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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 -3.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Integrated Holding Co's Beneish M-Score or its related term are showing as below:
KUW:INTEGRATED'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.57 Med: -2.82 Max: -1.67
Current: -3.39
During the past 10 years, the highest Beneish M-Score of Integrated Holding Co was -1.67. The lowest was -3.57. And the median was -2.82.
Integrated Holding Co Beneish M-Score Related Terms
Integrated Holding Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Integrated Holding Co'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.
KUW:INTEGRATED vs URI, SUNB, AER: Beneish M-Score Comparison
For the Rental & Leasing Services subindustry, Integrated Holding Co'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.
Integrated Holding Co Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Integrated Holding Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Integrated Holding Co's Beneish M-Score falls into.
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 Integrated 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 * 1.0558
+
0.528 * 1.1181
+
0.404 * 0.1922
+
0.892 * 0.9818
+
0.115 * 0.912
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9839
+
4.679 * -0.148982
-
0.327 * 0.9371
=
-3.39
* 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.
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.
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))
=
(11.163 / (11.163 + 87.815))
/
(11.873 / (11.873 + 84.134))
=
0.112783
/
0.123668
=
0.912
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
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
=
(4.694 - 0
-
20.728)
/
107.624
=
-0.148982
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.
Integrated Holding Co has a M-score of -3.39 suggests that the company is unlikely to be a manipulator.
Integrated Holding Co (KUW:INTEGRATED) has a Beneish M-Score of -3.39 as of Aug. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Integrated Holding Co and its competitors. According to the industry distribution chart, Integrated Holding Co ranks #109 out of 1016 companies in the Business Services industry, placing it in the top 10.7%.
Is Integrated Holding Co's Beneish M-Score too high?
Integrated Holding Co's current Beneish M-Score is -3.39. Based on the distribution chart, Integrated Holding Co ranks #109 out of 1016 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Integrated Holding Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Integrated Holding Co's Beneish M-Score compare to URI and SUNB?
According to the Business Services industry distribution chart, Integrated Holding Co ranks #109 out of 1016 companies for Beneish M-Score. This places Integrated Holding Co in the top 11% 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Integrated Holding Co and its competitors. Integrated Holding Co's current Beneish M-Score is -3.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Integrated Holding Co stock overvalued right now?
Based on GuruFocus' analysis, Integrated Holding Co (KUW:INTEGRATED) is currently considered Modestly Undervalued. The stock's GF Value™ is KWD0.51, compared to a current price of KWD0.39 — trading 23.1% below its estimated fair value. The current Beneish M-Score is -3.39. Integrated Holding Co's overall GF Score™ is 64/100 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 Integrated Holding Co (KUW:INTEGRATED), the current Beneish M-Score is -3.39 as of Aug. 31, 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 Integrated Holding Co (KUW:INTEGRATED) Overvalued in 2026?
Based on GuruFocus' analysis, Integrated Holding Co stock appears to be undervalued.
The current stock price of KWD0.39 is trading 23.1% below its estimated GF Value™ of KWD0.51.
GuruFocus considers Integrated Holding Co to be Modestly Undervalued.
Key valuation signals for KUW:INTEGRATED:
Beneish M-Score: -3.39
GF Value™: KWD0.51 vs. price of KWD0.39 (23.1% below fair value)
No single metric tells the full story. See the KUW:INTEGRATED stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Integrated Holding Co is an investment management company. Its activities consist of the provision of equipment hire and transportation services. Its services include Equipment Leasing & Hiring Services, Heavy Lifting Services, Heavy Transport (Haulage), Earth Moving, Industrial Equipment Services, Rig Move Services, Energy Services - Power Rentals, Shutdown Management Services, Port Operations, and Equipment. The group is organized into business units based on its geographies and has two reportable segments, Inside Kuwait and Outside Kuwait. It derives the majority of its revenue from Outside Kuwait.
64GF Score
Get the complete analysis for KUW:INTEGRATED
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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