Dubai Insurance Co PSC (DFM:DIN) Beneish M-Score: -2.68 (As of Jun. 25, 2026)


DFM:DIN Dubai Insurance Co PSC DFM:DIN
73 GF Score
Price د.إ17.00
GF Value د.إ17.69
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Dubai Insurance Co PSC Beneish M-Score?

Dubai Insurance Co PSC DFM:DIN 73 Beneish M-Score is -2.68 as of Jun. 25, 2026. GuruFocus rates DFM:DIN with a GF Score™ of 73/100 and a GF Value™ of د.إ17.69 (Fairly Valued). The stock has 5 warning signs investors should review. Among 397 Insurance companies, Dubai Insurance Co PSC ranks better than 70.03% 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.

Good Sign:

Beneish M-Score -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DFM:DIN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.96   Med: -2.68   Max: -1.69
Current: -2.68

During the past 13 years, the highest Beneish M-Score of Dubai Insurance Co PSC was -1.69. The lowest was -3.96. And the median was -2.68.

DFM:DIN
73GF Score
Dubai Insurance Co PSC DFM:DIN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dubai Insurance 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 Insurance 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 * 1+0.528 * 1+0.404 * 1.0019+0.892 * 1.1741+0.115 * 0.9898
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.048537-0.327 * 1.3797
=-2.68

* 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.إ0 Mil.
Revenue was 390.475 + 387.263 + 374.742 + 330.633 = د.إ1,483 Mil.
Gross Profit was 390.475 + 387.263 + 374.742 + 330.633 = د.إ1,483 Mil.
Total Current Assets was د.إ0 Mil.
Total Assets was د.إ4,308 Mil.
Property, Plant and Equipment(Net PPE) was د.إ60 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ7 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ0 Mil.
Total Current Liabilities was د.إ0 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ24 Mil.
Net Income was 70.438 + 51.082 + 46.219 + 46.891 = د.إ215 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = د.إ0 Mil.
Cash Flow from Operations was 42.434 + -13.011 + 36.577 + 357.73 = د.إ424 Mil.
 Total Receivables was د.إ0 Mil.
Revenue was 318.845 + 336.194 + 312.669 + 295.513 = د.إ1,263 Mil.
Gross Profit was 318.845 + 336.194 + 312.669 + 295.513 = د.إ1,263 Mil.
Total Current Assets was د.إ0 Mil.
Total Assets was د.إ3,611 Mil.
Property, Plant and Equipment(Net PPE) was د.إ57 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ6 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ0 Mil.
Total Current Liabilities was د.إ0 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ14 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)
=(0 / 1483.113) / (0 / 1263.221)
=0 / 0
=1

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)
=(1263.221 / 1263.221) / (1483.113 / 1483.113)
=1 / 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 + 60.168) / 4308.063) / (1 - (0 + 57.301) / 3610.509)
=0.986034 / 0.984129
=1.0019

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
=1483.113 / 1263.221
=1.1741

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))
=(6.33 / (6.33 + 57.301)) / (6.723 / (6.723 + 60.168))
=0.09948 / 0.100507
=0.9898

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 / 1483.113) / (0 / 1263.221)
=0 / 0
=1

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)
=((23.668 + 0) / 4308.063) / ((14.377 + 0) / 3610.509)
=0.005494 / 0.003982
=1.3797

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
=(214.63 - 0 - 423.73) / 4308.063
=-0.048537

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.

Dubai Insurance Co PSC has a M-score of -2.68 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 -2.68 mean?
Dubai Insurance Co PSC (DFM:DIN) has a Beneish M-Score of -2.68 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dubai Insurance Co PSC and its competitors. According to the industry distribution chart, Dubai Insurance Co PSC ranks #119 out of 397 companies in the Insurance industry, placing it in the top 30%.
Is Dubai Insurance Co PSC's Beneish M-Score too high?
Dubai Insurance Co PSC's current Beneish M-Score is -2.68. Based on the distribution chart, Dubai Insurance Co PSC ranks #119 out of 397 companies in the Insurance industry, which is above the industry midpoint. Overall, Dubai Insurance Co PSC has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dubai Insurance Co PSC's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Dubai Insurance Co PSC ranks #119 out of 397 companies for Beneish M-Score. This puts Dubai Insurance Co PSC in the upper 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 Insurance Co PSC and its competitors. Dubai Insurance Co PSC's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dubai Insurance Co PSC stock overvalued right now?
Based on GuruFocus' analysis, Dubai Insurance Co PSC (DFM:DIN) is currently considered Fairly Valued. The stock's GF Value™ is د.إ17.69, compared to a current price of د.إ17.00 — trading 3.9% below its estimated fair value. The current Beneish M-Score is -2.68. Dubai Insurance Co PSC's overall GF Score™ is 73/100 with 5 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 Dubai Insurance Co PSC (DFM:DIN), the current Beneish M-Score is -2.68 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 Dubai Insurance Co PSC (DFM:DIN) Overvalued in 2026?

Based on GuruFocus' analysis, Dubai Insurance Co PSC stock appears to be undervalued. The current stock price of د.إ17.00 is trading 3.9% below its estimated GF Value™ of د.إ17.69. GuruFocus considers Dubai Insurance Co PSC to be Fairly Valued.

Key valuation signals for DFM:DIN:

  • Beneish M-Score: -2.68
  • GF Value™: د.إ17.69 vs. price of د.إ17.00 (3.9% below fair value)
  • GF Score™: 73/100 with 5 warning signs

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

Dubai Insurance Co PSC Business Description

Address 37 Al Riqqa Road, Deira, P.O. Box 3027, Al Muraqqabat, Deira, Dubai, ARE
Dubai Insurance Co PSC is an insurance company. The company issues short-term insurance contracts in connection with general insurance including motor, marine, fire, engineering, accident; and life insurance includes group life and individual life. The company operates in three segments: The Medical and life insurance segment offers short-term group health and life insurance. The Motor and general insurance segment comprises general and health insurance. Products offered under general insurance include motor, marine, fire, engineering, general accident, and medical. The company derives maximum revenue from Motor and general insurance segment.
73GF Score

Get the complete analysis for DFM:DIN

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

د.إ17.00
Price
د.إ17.69
GF Value