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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.
The historical rank and industry rank for Najran Cement Co's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Najran Cement Co was 231.30. The lowest was -15.98. And the median was -2.66.
Najran Cement Co Beneish M-Score Related Terms
Najran Cement Co Beneish M-Score Historical Data
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The historical data trend for Najran Cement 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:3002 vs CRH, VMC, MLM: Beneish M-Score Comparison
For the Building Materials subindustry, Najran Cement 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.
Najran Cement Co Beneish M-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Najran Cement Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Najran Cement 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 Najran Cement 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 *
+
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.
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))
=
(97.272 / (97.272 + 2011.717))
/
(98.185 / (98.185 + 1921.421))
=
0.046123
/
0.048616
=
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
=
(25.661 - 0
-
66.327)
/
2456.835
=
-0.016552
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.
Najran Cement Co (SAU:3002) has a Beneish M-Score of 0.00 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Najran Cement Co and its competitors. According to the industry distribution chart, Najran Cement Co ranks #999999 out of 387 companies in the Building Materials industry.
Is Najran Cement Co's Beneish M-Score too high?
Najran Cement Co's current Beneish M-Score is 0.00. Based on the distribution chart, Najran Cement Co ranks #999999 out of 387 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, Najran Cement Co has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Najran Cement Co's Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Najran Cement Co ranks #999999 out of 387 companies for Beneish M-Score. This places Najran Cement 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 Building Materials company?
A good Beneish M-Score depends on the Building Materials 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 Najran Cement Co and its competitors. Najran Cement Co'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 Najran Cement Co stock overvalued right now?
Based on GuruFocus' analysis, Najran Cement Co (SAU:3002) is currently considered Possible Value Trap. The stock's GF Value™ is ﷼9.22, compared to a current price of ﷼5.69 — trading 38.3% below its estimated fair value. The current Beneish M-Score is 0.00. Najran Cement Co's overall GF Score™ is 59/100 with 7 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 Najran Cement Co (SAU:3002), the current Beneish M-Score is 0.00 as of Jul. 16, 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 Najran Cement Co (SAU:3002) Overvalued in 2026?
Based on GuruFocus' analysis, Najran Cement Co stock appears to be undervalued.
The current stock price of ﷼5.69 is trading 38.3% below its estimated GF Value™ of ﷼9.22.
GuruFocus considers Najran Cement Co to be Possible Value Trap.
Key valuation signals for SAU:3002:
Beneish M-Score: 0.00
GF Value™: ﷼9.22 vs. price of ﷼5.69 (38.3% below fair value)
No single metric tells the full story. See the SAU:3002 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Najran Cement Co is a Saudi Arabia-based company engaged in the business of manufacturing ordinary portland cement and cement resistant to salts. Its product portfolio comprises ordinary portland cement, portland sulphate resistant cement, portland pozzolanic cement, Lyasah, and Lyasah plus cement. Additionally, the company offers an integrated electronic service for selling and delivering cement to its business customers (companies and institutions) through the Wasel App. It is engaged in one operating segment, i.e., manufacturing cement. Geographically, Najran Cement generates the majority of its revenue from the local market, and to a lesser extent, also exports its products to other countries.
59GF Score
Get the complete analysis for SAU:3002
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