Hayat Pharmaceutical Industries Co (AMM:HPIC) Beneish M-Score: -3.05 (As of Jun. 25, 2026)


AMM:HPIC Hayat Pharmaceutical Industries Co AMM:HPIC
79 GF Score
Price JOD3.12
GF Value JOD2.74
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Hayat Pharmaceutical Industries Co Beneish M-Score?

Hayat Pharmaceutical Industries Co AMM:HPIC 79 Beneish M-Score is -3.05 as of Jun. 25, 2026. GuruFocus rates AMM:HPIC with a GF Score™ of 79/100 and a GF Value™ of JOD2.74 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 911 Drug Manufacturers companies, Hayat Pharmaceutical Industries Co ranks better than 84.63% 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 -3.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Hayat Pharmaceutical Industries Co's Beneish M-Score or its related term are showing as below:

AMM:HPIC' s Beneish M-Score Range Over the Past 10 Years
Min: -3.38   Med: -2.5   Max: -1.43
Current: -3.05

During the past 13 years, the highest Beneish M-Score of Hayat Pharmaceutical Industries Co was -1.43. The lowest was -3.38. And the median was -2.50.

Hayat Pharmaceutical Industries Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hayat Pharmaceutical Industries 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.

Hayat Pharmaceutical Industries Co Beneish M-Score Chart

Hayat Pharmaceutical Industries Co 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 0.00 0.00 -2.12 -2.42 -2.65

Hayat Pharmaceutical Industries Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -2.50 -2.67 -2.42 -2.65 -3.05

AMM:HPIC vs ZTS, UTHR, VTRS: Beneish M-Score Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Hayat Pharmaceutical Industries 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.

Hayat Pharmaceutical Industries Co Beneish M-Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Hayat Pharmaceutical Industries Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hayat Pharmaceutical Industries Co's Beneish M-Score falls into.


AMM:HPIC
79GF Score
Hayat Pharmaceutical Industries Co AMM:HPIC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hayat Pharmaceutical Industries Co 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 Hayat Pharmaceutical Industries 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 * 0.938+0.528 * 0.9435+0.404 * 0.9878+0.892 * 0.9597+0.115 * 0.976
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2506+4.679 * -0.08256-0.327 * 1.0259
=-3.05

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was JOD11.45 Mil.
Revenue was 2.021 + 5.209 + 5.715 + 3.371 = JOD16.32 Mil.
Gross Profit was 1.077 + 2.942 + 3.605 + 1.989 = JOD9.61 Mil.
Total Current Assets was JOD25.06 Mil.
Total Assets was JOD38.68 Mil.
Property, Plant and Equipment(Net PPE) was JOD13.37 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.32 Mil.
Selling, General, & Admin. Expense(SGA) was JOD4.31 Mil.
Total Current Liabilities was JOD4.35 Mil.
Long-Term Debt & Capital Lease Obligation was JOD3.11 Mil.
Net Income was 0.153 + 0.896 + 0.545 + 0.354 = JOD1.95 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JOD0.00 Mil.
Cash Flow from Operations was 0.963 + 1.602 + 0.191 + 2.385 = JOD5.14 Mil.
 Total Receivables was JOD12.72 Mil.
Revenue was 2.813 + 5.785 + 4.236 + 4.167 = JOD17.00 Mil.
Gross Profit was 1.554 + 3.507 + 2.031 + 2.359 = JOD9.45 Mil.
Total Current Assets was JOD24.96 Mil.
Total Assets was JOD38.52 Mil.
Property, Plant and Equipment(Net PPE) was JOD13.32 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.31 Mil.
Selling, General, & Admin. Expense(SGA) was JOD3.59 Mil.
Total Current Liabilities was JOD3.53 Mil.
Long-Term Debt & Capital Lease Obligation was JOD3.72 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)
=(11.451 / 16.316) / (12.721 / 17.001)
=0.701826 / 0.74825
=0.938

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)
=(9.451 / 17.001) / (9.613 / 16.316)
=0.555908 / 0.589176
=0.9435

