Qatar Islamic Bank QPSC (DSMD:QIBK) Beneish M-Score: -2.28 (As of Jul. 12, 2026)


DSMD:QIBK Qatar Islamic Bank QPSC DSMD:QIBK
70 GF Score
Price ر.ق20.99
GF Value ر.ق21.01
Valuation Fairly Valued
! 4 Warning Signs
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What is Qatar Islamic Bank QPSC Beneish M-Score?

Qatar Islamic Bank QPSC DSMD:QIBK -1.22% 70 Beneish M-Score is -2.28 as of Jul. 12, 2026. GuruFocus rates DSMD:QIBK with a GF Score™ of 70/100 and a GF Value™ of ر.ق21.01 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,399 Banks companies, Qatar Islamic Bank QPSC ranks worse than 69.91% 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 -2.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DSMD:QIBK' s Beneish M-Score Range Over the Past 10 Years
Min: -2.74   Med: -2.27   Max: -1.85
Current: -2.28

During the past 13 years, the highest Beneish M-Score of Qatar Islamic Bank QPSC was -1.85. The lowest was -2.74. And the median was -2.27.

DSMD:QIBK
70GF Score
Qatar Islamic Bank QPSC DSMD:QIBK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Qatar Islamic 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 Qatar Islamic 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 * 0.9992+0.892 * 0.9785+0.115 * 1.4866
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9307+4.679 * 0.027697-0.327 * 0.9455
=-2.28

* 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.ق6,471 Mil.
Gross Profit was ر.ق6,471 Mil.
Total Current Assets was ر.ق0 Mil.
Total Assets was ر.ق221,051 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق576 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق69 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق63 Mil.
Total Current Liabilities was ر.ق0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق23,179 Mil.
Net Income was ر.ق4,835 Mil.
Gross Profit was ر.ق0 Mil.
Cash Flow from Operations was ر.ق-1,287 Mil.
 Total Receivables was ر.ق0 Mil.
Revenue was ر.ق6,614 Mil.
Gross Profit was ر.ق6,614 Mil.
Total Current Assets was ر.ق0 Mil.
Total Assets was ر.ق200,780 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق356 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق67 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق69 Mil.
Total Current Liabilities was ر.ق0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق22,266 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 / 6471.368) / (0 / 6613.814)
=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)
=(6613.814 / 6613.814) / (6471.368 / 6471.368)
=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 + 576.157) / 221050.778) / (1 - (0 + 355.853) / 200779.776)
=0.997394 / 0.998228
=0.9992

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
=6471.368 / 6613.814
=0.9785

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))
=(67.17 / (67.17 + 355.853)) / (68.897 / (68.897 + 576.157))
=0.158786 / 0.106808
=1.4866

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)
=(62.535 / 6471.368) / (68.668 / 6613.814)
=0.009663 / 0.010383
=0.9307

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)
=((23178.536 + 0) / 221050.778) / ((22265.58 + 0) / 200779.776)
=0.104856 / 0.110896
=0.9455

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
=(4835.114 - 0 - -1287.416) / 221050.778
=0.027697

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.

Qatar Islamic Bank QPSC has a M-score of -2.28 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 -2.28 mean?
Qatar Islamic Bank QPSC (DSMD:QIBK) has a Beneish M-Score of -2.28 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Qatar Islamic Bank QPSC and its competitors. According to the industry distribution chart, Qatar Islamic Bank QPSC ranks #978 out of 1399 companies in the Banks industry, placing it in the top 69.9%.
Is Qatar Islamic Bank QPSC's Beneish M-Score too high?
Qatar Islamic Bank QPSC's current Beneish M-Score is -2.28. Based on the distribution chart, Qatar Islamic Bank QPSC ranks #978 out of 1399 companies in the Banks industry, which is below the industry midpoint. Overall, Qatar Islamic Bank QPSC has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qatar Islamic Bank QPSC's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Qatar Islamic Bank QPSC ranks #978 out of 1399 companies for Beneish M-Score. This places Qatar Islamic Bank QPSC 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 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 Qatar Islamic Bank QPSC and its competitors. Qatar Islamic Bank QPSC's current Beneish M-Score is -2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qatar Islamic Bank QPSC stock overvalued right now?
Based on GuruFocus' analysis, Qatar Islamic Bank QPSC (DSMD:QIBK) is currently considered Fairly Valued. The stock's GF Value™ is ر.ق21.01, compared to a current price of ر.ق20.99 — trading 0.1% below its estimated fair value. The current Beneish M-Score is -2.28. Qatar Islamic Bank QPSC's overall GF Score™ is 70/100 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 Qatar Islamic Bank QPSC (DSMD:QIBK), the current Beneish M-Score is -2.28 as of Jul. 12, 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 Qatar Islamic Bank QPSC (DSMD:QIBK) Overvalued in 2026?

Based on GuruFocus' analysis, Qatar Islamic Bank QPSC stock appears to be undervalued. The current stock price of ر.ق20.99 is trading 0.1% below its estimated GF Value™ of ر.ق21.01. GuruFocus considers Qatar Islamic Bank QPSC to be Fairly Valued.

Key valuation signals for DSMD:QIBK:

  • Beneish M-Score: -2.28
  • GF Value™: ر.ق21.01 vs. price of ر.ق20.99 (0.1% below fair value)
  • GF Score™: 70/100 with 4 warning signs

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

Qatar Islamic Bank QPSC Business Description

Address Grand Hamad Street, P.O. Box 559, Doha, QAT
Qatar Islamic Bank QPSC and its subsidiaries provide banking products and services through Corporate Banking, Personal Banking, Group Function, and local and international subsidiaries, with Corporate Banking generating the maximum revenue. Corporate Banking includes services for institutional investors, corporates, small and medium enterprises, financial institutions, and investment vehicles, while Personal Banking offers services to individual customers through local branches, including checking and savings accounts, credit cards, personal lines of credit, and mortgages. Group Function comprises treasury, investment, finance, and other central functions. Geographically, the bank operates in Qatar, other GCC countries, Europe, North America, and other countries.
70GF Score

Get the complete analysis for DSMD:QIBK

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

ر.ق20.99
Price
ر.ق21.01
GF Value