Alimtiaz Group Holding Co (KUW:ALIMTIAZ) Beneish M-Score: -3.64 (As of Jul. 11, 2026)


What is Alimtiaz Group Holding Co Beneish M-Score?

Alimtiaz Group Holding Co KUW:ALIMTIAZ +1.05% Beneish M-Score is -3.64 as of Jul. 11, 2026. The stock has 4 warning signs investors should review. Among 953 Asset Management companies, Alimtiaz Group Holding Co ranks better than 90.66% 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 -3.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Alimtiaz Group Holding Co's Beneish M-Score or its related term are showing as below:

KUW:ALIMTIAZ' s Beneish M-Score Range Over the Past 10 Years
Min: -5.51   Med: -2.71   Max: -0.16
Current: -3.64

During the past 13 years, the highest Beneish M-Score of Alimtiaz Group Holding Co was -0.16. The lowest was -5.51. And the median was -2.71.

Alimtiaz Group Holding Co 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 Alimtiaz Group Holding Co 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 * 0.9743+0.892 * 1.3546+0.115 * 1.0198
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6728+4.679 * -0.32418-0.327 * 1.0283
=-3.64

* 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 KWD0.00 Mil.
Revenue was 21.547 + 7.007 + 10.569 + 18.844 = KWD57.97 Mil.
Gross Profit was 21.547 + 7.007 + 10.569 + 18.844 = KWD57.97 Mil.
Total Current Assets was KWD0.00 Mil.
Total Assets was KWD176.44 Mil.
Property, Plant and Equipment(Net PPE) was KWD20.04 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD1.26 Mil.
Selling, General, & Admin. Expense(SGA) was KWD54.59 Mil.
Total Current Liabilities was KWD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was KWD21.61 Mil.
Net Income was 1.048 + -28.334 + -15.522 + 1.242 = KWD-41.57 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Cash Flow from Operations was 3.793 + -1.22 + 11.991 + 1.068 = KWD15.63 Mil.
 Total Receivables was KWD0.00 Mil.
Revenue was -6.816 + 17.457 + 16.244 + 15.907 = KWD42.79 Mil.
Gross Profit was -6.816 + 17.457 + 16.244 + 15.907 = KWD42.79 Mil.
Total Current Assets was KWD0.00 Mil.
Total Assets was KWD222.48 Mil.
Property, Plant and Equipment(Net PPE) was KWD20.06 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD1.29 Mil.
Selling, General, & Admin. Expense(SGA) was KWD59.89 Mil.
Total Current Liabilities was KWD0.00 Mil.
Long-Term Debt & Capital Lease Obligation was KWD26.50 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 / 57.967) / (0 / 42.792)
=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)
=(42.792 / 42.792) / (57.967 / 57.967)
=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 + 20.042) / 176.439) / (1 - (0 + 20.063) / 222.479)
=0.886408 / 0.909821
=0.9743

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
=57.967 / 42.792
=1.3546

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))
=(1.292 / (1.292 + 20.063)) / (1.264 / (1.264 + 20.042))
=0.060501 / 0.059326
=1.0198

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)
=(54.588 / 57.967) / (59.891 / 42.792)
=0.941708 / 1.399584
=0.6728

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)
=((21.609 + 0) / 176.439) / ((26.498 + 0) / 222.479)
=0.122473 / 0.119103
=1.0283

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
=(-41.566 - 0 - 15.632) / 176.439
=-0.32418

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.

Alimtiaz Group Holding Co has a M-score of -3.64 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 -3.64 mean?
Alimtiaz Group Holding Co (KUW:ALIMTIAZ) has a Beneish M-Score of -3.64 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alimtiaz Group Holding Co and its competitors. According to the industry distribution chart, Alimtiaz Group Holding Co ranks #89 out of 953 companies in the Asset Management industry, placing it in the top 9.3%.
Is Alimtiaz Group Holding Co's Beneish M-Score too high?
Alimtiaz Group Holding Co's current Beneish M-Score is -3.64. Based on the distribution chart, Alimtiaz Group Holding Co ranks #89 out of 953 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers.
How does Alimtiaz Group Holding Co's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Alimtiaz Group Holding Co ranks #89 out of 953 companies for Beneish M-Score. This places Alimtiaz Group Holding Co in the top 9% 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Alimtiaz Group Holding Co and its competitors. Alimtiaz Group Holding Co's current Beneish M-Score is -3.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alimtiaz Group Holding Co stock overvalued right now?
Based on GuruFocus' analysis, Alimtiaz Group Holding Co (KUW:ALIMTIAZ) is currently considered Significantly Overvalued. The stock's GF Value™ is KWD0.05, compared to a current price of KWD0.08 — trading 54.2% above its estimated fair value. The current Beneish M-Score is -3.64. 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 Alimtiaz Group Holding Co (KUW:ALIMTIAZ), the current Beneish M-Score is -3.64 as of Jul. 11, 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.

Alimtiaz Group Holding Co Business Description

Address Sharq, Khaled Bin Al Waleed Street, Al Dhow Tower, P.O. Box: 29050, Kuwait, KWT, 13151
Alimtiaz Group Holding Co is an investment holding company, managing a diversified portfolio of direct investments in operating assets across multiple sectors and in various geographic locations.