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 - (25.064 + 13.37) / 38.675) / (1 - (24.96 + 13.318) / 38.521)
=0.006231 / 0.006308
=0.9878

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
=16.316 / 17.001
=0.9597

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))
=(0.308 / (0.308 + 13.318)) / (0.317 / (0.317 + 13.37))
=0.022604 / 0.023161
=0.976

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)
=(4.311 / 16.316) / (3.592 / 17.001)
=0.264219 / 0.211282
=1.2506

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)
=((3.113 + 4.346) / 38.675) / ((3.716 + 3.526) / 38.521)
=0.192864 / 0.188001
=1.0259

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
=(1.948 - 0 - 5.141) / 38.675
=-0.08256

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.

Hayat Pharmaceutical Industries Co has a M-score of -3.05 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 -3.05 mean?
Hayat Pharmaceutical Industries Co (AMM:HPIC) has a Beneish M-Score of -3.05 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hayat Pharmaceutical Industries Co and its competitors. According to the industry distribution chart, Hayat Pharmaceutical Industries Co ranks #140 out of 911 companies in the Drug Manufacturers industry, placing it in the top 15.4%.
Is Hayat Pharmaceutical Industries Co's Beneish M-Score too high?
Hayat Pharmaceutical Industries Co's current Beneish M-Score is -3.05. Based on the distribution chart, Hayat Pharmaceutical Industries Co ranks #140 out of 911 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, Hayat Pharmaceutical Industries Co has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hayat Pharmaceutical Industries Co's Beneish M-Score compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Hayat Pharmaceutical Industries Co ranks #140 out of 911 companies for Beneish M-Score. This places Hayat Pharmaceutical Industries Co in the top 15% of its industry — outperforming the majority of peers. 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 Drug Manufacturers company?
A good Beneish M-Score depends on the Drug Manufacturers 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 Hayat Pharmaceutical Industries Co and its competitors. Hayat Pharmaceutical Industries Co's current Beneish M-Score is -3.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hayat Pharmaceutical Industries Co stock overvalued right now?
Based on GuruFocus' analysis, Hayat Pharmaceutical Industries Co (AMM:HPIC) is currently considered Modestly Overvalued. The stock's GF Value™ is JOD2.74, compared to a current price of JOD3.12 — trading 13.9% above its estimated fair value. The current Beneish M-Score is -3.05. Hayat Pharmaceutical Industries Co's overall GF Score™ is 79/100 with 6 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 Hayat Pharmaceutical Industries Co (AMM:HPIC), the current Beneish M-Score is -3.05 as of Jun. 25, 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 Hayat Pharmaceutical Industries Co (AMM:HPIC) Overvalued in 2026?

Based on GuruFocus' analysis, Hayat Pharmaceutical Industries Co stock appears to be overvalued. The current stock price of JOD3.12 is trading 13.9% above its estimated GF Value™ of JOD2.74. GuruFocus considers Hayat Pharmaceutical Industries Co to be Modestly Overvalued.

Key valuation signals for AMM:HPIC:

  • Beneish M-Score: -3.05
  • GF Value™: JOD2.74 vs. price of JOD3.12 (13.9% above fair value)
  • GF Score™: 79/100 with 6 warning signs

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

Hayat Pharmaceutical Industries Co Business Description

Address Mohammed Ali Alkurdi St. Al-Rajeeb Amman, 1564 Amman, Amman, JOR, 11118
Hayat Pharmaceutical Industries Co is a Jordan based pharmaceutical manufacturing company. The princapal activity is producing human and veterinary medicines in all its forms and medical stickers and stockings, in addition to the production of medical supplies, body care lotions, cosmetics, sutures and initiating marketing campgains as well as import and export operations. Its products include Cardiovascular system, Infectious disease, Dermatology, Gastrointestinal system, Inner Ear & Balance, Men's Health, Neurology, Vitamins & Supplements, Women's Health, and Respiratory system. The operations business operating within one geographic sector which is the Hashemite Kingdom of Jordan.
79GF Score

Get the complete analysis for AMM:HPIC

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

JOD3.12
Price
JOD2.74
GF Value