Orascom Development EgyptE (CAI:ORHD) Beneish M-Score: -2.05 (As of Jun. 25, 2026)

What is Orascom Development EgyptE Beneish M-Score?

Orascom Development EgyptE CAI:ORHD +1.03% 89 Beneish M-Score is -2.05 as of Jun. 25, 2026. GuruFocus rates CAI:ORHD with a GF Score™ of 89/100 and a GF Value™ of E£23.95 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 538 Conglomerates companies, Orascom Development EgyptE ranks worse than 80.48% 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 -2.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CAI:ORHD' s Beneish M-Score Range Over the Past 10 Years
Min: -3.46 Med: -2.04 Max: 24.3
Current: -2.05

During the past 12 years, the highest Beneish M-Score of Orascom Development EgyptE was 24.30. The lowest was -3.46. And the median was -2.04.

Orascom Development EgyptE Beneish M-Score Related Terms

Orascom Development EgyptE Beneish M-Score Historical Data

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The historical data trend for Orascom Development EgyptE'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.

Orascom Development EgyptE Beneish M-Score Chart

Orascom Development EgyptE Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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3.57

-2.05

-2.02

-2.30

-2.42

Orascom Development EgyptE Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.02	-2.35	-2.03	-2.42	-2.05

CAI:ORHD vs HON, MMM: Beneish M-Score Comparison

For the Conglomerates subindustry, Orascom Development EgyptE'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.

Orascom Development EgyptE Beneish M-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Orascom Development EgyptE's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Orascom Development EgyptE's Beneish M-Score falls into.

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89GF Score

Orascom Development Egypt SAE CAI:ORHD

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Orascom Development EgyptE 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 Orascom Development EgyptE for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.4673

0.528 * 1.2742

0.404 * 0.8913

0.892 * 1.0375

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.4458

4.679 * -0.008908

0.327 * 1.0612

-2.05

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was E£15,386 Mil.
Revenue was 6459.985 + 7702.827 + 5712.463 + 5088.304 = E£24,964 Mil.
Gross Profit was 2299.756 + 2341.155 + 1244.414 + 1686.285 = E£7,572 Mil.
Total Current Assets was E£43,235 Mil.
Total Assets was E£65,501 Mil.
Property, Plant and Equipment(Net PPE) was E£13,788 Mil.
Depreciation, Depletion and Amortization(DDA) was E£0 Mil.
Selling, General, & Admin. Expense(SGA) was E£872 Mil.
Total Current Liabilities was E£27,539 Mil.
Long-Term Debt & Capital Lease Obligation was E£11,466 Mil.
Net Income was 1724.352 + 1466.268 + 926.114 + 1112.531 = E£5,229 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was 2373.762 + 2261.157 + 368.112 + 809.692 = E£5,813 Mil.

Total Receivables was E£10,107 Mil.
Revenue was 6441.465 + 6339.698 + 5243.32 + 6036.378 = E£24,061 Mil.
Gross Profit was 2619.99 + 2317.245 + 1792.06 + 2569.897 = E£9,299 Mil.
Total Current Assets was E£34,865 Mil.
Total Assets was E£54,046 Mil.
Property, Plant and Equipment(Net PPE) was E£11,333 Mil.
Depreciation, Depletion and Amortization(DDA) was E£0 Mil.
Selling, General, & Admin. Expense(SGA) was E£582 Mil.
Total Current Liabilities was E£22,809 Mil.
Long-Term Debt & Capital Lease Obligation was E£7,518 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)
	=	(15386.288 / 24963.579)	/	(10106.976 / 24060.861)
	=	0.616349	/	0.420059
	=	1.4673

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)
	=	(9299.192 / 24060.861)	/	(7571.61 / 24963.579)
	=	0.386486	/	0.303306
	=	1.2742

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 - (43235.019 + 13787.875) / 65500.93)	/	(1 - (34864.875 + 11332.547) / 54045.543)
	=	0.129434	/	0.145213
	=	0.8913

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
	=	24963.579	/	24060.861
	=	1.0375

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 + 11332.547))	/	(0 / (0 + 13787.875))
	=	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)
	=	(872.323 / 24963.579)	/	(581.555 / 24060.861)
	=	0.034944	/	0.02417
	=	1.4458

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)
	=	((11465.729 + 27539.371) / 65500.93)	/	((7518.493 + 22809.162) / 54045.543)
	=	0.595489	/	0.56115
	=	1.0612

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
	=	(5229.265 - 0	-	5812.723)	/	65500.93
	=	-0.008908

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.

