Bank Albilad (SAU:1140) Beneish M-Score: -2.33 (As of Jul. 02, 2026)


SAU:1140 Bank Albilad SAU:1140
83 GF Score
Price ﷼24.00
GF Value ﷼33.01
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Bank Albilad Beneish M-Score?

Bank Albilad SAU:1140 -1.60% 83 Beneish M-Score is -2.33 as of Jul. 02, 2026. GuruFocus rates SAU:1140 with a GF Score™ of 83/100 and a GF Value™ of ﷼33.01 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,397 Banks companies, Bank Albilad ranks worse than 62.85% 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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SAU:1140' s Beneish M-Score Range Over the Past 10 Years
Min: -2.7   Med: -2.42   Max: -2.13
Current: -2.33

During the past 13 years, the highest Beneish M-Score of Bank Albilad was -2.13. The lowest was -2.70. And the median was -2.42.

SAU:1140
83GF Score
Bank Albilad SAU:1140
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bank Albilad 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 Albilad 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 * 0.9999+0.892 * 1.0822+0.115 * 1.0259
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0249+4.679 * 0.007555-0.327 * 0.8692
=-2.33

* 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 1529.211 + 1646.658 + 1534.862 + 1540.711 = ﷼6,251 Mil.
Gross Profit was 1529.211 + 1646.658 + 1534.862 + 1540.711 = ﷼6,251 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼179,959 Mil.
Property, Plant and Equipment(Net PPE) was ﷼2,826 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼308 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼794 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼3,092 Mil.
Net Income was 735.752 + 816.707 + 766.497 + 765.765 = ﷼3,085 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ﷼0 Mil.
Cash Flow from Operations was -2077.095 + 1807.01 + 4173.901 + -2178.664 = ﷼1,725 Mil.
 Total Receivables was ﷼0 Mil.
Revenue was 1463.847 + 1458.638 + 1446.279 + 1407.741 = ﷼5,777 Mil.
Gross Profit was 1463.847 + 1458.638 + 1446.279 + 1407.741 = ﷼5,777 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼159,103 Mil.
Property, Plant and Equipment(Net PPE) was ﷼2,489 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼279 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼716 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼3,145 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 / 6251.442) / (0 / 5776.505)
=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)
=(5776.505 / 5776.505) / (6251.442 / 6251.442)
=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 + 2825.986) / 179959.245) / (1 - (0 + 2488.707) / 159102.744)
=0.984297 / 0.984358
=0.9999

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
=6251.442 / 5776.505
=1.0822

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))
=(278.672 / (278.672 + 2488.707)) / (307.587 / (307.587 + 2825.986))
=0.100699 / 0.098159
=1.0259

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)
=(793.923 / 6251.442) / (715.771 / 5776.505)
=0.126998 / 0.123911
=1.0249

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)
=((3091.616 + 0) / 179959.245) / ((3144.743 + 0) / 159102.744)
=0.01718 / 0.019765
=0.8692

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
=(3084.721 - 0 - 1725.152) / 179959.245
=0.007555

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.

Bank Albilad has a M-score of -2.33 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 -2.33 mean?
Bank Albilad (SAU:1140) has a Beneish M-Score of -2.33 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bank Albilad and its competitors. According to the industry distribution chart, Bank Albilad ranks #878 out of 1397 companies in the Banks industry, placing it in the top 62.8%.
Is Bank Albilad's Beneish M-Score too high?
Bank Albilad's current Beneish M-Score is -2.33. Based on the distribution chart, Bank Albilad ranks #878 out of 1397 companies in the Banks industry, which is below the industry midpoint. Overall, Bank Albilad has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bank Albilad's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Bank Albilad ranks #878 out of 1397 companies for Beneish M-Score. This places Bank Albilad 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 Albilad and its competitors. Bank Albilad's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bank Albilad stock overvalued right now?
Based on GuruFocus' analysis, Bank Albilad (SAU:1140) is currently considered Modestly Undervalued. The stock's GF Value™ is ﷼33.01, compared to a current price of ﷼24.00 — trading 27.3% below its estimated fair value. The current Beneish M-Score is -2.33. Bank Albilad's overall GF Score™ is 83/100 with 2 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 Albilad (SAU:1140), the current Beneish M-Score is -2.33 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.

Is Bank Albilad (SAU:1140) Overvalued in 2026?

Based on GuruFocus' analysis, Bank Albilad stock appears to be undervalued. The current stock price of ﷼24.00 is trading 27.3% below its estimated GF Value™ of ﷼33.01. GuruFocus considers Bank Albilad to be Modestly Undervalued.

Key valuation signals for SAU:1140:

  • Beneish M-Score: -2.33
  • GF Value™: ﷼33.01 vs. price of ﷼24.00 (27.3% below fair value)
  • GF Score™: 83/100 with 2 warning signs

No single metric tells the full story. See the SAU:1140 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Bank Albilad Business Description

Address 8229 Al Mutamarat, Unit 2, Riyadh, SAU, 3952- 12711
Bank Albilad is a banking corporation conducting business mainly in the Kingdom of Saudi Arabia. It is divided into four operating segments: Retail banking provides services and products to individuals, including deposits, financing, remittances, and currency exchange, Corporate banking provides services and products to corporate customers including deposits, financing, and trade services, Treasury provides money market and treasury services and Investment banking and brokerage provides investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities. Key revenue is generated from the Retail banking segment.
83GF Score

Get the complete analysis for SAU:1140

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

﷼24.00
Price
﷼33.01
GF Value