Sanam Group Holding Co KPSC (KUW:SANAM) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


KUW:SANAM Sanam Group Holding Co KPSC KUW:SANAM
7 GF Score
Price KWD0.34
! 3 Warning Signs
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What is Sanam Group Holding Co KPSC Beneish M-Score?

Sanam Group Holding Co KPSC KUW:SANAM 7 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates KUW:SANAM with a GF Score™ of 7/100. The stock has 3 warning signs investors should review. Among 86 Diversified Financial Services companies, Sanam Group Holding Co KPSC ranks worse than 1162789.53% 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 Sanam Group Holding Co KPSC's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Sanam Group Holding Co KPSC was 60.86. The lowest was -11.06. And the median was -2.56.

Sanam Group Holding Co KPSC Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sanam Group Holding Co KPSC'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.

Sanam Group Holding Co KPSC Beneish M-Score Chart

Sanam Group Holding Co KPSC 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 -2.47 60.86 -3.18 0.00 0.00

Sanam Group Holding Co KPSC 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 0.00 0.00 0.00 0.00

KUW:SANAM vs FRHC, VOYA: Beneish M-Score Comparison

For the Financial Conglomerates subindustry, Sanam Group Holding Co KPSC'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.

Sanam Group Holding Co KPSC Beneish M-Score vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Sanam Group Holding Co KPSC's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sanam Group Holding Co KPSC's Beneish M-Score falls into.


KUW:SANAM
7GF Score
Sanam Group Holding Co KPSC KUW:SANAM
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sanam Group Holding Co KPSC 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 Sanam Group Holding Co KPSC 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 KWD0.17 Mil.
Revenue was 0 + 0 + 0 + 0.267 = KWD0.27 Mil.
Gross Profit was -0.057 + -0.155 + -0.144 + 0.057 = KWD-0.30 Mil.
Total Current Assets was KWD5.04 Mil.
Total Assets was KWD25.53 Mil.
Property, Plant and Equipment(Net PPE) was KWD0.35 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.02 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.51 Mil.
Total Current Liabilities was KWD0.57 Mil.
Long-Term Debt & Capital Lease Obligation was KWD0.00 Mil.
Net Income was 0.435 + 0.577 + 1.067 + 0.273 = KWD2.35 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Cash Flow from Operations was -0.014 + 1.866 + -2.294 + -0.098 = KWD-0.54 Mil.
 Total Receivables was KWD0.43 Mil.
Revenue was 0 + 0 + 0 + 0 = KWD0.00 Mil.
Gross Profit was -0.059 + -0.041 + -0.08 + 0 = KWD-0.18 Mil.
Total Current Assets was KWD2.09 Mil.
Total Assets was KWD12.32 Mil.
Property, Plant and Equipment(Net PPE) was KWD1.75 Mil.
Depreciation, Depletion and Amortization(DDA) was KWD0.01 Mil.
Selling, General, & Admin. Expense(SGA) was KWD0.12 Mil.
Total Current Liabilities was KWD0.26 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)
=(0.172 / 0.267) / (0.428 / 0)
=0.644195 /
=

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)
=(-0.18 / 0) / (-0.299 / 0.267)
= / -1.11985
=

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 - (5.037 + 0.349) / 25.529) / (1 - (2.089 + 1.752) / 12.316)
=0.789024 / 0.688129
=

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
=0.267 / 0
=

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))
=(0.012 / (0.012 + 1.752)) / (0.015 / (0.015 + 0.349))
=0.006803 / 0.041209
=

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)
=(0.508 / 0.267) / (0.116 / 0)
=1.902622 /
=

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 + 0.567) / 25.529) / ((0 + 0.261) / 12.316)
=0.02221 / 0.021192
=

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
=(2.352 - 0 - -0.54) / 25.529
=0.113283

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?
Sanam Group Holding Co KPSC (KUW:SANAM) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sanam Group Holding Co KPSC and its competitors. According to the industry distribution chart, Sanam Group Holding Co KPSC ranks #999999 out of 86 companies in the Diversified Financial Services industry.
Is Sanam Group Holding Co KPSC's Beneish M-Score too high?
Sanam Group Holding Co KPSC's current Beneish M-Score is 0.00. Based on the distribution chart, Sanam Group Holding Co KPSC ranks #999999 out of 86 companies in the Diversified Financial Services industry, which is in the bottom quartile relative to peers. Overall, Sanam Group Holding Co KPSC has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does Sanam Group Holding Co KPSC's Beneish M-Score compare to FRHC and VOYA?
According to the Diversified Financial Services industry distribution chart, Sanam Group Holding Co KPSC ranks #999999 out of 86 companies for Beneish M-Score. This places Sanam Group Holding Co KPSC 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 Diversified Financial Services company?
A good Beneish M-Score depends on the Diversified Financial 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 Sanam Group Holding Co KPSC and its competitors. Sanam Group Holding Co KPSC'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 Sanam Group Holding Co KPSC stock overvalued right now?
Sanam Group Holding Co KPSC (KUW:SANAM) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Sanam Group Holding Co KPSC's overall GF Score™ is 7/100 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 Sanam Group Holding Co KPSC (KUW:SANAM), the current Beneish M-Score is 0.00 as of Jun. 28, 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.

Sanam Group Holding Co KPSC Business Description

Address Salhia, Muhammad Al Thannayan Al Ghanem Street, Salhiya Complex, Gate 1, Floor 5, P.O Box 491, SOUK DAKHLI, Kuwait City, KWT, 15254
Sanam Group Holding Co KPSC operates as a holding company. The company has three operating segments: the real estate, investment and ready mixed concrete production segments. The company generates majority of the revenue from investment segment.
7GF Score

Get the complete analysis for KUW:SANAM

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

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