Automated Systems Company (K.S.C.C) (KUW:ASC) Beneish M-Score: -0.84 (As of Jun. 25, 2026)

What is Automated Systems Company (K.S.C.C) Beneish M-Score?

Automated Systems Company (K.S.C.C) KUW:ASC +4.01% 32 Beneish M-Score is -0.84 as of Jun. 25, 2026. GuruFocus rates KUW:ASC with a GF Score™ of 32/100 and a GF Value™ of KWD0.21 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,633 Software companies, Automated Systems Company (K.S.C.C) ranks worse than 90.24% 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.

Warning Sign:

Beneish M-Score -0.84 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Automated Systems Company (K.S.C.C)'s Beneish M-Score or its related term are showing as below:

KUW:ASC' s Beneish M-Score Range Over the Past 10 Years
Min: -15.09 Med: -2.57 Max: 1.18
Current: -0.84

During the past 13 years, the highest Beneish M-Score of Automated Systems Company (K.S.C.C) was 1.18. The lowest was -15.09. And the median was -2.57.

Automated Systems Company (K.S.C.C) Beneish M-Score Related Terms

Automated Systems Company (K.S.C.C) Beneish M-Score Historical Data

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The historical data trend for Automated Systems Company (K.S.C.C)'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.

Automated Systems Company (K.S.C.C) Beneish M-Score Chart

Automated Systems Company (K.S.C.C) Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.56

-3.51

0.50

-0.99

-1.81

Automated Systems Company (K.S.C.C) 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															-1.67	-2.35	-1.88	-1.81	-0.84

KUW:ASC vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Automated Systems Company (K.S.C.C)'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.

Automated Systems Company (K.S.C.C) Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Automated Systems Company (K.S.C.C)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Automated Systems Company (K.S.C.C)'s Beneish M-Score falls into.

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32GF Score

Automated Systems Company Ltd (K.S.C.C) KUW:ASC

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Automated Systems Company (K.S.C.C) 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 Automated Systems Company (K.S.C.C) for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.8938

0.528 * 1.3828

0.404 * 0.8405

0.892 * 1.2548

0.115 * 0.7006

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9949

4.679 * 0.137581

0.327 * 1.4826

-0.84

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was KWD5.75 Mil.
Revenue was 1.027 + 2.424 + 0.912 + 0.995 = KWD5.36 Mil.
Gross Profit was 0.166 + 0.074 + 0.051 + 0.062 = KWD0.35 Mil.
Total Current Assets was KWD12.82 Mil.
Total Assets was KWD13.59 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.05 Mil.
Selling, General, & Admin. Expense(SGA) was KWD1.54 Mil.
Total Current Liabilities was KWD1.71 Mil.
Long-Term Debt & Capital Lease Obligation was KWD0.00 Mil.
Net Income was -0.114 + -0.128 + -0.117 + -0.185 = KWD-0.54 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Cash Flow from Operations was -0.8 + -0.635 + -0.8 + -0.179 = KWD-2.41 Mil.

Total Receivables was KWD2.42 Mil.
Revenue was 1.028 + 1.389 + 0.945 + 0.908 = KWD4.27 Mil.
Gross Profit was 0.039 + 0.161 + 0.097 + 0.092 = KWD0.39 Mil.
Total Current Assets was KWD12.55 Mil.
Total Assets was KWD13.51 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.15 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.05 Mil.
Selling, General, & Admin. Expense(SGA) was KWD1.23 Mil.
Total Current Liabilities was KWD1.15 Mil.
Long-Term Debt & Capital Lease Obligation was KWD0.00 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)
	=	(5.746 / 5.358)	/	(2.418 / 4.27)
	=	1.072415	/	0.566276
	=	1.8938

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)
	=	(0.389 / 4.27)	/	(0.353 / 5.358)
	=	0.091101	/	0.065883
	=	1.3828

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 - (12.82 + 0.086) / 13.592)	/	(1 - (12.547 + 0.147) / 13.505)
	=	0.050471	/	0.060052
	=	0.8405

