Gulf Insurance Group (SAU:8250) Beneish M-Score: -2.00 (As of Jun. 30, 2026)


SAU:8250 Gulf Insurance Group SAU:8250
66 GF Score
Price ﷼32.46
GF Value ﷼27.63
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Gulf Insurance Group Beneish M-Score?

Gulf Insurance Group SAU:8250 +0.06% 66 Beneish M-Score is -2.00 as of Jun. 30, 2026. GuruFocus rates SAU:8250 with a GF Score™ of 66/100 and a GF Value™ of ﷼27.63 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 402 Insurance companies, Gulf Insurance Group ranks worse than 84.33% 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 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SAU:8250' s Beneish M-Score Range Over the Past 10 Years
Min: -3.23   Med: -2.51   Max: -1.76
Current: -2

During the past 13 years, the highest Beneish M-Score of Gulf Insurance Group was -1.76. The lowest was -3.23. And the median was -2.51.

SAU:8250
66GF Score
Gulf Insurance Group SAU:8250
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Gulf Insurance Group 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 Gulf Insurance Group 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 * 1.4931+0.528 * 1+0.404 * 1.0033+0.892 * 1.0328+0.115 * 0.9173
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.014055-0.327 * 0.7853
=-2.00

* 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 ﷼45 Mil.
Revenue was 378.256 + 369.814 + 345.129 + 355.751 = ﷼1,449 Mil.
Gross Profit was 378.256 + 369.814 + 345.129 + 355.751 = ﷼1,449 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼3,078 Mil.
Property, Plant and Equipment(Net PPE) was ﷼28 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼15 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼0 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼24 Mil.
Net Income was 43.327 + 40.527 + 26.355 + 32.214 = ﷼142 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ﷼0 Mil.
Cash Flow from Operations was 64.242 + 73.027 + 46.162 + 2.257 = ﷼186 Mil.
 Total Receivables was ﷼29 Mil.
Revenue was 315.792 + 384.789 + 345.144 + 357.162 = ﷼1,403 Mil.
Gross Profit was 315.792 + 384.789 + 345.144 + 357.162 = ﷼1,403 Mil.
Total Current Assets was ﷼0 Mil.
Total Assets was ﷼2,757 Mil.
Property, Plant and Equipment(Net PPE) was ﷼34 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼17 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼0 Mil.
Total Current Liabilities was ﷼0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼27 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)
=(44.541 / 1448.95) / (28.882 / 1402.887)
=0.03074 / 0.020588
=1.4931

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)
=(1402.887 / 1402.887) / (1448.95 / 1448.95)
=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 + 27.764) / 3078.305) / (1 - (0 + 33.812) / 2757.019)
=0.990981 / 0.987736
=1.0033

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
=1448.95 / 1402.887
=1.0328

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))
=(16.543 / (16.543 + 33.812)) / (15.492 / (15.492 + 27.764))
=0.328527 / 0.358147
=0.9173

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 / 1448.95) / (0 / 1402.887)
=0 / 0
=1

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)
=((23.595 + 0) / 3078.305) / ((26.91 + 0) / 2757.019)
=0.007665 / 0.009761
=0.7853

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
=(142.423 - 0 - 185.688) / 3078.305
=-0.014055

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.

Gulf Insurance Group has a M-score of -2.00 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 -2.00 mean?
Gulf Insurance Group (SAU:8250) has a Beneish M-Score of -2.00 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gulf Insurance Group and its competitors. According to the industry distribution chart, Gulf Insurance Group ranks #339 out of 402 companies in the Insurance industry, placing it in the top 84.3%.
Is Gulf Insurance Group's Beneish M-Score too high?
Gulf Insurance Group's current Beneish M-Score is -2.00. Based on the distribution chart, Gulf Insurance Group ranks #339 out of 402 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Gulf Insurance Group has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Gulf Insurance Group's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Gulf Insurance Group ranks #339 out of 402 companies for Beneish M-Score. This places Gulf Insurance Group 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 Gulf Insurance Group and its competitors. Gulf Insurance Group's current Beneish M-Score is -2.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gulf Insurance Group stock overvalued right now?
Based on GuruFocus' analysis, Gulf Insurance Group (SAU:8250) is currently considered Modestly Overvalued. The stock's GF Value™ is ﷼27.63, compared to a current price of ﷼32.46 — trading 17.5% above its estimated fair value. The current Beneish M-Score is -2.00. Gulf Insurance Group's overall GF Score™ is 66/100 with 6 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 Gulf Insurance Group (SAU:8250), the current Beneish M-Score is -2.00 as of Jun. 30, 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 Gulf Insurance Group (SAU:8250) Overvalued in 2026?

Based on GuruFocus' analysis, Gulf Insurance Group stock appears to be overvalued. The current stock price of ﷼32.46 is trading 17.5% above its estimated GF Value™ of ﷼27.63. GuruFocus considers Gulf Insurance Group to be Modestly Overvalued.

Key valuation signals for SAU:8250:

  • Beneish M-Score: -2.00
  • GF Value™: ﷼27.63 vs. price of ﷼32.46 (17.5% above fair value)
  • GF Score™: 66/100 with 6 warning signs

No single metric tells the full story. See the SAU:8250 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Gulf Insurance Group Business Description

Address P.O. Box 753, Riyadh, SAU, 11421
Gulf Insurance Group operates in the insurance industry. The company's line of business includes health, motor, marine, property, engineering, accident, liability, and protection insurance. It has various segments, which include Motor, Property and Casualty, Health, and Protection. Maximum revenue is generated from its Motor insurance segment which is intended to compensate the policyholder for damage to the vehicle or liability to third parties due to an accident.
66GF Score

Get the complete analysis for SAU:8250

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

﷼32.46
Price
﷼27.63
GF Value