Bahrain Commercial Facilities Co BSC (BAH:BCFC) Beneish M-Score: -2.45 (As of Jun. 27, 2026)


What is Bahrain Commercial Facilities Co BSC Beneish M-Score?

Bahrain Commercial Facilities Co BSC BAH:BCFC Beneish M-Score is -2.45 as of Jun. 27, 2026. The stock has 3 warning signs investors should review. Among 483 Credit Services companies, Bahrain Commercial Facilities Co BSC ranks better than 65.01% 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.

Good Sign:

Beneish M-Score -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Bahrain Commercial Facilities Co BSC's Beneish M-Score or its related term are showing as below:

BAH:BCFC' s Beneish M-Score Range Over the Past 10 Years
Min: -3.75   Med: -2.59   Max: -1.92
Current: -2.45

During the past 13 years, the highest Beneish M-Score of Bahrain Commercial Facilities Co BSC was -1.92. The lowest was -3.75. And the median was -2.59.

Bahrain Commercial Facilities Co BSC 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 Bahrain Commercial Facilities Co BSC 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 * 0.988+0.892 * 0.9889+0.115 * 1.0033
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1667+4.679 * 0.015388-0.327 * 0.9873
=-2.45

* 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 BHD0.00 Mil.
Revenue was BHD59.90 Mil.
Gross Profit was BHD59.90 Mil.
Total Current Assets was BHD0.00 Mil.
Total Assets was BHD216.40 Mil.
Property, Plant and Equipment(Net PPE) was BHD30.30 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD2.34 Mil.
Selling, General, & Admin. Expense(SGA) was BHD8.91 Mil.
Total Current Liabilities was BHD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BHD91.58 Mil.
Net Income was BHD5.08 Mil.
Gross Profit was BHD0.00 Mil.
Cash Flow from Operations was BHD1.75 Mil.
 Total Receivables was BHD0.00 Mil.
Revenue was BHD60.57 Mil.
Gross Profit was BHD60.57 Mil.
Total Current Assets was BHD0.00 Mil.
Total Assets was BHD220.80 Mil.
Property, Plant and Equipment(Net PPE) was BHD28.61 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD2.21 Mil.
Selling, General, & Admin. Expense(SGA) was BHD7.73 Mil.
Total Current Liabilities was BHD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BHD94.64 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 / 59.899) / (0 / 60.572)
=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)
=(60.572 / 60.572) / (59.899 / 59.899)
=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 + 30.296) / 216.4) / (1 - (0 + 28.613) / 220.804)
=0.86 / 0.870414
=0.988

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
=59.899 / 60.572
=0.9889

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))
=(2.214 / (2.214 + 28.613)) / (2.336 / (2.336 + 30.296))
=0.07182 / 0.071586
=1.0033

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)
=(8.913 / 59.899) / (7.725 / 60.572)
=0.1488 / 0.127534
=1.1667

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)
=((91.576 + 0) / 216.4) / ((94.643 + 0) / 220.804)
=0.423179 / 0.428629
=0.9873

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
=(5.077 - 0 - 1.747) / 216.4
=0.015388

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.

Bahrain Commercial Facilities Co BSC has a M-score of -2.45 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 -2.45 mean?
Bahrain Commercial Facilities Co BSC (BAH:BCFC) has a Beneish M-Score of -2.45 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bahrain Commercial Facilities Co BSC and its competitors. According to the industry distribution chart, Bahrain Commercial Facilities Co BSC ranks #169 out of 483 companies in the Credit Services industry, placing it in the top 35%.
Is Bahrain Commercial Facilities Co BSC's Beneish M-Score too high?
Bahrain Commercial Facilities Co BSC's current Beneish M-Score is -2.45. Based on the distribution chart, Bahrain Commercial Facilities Co BSC ranks #169 out of 483 companies in the Credit Services industry, which is above the industry midpoint.
How does Bahrain Commercial Facilities Co BSC's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Bahrain Commercial Facilities Co BSC ranks #169 out of 483 companies for Beneish M-Score. This puts Bahrain Commercial Facilities Co BSC 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Bahrain Commercial Facilities Co BSC and its competitors. Bahrain Commercial Facilities Co BSC's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bahrain Commercial Facilities Co BSC stock overvalued right now?
Based on GuruFocus' analysis, Bahrain Commercial Facilities Co BSC (BAH:BCFC) is currently considered Modestly Undervalued. The stock's GF Value™ is BHD0.26, compared to a current price of BHD0.23 — trading 10.4% below its estimated fair value. The current Beneish M-Score is -2.45. 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 Bahrain Commercial Facilities Co BSC (BAH:BCFC), the current Beneish M-Score is -2.45 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.

Bahrain Commercial Facilities Co BSC Business Description

Address Road 111, Bahrain credit Building, Buolding 290, Tubli, BHR, 701
Bahrain Commercial Facilities Co BSC provides term loans and issues credit cards. It has four operating segments, namely Lending, Automotive, Real Estate, and Insurance. The Lending segment provides consumer, Corporate, and small to medium enterprises (CSME) loans and credit card facilities; The automotive segment includes - trading in motor vehicles, spares and the provision of after-sales services and car leasing services; The real estate segment includes buying, selling and renting of properties and providing property evaluation services; and The insurance segment is involved in the provision of insurance brokerage services. The majority of its revenue is generated from the lending segment.