Orascom Development EgyptE has a M-score of -2.05 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 -2.05 mean?

Orascom Development EgyptE (CAI:ORHD) has a Beneish M-Score of -2.05 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Orascom Development EgyptE and its competitors. According to the industry distribution chart, Orascom Development EgyptE ranks #433 out of 538 companies in the Conglomerates industry, placing it in the top 80.5%.

Is Orascom Development EgyptE's Beneish M-Score too high?

Orascom Development EgyptE's current Beneish M-Score is -2.05. Based on the distribution chart, Orascom Development EgyptE ranks #433 out of 538 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, Orascom Development EgyptE has a GF Score™ of 89/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Orascom Development EgyptE's Beneish M-Score compare to HON and MMM?

According to the Conglomerates industry distribution chart, Orascom Development EgyptE ranks #433 out of 538 companies for Beneish M-Score. This places Orascom Development EgyptE 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 Conglomerates company?

A good Beneish M-Score depends on the Conglomerates 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 Orascom Development EgyptE and its competitors. Orascom Development EgyptE's current Beneish M-Score is -2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Orascom Development EgyptE stock overvalued right now?

Based on GuruFocus' analysis, Orascom Development EgyptE (CAI:ORHD) is currently considered Significantly Overvalued. The stock's GF Value™ is E£23.95, compared to a current price of E£39.30 — trading 64.1% above its estimated fair value. The current Beneish M-Score is -2.05. Orascom Development EgyptE's overall GF Score™ is 89/100 with 8 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 Orascom Development EgyptE (CAI:ORHD), the current Beneish M-Score is -2.05 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 Orascom Development EgyptE (CAI:ORHD) Overvalued in 2026?

Based on GuruFocus' analysis, Orascom Development EgyptE stock appears to be overvalued. The current stock price of E£39.30 is trading 64.1% above its estimated GF Value™ of E£23.95. GuruFocus considers Orascom Development EgyptE to be Significantly Overvalued.

Key valuation signals for CAI:ORHD:

Beneish M-Score: -2.05
GF Value™: E£23.95 vs. price of E£39.30 (64.1% above fair value)
GF Score™: 89/100 with 8 warning signs

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

Orascom Development EgyptE Business Description

Industry Industrials Conglomerates

Comparable Companies CAI:RAYA ADX:IHC HON TSE:6501 TSE:8058 TSE:8031 TSE:8001 MMM TSE:8002 TSE:8053 TSE:5803 HKSE:00267 TSE:8015 MIL:PST HKSE:00001 BSP:ITSA3 TSE:6971 TSE:4901 XKRX:034730 LSE:HLMA

Address Nile City Towers, South Tower, 9th Floor, 2005 A Corniche El Nile, Cairo, EGY, 11221

Website https://www.orascomde.com

Orascom Development Egypt SAE is engaged in the development of integrated destinations in Egypt including private villas and apartments, hotels, leisure facilities and other supporting infrastructure. Its segments are Hotels, Real estate and construction, Sale of land, Destination management and Other Operations. The Hotel segment includes the provision of hospitality services in two to five-star hotels. Its Real-estate and construction segment includes an acquisition of land in undeveloped areas. The sale of land, segment includes the sale of land and land rights to others. Destination management consists of the provision of facilities and infrastructure services at resorts and towns.

89GF Score

Get the complete analysis for CAI:ORHD

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

E£39.30

Price

E£23.95

GF Value

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