ of 33/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Injaz For Development And Projects' Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Injaz For Development And Projects ranks #771 out of 1677 companies for Beneish M-Score. This puts Injaz For Development And Projects 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Injaz For Development And Projects and its competitors. Injaz For Development And Projects's current Beneish M-Score is -2.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Injaz For Development And Projects stock overvalued right now?
Based on GuruFocus' analysis, Injaz For Development And Projects (AMM:ATCO) is currently considered Modestly Overvalued. The stock's GF Value™ is JOD0.46, compared to a current price of JOD0.54 — trading 17.4% above its estimated fair value. The current Beneish M-Score is -2.42. Injaz For Development And Projects' overall GF Score™ is 33/100 with 7 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 Injaz For Development And Projects (AMM:ATCO), the current Beneish M-Score is -2.42 as of Aug. 19, 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 Injaz For Development And Projects (AMM:ATCO) Overvalued in 2026?

Based on GuruFocus' analysis, Injaz For Development And Projects stock appears to be overvalued. The current stock price of JOD0.54 is trading 17.4% above its estimated GF Value™ of JOD0.46. GuruFocus considers Injaz For Development And Projects to be Modestly Overvalued.

Key valuation signals for AMM:ATCO:

  • Beneish M-Score: -2.42
  • GF Value™: JOD0.46 vs. price of JOD0.54 (17.4% above fair value)
  • GF Score™: 33/100 with 7 warning signs

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

Injaz For Development And Projects Business Description

Address Al Shahid Wasfi Al Tal Street (Gardens, P.O Box 910776 , Yathreb Commercial Complex, Building No. 41 - 1st Floor, Office No. 5, Amman, JOR, 11191
Injaz For Development And Projects is engaged in purchasing lands, real estate development, and trading it as well as investing in shares and bonds. The company operates only in the Hashemite Kingdom of Jordan.
33GF Score

Get the complete analysis for AMM:ATCO

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

JOD0.54
Price
JOD0.46
GF Value