The Mediterranean and Gulf Insurance and Reinsurance Co (SAU:8030) Beneish M-Score: -1.59 (As of Jul. 17, 2026)

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SAU:8030 The Mediterranean and Gulf Insurance and Reinsurance Co SAU:8030
70 GF Score
Price ﷼15.35
GF Value ﷼22.01
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is The Mediterranean and Gulf Insurance and Reinsurance Co Beneish M-Score?

The Mediterranean and Gulf Insurance and Reinsurance Co SAU:8030 -1.98% 70 Beneish M-Score is -1.59 as of Jul. 17, 2026. GuruFocus rates SAU:8030 with a GF Score™ of 70/100 and a GF Value™ of ﷼22.01 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 397 Insurance companies, The Mediterranean and Gulf Insurance and Reinsurance Co ranks worse than 89.92% 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.

Warning Sign:

Beneish M-Score -1.59 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for The Mediterranean and Gulf Insurance and Reinsurance Co's Beneish M-Score or its related term are showing as below:

SAU:8030' s Beneish M-Score Range Over the Past 10 Years
Min: -6.49   Med: -2.18   Max: -0.58
Current: -1.59

During the past 13 years, the highest Beneish M-Score of The Mediterranean and Gulf Insurance and Reinsurance Co was -0.58. The lowest was -6.49. And the median was -2.18.

SAU:8030
70GF Score
The Mediterranean and Gulf Insurance and Reinsurance Co SAU:8030
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Mediterranean and Gulf Insurance and Reinsurance Co 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 The Mediterranean and Gulf Insurance and Reinsurance 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 * 1.5323+0.528 * 1+0.404 * 1.0027+0.892 * 1.1904+0.115 * 0.9274
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5466+4.679 * 0.057271-0.327 * 0.7937
=-1.59

* 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 ﷼271 Mil.
Revenue was 1057.501 + 1196.074 + 981.745 + 963.059 = ﷼4,198 Mil.
Gross Profit was 1057.501 + 1196.074 + 981.745 + 963.059 = ﷼4,198 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼3,849 Mil.
Property, Plant and Equipment(Net PPE) was ﷼46 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼28 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼15 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼13 Mil.
Net Income was 36.249 + 4.992 + 17.903 + -1.47 = ﷼58 Mil.
Non Operating Income was 0 + -1.267 + 0 + 0 = ﷼-1 Mil.
Cash Flow from Operations was 93.298 + -479.713 + 230.012 + -5.098 = ﷼-162 Mil.
 Total Receivables was ﷼148 Mil.
Revenue was 954.588 + 840.787 + 926.875 + 804.539 = ﷼3,527 Mil.
Gross Profit was 954.588 + 840.787 + 926.875 + 804.539 = ﷼3,527 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼3,054 Mil.
Property, Plant and Equipment(Net PPE) was ﷼45 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼24 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼8 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼13 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)
=(270.535 / 4198.379) / (148.315 / 3526.789)
=0.064438 / 0.042054
=1.5323

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)
=(3526.789 / 3526.789) / (4198.379 / 4198.379)
=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 + 46.406) / 3849.111) / (1 - (0 + 44.947) / 3053.635)
=0.987944 / 0.985281
=1.0027

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
=4198.379 / 3526.789
=1.1904

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))
=(24.183 / (24.183 + 44.947)) / (28.106 / (28.106 + 46.406))
=0.349819 / 0.377201
=0.9274

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)
=(15.408 / 4198.379) / (8.37 / 3526.789)
=0.00367 / 0.002373
=1.5466

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)
=((13.193 + 0) / 3849.111) / ((13.189 + 0) / 3053.635)
=0.003428 / 0.004319
=0.7937

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
=(57.674 - -1.267 - -161.501) / 3849.111
=0.057271

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 Mediterranean and Gulf Insurance and Reinsurance Co has a M-score of -1.59 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.59 mean?
The Mediterranean and Gulf Insurance and Reinsurance Co (SAU:8030) has a Beneish M-Score of -1.59 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Mediterranean and Gulf Insurance and Reinsurance Co and its competitors. According to the industry distribution chart, The Mediterranean and Gulf Insurance and Reinsurance Co ranks #357 out of 397 companies in the Insurance industry, placing it in the top 89.9%.
Is The Mediterranean and Gulf Insurance and Reinsurance Co's Beneish M-Score too high?
The Mediterranean and Gulf Insurance and Reinsurance Co's current Beneish M-Score is -1.59. Based on the distribution chart, The Mediterranean and Gulf Insurance and Reinsurance Co ranks #357 out of 397 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, The Mediterranean and Gulf Insurance and Reinsurance Co has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does The Mediterranean and Gulf Insurance and Reinsurance Co's Beneish M-Score compare to AFL and MET?
According to the Insurance industry distribution chart, The Mediterranean and Gulf Insurance and Reinsurance Co ranks #357 out of 397 companies for Beneish M-Score. This places The Mediterranean and Gulf Insurance and Reinsurance 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 The Mediterranean and Gulf Insurance and Reinsurance Co and its competitors. The Mediterranean and Gulf Insurance and Reinsurance Co's current Beneish M-Score is -1.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Mediterranean and Gulf Insurance and Reinsurance Co stock overvalued right now?
Based on GuruFocus' analysis, The Mediterranean and Gulf Insurance and Reinsurance Co (SAU:8030) is currently considered Possible Value Trap. The stock's GF Value™ is ﷼22.01, compared to a current price of ﷼15.35 — trading 30.3% below its estimated fair value. The current Beneish M-Score is -1.59. The Mediterranean and Gulf Insurance and Reinsurance Co's overall GF Score™ is 70/100 with 3 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 The Mediterranean and Gulf Insurance and Reinsurance Co (SAU:8030), the current Beneish M-Score is -1.59 as of Jul. 17, 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 The Mediterranean and Gulf Insurance and Reinsurance Co (SAU:8030) Overvalued in 2026?

Based on GuruFocus' analysis, The Mediterranean and Gulf Insurance and Reinsurance Co stock appears to be undervalued. The current stock price of ﷼15.35 is trading 30.3% below its estimated GF Value™ of ﷼22.01. GuruFocus considers The Mediterranean and Gulf Insurance and Reinsurance Co to be Possible Value Trap.

Key valuation signals for SAU:8030:

  • Beneish M-Score: -1.59
  • GF Value™: ﷼22.01 vs. price of ﷼15.35 (30.3% below fair value)
  • GF Score™: 70/100 with 3 warning signs

No single metric tells the full story. See the SAU:8030 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

The Mediterranean and Gulf Insurance and Reinsurance Co Business Description

Address Al-Maather street, King Saud Road, P.O. Box 2302, al futuro tower, Riyadh, SAU, 11451
The Mediterranean and Gulf Insurance and Reinsurance Co is a Saudi Arabian insurance company with objectives to transact in cooperative insurance and reinsurance business and related activities. Its principal lines of business include medical, motor and other general insurance. It has three reportable operating segments: Medical insurance, which is the key revenue driver, and covers medical costs, medicines, and all other medical services and supplies; Motor Insurance, which provides coverage against losses and liability related to motor vehicles; and Other classes, which covers any other classes of insurance not included above.
70GF Score

Get the complete analysis for SAU:8030

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

﷼15.35
Price
﷼22.01
GF Value