Osoul Investment Co (KUW:OSOUL) Beneish M-Score : 11.55 (As of Apr. 07, 2025)

View and export this data going back to 2003. Start your Free Trial

What is Osoul Investment Co Beneish M-Score?

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 11.55 higher than -1.78, which implies that the company might have manipulated its financial results.

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

KUW:OSOUL' s Beneish M-Score Range Over the Past 10 Years
Min: -5.85 Med: -2.26 Max: 11.55
Current: 11.55

During the past 13 years, the highest Beneish M-Score of Osoul Investment Co was 11.55. The lowest was -5.85. And the median was -2.26.

Osoul Investment Co Beneish M-Score Historical Data

The historical data trend for Osoul Investment 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.

* Premium members only.

Osoul Investment Co Beneish M-Score Chart

Osoul Investment Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.57

-2.73

-3.24

Osoul Investment Co Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-3.89	-3.24	-0.81	5.11	11.55

Competitive Comparison of Osoul Investment Co's Beneish M-Score

For the Asset Management subindustry, Osoul Investment 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.

Osoul Investment Co's Beneish M-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Osoul Investment Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Osoul Investment Co's Beneish M-Score falls into.

Save Embed

;

Save Embed

;

Osoul Investment 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 Osoul Investment Co 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 * 15.6521

0.528 * 0.9965

0.404 * 0.9504

0.892 * 1.1816

0.115 * 0.6932

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.209

4.679 * 0.104649

0.327 * 1.0109

11.55

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was KWD3.33 Mil.
Revenue was 0 + 1.44 + -0.006 + 0.017 = KWD1.45 Mil.
Gross Profit was -0.08 + 1.358 + -0.086 + -0.177 = KWD1.02 Mil.
Total Current Assets was KWD9.34 Mil.
Total Assets was KWD18.26 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.14 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.07 Mil.
Total Current Liabilities was KWD1.52 Mil.
Long-Term Debt & Capital Lease Obligation was KWD4.50 Mil.
Net Income was -0.332 + 0.768 + -0.253 + 0.417 = KWD0.60 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Cash Flow from Operations was -0.049 + 0.019 + -0.585 + -0.696 = KWD-1.31 Mil.

Total Receivables was KWD0.18 Mil.
Revenue was 0.065 + 1.333 + -0.038 + -0.132 = KWD1.23 Mil.
Gross Profit was -0.014 + 1.249 + -0.118 + -0.261 = KWD0.86 Mil.
Total Current Assets was KWD9.60 Mil.
Total Assets was KWD19.91 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.11 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.14 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.05 Mil.
Total Current Liabilities was KWD1.72 Mil.
Long-Term Debt & Capital Lease Obligation was KWD4.77 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)
	=	(3.329 / 1.451)	/	(0.18 / 1.228)
	=	2.29428	/	0.14658
	=	15.6521

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)
	=	(0.856 / 1.228)	/	(1.015 / 1.451)
	=	0.697068	/	0.699518
	=	0.9965

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 - (9.335 + 0.033) / 18.261)	/	(1 - (9.599 + 0.107) / 19.905)
	=	0.486994	/	0.512384
	=	0.9504

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
	=	1.451	/	1.228
	=	1.1816

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))
	=	(0.135 / (0.135 + 0.107))	/	(0.136 / (0.136 + 0.033))
	=	0.557851	/	0.804734
	=	0.6932

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)
	=	(0.07 / 1.451)	/	(0.049 / 1.228)
	=	0.048243	/	0.039902
	=	1.209

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)
	=	((4.5 + 1.517) / 18.261)	/	((4.766 + 1.722) / 19.905)
	=	0.3295	/	0.325948
	=	1.0109

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
	=	(0.6 - 0	-	-1.311)	/	18.261
	=	0.104649

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.

Osoul Investment Co has a M-score of 11.55 signals that the company is likely to be a manipulator.

Osoul Investment Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Osoul Investment Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Osoul Investment Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Osoul Investment Co (KUW:OSOUL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Al-Shuhada Street, Al-Raya Center 1 Floor 25, Kuwait City, KWT

Website

http://www.osoulinvestment.com

Osoul Investment Co is a Kuwait-based company involved in financing and investment activities such as Investment portfolio management. Its activity includes investing. in the real estate, industrial, agricultural, and other economic sectors, Securities trading operations such as buying and selling shares and bonds of companies, Dealing and trading in the foreign exchange market and the precious metals market.

Osoul Investment Co Headlines

No Headlines