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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 -3.11 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Al Jazeera Steel Products CoOG's Beneish M-Score or its related term are showing as below:
MUS:ATMI'
s Beneish M-Score Range Over the Past 10 Years
Min: -118.44 Med: -3.01 Max: -2.29
Current: -3.11
During the past 13 years, the highest Beneish M-Score of Al Jazeera Steel Products CoOG was -2.29. The lowest was -118.44. And the median was -3.01.
Al Jazeera Steel Products CoOG Beneish M-Score Related Terms
Al Jazeera Steel Products CoOG Beneish M-Score Historical Data
* 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 Jazeera Steel Products CoOG Beneish M-Score Chart
MUS:ATMI vs NUE, STLD, RS: Beneish M-Score Comparison
For the Steel subindustry, Al Jazeera Steel Products CoOG'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 Jazeera Steel Products CoOG Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Al Jazeera Steel Products CoOG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Al Jazeera Steel Products CoOG's Beneish M-Score falls into.
Al Jazeera Steel Products CoOG 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 Jazeera Steel Products CoOG 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 * 0.9821
+
0.528 * 0.8796
+
0.404 * 0.3172
+
0.892 * 1.0257
+
0.115 * 1.1821
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0366
+
4.679 * -0.058378
-
0.327 * 1.1029
=
-3.11
* 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))
=
(1.939 / (1.939 + 47.318))
/
(2.521 / (2.521 + 73.181))
=
0.039365
/
0.033302
=
1.1821
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
=
(9.773 - 0
-
18.392)
/
147.64
=
-0.058378
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.
Al Jazeera Steel Products CoOG has a M-score of -3.11 suggests that the company is unlikely to be a manipulator.
Al Jazeera Steel Products CoOG (MUS:ATMI) has a Beneish M-Score of -3.11 as of Jul. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Al Jazeera Steel Products CoOG and its competitors. According to the industry distribution chart, Al Jazeera Steel Products CoOG ranks #88 out of 587 companies in the Steel industry, placing it in the top 15%.
Is Al Jazeera Steel Products CoOG's Beneish M-Score too high?
Al Jazeera Steel Products CoOG's current Beneish M-Score is -3.11. Based on the distribution chart, Al Jazeera Steel Products CoOG ranks #88 out of 587 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Al Jazeera Steel Products CoOG has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Al Jazeera Steel Products CoOG's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Al Jazeera Steel Products CoOG ranks #88 out of 587 companies for Beneish M-Score. This places Al Jazeera Steel Products CoOG in the top 15% 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Jazeera Steel Products CoOG and its competitors. Al Jazeera Steel Products CoOG's current Beneish M-Score is -3.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Al Jazeera Steel Products CoOG stock overvalued right now?
Based on GuruFocus' analysis, Al Jazeera Steel Products CoOG (MUS:ATMI) is currently considered Significantly Overvalued. The stock's GF Value™ is ر.ع0.31, compared to a current price of ر.ع0.83 — trading 166.1% above its estimated fair value. The current Beneish M-Score is -3.11. Al Jazeera Steel Products CoOG's overall GF Score™ is 73/100 with 5 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 Jazeera Steel Products CoOG (MUS:ATMI), the current Beneish M-Score is -3.11 as of Jul. 27, 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 Al Jazeera Steel Products CoOG (MUS:ATMI) Overvalued in 2026?
Based on GuruFocus' analysis, Al Jazeera Steel Products CoOG stock appears to be overvalued.
The current stock price of ر.ع0.83 is trading 166.1% above its estimated GF Value™ of ر.ع0.31.
GuruFocus considers Al Jazeera Steel Products CoOG to be Significantly Overvalued.
Key valuation signals for MUS:ATMI:
Beneish M-Score: -3.11
GF Value™: ر.ع0.31 vs. price of ر.ع0.83 (166.1% above fair value)
No single metric tells the full story. See the MUS:ATMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Al Jazeera Steel Products CoOG Business Description
Al Jazeera Steel Products Co SAOG is a steel manufacturing firm. It manufactures and sells steel tubes, pipes, and structural products, including associated work. It deals in products such as black pipes, galvanized pipes, hollow sections, rebars, CTL sheets, and merchant bars, among others. Geographically, the company generates the majority of its revenue from its regional market, with the remainder coming from international markets.
73GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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