Bank NizwaOG (MUS:BKNZ) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


MUS:BKNZ Bank Nizwa SAOG MUS:BKNZ
22 GF Score
Price ر.ع0.13
GF Value ر.ع0.11
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is Bank NizwaOG Beneish M-Score?

Bank NizwaOG MUS:BKNZ -1.47% 22 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates MUS:BKNZ with a GF Score™ of 22/100 and a GF Value™ of ر.ع0.11 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,399 Banks companies, Bank NizwaOG ranks worse than 71479.56% 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.

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

During the past 13 years, the highest Beneish M-Score of Bank NizwaOG was -2.08. The lowest was -2.48. And the median was -2.29.

MUS:BKNZ
22GF Score
Bank Nizwa SAOG MUS:BKNZ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bank NizwaOG 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 Bank NizwaOG 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 (Jun24) TTM:
Total Receivables was ر.ع0.00 Mil.
Revenue was 16.077 + 0 + 14.425 + 0 = ر.ع30.50 Mil.
Gross Profit was 16.077 + 0 + 14.425 + 0 = ر.ع30.50 Mil.
Total Current Assets was ر.ع0.00 Mil.
Total Assets was ر.ع2,039.29 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع176.98 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع1.50 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع1.16 Mil.
Total Current Liabilities was ر.ع0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع0.00 Mil.
Net Income was 2.605 + 0 + 4.516 + 0 = ر.ع7.12 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ر.ع0.00 Mil.
Cash Flow from Operations was -15.33 + 0 + -23.606 + 0 = ر.ع-38.94 Mil.
 Total Receivables was ر.ع0.00 Mil.
Revenue was 13.583 + 13.575 + 38.961 + 13.517 = ر.ع79.64 Mil.
Gross Profit was 13.583 + 13.575 + 38.961 + 13.517 = ر.ع79.64 Mil.
Total Current Assets was ر.ع0.00 Mil.
Total Assets was ر.ع1,672.86 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع225.10 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع2.86 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع2.70 Mil.
Total Current Liabilities was ر.ع0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع0.00 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 / 30.502) / (0 / 79.636)
=0 / 0
=

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)
=(79.636 / 79.636) / (30.502 / 30.502)
=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 + 176.978) / 2039.293) / (1 - (0 + 225.104) / 1672.864)
=0.913216 / 0.865438
=

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
=30.502 / 79.636
=

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))
=(2.861 / (2.861 + 225.104)) / (1.498 / (1.498 + 176.978))
=0.01255 / 0.008393
=

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)
=(1.16 / 30.502) / (2.698 / 79.636)
=0.03803 / 0.033879
=

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) / 2039.293) / ((0 + 0) / 1672.864)
=0 / 0
=

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
=(7.121 - 0 - -38.936) / 2039.293
=0.022585

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?
Bank NizwaOG (MUS:BKNZ) 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 Bank NizwaOG and its competitors. According to the industry distribution chart, Bank NizwaOG ranks #999999 out of 1399 companies in the Banks industry.
Is Bank NizwaOG's Beneish M-Score too high?
Bank NizwaOG's current Beneish M-Score is 0.00. Based on the distribution chart, Bank NizwaOG ranks #999999 out of 1399 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Bank NizwaOG has a GF Score™ of 22/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bank NizwaOG's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Bank NizwaOG ranks #999999 out of 1399 companies for Beneish M-Score. This places Bank NizwaOG 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 Bank NizwaOG and its competitors. Bank NizwaOG'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 Bank NizwaOG stock overvalued right now?
Based on GuruFocus' analysis, Bank NizwaOG (MUS:BKNZ) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.11, compared to a current price of ر.ع0.13 — trading 21.8% above its estimated fair value. The current Beneish M-Score is 0.00. Bank NizwaOG's overall GF Score™ is 22/100 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 Bank NizwaOG (MUS:BKNZ), 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.

Is Bank NizwaOG (MUS:BKNZ) Overvalued in 2026?

Based on GuruFocus' analysis, Bank NizwaOG stock appears to be overvalued. The current stock price of ر.ع0.13 is trading 21.8% above its estimated GF Value™ of ر.ع0.11. GuruFocus considers Bank NizwaOG to be Modestly Overvalued.

Key valuation signals for MUS:BKNZ:

  • Beneish M-Score: 0.00
  • GF Value™: ر.ع0.11 vs. price of ر.ع0.13 (21.8% above fair value)
  • GF Score™: 22/100 with 3 warning signs

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

Bank NizwaOG Business Description

Address Beach One Building, Shatti A Qurum, P.O. Box 1423, Al khuwair, Muscat, OMN, 133
Bank Nizwa SAOG is engaged in opening current, savings, and investment accounts, providing Murabaha and Ijara financing and other Sharia-compliant financing, as well as managing investors' money based on Mudaraba for profit share or agency for a fee, along with other investment activities. It segments are: Retail Banking, offering products and facilities to individual customers; Corporate Banking, providing financing, deposits, trade finance, and foreign exchange services to corporate and SMEs and generating key revenue; and Treasury and Investment Banking, offering treasury products, money market and foreign exchange services, liquidity and market risk management, asset management, corporate advisory, and investment products for high net worth individuals and institutional clients.
22GF Score

Get the complete analysis for MUS:BKNZ

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

ر.ع0.13
Price
ر.ع0.11
GF Value