Shira Real Estate Development & Investment (AMM:SHRA) Beneish M-Score: 7.93 (As of Jun. 30, 2026)


AMM:SHRA Shira Real Estate Development & Investment PLC AMM:SHRA
37 GF Score
Price JOD0.38
GF Value JOD0.53
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Shira Real Estate Development & Investment Beneish M-Score?

Shira Real Estate Development & Investment AMM:SHRA 37 Beneish M-Score is 7.93 as of Jun. 30, 2026. GuruFocus rates AMM:SHRA with a GF Score™ of 37/100 and a GF Value™ of JOD0.53 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,684 Real Estate companies, Shira Real Estate Development & Investment ranks worse than 96.97% 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.

Warning Sign:

Beneish M-Score 7.93 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Shira Real Estate Development & Investment's Beneish M-Score or its related term are showing as below:

AMM:SHRA' s Beneish M-Score Range Over the Past 10 Years
Min: -61.87   Med: -1.96   Max: 159.47
Current: 7.93

During the past 13 years, the highest Beneish M-Score of Shira Real Estate Development & Investment was 159.47. The lowest was -61.87. And the median was -1.96.

Shira Real Estate Development & Investment Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shira Real Estate Development & Investment'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.

Shira Real Estate Development & Investment Beneish M-Score Chart

Shira Real Estate Development & Investment 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 129.87 -5.03 -1.96 9.73 -2.07

Shira Real Estate Development & Investment 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 -2.36 34.29 -1.19 -2.07 7.93

Shira Real Estate Development & Investment Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Shira Real Estate Development & Investment'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.

Shira Real Estate Development & Investment Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Shira Real Estate Development & Investment's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Shira Real Estate Development & Investment's Beneish M-Score falls into.


AMM:SHRA
37GF Score
Shira Real Estate Development & Investment PLC AMM:SHRA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Shira Real Estate Development & Investment 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 Shira Real Estate Development & Investment 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 * 0.8023+0.404 * 0.3343+0.892 * 2.2203+0.115 * 88.8573
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5036+4.679 * 0.001466-0.327 * 2.5281
=7.93

* 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 JOD5.23 Mil.
Revenue was 2.517 + 4.144 + 2.141 + 6.105 = JOD14.91 Mil.
Gross Profit was 0.194 + 0.378 + 0.763 + 0.497 = JOD1.83 Mil.
Total Current Assets was JOD18.74 Mil.
Total Assets was JOD80.51 Mil.
Property, Plant and Equipment(Net PPE) was JOD40.85 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.47 Mil.
Selling, General, & Admin. Expense(SGA) was JOD1.14 Mil.
Total Current Liabilities was JOD18.82 Mil.
Long-Term Debt & Capital Lease Obligation was JOD18.69 Mil.
Net Income was -0.018 + -0.206 + -0.091 + -0.159 = JOD-0.47 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JOD0.00 Mil.
Cash Flow from Operations was 2.105 + 0.668 + 300.912 + -304.277 = JOD-0.59 Mil.
 Total Receivables was JOD0.00 Mil.
Revenue was 0.753 + 1.007 + 4.054 + 0.9 = JOD6.71 Mil.
Gross Profit was 0.076 + -0.733 + 1.124 + 0.195 = JOD0.66 Mil.
Total Current Assets was JOD16.59 Mil.
Total Assets was JOD74.45 Mil.
Property, Plant and Equipment(Net PPE) was JOD0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.51 Mil.
Selling, General, & Admin. Expense(SGA) was JOD1.02 Mil.
Total Current Liabilities was JOD13.72 Mil.
Long-Term Debt & Capital Lease Obligation was JOD0.00 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)
=(5.228 / 14.907) / (0 / 6.714)
=0.350708 / 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)
=(0.662 / 6.714) / (1.832 / 14.907)
=0.0986 / 0.122895
=0.8023

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 - (18.739 + 40.854) / 80.511) / (1 - (16.586 + 0) / 74.447)
=0.259815 / 0.777211
=0.3343

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
=14.907 / 6.714
=2.2203

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))
=(0.506 / (0.506 + 0)) / (0.465 / (0.465 + 40.854))
=1 / 0.011254
=88.8573

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)
=(1.135 / 14.907) / (1.015 / 6.714)
=0.076139 / 0.151177
=0.5036

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)
=((18.687 + 18.818) / 80.511) / ((0 + 13.718) / 74.447)
=0.465837 / 0.184265
=2.5281

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
=(-0.474 - 0 - -0.592) / 80.511
=0.001466

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.

Shira Real Estate Development & Investment has a M-score of 7.93 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 7.93 mean?
Shira Real Estate Development & Investment (AMM:SHRA) has a Beneish M-Score of 7.93 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shira Real Estate Development & Investment and its competitors. According to the industry distribution chart, Shira Real Estate Development & Investment ranks #1633 out of 1684 companies in the Real Estate industry, placing it in the top 97%.
Is Shira Real Estate Development & Investment's Beneish M-Score too high?
Shira Real Estate Development & Investment's current Beneish M-Score is 7.93. Based on the distribution chart, Shira Real Estate Development & Investment ranks #1633 out of 1684 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Shira Real Estate Development & Investment has a GF Score™ of 37/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shira Real Estate Development & Investment's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Shira Real Estate Development & Investment ranks #1633 out of 1684 companies for Beneish M-Score. This places Shira Real Estate Development & Investment 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 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 Shira Real Estate Development & Investment and its competitors. Shira Real Estate Development & Investment's current Beneish M-Score is 7.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shira Real Estate Development & Investment stock overvalued right now?
Based on GuruFocus' analysis, Shira Real Estate Development & Investment (AMM:SHRA) is currently considered Modestly Undervalued. The stock's GF Value™ is JOD0.53, compared to a current price of JOD0.38 — trading 28.3% below its estimated fair value. The current Beneish M-Score is 7.93. Shira Real Estate Development & Investment's overall GF Score™ is 37/100 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 Shira Real Estate Development & Investment (AMM:SHRA), the current Beneish M-Score is 7.93 as of Jun. 30, 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 Shira Real Estate Development & Investment (AMM:SHRA) Overvalued in 2026?

Based on GuruFocus' analysis, Shira Real Estate Development & Investment stock appears to be undervalued. The current stock price of JOD0.38 is trading 28.3% below its estimated GF Value™ of JOD0.53. GuruFocus considers Shira Real Estate Development & Investment to be Modestly Undervalued.

Key valuation signals for AMM:SHRA:

  • Beneish M-Score: 7.93
  • GF Value™: JOD0.53 vs. price of JOD0.38 (28.3% below fair value)
  • GF Score™: 37/100 with 3 warning signs

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

Shira Real Estate Development & Investment Business Description

Address Al Madina El Monawara, Building No. 269, 5th Floor, P.O. Box 2721, Noor Commercial Complex, Amman, JOR, 11821
Shira Real Estate Development & Investment PLC is engaged in the business of building and selling housing projects, and purchasing lands and real estate for the purpose of trading them.
37GF Score

Get the complete analysis for AMM:SHRA

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

JOD0.38
Price
JOD0.53
GF Value