Khaleeji Bank BSC (BAH:KHALEEJI) Beneish M-Score: -1.71 (As of Aug. 08, 2026)

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What is Khaleeji Bank BSC Beneish M-Score?

Khaleeji Bank BSC BAH:KHALEEJI +1.47% Beneish M-Score is -1.71 as of Aug. 08, 2026. The stock has 3 warning signs investors should review. Among 1,392 Banks companies, Khaleeji Bank BSC ranks worse than 95.47% 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.

Warning Sign:

Beneish M-Score -1.71 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Khaleeji Bank BSC's Beneish M-Score or its related term are showing as below:

BAH:KHALEEJI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.08   Med: -2.56   Max: -1.71
Current: -1.71

During the past 13 years, the highest Beneish M-Score of Khaleeji Bank BSC was -1.71. The lowest was -3.08. And the median was -2.56.

Khaleeji Bank 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 Khaleeji Bank 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 * 0.9534+0.892 * 1.9742+0.115 * 1.7304
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4936+4.679 * -0.068114-0.327 * 0.8013
=-1.71

* 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 BHD37.56 Mil.
Gross Profit was BHD37.56 Mil.
Total Current Assets was BHD0.00 Mil.
Total Assets was BHD1,725.12 Mil.
Property, Plant and Equipment(Net PPE) was BHD353.71 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD1.80 Mil.
Selling, General, & Admin. Expense(SGA) was BHD4.18 Mil.
Total Current Liabilities was BHD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BHD290.14 Mil.
Net Income was BHD11.58 Mil.
Gross Profit was BHD0.00 Mil.
Cash Flow from Operations was BHD129.09 Mil.
 Total Receivables was BHD0.00 Mil.
Revenue was BHD19.02 Mil.
Gross Profit was BHD19.02 Mil.
Total Current Assets was BHD0.00 Mil.
Total Assets was BHD1,496.13 Mil.
Property, Plant and Equipment(Net PPE) was BHD248.67 Mil.
Depreciation, Depletion and Amortization(DDA) was BHD2.20 Mil.
Selling, General, & Admin. Expense(SGA) was BHD4.29 Mil.
Total Current Liabilities was BHD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BHD314.01 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 / 37.558) / (0 / 19.024)
=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)
=(19.024 / 19.024) / (37.558 / 37.558)
=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 + 353.713) / 1725.124) / (1 - (0 + 248.673) / 1496.129)
=0.794964 / 0.833789
=0.9534

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
=37.558 / 19.024
=1.9742

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))
=(2.198 / (2.198 + 248.673)) / (1.8 / (1.8 + 353.713))
=0.008761 / 0.005063
=1.7304

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)
=(4.179 / 37.558) / (4.288 / 19.024)
=0.111268 / 0.225399
=0.4936

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)
=((290.142 + 0) / 1725.124) / ((314.006 + 0) / 1496.129)
=0.168186 / 0.209879
=0.8013

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
=(11.582 - 0 - 129.087) / 1725.124
=-0.068114

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.

Khaleeji Bank BSC has a M-score of -1.71 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 -1.71 mean?
Khaleeji Bank BSC (BAH:KHALEEJI) has a Beneish M-Score of -1.71 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Khaleeji Bank BSC and its competitors. According to the industry distribution chart, Khaleeji Bank BSC ranks #1329 out of 1392 companies in the Banks industry, placing it in the top 95.5%.
Is Khaleeji Bank BSC's Beneish M-Score too high?
Khaleeji Bank BSC's current Beneish M-Score is -1.71. Based on the distribution chart, Khaleeji Bank BSC ranks #1329 out of 1392 companies in the Banks industry, which is in the bottom quartile relative to peers.
How does Khaleeji Bank BSC's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Khaleeji Bank BSC ranks #1329 out of 1392 companies for Beneish M-Score. This places Khaleeji Bank 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 a Banks company?
A good Beneish M-Score depends on the Banks 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 Khaleeji Bank BSC and its competitors. Khaleeji Bank BSC's current Beneish M-Score is -1.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Khaleeji Bank BSC stock overvalued right now?
Based on GuruFocus' analysis, Khaleeji Bank BSC (BAH:KHALEEJI) is currently considered Modestly Undervalued. The stock's GF Value™ is BHD0.09, compared to a current price of BHD0.07 — trading 23.3% below its estimated fair value. The current Beneish M-Score is -1.71. 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 Khaleeji Bank BSC (BAH:KHALEEJI), the current Beneish M-Score is -1.71 as of Aug. 08, 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.

Khaleeji Bank BSC Business Description

Address Road 4626, Block 346, Harbour Gate, GFH Tower, 2nd Floor, Office 2014, Building 1435, PO Box 60002, Bahrain Financial Harbour District, Sea Front, Manama, BHR
Khaleeji Bank BSC is engaged in retail and corporate banking, consumer finance, wealth management, structured investment products and project financing facilities. Its business segments include; Banking segment and Investment segment. Banking segment covers licensed activities of providing customer services such as accepting Mudharaba deposits, savings account and current account facilities, fund transfer facilities, bill payment facilities. Investments segment includes relates to conceptualising of investment deals and performing roles of an arranger, manager, and administrator of the funds.