AL Madar Kuwait Holding Co KSCP (KUW:MADAR) Beneish M-Score: 0.00 (As of Jun. 30, 2026)


KUW:MADAR AL Madar Kuwait Holding Co KSCP KUW:MADAR
12 GF Score
Price KWD0.13
! 3 Warning Signs
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What is AL Madar Kuwait Holding Co KSCP Beneish M-Score?

AL Madar Kuwait Holding Co KSCP KUW:MADAR -2.29% 12 Beneish M-Score is 0.00 as of Jun. 30, 2026. GuruFocus rates KUW:MADAR with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 1,684 Real Estate companies, AL Madar Kuwait Holding Co KSCP ranks worse than 59382.36% 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.

The historical rank and industry rank for AL Madar Kuwait Holding Co KSCP's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of AL Madar Kuwait Holding Co KSCP was 97.26. The lowest was -2.85. And the median was 1.66.

AL Madar Kuwait Holding Co KSCP Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AL Madar Kuwait Holding Co KSCP'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.

AL Madar Kuwait Holding Co KSCP Beneish M-Score Chart

AL Madar Kuwait Holding Co KSCP 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 -2.85 0.00 0.00 0.00 -1.15

AL Madar Kuwait Holding Co KSCP 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 0.00 -1.61 0.08 -1.15 0.00

KUW:MADAR vs CBRE, BEKE, JLL: Beneish M-Score Comparison

For the Real Estate Services subindustry, AL Madar Kuwait Holding Co KSCP'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.

AL Madar Kuwait Holding Co KSCP Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, AL Madar Kuwait Holding Co KSCP's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where AL Madar Kuwait Holding Co KSCP's Beneish M-Score falls into.


KUW:MADAR
12GF Score
AL Madar Kuwait Holding Co KSCP KUW:MADAR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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AL Madar Kuwait Holding Co KSCP 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 AL Madar Kuwait Holding Co KSCP 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 KWD0.04 Mil.
Revenue was 0.164 + -0.642 + 0.221 + 0.219 = KWD-0.04 Mil.
Gross Profit was 0.112 + -0.569 + 0.19 + 0.191 = KWD-0.08 Mil.
Total Current Assets was KWD2.10 Mil.
Total Assets was KWD25.86 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.00 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.63 Mil.
Total Current Liabilities was KWD0.84 Mil.
Long-Term Debt & Capital Lease Obligation was KWD0.75 Mil.
Net Income was 0.061 + -0.069 + -0.025 + 0.105 = KWD0.07 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Cash Flow from Operations was -0.899 + -0.001 + -0.66 + -0.113 = KWD-1.67 Mil.
 Total Receivables was KWD0.06 Mil.
Revenue was 0.24 + -0.53 + 0.184 + 0.196 = KWD0.09 Mil.
Gross Profit was 0.216 + -0.403 + 0.099 + 0.168 = KWD0.08 Mil.
Total Current Assets was KWD0.54 Mil.
Total Assets was KWD27.43 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.00 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.68 Mil.
Total Current Liabilities was KWD2.75 Mil.
Long-Term Debt & Capital Lease Obligation was KWD0.82 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)
=(0.035 / -0.038) / (0.064 / 0.09)
= / 0.711111
=

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)
=(0.08 / 0.09) / (-0.076 / -0.038)
=0.888889 /
=

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 - (2.097 + 0) / 25.855) / (1 - (0.542 + 0) / 27.434)
=0.918894 / 0.980243
=

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
=-0.038 / 0.09
=

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 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=(0.632 / -0.038) / (0.681 / 0.09)
= / 7.566667
=

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)
=((0.748 + 0.844) / 25.855) / ((0.824 + 2.748) / 27.434)
=0.061574 / 0.130203
=

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
=(0.072 - 0 - -1.673) / 25.855
=0.067492

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
AL Madar Kuwait Holding Co KSCP (KUW:MADAR) has a Beneish M-Score of 0.00 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AL Madar Kuwait Holding Co KSCP and its competitors. According to the industry distribution chart, AL Madar Kuwait Holding Co KSCP ranks #999999 out of 1684 companies in the Real Estate industry.
Is AL Madar Kuwait Holding Co KSCP's Beneish M-Score too high?
AL Madar Kuwait Holding Co KSCP's current Beneish M-Score is 0.00. Based on the distribution chart, AL Madar Kuwait Holding Co KSCP ranks #999999 out of 1684 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, AL Madar Kuwait Holding Co KSCP has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does AL Madar Kuwait Holding Co KSCP's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, AL Madar Kuwait Holding Co KSCP ranks #999999 out of 1684 companies for Beneish M-Score. This places AL Madar Kuwait Holding Co KSCP 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 AL Madar Kuwait Holding Co KSCP and its competitors. AL Madar Kuwait Holding Co KSCP's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AL Madar Kuwait Holding Co KSCP stock overvalued right now?
AL Madar Kuwait Holding Co KSCP (KUW:MADAR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. AL Madar Kuwait Holding Co KSCP's overall GF Score™ is 12/100 with 3 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 AL Madar Kuwait Holding Co KSCP (KUW:MADAR), the current Beneish M-Score is 0.00 as of Jun. 30, 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.

AL Madar Kuwait Holding Co KSCP Business Description

Address Ali Al Salem Street, Block No. 11, P.O. Box 1376, Building No. 21, Al Faris Commercial Tower, Al Qibla Area, Mezzanine Floor, Safat, KWT, 13014
AL Madar Kuwait Holding Co KSCP is an investment and finance company. The group is engaged in managing investment portfolios and conducting real estate investments for companies and individuals. The group is organized into business segments: Investment properties, Investment, and Others. It generates the majority of the revenue from the Investment properties segment, which includes buying, selling, capital appreciation, and investing in real estate.
12GF Score

Get the complete analysis for KUW:MADAR

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

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