Salam International Investment QSC (DSMD:SIIS) Beneish M-Score: -2.57 (As of Jul. 12, 2026)


DSMD:SIIS Salam International Investment Ltd QSC DSMD:SIIS
44 GF Score
Price ر.ق0.78
GF Value ر.ق0.82
Valuation Fairly Valued
! 7 Warning Signs
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What is Salam International Investment QSC Beneish M-Score?

Salam International Investment QSC DSMD:SIIS +0.38% 44 Beneish M-Score is -2.57 as of Jul. 12, 2026. GuruFocus rates DSMD:SIIS with a GF Score™ of 44/100 and a GF Value™ of ر.ق0.82 (Fairly Valued). The stock has 7 warning signs investors should review. Among 542 Conglomerates companies, Salam International Investment QSC ranks better than 59.96% on this metric.

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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DSMD:SIIS' s Beneish M-Score Range Over the Past 10 Years
Min: -4.13   Med: -2.49   Max: -2.12
Current: -2.57

During the past 13 years, the highest Beneish M-Score of Salam International Investment QSC was -2.12. The lowest was -4.13. And the median was -2.49.

Salam International Investment QSC Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Salam International Investment QSC's Beneish M-Score can be seen below:

* 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.

Salam International Investment QSC Beneish M-Score Chart

Salam International Investment QSC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.45 -2.52 -2.67 -2.35 -2.34

Salam International Investment QSC Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.34 -2.49 -2.48 -2.34 -2.57

DSMD:SIIS vs HON, MMM: Beneish M-Score Comparison

For the Conglomerates subindustry, Salam International Investment QSC's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Salam International Investment QSC Beneish M-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Salam International Investment QSC's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Salam International Investment QSC's Beneish M-Score falls into.


DSMD:SIIS
44GF Score
Salam International Investment Ltd QSC DSMD:SIIS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Salam International Investment QSC 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 Salam International Investment QSC 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 * 0.931+0.528 * 1.0413+0.404 * 1.0027+0.892 * 1.1307+0.115 * 0.4228
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1116+4.679 * -0.01651-0.327 * 0.9997
=-2.57

* 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 ر.ق844 Mil.
Revenue was 430.571 + 549.524 + 478.52 + 439.07 = ر.ق1,898 Mil.
Gross Profit was 124.656 + 142.759 + 121.031 + 120.876 = ر.ق509 Mil.
Total Current Assets was ر.ق1,498 Mil.
Total Assets was ر.ق4,637 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق360 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق24 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق66 Mil.
Total Current Liabilities was ر.ق983 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق1,859 Mil.
Net Income was 26.153 + 23.866 + 27.477 + 26.469 = ر.ق104 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ر.ق0 Mil.
Cash Flow from Operations was 106.073 + 0 + 0 + 74.451 = ر.ق181 Mil.
 Total Receivables was ر.ق801 Mil.
Revenue was 399.089 + 454.131 + 377.798 + 447.241 = ر.ق1,678 Mil.
Gross Profit was 118.186 + 121.448 + 105.386 + 124.026 = ر.ق469 Mil.
Total Current Assets was ر.ق1,390 Mil.
Total Assets was ر.ق4,529 Mil.
Property, Plant and Equipment(Net PPE) was ر.ق432 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ق12 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ق53 Mil.
Total Current Liabilities was ر.ق894 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ق1,883 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)
=(843.665 / 1897.685) / (801.404 / 1678.259)
=0.444576 / 0.477521
=0.931

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)
=(469.046 / 1678.259) / (509.322 / 1897.685)
=0.279484 / 0.268391
=1.0413

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 - (1497.92 + 359.526) / 4637.056) / (1 - (1389.955 + 431.551) / 4529.151)
=0.599434 / 0.597826
=1.0027

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
=1897.685 / 1678.259
=1.1307

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))
=(11.823 / (11.823 + 431.551)) / (24.199 / (24.199 + 359.526))
=0.026666 / 0.063063
=0.4228

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)
=(66.467 / 1897.685) / (52.88 / 1678.259)
=0.035025 / 0.031509
=1.1116

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)
=((1859.298 + 983.365) / 4637.056) / ((1883.263 + 893.979) / 4529.151)
=0.613032 / 0.613193
=0.9997

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
=(103.965 - 0 - 180.524) / 4637.056
=-0.01651

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.

Salam International Investment QSC has a M-score of -2.57 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 -2.57 mean?
Salam International Investment QSC (DSMD:SIIS) has a Beneish M-Score of -2.57 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Salam International Investment QSC and its competitors. According to the industry distribution chart, Salam International Investment QSC ranks #217 out of 542 companies in the Conglomerates industry, placing it in the top 40%.
Is Salam International Investment QSC's Beneish M-Score too high?
Salam International Investment QSC's current Beneish M-Score is -2.57. Based on the distribution chart, Salam International Investment QSC ranks #217 out of 542 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Salam International Investment QSC has a GF Score™ of 44/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Salam International Investment QSC's Beneish M-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, Salam International Investment QSC ranks #217 out of 542 companies for Beneish M-Score. This puts Salam International Investment QSC 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 a Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 Salam International Investment QSC and its competitors. Salam International Investment QSC's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Salam International Investment QSC stock overvalued right now?
Based on GuruFocus' analysis, Salam International Investment QSC (DSMD:SIIS) is currently considered Fairly Valued. The stock's GF Value™ is ر.ق0.82, compared to a current price of ر.ق0.78 — trading 4.5% below its estimated fair value. The current Beneish M-Score is -2.57. Salam International Investment QSC's overall GF Score™ is 44/100 with 7 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 Salam International Investment QSC (DSMD:SIIS), the current Beneish M-Score is -2.57 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 Salam International Investment QSC (DSMD:SIIS) Overvalued in 2026?

Based on GuruFocus' analysis, Salam International Investment QSC stock appears to be undervalued. The current stock price of ر.ق0.78 is trading 4.5% below its estimated GF Value™ of ر.ق0.82. GuruFocus considers Salam International Investment QSC to be Fairly Valued.

Key valuation signals for DSMD:SIIS:

  • Beneish M-Score: -2.57
  • GF Value™: ر.ق0.82 vs. price of ر.ق0.78 (4.5% below fair value)
  • GF Score™: 44/100 with 7 warning signs

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

Salam International Investment QSC Business Description

Address Omar Al Mukhtar Street, Salam Plaza Tower 1, The Gate Mall, Doha, QAT, 15224
Salam International Investment Ltd QSC establishes, incorporates, acquires, and owns enterprises in the contracting, energy and industry, consumer and luxury products, technology, real estate, and development sectors, and invests in securities in local and overseas markets. Its segment includes Interior and fit-out provides Civil contracting, mechanical, plumbing and electrical contracting and related services; Power and energy provides Oil and gas services including trading in chemical materials and maintenance of oil equipment; Luxury retail and distribution provides Retail and wholesale of luxury consumer products; Technology provides Information technology and related infrastructure project; and Real estate and investments provides Real estate operation and investment.
44GF Score

Get the complete analysis for DSMD:SIIS

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

ر.ق0.78
Price
ر.ق0.82
GF Value