Dubai Islamic Insurance & Reinsurance Co PSC (DFM:AMAN) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


DFM:AMAN Dubai Islamic Insurance & Reinsurance Co PSC DFM:AMAN
23 GF Score
Price د.إ0.39
! 1 Warning Sign
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What is Dubai Islamic Insurance & Reinsurance Co PSC Beneish M-Score?

Dubai Islamic Insurance & Reinsurance Co PSC DFM:AMAN -1.03% 23 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates DFM:AMAN with a GF Score™ of 23/100. The stock has 1 warning sign investors should review. Among 397 Insurance companies, Dubai Islamic Insurance & Reinsurance Co PSC 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 Dubai Islamic Insurance & Reinsurance Co PSC's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Dubai Islamic Insurance & Reinsurance Co PSC was -1.21. The lowest was -3.23. And the median was -2.60.

DFM:AMAN
23GF Score
Dubai Islamic Insurance & Reinsurance Co PSC DFM:AMAN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Dubai Islamic Insurance & Reinsurance Co PSC 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 Dubai Islamic Insurance & Reinsurance Co PSC 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was د.إ33.22 Mil.
Revenue was -14.077 + 2.061 + -4.392 + -2.593 = د.إ-19.00 Mil.
Gross Profit was -14.077 + 2.061 + -4.392 + -2.593 = د.إ-19.00 Mil.
Total Current Assets was د.إ0.00 Mil.
Total Assets was د.إ1,035.91 Mil.
Property, Plant and Equipment(Net PPE) was د.إ0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ0.03 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ12.53 Mil.
Total Current Liabilities was د.إ0.00 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ7.18 Mil.
Net Income was 2.33 + 26.392 + -9.566 + -7.757 = د.إ11.40 Mil.
Non Operating Income was 0 + 0 + -3.601 + 0 = د.إ-3.60 Mil.
Cash Flow from Operations was 0.235 + 269.252 + -34.769 + -58.134 = د.إ176.58 Mil.
 Total Receivables was د.إ66.85 Mil.
Revenue was 12.83 + 3.462 + -11.263 + -5.153 = د.إ-0.12 Mil.
Gross Profit was 12.83 + 3.462 + -11.263 + -5.153 = د.إ-0.12 Mil.
Total Current Assets was د.إ0.00 Mil.
Total Assets was د.إ933.93 Mil.
Property, Plant and Equipment(Net PPE) was د.إ0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ0.04 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ9.36 Mil.
Total Current Liabilities was د.إ0.00 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ34.79 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)
=(33.221 / -19.001) / (66.846 / -0.124)
= /
=

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)
=(-0.124 / -0.124) / (-19.001 / -19.001)
= /
=

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 + 0.043) / 1035.911) / (1 - (0 + 0.05) / 933.927)
=0.999958 / 0.999946
=

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
=-19.001 / -0.124
=

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))
=(0.035 / (0.035 + 0.05)) / (0.032 / (0.032 + 0.043))
=0.411765 / 0.426667
=

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)
=(12.527 / -19.001) / (9.359 / -0.124)
= /
=

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)
=((7.18 + 0) / 1035.911) / ((34.786 + 0) / 933.927)
=0.006931 / 0.037247
=

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
=(11.399 - -3.601 - 176.584) / 1035.911
=-0.155983

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?
Dubai Islamic Insurance & Reinsurance Co PSC (DFM:AMAN) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dubai Islamic Insurance & Reinsurance Co PSC and its competitors. According to the industry distribution chart, Dubai Islamic Insurance & Reinsurance Co PSC ranks #999999 out of 397 companies in the Insurance industry.
Is Dubai Islamic Insurance & Reinsurance Co PSC's Beneish M-Score too high?
Dubai Islamic Insurance & Reinsurance Co PSC's current Beneish M-Score is 0.00. Based on the distribution chart, Dubai Islamic Insurance & Reinsurance Co PSC ranks #999999 out of 397 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Dubai Islamic Insurance & Reinsurance Co PSC has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does Dubai Islamic Insurance & Reinsurance Co PSC's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Dubai Islamic Insurance & Reinsurance Co PSC ranks #999999 out of 397 companies for Beneish M-Score. This places Dubai Islamic Insurance & Reinsurance Co PSC 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 Dubai Islamic Insurance & Reinsurance Co PSC and its competitors. Dubai Islamic Insurance & Reinsurance Co PSC'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 Dubai Islamic Insurance & Reinsurance Co PSC stock overvalued right now?
Dubai Islamic Insurance & Reinsurance Co PSC (DFM:AMAN) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Dubai Islamic Insurance & Reinsurance Co PSC's overall GF Score™ is 23/100 with 1 warning sign 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 Dubai Islamic Insurance & Reinsurance Co PSC (DFM:AMAN), the current Beneish M-Score is 0.00 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.

Dubai Islamic Insurance & Reinsurance Co PSC Business Description

Address Oud Metha Road, Bur Dubai, P.O. Box: 157, Gulf Tower - B1 Mezzanine Floor, Dubai, ARE
Dubai Islamic Insurance & Reinsurance Co PSC mainly issues short-term Takaful contracts in connection with motor, marine, fire, engineering, general accident risks, group life, credit life, individual life, and medical risks. The company also invests in investment securities and properties. The company operates in various segments that include Underwriting of Takaful business, Investment Activities, and Others. The Takaful Activities, which include general and life insurance business, generate maximum revenue for the company.
23GF Score

Get the complete analysis for DFM:AMAN

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

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