AtlantaSanad (CAS:ATL) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


CAS:ATL AtlantaSanad CAS:ATL
58 GF Score
Price MAD128.20
GF Value MAD160.24
Valuation Modestly Undervalued
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What is AtlantaSanad Beneish M-Score?

AtlantaSanad CAS:ATL +1.50% 58 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates CAS:ATL with a GF Score™ of 58/100 and a GF Value™ of MAD160.24 (Modestly Undervalued). Among 397 Insurance companies, AtlantaSanad ranks worse than 251888.92% 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.

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

During the past 13 years, the highest Beneish M-Score of AtlantaSanad was 0.00. The lowest was 0.00. And the median was 0.00.

CAS:ATL
58GF Score
AtlantaSanad CAS:ATL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

AtlantaSanad 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 AtlantaSanad 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 MAD2,151 Mil.
Revenue was MAD6,319 Mil.
Gross Profit was MAD6,319 Mil.
Total Current Assets was MAD0 Mil.
Total Assets was MAD21,368 Mil.
Property, Plant and Equipment(Net PPE) was MAD117 Mil.
Depreciation, Depletion and Amortization(DDA) was MAD64 Mil.
Selling, General, & Admin. Expense(SGA) was MAD0 Mil.
Total Current Liabilities was MAD0 Mil.
Long-Term Debt & Capital Lease Obligation was MAD0 Mil.
Net Income was MAD468 Mil.
Gross Profit was MAD46 Mil.
Cash Flow from Operations was MAD1,204 Mil.
 Total Receivables was MAD2,335 Mil.
Revenue was MAD5,288 Mil.
Gross Profit was MAD5,288 Mil.
Total Current Assets was MAD0 Mil.
Total Assets was MAD20,132 Mil.
Property, Plant and Equipment(Net PPE) was MAD117 Mil.
Depreciation, Depletion and Amortization(DDA) was MAD100 Mil.
Selling, General, & Admin. Expense(SGA) was MAD0 Mil.
Total Current Liabilities was MAD0 Mil.
Long-Term Debt & Capital Lease Obligation was MAD0 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)
=(2151.056 / 6319.369) / (2334.573 / 5287.908)
=0.340391 / 0.441493
=

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)
=(5287.908 / 5287.908) / (6319.369 / 6319.369)
=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 + 117.221) / 21368.216) / (1 - (0 + 116.889) / 20132.466)
=0.994514 / 0.994194
=

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
=6319.369 / 5287.908
=

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))
=(100.249 / (100.249 + 116.889)) / (63.522 / (63.522 + 117.221))
=0.461683 / 0.351449
=

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)
=(0 / 6319.369) / (0 / 5287.908)
=0 / 0
=

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)
=((0 + 0) / 21368.216) / ((0 + 0) / 20132.466)
=0 / 0
=

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
=(467.639 - 45.743 - 1204.061) / 21368.216
=-0.036604

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
AtlantaSanad (CAS:ATL) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AtlantaSanad and its competitors. According to the industry distribution chart, AtlantaSanad ranks #999999 out of 397 companies in the Insurance industry.
Is AtlantaSanad's Beneish M-Score too high?
AtlantaSanad's current Beneish M-Score is 0.00. Based on the distribution chart, AtlantaSanad ranks #999999 out of 397 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, AtlantaSanad has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AtlantaSanad's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, AtlantaSanad ranks #999999 out of 397 companies for Beneish M-Score. This places AtlantaSanad 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 AtlantaSanad and its competitors. AtlantaSanad's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AtlantaSanad stock overvalued right now?
Based on GuruFocus' analysis, AtlantaSanad (CAS:ATL) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD160.24, compared to a current price of MAD128.20 — trading 20% below its estimated fair value. The current Beneish M-Score is 0.00. AtlantaSanad's overall GF Score™ is 58/100. 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 AtlantaSanad (CAS:ATL), the current Beneish M-Score is 0.00 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.

Is AtlantaSanad (CAS:ATL) Overvalued in 2026?

Based on GuruFocus' analysis, AtlantaSanad stock appears to be undervalued. The current stock price of MAD128.20 is trading 20% below its estimated GF Value™ of MAD160.24. GuruFocus considers AtlantaSanad to be Modestly Undervalued.

Key valuation signals for CAS:ATL:

  • Beneish M-Score: 0.00
  • GF Value™: MAD160.24 vs. price of MAD128.20 (20% below fair value)
  • GF Score™: 58/100

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

AtlantaSanad Business Description

Address 181. Boulevard d’Anfa, Casablanca, MAR
AtlantaSanad is engaged in provision of insurance services. It provides automotive insurance, dwelling insurance, health and provident insurance, among others.
58GF Score

Get the complete analysis for CAS:ATL

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

MAD128.20
Price
MAD160.24
GF Value