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
	=	5.358	/	4.27
	=	1.2548

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))
	=	(0.051 / (0.051 + 0.147))	/	(0.05 / (0.05 + 0.086))
	=	0.257576	/	0.367647
	=	0.7006

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)
	=	(1.538 / 5.358)	/	(1.232 / 4.27)
	=	0.287047	/	0.288525
	=	0.9949

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)
	=	((0 + 1.713) / 13.592)	/	((0 + 1.148) / 13.505)
	=	0.12603	/	0.085006
	=	1.4826

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
	=	(-0.544 - 0	-	-2.414)	/	13.592
	=	0.137581

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.

Automated Systems Company (K.S.C.C) has a M-score of -0.84 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -0.84 mean?

Automated Systems Company (K.S.C.C) (KUW:ASC) has a Beneish M-Score of -0.84 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Automated Systems Company (K.S.C.C) and its competitors. According to the industry distribution chart, Automated Systems Company (K.S.C.C) ranks #2376 out of 2633 companies in the Software industry, placing it in the top 90.2%.

Is Automated Systems Company (K.S.C.C)'s Beneish M-Score too high?

Automated Systems Company (K.S.C.C)'s current Beneish M-Score is -0.84. Based on the distribution chart, Automated Systems Company (K.S.C.C) ranks #2376 out of 2633 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Automated Systems Company (K.S.C.C) has a GF Score™ of 32/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Automated Systems Company (K.S.C.C)'s Beneish M-Score compare to MSFT and ORCL?

According to the Software industry distribution chart, Automated Systems Company (K.S.C.C) ranks #2376 out of 2633 companies for Beneish M-Score. This places Automated Systems Company (K.S.C.C) 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 Software company?

A good Beneish M-Score depends on the Software 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 Automated Systems Company (K.S.C.C) and its competitors. Automated Systems Company (K.S.C.C)'s current Beneish M-Score is -0.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Automated Systems Company (K.S.C.C) stock overvalued right now?

Based on GuruFocus' analysis, Automated Systems Company (K.S.C.C) (KUW:ASC) is currently considered Significantly Overvalued. The stock's GF Value™ is KWD0.21, compared to a current price of KWD0.70 — trading 233.8% above its estimated fair value. The current Beneish M-Score is -0.84. Automated Systems Company (K.S.C.C)'s overall GF Score™ is 32/100 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 Automated Systems Company (K.S.C.C) (KUW:ASC), the current Beneish M-Score is -0.84 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 Automated Systems Company (K.S.C.C) (KUW:ASC) Overvalued in 2026?

Based on GuruFocus' analysis, Automated Systems Company (K.S.C.C) stock appears to be overvalued. The current stock price of KWD0.70 is trading 233.8% above its estimated GF Value™ of KWD0.21. GuruFocus considers Automated Systems Company (K.S.C.C) to be Significantly Overvalued.

Key valuation signals for KUW:ASC:

Beneish M-Score: -0.84
GF Value™: KWD0.21 vs. price of KWD0.70 (233.8% above fair value)
GF Score™: 32/100 with 7 warning signs

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

Automated Systems Company (K.S.C.C) Business Description

Industry Technology Software

Comparable Companies KUW:DIGITUS MSFT ORCL PLTR PANW CRWD FTNT SNPS HKSE:02513 NET CRWV XYZ XAMS:ADYEN NTAP TWLO MDB VRSN CPAY ZS AKAM

Address Free zone, Future Area, P.O.Box 27159, Plot No. 28B / 29B, Safat, Kuwait, KWT, 13132

Website http://www.asc-me.net

Automated Systems Company Ltd (K.S.C.C) operates in the IT (information technology) sector. It provides full end-to-end solution starting from cabling and network infrastructure up to the level of enterprise resource planning (ERP) implementation through specialized engineers. Its business activities are divided into three divisions including Global Distribution Systems, Services & Solutions and Engineering Solutions. The company offers various services including systems integration, in-house developed application and mobility solutions, IT managed services, consulting services, cloud computing, among others.

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KWD0.21

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