Engineering Industries (CAI:ENGC) Beneish M-Score: -2.32 (As of Jun. 26, 2026)


CAI:ENGC Engineering Industries CAI:ENGC
35 GF Score
Price E£35.61
! 3 Warning Signs
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What is Engineering Industries Beneish M-Score?

Engineering Industries CAI:ENGC -1.90% 35 Beneish M-Score is -2.32 as of Jun. 26, 2026. GuruFocus rates CAI:ENGC with a GF Score™ of 35/100. The stock has 3 warning signs investors should review. Among 388 Building Materials companies, Engineering Industries ranks worse than 72.42% 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.

Good Sign:

Beneish M-Score -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CAI:ENGC' s Beneish M-Score Range Over the Past 10 Years
Min: -13.76   Med: -1.74   Max: -0.76
Current: -2.32

During the past 6 years, the highest Beneish M-Score of Engineering Industries was -0.76. The lowest was -13.76. And the median was -1.74.

Engineering Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Engineering Industries'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.

Engineering Industries Beneish M-Score Chart

Engineering Industries Annual Data
Trend Dec19 Dec20 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -13.76 -0.76 -1.15 -2.32

Engineering Industries Quarterly Data
Mar20 Jun20 Dec20 Mar21 Jun21 Mar22 Jun22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 -1.15 -1.19 -1.85 -1.59 -2.32

CAI:ENGC vs CRH, VMC, MLM: Beneish M-Score Comparison

For the Building Materials subindustry, Engineering Industries'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.

Engineering Industries Beneish M-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Engineering Industries's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Engineering Industries's Beneish M-Score falls into.


CAI:ENGC
35GF Score
Engineering Industries CAI:ENGC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Engineering Industries 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 Engineering Industries 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 * 0.8974+0.528 * 1.0437+0.404 * 1.1583+0.892 * 1.1903+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2295+4.679 * 0.002748-0.327 * 0.928
=-2.32

* 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 E£2,882 Mil.
Revenue was 2009.034 + 1948.663 + 1760.89 + 1628.2 = E£7,347 Mil.
Gross Profit was 696.045 + 683.63 + 633.941 + 638.002 = E£2,652 Mil.
Total Current Assets was E£5,658 Mil.
Total Assets was E£7,721 Mil.
Property, Plant and Equipment(Net PPE) was E£1,708 Mil.
Depreciation, Depletion and Amortization(DDA) was E£0 Mil.
Selling, General, & Admin. Expense(SGA) was E£855 Mil.
Total Current Liabilities was E£3,833 Mil.
Long-Term Debt & Capital Lease Obligation was E£73 Mil.
Net Income was 431.427 + 35.913 + 185.752 + 169.436 = E£823 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was 1126.763 + -684.043 + 359.778 + -1.187 = E£801 Mil.
 Total Receivables was E£2,698 Mil.
Revenue was 1621.068 + 1756.665 + 1517.613 + 1276.874 = E£6,172 Mil.
Gross Profit was 624.614 + 553.221 + 591.531 + 555.616 = E£2,325 Mil.
Total Current Assets was E£5,200 Mil.
Total Assets was E£6,960 Mil.
Property, Plant and Equipment(Net PPE) was E£1,484 Mil.
Depreciation, Depletion and Amortization(DDA) was E£0 Mil.
Selling, General, & Admin. Expense(SGA) was E£585 Mil.
Total Current Liabilities was E£3,757 Mil.
Long-Term Debt & Capital Lease Obligation was E£38 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)
=(2881.888 / 7346.787) / (2697.983 / 6172.22)
=0.392265 / 0.437117
=0.8974

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)
=(2324.982 / 6172.22) / (2651.618 / 7346.787)
=0.376685 / 0.360922
=1.0437

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 - (5658.033 + 1707.99) / 7721.217) / (1 - (5199.857 + 1484.13) / 6960.418)
=0.046002 / 0.039715
=1.1583

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
=7346.787 / 6172.22
=1.1903

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 / (0 + 1484.13)) / (0 / (0 + 1707.99))
=0 / 0
=1

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)
=(855.479 / 7346.787) / (584.542 / 6172.22)
=0.116443 / 0.094705
=1.2295

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)
=((73.288 + 3833.201) / 7721.217) / ((37.755 + 3757.088) / 6960.418)
=0.505942 / 0.545203
=0.928

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
=(822.528 - 0 - 801.311) / 7721.217
=0.002748

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.

Engineering Industries has a M-score of -2.32 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 -2.32 mean?
Engineering Industries (CAI:ENGC) has a Beneish M-Score of -2.32 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Engineering Industries and its competitors. According to the industry distribution chart, Engineering Industries ranks #281 out of 388 companies in the Building Materials industry, placing it in the top 72.4%.
Is Engineering Industries' Beneish M-Score too high?
Engineering Industries' current Beneish M-Score is -2.32. Based on the distribution chart, Engineering Industries ranks #281 out of 388 companies in the Building Materials industry, which is below the industry midpoint. Overall, Engineering Industries has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does Engineering Industries' Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Engineering Industries ranks #281 out of 388 companies for Beneish M-Score. This places Engineering Industries 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 Building Materials company?
A good Beneish M-Score depends on the Building Materials 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 Engineering Industries and its competitors. Engineering Industries's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Engineering Industries stock overvalued right now?
Engineering Industries (CAI:ENGC) has a current Beneish M-Score of -2.32. The current Beneish M-Score is -2.32. Engineering Industries' overall GF Score™ is 35/100 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 Engineering Industries (CAI:ENGC), the current Beneish M-Score is -2.32 as of Jun. 26, 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.

Engineering Industries Business Description

Address Wadi Houf, Icon Industrial Zone, Helwan, EGY
Engineering Industries manufactures steel-sheets and related products. It offers sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units and corrugated sheets, galvanized tubes and pipes, and aluminum windows and doors. Some of the company projects include Dorra Contracting, Orascom, Talaat Mostafa, and others.
35GF Score

Get the complete analysis for CAI:ENGC

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

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