United Finance CoOG (MUS:UFCI) Beneish M-Score: -2.17 (As of Jul. 02, 2026)


What is United Finance CoOG Beneish M-Score?

United Finance CoOG MUS:UFCI +1.08% Beneish M-Score is -2.17 as of Jul. 02, 2026. The stock has 5 warning signs investors should review. Among 483 Credit Services companies, United Finance CoOG ranks worse than 51.55% 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 -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MUS:UFCI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.14   Med: -2.58   Max: -2.03
Current: -2.17

During the past 13 years, the highest Beneish M-Score of United Finance CoOG was -2.03. The lowest was -3.14. And the median was -2.58.

United Finance 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 United Finance 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 * 1+0.528 * 1+0.404 * 1.0013+0.892 * 1.1053+0.115 * 0.7876
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9144+4.679 * 0.049438-0.327 * 1.0048
=-2.17

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was ر.ع0.00 Mil.
Revenue was ر.ع6.97 Mil.
Gross Profit was ر.ع6.97 Mil.
Total Current Assets was ر.ع0.00 Mil.
Total Assets was ر.ع110.60 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع2.34 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع0.15 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع0.19 Mil.
Total Current Liabilities was ر.ع0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع46.49 Mil.
Net Income was ر.ع2.08 Mil.
Gross Profit was ر.ع0.00 Mil.
Cash Flow from Operations was ر.ع-3.39 Mil.
 Total Receivables was ر.ع0.00 Mil.
Revenue was ر.ع6.31 Mil.
Gross Profit was ر.ع6.31 Mil.
Total Current Assets was ر.ع0.00 Mil.
Total Assets was ر.ع103.78 Mil.
Property, Plant and Equipment(Net PPE) was ر.ع2.33 Mil.
Depreciation, Depletion and Amortization(DDA) was ر.ع0.11 Mil.
Selling, General, & Admin. Expense(SGA) was ر.ع0.19 Mil.
Total Current Liabilities was ر.ع0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ر.ع43.41 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 / 6.97) / (0 / 6.306)
=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)
=(6.306 / 6.306) / (6.97 / 6.97)
=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 + 2.343) / 110.603) / (1 - (0 + 2.333) / 103.779)
=0.978816 / 0.97752
=1.0013

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
=6.97 / 6.306
=1.1053

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))
=(0.113 / (0.113 + 2.333)) / (0.146 / (0.146 + 2.343))
=0.046198 / 0.058658
=0.7876

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)
=(0.19 / 6.97) / (0.188 / 6.306)
=0.02726 / 0.029813
=0.9144

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)
=((46.486 + 0) / 110.603) / ((43.408 + 0) / 103.779)
=0.420296 / 0.418273
=1.0048

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
=(2.081 - 0 - -3.387) / 110.603
=0.049438

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.

United Finance CoOG has a M-score of -2.17 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 -2.17 mean?
United Finance CoOG (MUS:UFCI) has a Beneish M-Score of -2.17 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Finance CoOG and its competitors. According to the industry distribution chart, United Finance CoOG ranks #249 out of 483 companies in the Credit Services industry, placing it in the top 51.6%.
Is United Finance CoOG's Beneish M-Score too high?
United Finance CoOG's current Beneish M-Score is -2.17. Based on the distribution chart, United Finance CoOG ranks #249 out of 483 companies in the Credit Services industry, which is below the industry midpoint.
How does United Finance CoOG's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, United Finance CoOG ranks #249 out of 483 companies for Beneish M-Score. This places United Finance CoOG 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 Credit Services company?
A good Beneish M-Score depends on the Credit 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 United Finance CoOG and its competitors. United Finance CoOG's current Beneish M-Score is -2.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Finance CoOG stock overvalued right now?
Based on GuruFocus' analysis, United Finance CoOG (MUS:UFCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.08, compared to a current price of ر.ع0.09 — trading 17.5% above its estimated fair value. The current Beneish M-Score is -2.17. 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 United Finance CoOG (MUS:UFCI), the current Beneish M-Score is -2.17 as of Jul. 02, 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.

United Finance CoOG Business Description

Address Ruwi, P.O Box 3652, Muscat, OMN, 112
United Finance Co SAOG is principally involved in providing vehicle and equipment financing and is also licensed to provide composite loans, bridge loans, hire purchase, debt factoring and financing of receivables and leasing in the Sultanate of Oman. The company's offerings include Car finance, Fleet finance, Business finance, Term loans, Equipment finance, Commercial vehicle and many more. The company derives revenue in the form of interest income, with the majority coming from its retail customers.