Bahrain Kuwait Insurance Co BSC (BAH:BKIC) Beneish M-Score: 0.00 (As of Jul. 15, 2026)

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BAH:BKIC Bahrain Kuwait Insurance Co BSC BAH:BKIC
84 GF Score
Price BHD0.42
GF Value BHD0.73
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Bahrain Kuwait Insurance Co BSC Beneish M-Score?

Bahrain Kuwait Insurance Co BSC BAH:BKIC 84 Beneish M-Score is 0.00 as of Jul. 15, 2026. GuruFocus rates BAH:BKIC with a GF Score™ of 84/100 and a GF Value™ of BHD0.73 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 398 Insurance companies, Bahrain Kuwait Insurance Co BSC ranks worse than 251256.03% 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.

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

During the past 13 years, the highest Beneish M-Score of Bahrain Kuwait Insurance Co BSC was -1.69. The lowest was -3.15. And the median was -2.56.

BAH:BKIC
84GF Score
Bahrain Kuwait Insurance Co BSC BAH:BKIC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bahrain Kuwait Insurance 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 Kuwait Insurance 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 BHD14.3 Mil.
Revenue was 22.278 + 93.536 + 19.177 + 22.229 = BHD157.2 Mil.
Gross Profit was 22.278 + 93.536 + 19.177 + 22.229 = BHD157.2 Mil.
Total Current Assets was BHD0.0 Mil.
Total Assets was BHD251.8 Mil.
Property, Plant and Equipment(Net PPE) was BHD4.0 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD0.8 Mil.
Selling, General, & Admin. Expense(SGA) was BHD0.0 Mil.
Total Current Liabilities was BHD0.0 Mil.
Long-Term Debt & Capital Lease Obligation was BHD0.6 Mil.
Net Income was 1.719 + 0.922 + 1.146 + 1.089 = BHD4.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = BHD0.0 Mil.
Cash Flow from Operations was -2.02 + 3.727 + 2.036 + 2.921 = BHD6.7 Mil.
 Total Receivables was BHD13.1 Mil.
Revenue was 21.116 + 18.402 + 23.379 + 27.698 = BHD90.6 Mil.
Gross Profit was 21.116 + 18.402 + 23.379 + 27.698 = BHD90.6 Mil.
Total Current Assets was BHD0.0 Mil.
Total Assets was BHD191.5 Mil.
Property, Plant and Equipment(Net PPE) was BHD4.3 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD0.6 Mil.
Selling, General, & Admin. Expense(SGA) was BHD0.0 Mil.
Total Current Liabilities was BHD0.0 Mil.
Long-Term Debt & Capital Lease Obligation was BHD0.0 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)
=(14.294 / 157.22) / (13.089 / 90.595)
=0.090917 / 0.144478
=

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)
=(90.595 / 90.595) / (157.22 / 157.22)
=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 + 3.999) / 251.784) / (1 - (0 + 4.333) / 191.52)
=0.984117 / 0.977376
=

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
=157.22 / 90.595
=

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))
=(0.573 / (0.573 + 4.333)) / (0.825 / (0.825 + 3.999))
=0.116796 / 0.17102
=

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 / 157.22) / (0 / 90.595)
=0 / 0
=

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)
=((0.642 + 0) / 251.784) / ((0 + 0) / 191.52)
=0.00255 / 0
=

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
=(4.876 - 0 - 6.664) / 251.784
=-0.007101

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Bahrain Kuwait Insurance Co BSC (BAH:BKIC) has a Beneish M-Score of 0.00 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bahrain Kuwait Insurance Co BSC and its competitors. According to the industry distribution chart, Bahrain Kuwait Insurance Co BSC ranks #999999 out of 398 companies in the Insurance industry.
Is Bahrain Kuwait Insurance Co BSC's Beneish M-Score too high?
Bahrain Kuwait Insurance Co BSC's current Beneish M-Score is 0.00. Based on the distribution chart, Bahrain Kuwait Insurance Co BSC ranks #999999 out of 398 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Bahrain Kuwait Insurance Co BSC has a GF Score™ of 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bahrain Kuwait Insurance Co BSC's Beneish M-Score compare to CB and PGR?
According to the Insurance industry distribution chart, Bahrain Kuwait Insurance Co BSC ranks #999999 out of 398 companies for Beneish M-Score. This places Bahrain Kuwait Insurance Co BSC 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Kuwait Insurance Co BSC and its competitors. Bahrain Kuwait Insurance Co BSC'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 Bahrain Kuwait Insurance Co BSC stock overvalued right now?
Based on GuruFocus' analysis, Bahrain Kuwait Insurance Co BSC (BAH:BKIC) is currently considered Significantly Undervalued. The stock's GF Value™ is BHD0.73, compared to a current price of BHD0.42 — trading 42.3% below its estimated fair value. The current Beneish M-Score is 0.00. Bahrain Kuwait Insurance Co BSC's overall GF Score™ is 84/100 with 5 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 Bahrain Kuwait Insurance Co BSC (BAH:BKIC), the current Beneish M-Score is 0.00 as of Jul. 15, 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 Bahrain Kuwait Insurance Co BSC (BAH:BKIC) Overvalued in 2026?

Based on GuruFocus' analysis, Bahrain Kuwait Insurance Co BSC stock appears to be undervalued. The current stock price of BHD0.42 is trading 42.3% below its estimated GF Value™ of BHD0.73. GuruFocus considers Bahrain Kuwait Insurance Co BSC to be Significantly Undervalued.

Key valuation signals for BAH:BKIC:

  • Beneish M-Score: 0.00
  • GF Value™: BHD0.73 vs. price of BHD0.42 (42.3% below fair value)
  • GF Score™: 84/100 with 5 warning signs

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

Bahrain Kuwait Insurance Co BSC Business Description

Address BKIC Tower 2775, Road 2835, PO Box 10166, Block 428, Seef District, Manama, BHR
Bahrain Kuwait Insurance Co BSC is a Bahrain-based insurance company. The operating segments of the company are Marine and general, Motor, Medical, and Life. Marine and general offers insurance policies to cover various risks of fire, general accident and engineering, group life, marine cargo, marine hull and marine aviation and special contingency; Motor offers insurance policies to cover risks of a motor third party, motor comprehensive and extended warranty; Medical offers insurance policies to cover risks of medical; and Life offers insurance policies to cover risks of group life, education, protection and savings. It generates Majority of revenue from the Marine and general segment.
84GF Score

Get the complete analysis for BAH:BKIC

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

BHD0.42
Price
BHD0.73
GF Value