Dukhan Bank QPSC (DSMD:DUBK) Beneish M-Score: -2.69 (As of Jul. 15, 2026)

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DSMD:DUBK Dukhan Bank QPSC DSMD:DUBK
71 GF Score
Price ر.ق3.34
GF Value ر.ق4.04
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Dukhan Bank QPSC Beneish M-Score?

Dukhan Bank QPSC DSMD:DUBK 71 Beneish M-Score is -2.69 as of Jul. 15, 2026. GuruFocus rates DSMD:DUBK with a GF Score™ of 71/100 and a GF Value™ of ر.ق4.04 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,396 Banks companies, Dukhan Bank QPSC ranks better than 86.68% 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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DSMD:DUBK' s Beneish M-Score Range Over the Past 10 Years
Min: -4.67   Med: -2.39   Max: -1.49
Current: -2.69

During the past 7 years, the highest Beneish M-Score of Dukhan Bank QPSC was -1.49. The lowest was -4.67. And the median was -2.39.

DSMD:DUBK
71GF Score
Dukhan Bank QPSC DSMD:DUBK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dukhan Bank QPSC 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 Dukhan Bank QPSC 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 * 0.9998+0.892 * 1.0564+0.115 * 0.8385
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.6564+4.679 * -0.00284-0.327 * 1.3563
=-2.69

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ر.ق0 Mil.
Revenue was ر.ق2,828 Mil.
Gross Profit was ر.ق2,828 Mil.
Total Current Assets was ر.ق0 Mil.
Total Assets was ر.ق123,782 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق966 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق188 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق104 Mil.
Total Current Liabilities was ر.ق0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق6,559 Mil.
Net Income was ر.ق1,411 Mil.
Gross Profit was ر.ق0 Mil.
Cash Flow from Operations was ر.ق1,763 Mil.
 Total Receivables was ر.ق0 Mil.
Revenue was ر.ق2,677 Mil.
Gross Profit was ر.ق2,677 Mil.
Total Current Assets was ر.ق0 Mil.
Total Assets was ر.ق117,940 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق891 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق141 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق59 Mil.
Total Current Liabilities was ر.ق0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق4,607 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 / 2828.316) / (0 / 2677.297)
=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)
=(2677.297 / 2677.297) / (2828.316 / 2828.316)
=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 + 965.516) / 123781.511) / (1 - (0 + 891.35) / 117939.669)
=0.9922 / 0.992442
=0.9998

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
=2828.316 / 2677.297
=1.0564

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))
=(140.741 / (140.741 + 891.35)) / (187.508 / (187.508 + 965.516))
=0.136365 / 0.162623
=0.8385

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)
=(103.593 / 2828.316) / (59.2 / 2677.297)
=0.036627 / 0.022112
=1.6564

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)
=((6558.5 + 0) / 123781.511) / ((4607.227 + 0) / 117939.669)
=0.052984 / 0.039064
=1.3563

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
=(1411.465 - 0 - 1762.957) / 123781.511
=-0.00284

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.

Dukhan Bank QPSC has a M-score of -2.69 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 -2.69 mean?
Dukhan Bank QPSC (DSMD:DUBK) has a Beneish M-Score of -2.69 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dukhan Bank QPSC and its competitors. According to the industry distribution chart, Dukhan Bank QPSC ranks #186 out of 1396 companies in the Banks industry, placing it in the top 13.3%.
Is Dukhan Bank QPSC's Beneish M-Score too high?
Dukhan Bank QPSC's current Beneish M-Score is -2.69. Based on the distribution chart, Dukhan Bank QPSC ranks #186 out of 1396 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Dukhan Bank QPSC has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dukhan Bank QPSC's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Dukhan Bank QPSC ranks #186 out of 1396 companies for Beneish M-Score. This places Dukhan Bank QPSC in the top 13% of its industry — outperforming the majority of peers. 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Dukhan Bank QPSC and its competitors. Dukhan Bank QPSC's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dukhan Bank QPSC stock overvalued right now?
Based on GuruFocus' analysis, Dukhan Bank QPSC (DSMD:DUBK) is currently considered Modestly Undervalued. The stock's GF Value™ is ر.ق4.04, compared to a current price of ر.ق3.34 — trading 17.3% below its estimated fair value. The current Beneish M-Score is -2.69. Dukhan Bank QPSC's overall GF Score™ is 71/100 with 2 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 Dukhan Bank QPSC (DSMD:DUBK), the current Beneish M-Score is -2.69 as of Jul. 15, 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 Dukhan Bank QPSC (DSMD:DUBK) Overvalued in 2026?

Based on GuruFocus' analysis, Dukhan Bank QPSC stock appears to be undervalued. The current stock price of ر.ق3.34 is trading 17.3% below its estimated GF Value™ of ر.ق4.04. GuruFocus considers Dukhan Bank QPSC to be Modestly Undervalued.

Key valuation signals for DSMD:DUBK:

  • Beneish M-Score: -2.69
  • GF Value™: ر.ق4.04 vs. price of ر.ق3.34 (17.3% below fair value)
  • GF Score™: 71/100 with 2 warning signs

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

Dukhan Bank QPSC Business Description

Address Grand Hamad Street, Doha, QAT
Dukhan Bank QPSC is a Sharia-compliant bank engaged in financing, investing, and advisory activities. The Company operates through Wholesale Banking, Retail and Private Banking, Treasury and Investments Division, and Subsidiaries, with Wholesale Banking generating the majority of revenue from financing, deposits, and related transactions. Retail and Private Banking includes financing, deposits, and part asset management activities, while the Treasury and Investments Division manages funding, risk management, investments in liquid assets, and trading and corporate finance activities. The Company operates mainly in Qatar, and also in other GCC countries, Europe, North America, and others, with maximum revenue generated from Qatar.
71GF Score

Get the complete analysis for DSMD:DUBK

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

ر.ق3.34
Price
ر.ق4.04
GF Value