Sinai Cement (CAI:SCEM) Beneish M-Score: -1.69 (As of Jun. 25, 2026)


CAI:SCEM Sinai Cement CAI:SCEM
40 GF Score
Price E£62.56
GF Value E£23.85
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Sinai Cement Beneish M-Score?

Sinai Cement CAI:SCEM -1.23% 40 Beneish M-Score is -1.69 as of Jun. 25, 2026. GuruFocus rates CAI:SCEM with a GF Score™ of 40/100 and a GF Value™ of E£23.85 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 389 Building Materials companies, Sinai Cement ranks worse than 88.69% 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.

Warning Sign:

Beneish M-Score -1.69 higher than -1.78, which implies that the company might have manipulated its financial results.

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

CAI:SCEM' s Beneish M-Score Range Over the Past 10 Years
Min: -2.05   Med: -1.69   Max: -1.68
Current: -1.69

During the past 5 years, the highest Beneish M-Score of Sinai Cement was -1.68. The lowest was -2.05. And the median was -1.69.

Sinai Cement Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sinai Cement'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.

Sinai Cement Beneish M-Score Chart

Sinai Cement Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
0.00 0.00 -2.05 -1.68 -1.69

Sinai Cement Semi-Annual Data
Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score 0.00 0.00 -2.05 -1.68 -1.69

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

For the Building Materials subindustry, Sinai Cement'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.

Sinai Cement Beneish M-Score vs Building Materials Industry

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

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


CAI:SCEM
40GF Score
Sinai Cement CAI:SCEM
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sinai Cement 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 Sinai Cement 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 * 0.4485+0.528 * 0.5207+0.404 * 0.8362+0.892 * 1.5+0.115 * 1.3066
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.3405+4.679 * 0.279898-0.327 * 0.3038
=-1.69

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was E£554 Mil.
Revenue was E£6,428 Mil.
Gross Profit was E£2,653 Mil.
Total Current Assets was E£3,992 Mil.
Total Assets was E£5,696 Mil.
Property, Plant and Equipment(Net PPE) was E£1,533 Mil.
Depreciation, Depletion and Amortization(DDA) was E£91 Mil.
Selling, General, & Admin. Expense(SGA) was E£455 Mil.
Total Current Liabilities was E£1,819 Mil.
Long-Term Debt & Capital Lease Obligation was E£150 Mil.
Net Income was E£3,072 Mil.
Gross Profit was E£0 Mil.
Cash Flow from Operations was E£1,478 Mil.
 Total Receivables was E£824 Mil.
Revenue was E£4,285 Mil.
Gross Profit was E£921 Mil.
Total Current Assets was E£2,270 Mil.
Total Assets was E£3,503 Mil.
Property, Plant and Equipment(Net PPE) was E£1,107 Mil.
Depreciation, Depletion and Amortization(DDA) was E£87 Mil.
Selling, General, & Admin. Expense(SGA) was E£91 Mil.
Total Current Liabilities was E£3,813 Mil.
Long-Term Debt & Capital Lease Obligation was E£172 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)
=(554.249 / 6428.012) / (823.852 / 4285.47)
=0.086224 / 0.192243
=0.4485

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)
=(920.882 / 4285.47) / (2652.993 / 6428.012)
=0.214885 / 0.412724
=0.5207

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 - (3991.771 + 1533.043) / 5695.608) / (1 - (2269.995 + 1107.28) / 3502.901)
=0.029987 / 0.035863
=0.8362

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
=6428.012 / 4285.47
=1.5

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))
=(87.23 / (87.23 + 1107.28)) / (90.75 / (90.75 + 1533.043))
=0.073026 / 0.055888
=1.3066

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)
=(454.922 / 6428.012) / (90.79 / 4285.47)
=0.070772 / 0.021186
=3.3405

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)
=((149.958 + 1818.568) / 5695.608) / ((171.799 + 3812.765) / 3502.901)
=0.345622 / 1.137504
=0.3038

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
=(3072.362 - 0 - 1478.174) / 5695.608
=0.279898

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.

Sinai Cement has a M-score of -1.69 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 -1.69 mean?
Sinai Cement (CAI:SCEM) has a Beneish M-Score of -1.69 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sinai Cement and its competitors. According to the industry distribution chart, Sinai Cement ranks #345 out of 389 companies in the Building Materials industry, placing it in the top 88.7%.
Is Sinai Cement's Beneish M-Score too high?
Sinai Cement's current Beneish M-Score is -1.69. Based on the distribution chart, Sinai Cement ranks #345 out of 389 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, Sinai Cement has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sinai Cement's Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Sinai Cement ranks #345 out of 389 companies for Beneish M-Score. This places Sinai Cement 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 Sinai Cement and its competitors. Sinai Cement's current Beneish M-Score is -1.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sinai Cement stock overvalued right now?
Based on GuruFocus' analysis, Sinai Cement (CAI:SCEM) is currently considered Significantly Overvalued. The stock's GF Value™ is E£23.85, compared to a current price of E£62.56 — trading 162.3% above its estimated fair value. The current Beneish M-Score is -1.69. Sinai Cement's overall GF Score™ is 40/100 with 4 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 Sinai Cement (CAI:SCEM), the current Beneish M-Score is -1.69 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 Sinai Cement (CAI:SCEM) Overvalued in 2026?

Based on GuruFocus' analysis, Sinai Cement stock appears to be overvalued. The current stock price of E£62.56 is trading 162.3% above its estimated GF Value™ of E£23.85. GuruFocus considers Sinai Cement to be Significantly Overvalued.

Key valuation signals for CAI:SCEM:

  • Beneish M-Score: -1.69
  • GF Value™: E£23.85 vs. price of E£62.56 (162.3% above fair value)
  • GF Score™: 40/100 with 4 warning signs

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

Sinai Cement Business Description

Address Cairo Ain Sokhna New Road, District 5, Kilo 9, Katameya, Cairo, EGY, 11439
Sinai Cement is engaged in the production of cement and related products along with packaging of bags.
40GF Score

Get the complete analysis for CAI:SCEM

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

E£62.56
Price
E£23.85
GF Value