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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 -1.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Saudi Steel Pipe Co's Beneish M-Score or its related term are showing as below:
SAU:1320'
s Beneish M-Score Range Over the Past 10 Years
Min: -25.83 Med: -2.83 Max: -0.72
Current: -1.78
During the past 13 years, the highest Beneish M-Score of Saudi Steel Pipe Co was -0.72. The lowest was -25.83. And the median was -2.83.
Saudi Steel Pipe Co Beneish M-Score Related Terms
Saudi Steel Pipe Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Saudi Steel Pipe Co's Beneish M-Score can be seen below:
* 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.
SAU:1320 vs NUE, STLD, RS: Beneish M-Score Comparison
For the Steel subindustry, Saudi Steel Pipe Co'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.
Saudi Steel Pipe Co Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Saudi Steel Pipe Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Saudi Steel Pipe Co's Beneish M-Score falls into.
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 Saudi Steel Pipe Co 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 * 1.688
+
0.528 * 0.9947
+
0.404 * 0.9099
+
0.892 * 0.8563
+
0.115 * 0.8324
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7263
+
4.679 * 0.020297
-
0.327 * 0.6706
=
-1.78
* 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))
=
(83.436 / (83.436 + 1015.191))
/
(83.359 / (83.359 + 830.255))
=
0.075946
/
0.091241
=
0.8324
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
=
(193.648 - 0
-
160.342)
/
1640.91
=
0.020297
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.
Saudi Steel Pipe Co has a M-score of -1.78 suggests that the company is unlikely to be a manipulator.
Saudi Steel Pipe Co (SAU:1320) has a Beneish M-Score of -1.78 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Saudi Steel Pipe Co and its competitors. According to the industry distribution chart, Saudi Steel Pipe Co ranks #470 out of 587 companies in the Steel industry, placing it in the top 80.1%.
Is Saudi Steel Pipe Co's Beneish M-Score too high?
Saudi Steel Pipe Co's current Beneish M-Score is -1.78. Based on the distribution chart, Saudi Steel Pipe Co ranks #470 out of 587 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Saudi Steel Pipe Co has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Saudi Steel Pipe Co's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Saudi Steel Pipe Co ranks #470 out of 587 companies for Beneish M-Score. This places Saudi Steel Pipe Co 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 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 Saudi Steel Pipe Co and its competitors. Saudi Steel Pipe Co's current Beneish M-Score is -1.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Saudi Steel Pipe Co stock overvalued right now?
Based on GuruFocus' analysis, Saudi Steel Pipe Co (SAU:1320) is currently considered Fairly Valued. The stock's GF Value™ is ﷼51.56, compared to a current price of ﷼47.90 — trading 7.1% below its estimated fair value. The current Beneish M-Score is -1.78. Saudi Steel Pipe Co's overall GF Score™ is 87/100 with 4 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 Saudi Steel Pipe Co (SAU:1320), the current Beneish M-Score is -1.78 as of Jul. 23, 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 Saudi Steel Pipe Co (SAU:1320) Overvalued in 2026?
Based on GuruFocus' analysis, Saudi Steel Pipe Co stock appears to be undervalued.
The current stock price of ﷼47.90 is trading 7.1% below its estimated GF Value™ of ﷼51.56.
GuruFocus considers Saudi Steel Pipe Co to be Fairly Valued.
Key valuation signals for SAU:1320:
Beneish M-Score: -1.78
GF Value™: ﷼51.56 vs. price of ﷼47.90 (7.1% below fair value)
No single metric tells the full story. See the SAU:1320 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Saudi Steel Pipe Co is a Saudi Arabian company engaged in the manufacturing of steel pipes. The group operates in single segment, being the Steel pipes segment which provides galvanized and non-galvanized steel pipes, square and rectangular pipes used in petroleum, gas, water, and construction sectors. The company has a market presence in two segments namely Saudi Arabia and Other countries with the majority of the revenue generated from Saudi Arabia.
87GF Score
Get the complete analysis for SAU:1320
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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