Sohar International Bank (MUS:BKSB) Beneish M-Score: -2.30 (As of Jul. 10, 2026)


MUS:BKSB Sohar International Bank MUS:BKSB
38 GF Score
Price ر.ع0.19
GF Value ر.ع0.15
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Sohar International Bank Beneish M-Score?

Sohar International Bank MUS:BKSB -0.52% 38 Beneish M-Score is -2.30 as of Jul. 10, 2026. GuruFocus rates MUS:BKSB with a GF Score™ of 38/100 and a GF Value™ of ر.ع0.15 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 1,395 Banks companies, Sohar International Bank ranks worse than 67.46% 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 -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MUS:BKSB' s Beneish M-Score Range Over the Past 10 Years
Min: -3.15   Med: -2.44   Max: -1.58
Current: -2.3

During the past 13 years, the highest Beneish M-Score of Sohar International Bank was -1.58. The lowest was -3.15. And the median was -2.44.

MUS:BKSB
38GF Score
Sohar International Bank MUS:BKSB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sohar International Bank 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 Sohar International Bank 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 * 1.0018+0.892 * 1.029+0.115 * 1.0268
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.043038-0.327 * 1.1445
=-2.30

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ر.ع0.0 Mil.
Revenue was ر.ع252.0 Mil.
Gross Profit was ر.ع252.0 Mil.
Total Current Assets was ر.ع0.0 Mil.
Total Assets was ر.ع9,128.8 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع75.7 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع13.5 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع0.0 Mil.
Total Current Liabilities was ر.ع0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع720.9 Mil.
Net Income was ر.ع100.5 Mil.
Gross Profit was ر.ع0.0 Mil.
Cash Flow from Operations was ر.ع-292.4 Mil.
 Total Receivables was ر.ع0.0 Mil.
Revenue was ر.ع244.9 Mil.
Gross Profit was ر.ع244.9 Mil.
Total Current Assets was ر.ع0.0 Mil.
Total Assets was ر.ع7,360.8 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع74.4 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع13.7 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع0.0 Mil.
Total Current Liabilities was ر.ع0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع507.9 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 / 251.97) / (0 / 244.861)
=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)
=(244.861 / 244.861) / (251.97 / 251.97)
=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 + 75.695) / 9128.796) / (1 - (0 + 74.364) / 7360.751)
=0.991708 / 0.989897
=1.0018

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
=251.97 / 244.861
=1.029

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))
=(13.685 / (13.685 + 74.364)) / (13.501 / (13.501 + 75.695))
=0.155425 / 0.151363
=1.0268

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 / 251.97) / (0 / 244.861)
=0 / 0
=1

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)
=((720.943 + 0) / 9128.796) / ((507.918 + 0) / 7360.751)
=0.078975 / 0.069004
=1.1445

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
=(100.467 - 0 - -292.414) / 9128.796
=0.043038

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.

Sohar International Bank has a M-score of -2.30 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 -2.30 mean?
Sohar International Bank (MUS:BKSB) has a Beneish M-Score of -2.30 as of Jul. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sohar International Bank and its competitors. According to the industry distribution chart, Sohar International Bank ranks #941 out of 1395 companies in the Banks industry, placing it in the top 67.5%.
Is Sohar International Bank's Beneish M-Score too high?
Sohar International Bank's current Beneish M-Score is -2.30. Based on the distribution chart, Sohar International Bank ranks #941 out of 1395 companies in the Banks industry, which is below the industry midpoint. Overall, Sohar International Bank has a GF Score™ of 38/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sohar International Bank's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Sohar International Bank ranks #941 out of 1395 companies for Beneish M-Score. This places Sohar International Bank 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 Sohar International Bank and its competitors. Sohar International Bank's current Beneish M-Score is -2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sohar International Bank stock overvalued right now?
Based on GuruFocus' analysis, Sohar International Bank (MUS:BKSB) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.15, compared to a current price of ر.ع0.19 — trading 27.3% above its estimated fair value. The current Beneish M-Score is -2.30. Sohar International Bank's overall GF Score™ is 38/100 with 1 warning sign 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 Sohar International Bank (MUS:BKSB), the current Beneish M-Score is -2.30 as of Jul. 10, 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 Sohar International Bank (MUS:BKSB) Overvalued in 2026?

Based on GuruFocus' analysis, Sohar International Bank stock appears to be overvalued. The current stock price of ر.ع0.19 is trading 27.3% above its estimated GF Value™ of ر.ع0.15. GuruFocus considers Sohar International Bank to be Modestly Overvalued.

Key valuation signals for MUS:BKSB:

  • Beneish M-Score: -2.30
  • GF Value™: ر.ع0.15 vs. price of ر.ع0.19 (27.3% above fair value)
  • GF Score™: 38/100 with 1 warning sign

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

Sohar International Bank Business Description

Address Hai Al Mina, P.O. Box 44, Muscat, OMN, 114
Sohar International Bank is engaged in commercial, investment, and Islamic banking activities. It operates through the following business segments: Wholesale Banking, which derives key revenue and offers loans, working capital facilities, trade financing, cash management, custodial services, treasury, investment banking, and funds management services to corporates and other institutions; Retail Banking offers individual customers various products and services, including current and term deposits, housing finance, personal loans, insurance, credit cards, foreign exchange, etc.; KSA Branch provides wholesale banking services in Saudi Arabia; Islamic Banking offers shari'a compliant banking products and services; and Head office. Geographically, the company derives maximum revenue from Oman.
38GF Score

Get the complete analysis for MUS:BKSB

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

ر.ع0.19
Price
ر.ع0.15
GF Value