Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) Beneish M-Score: -2.46 (As of Jun. 25, 2026)


CAI:ADIB Abu Dhabi Islamic Bank - Egypt CAI:ADIB
48 GF Score
Price E£45.50
GF Value E£28.68
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Abu Dhabi Islamic Bank - Egypt Beneish M-Score?

Abu Dhabi Islamic Bank - Egypt CAI:ADIB -0.44% 48 Beneish M-Score is -2.46 as of Jun. 25, 2026. GuruFocus rates CAI:ADIB with a GF Score™ of 48/100 and a GF Value™ of E£28.68 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,396 Banks companies, Abu Dhabi Islamic Bank - Egypt ranks better than 62.32% 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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Abu Dhabi Islamic Bank - Egypt's Beneish M-Score or its related term are showing as below:

CAI:ADIB' s Beneish M-Score Range Over the Past 10 Years
Min: -4.85   Med: -2.47   Max: 1.5
Current: -2.46

During the past 13 years, the highest Beneish M-Score of Abu Dhabi Islamic Bank - Egypt was 1.50. The lowest was -4.85. And the median was -2.47.

CAI:ADIB
48GF Score
Abu Dhabi Islamic Bank - Egypt CAI:ADIB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Abu Dhabi Islamic Bank - Egypt 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 Abu Dhabi Islamic Bank - Egypt 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 * 1.0011+0.892 * 1.2784+0.115 * 0.9013
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.237+4.679 * -0.051568-0.327 * 0.7938
=-2.46

* 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 E£0 Mil.
Revenue was 6883.01 + 6062.128 + 5947.144 + 5781.744 = E£24,674 Mil.
Gross Profit was 6883.01 + 6062.128 + 5947.144 + 5781.744 = E£24,674 Mil.
Total Current Assets was E£0 Mil.
Total Assets was E£394,477 Mil.
Property, Plant and Equipment(Net PPE) was E£3,637 Mil.
Depreciation, Depletion and Amortization(DDA) was E£197 Mil.
Selling, General, & Admin. Expense(SGA) was E£1,780 Mil.
Total Current Liabilities was E£0 Mil.
Long-Term Debt & Capital Lease Obligation was E£11,529 Mil.
Net Income was 3654.968 + 3155.769 + 3207.379 + 3192.534 = E£13,211 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was 24966.237 + 7561.5 + 3281.167 + -2255.913 = E£33,553 Mil.
 Total Receivables was E£0 Mil.
Revenue was 5433.25 + 4861.175 + 4647.509 + 4359.28 = E£19,301 Mil.
Gross Profit was 5433.25 + 4861.175 + 4647.509 + 4359.28 = E£19,301 Mil.
Total Current Assets was E£0 Mil.
Total Assets was E£283,998 Mil.
Property, Plant and Equipment(Net PPE) was E£2,931 Mil.
Depreciation, Depletion and Amortization(DDA) was E£142 Mil.
Selling, General, & Admin. Expense(SGA) was E£1,126 Mil.
Total Current Liabilities was E£0 Mil.
Long-Term Debt & Capital Lease Obligation was E£10,455 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 / 24674.026) / (0 / 19301.214)
=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)
=(19301.214 / 19301.214) / (24674.026 / 24674.026)
=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 + 3637.274) / 394477.005) / (1 - (0 + 2931.058) / 283997.817)
=0.99078 / 0.989679
=1.0011

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
=24674.026 / 19301.214
=1.2784

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))
=(142.063 / (142.063 + 2931.058)) / (196.639 / (196.639 + 3637.274))
=0.046228 / 0.051289
=0.9013

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)
=(1780.481 / 24674.026) / (1125.905 / 19301.214)
=0.07216 / 0.058333
=1.237

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)
=((11528.619 + 0) / 394477.005) / ((10455.49 + 0) / 283997.817)
=0.029225 / 0.036815
=0.7938

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
=(13210.65 - 0 - 33552.991) / 394477.005
=-0.051568

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.

Abu Dhabi Islamic Bank - Egypt has a M-score of -2.46 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 -2.46 mean?
Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) has a Beneish M-Score of -2.46 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Abu Dhabi Islamic Bank - Egypt and its competitors. According to the industry distribution chart, Abu Dhabi Islamic Bank - Egypt ranks #526 out of 1396 companies in the Banks industry, placing it in the top 37.7%.
Is Abu Dhabi Islamic Bank - Egypt's Beneish M-Score too high?
Abu Dhabi Islamic Bank - Egypt's current Beneish M-Score is -2.46. Based on the distribution chart, Abu Dhabi Islamic Bank - Egypt ranks #526 out of 1396 companies in the Banks industry, which is above the industry midpoint. Overall, Abu Dhabi Islamic Bank - Egypt has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Abu Dhabi Islamic Bank - Egypt's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Abu Dhabi Islamic Bank - Egypt ranks #526 out of 1396 companies for Beneish M-Score. This puts Abu Dhabi Islamic Bank - Egypt 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 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 Abu Dhabi Islamic Bank - Egypt and its competitors. Abu Dhabi Islamic Bank - Egypt's current Beneish M-Score is -2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Abu Dhabi Islamic Bank - Egypt stock overvalued right now?
Based on GuruFocus' analysis, Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) is currently considered Significantly Overvalued. The stock's GF Value™ is E£28.68, compared to a current price of E£45.50 — trading 58.6% above its estimated fair value. The current Beneish M-Score is -2.46. Abu Dhabi Islamic Bank - Egypt's overall GF Score™ is 48/100 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 Abu Dhabi Islamic Bank - Egypt (CAI:ADIB), the current Beneish M-Score is -2.46 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 Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) Overvalued in 2026?

Based on GuruFocus' analysis, Abu Dhabi Islamic Bank - Egypt stock appears to be overvalued. The current stock price of E£45.50 is trading 58.6% above its estimated GF Value™ of E£28.68. GuruFocus considers Abu Dhabi Islamic Bank - Egypt to be Significantly Overvalued.

Key valuation signals for CAI:ADIB:

  • Beneish M-Score: -2.46
  • GF Value™: E£28.68 vs. price of E£45.50 (58.6% above fair value)
  • GF Score™: 48/100 with 5 warning signs

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

Abu Dhabi Islamic Bank - Egypt Business Description

Address 9 Rustom Street, Garden City, Cairo, EGY, 11511
Abu Dhabi Islamic Bank - Egypt is engaged in the provision of banking services. The bank operates in the following segments :Large, medium and small enterprises, Investment, Retail, and other activities. It provides personal banking solutions comprising of current, SMART, tiered monthly saving account, wealth management services, bancassurance, and various credit and debit card facilities. Additionally, the bank renders corporate finance, and treasury services comprising of foreign exchange, sharia-compliant products, and market analysis. Further, it also grants Islamic options for the letter of guarantee and letter of credit.
48GF Score

Get the complete analysis for CAI:ADIB

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

E£45.50
Price
E£28.68
GF Value