Commercial International Bank (Egypt) CIB (LSE:CBKD) Beneish M-Score: -2.08 (As of Jun. 26, 2026)


LSE:CBKD Commercial International Bank (Egypt) CIB LSE:CBKD
89 GF Score
Price $2.60
GF Value $2.27
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Commercial International Bank (Egypt) CIB Beneish M-Score?

Commercial International Bank (Egypt) CIB LSE:CBKD +0.39% 89 Beneish M-Score is -2.08 as of Jun. 26, 2026. GuruFocus rates LSE:CBKD with a GF Score™ of 89/100 and a GF Value™ of $2.27 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,397 Banks companies, Commercial International Bank (Egypt) CIB ranks worse than 88.19% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.08 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Commercial International Bank (Egypt) CIB's Beneish M-Score or its related term are showing as below:

LSE:CBKD' s Beneish M-Score Range Over the Past 10 Years
Min: -9.04   Med: -2.68   Max: -1.94
Current: -2.08

During the past 13 years, the highest Beneish M-Score of Commercial International Bank (Egypt) CIB was -1.94. The lowest was -9.04. And the median was -2.68.

LSE:CBKD
89GF Score
Commercial International Bank (Egypt) CIB LSE:CBKD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Commercial International Bank (Egypt) CIB 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 Commercial International Bank (Egypt) CIB 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+0.528 * 1+0.404 * 0.9997+0.892 * 1.3625+0.115 * 1.0143
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9971+4.679 * 0.028579-0.327 * 1.1106
=-2.06

* 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 $0 Mil.
Revenue was 700.15 + 682.962 + 643.103 + 586.426 = $2,613 Mil.
Gross Profit was 700.15 + 682.962 + 643.103 + 586.426 = $2,613 Mil.
Total Current Assets was $0 Mil.
Total Assets was $33,006 Mil.
Property, Plant and Equipment(Net PPE) was $327 Mil.
Depreciation, Depletion and Amortization(DDA) was $43 Mil.
Selling, General, & Admin. Expense(SGA) was $195 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $842 Mil.
Net Income was 375.09 + 423.856 + 596.599 + 334.862 = $1,730 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 1146.314 + -774.802 + 1829.436 + -1413.845 = $787 Mil.
 Total Receivables was $0 Mil.
Revenue was 539.656 + 277.475 + 557.71 + 542.633 = $1,917 Mil.
Gross Profit was 539.656 + 277.475 + 557.71 + 542.633 = $1,917 Mil.
Total Current Assets was $0 Mil.
Total Assets was $24,964 Mil.
Property, Plant and Equipment(Net PPE) was $241 Mil.
Depreciation, Depletion and Amortization(DDA) was $32 Mil.
Selling, General, & Admin. Expense(SGA) was $144 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $573 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 / 2612.641) / (0 / 1917.474)
=0 / 0
=1

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)
=(1917.474 / 1917.474) / (2612.641 / 2612.641)
=1 / 1
=1

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 - (0 + 326.981) / 33006.367) / (1 - (0 + 240.971) / 24964.427)
=0.990093 / 0.990347
=0.9997

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
=2612.641 / 1917.474
=1.3625

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))
=(31.955 / (31.955 + 240.971)) / (42.67 / (42.67 + 326.981))
=0.117083 / 0.115433
=1.0143

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)
=(195.047 / 2612.641) / (143.561 / 1917.474)
=0.074655 / 0.07487
=0.9971

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)
=((841.575 + 0) / 33006.367) / ((573.138 + 0) / 24964.427)
=0.025497 / 0.022958
=1.1106

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
=(1730.407 - 0 - 787.103) / 33006.367
=0.028579

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.

Commercial International Bank (Egypt) CIB has a M-score of -2.06 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.08 mean?
Commercial International Bank (Egypt) CIB (LSE:CBKD) has a Beneish M-Score of -2.08 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Commercial International Bank (Egypt) CIB and its competitors. According to the industry distribution chart, Commercial International Bank (Egypt) CIB ranks #1232 out of 1397 companies in the Banks industry, placing it in the top 88.2%.
Is Commercial International Bank (Egypt) CIB's Beneish M-Score too high?
Commercial International Bank (Egypt) CIB's current Beneish M-Score is -2.08. Based on the distribution chart, Commercial International Bank (Egypt) CIB ranks #1232 out of 1397 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Commercial International Bank (Egypt) CIB has a GF Score™ of 89/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Commercial International Bank (Egypt) CIB's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Commercial International Bank (Egypt) CIB ranks #1232 out of 1397 companies for Beneish M-Score. This places Commercial International Bank (Egypt) CIB 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Commercial International Bank (Egypt) CIB and its competitors. Commercial International Bank (Egypt) CIB's current Beneish M-Score is -2.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Commercial International Bank (Egypt) CIB stock overvalued right now?
Based on GuruFocus' analysis, Commercial International Bank (Egypt) CIB (LSE:CBKD) is currently considered Modestly Overvalued. The stock's GF Value™ is $2.27, compared to a current price of $2.60 — trading 14.3% above its estimated fair value. The current Beneish M-Score is -2.08. Commercial International Bank (Egypt) CIB's overall GF Score™ is 89/100 with 6 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 Commercial International Bank (Egypt) CIB (LSE:CBKD), the current Beneish M-Score is -2.08 as of Jun. 26, 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 Commercial International Bank (Egypt) CIB (LSE:CBKD) Overvalued in 2026?

Based on GuruFocus' analysis, Commercial International Bank (Egypt) CIB stock appears to be overvalued. The current stock price of $2.60 is trading 14.3% above its estimated GF Value™ of $2.27. GuruFocus considers Commercial International Bank (Egypt) CIB to be Modestly Overvalued.

Key valuation signals for LSE:CBKD:

  • Beneish M-Score: -2.08
  • GF Value™: $2.27 vs. price of $2.60 (14.3% above fair value)
  • GF Score™: 89/100 with 6 warning signs

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

Commercial International Bank (Egypt) CIB Business Description

Address 21/23 Charles De Gaulle Street, Nile Tower Building, Giza, EGY
Commercial International Bank (Egypt) CIB is a private-sector bank in Egypt. It provides retail, corporate and investment banking services to retail customers, high-net-worth individuals, and enterprises and institutions across Egypt. The company's business segments are: i) Corporate banking & SME's, Investment, Retail banking, Assets and liabilities management. The majority of the company's revenue is derived from the Corporate banking & SME's segment, which includes current account activities, deposits, overdrafts, loans, credit facilities, and financial derivatives to large, medium, and small entities, currency and derivative products.
89GF Score

Get the complete analysis for LSE:CBKD

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

$2.60
Price
$2.27
GF Value