Taqat Mineral Trading Co (SAU:9599) Beneish M-Score: -3.86 (As of Jul. 17, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SAU:9599 Taqat Mineral Trading Co SAU:9599
12 GF Score
Price ﷼8.38
View Full Analysis

What is Taqat Mineral Trading Co Beneish M-Score?

Taqat Mineral Trading Co SAU:9599 -6.79% 12 Beneish M-Score is -3.86 as of Jul. 17, 2026. GuruFocus rates SAU:9599 with a GF Score™ of 12/100. Among 2,909 Industrial Products companies, Taqat Mineral Trading Co ranks better than 96.22% on this metric.

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 -3.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Taqat Mineral Trading Co's Beneish M-Score or its related term are showing as below:

SAU:9599' s Beneish M-Score Range Over the Past 10 Years
Min: -3.86   Med: -3.86   Max: -3.86
Current: -3.86

During the past 3 years, the highest Beneish M-Score of Taqat Mineral Trading Co was -3.86. The lowest was -3.86. And the median was -3.86.

Taqat Mineral Trading Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Taqat Mineral Trading 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.

Taqat Mineral Trading Co Beneish M-Score Chart

Taqat Mineral Trading Co Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.86

Taqat Mineral Trading Co Semi-Annual Data
Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 -3.86

SAU:9599 vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, Taqat Mineral Trading 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.

Taqat Mineral Trading Co Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Taqat Mineral Trading Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Taqat Mineral Trading Co's Beneish M-Score falls into.


SAU:9599
12GF Score
Taqat Mineral Trading Co SAU:9599
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Taqat Mineral Trading 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 Taqat Mineral Trading 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 * 0.9307+0.528 * 0.6291+0.404 * 0.5152+0.892 * 1.0378+0.115 * 0.9582
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.256+4.679 * -0.173845-0.327 * 1.2984
=-3.86

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ﷼28.4 Mil.
Revenue was ﷼245.4 Mil.
Gross Profit was ﷼1.9 Mil.
Total Current Assets was ﷼67.1 Mil.
Total Assets was ﷼139.0 Mil.
Property, Plant and Equipment(Net PPE) was ﷼62.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼4.6 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼2.5 Mil.
Total Current Liabilities was ﷼24.7 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼0.0 Mil.
Net Income was ﷼-10.2 Mil.
Gross Profit was ﷼0.0 Mil.
Cash Flow from Operations was ﷼14.0 Mil.
 Total Receivables was ﷼29.4 Mil.
Revenue was ﷼236.4 Mil.
Gross Profit was ﷼1.1 Mil.
Total Current Assets was ﷼59.8 Mil.
Total Assets was ﷼145.3 Mil.
Property, Plant and Equipment(Net PPE) was ﷼67.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼4.7 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼1.9 Mil.
Total Current Liabilities was ﷼14.0 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼5.8 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)
=(28.444 / 245.352) / (29.448 / 236.413)
=0.115931 / 0.124562
=0.9307

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)
=(1.122 / 236.413) / (1.851 / 245.352)
=0.004746 / 0.007544
=0.6291

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 - (67.143 + 62.758) / 138.992) / (1 - (59.808 + 67.001) / 145.251)
=0.065407 / 0.126966
=0.5152

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
=245.352 / 236.413
=1.0378

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))
=(4.668 / (4.668 + 67.001)) / (4.577 / (4.577 + 62.758))
=0.065133 / 0.067974
=0.9582

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)
=(2.534 / 245.352) / (1.944 / 236.413)
=0.010328 / 0.008223
=1.256

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)
=((0.044 + 24.66) / 138.992) / ((5.846 + 14.038) / 145.251)
=0.177737 / 0.136894
=1.2984

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
=(-10.168 - 0 - 13.995) / 138.992
=-0.173845

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.

Taqat Mineral Trading Co has a M-score of -3.86 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 -3.86 mean?
Taqat Mineral Trading Co (SAU:9599) has a Beneish M-Score of -3.86 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Taqat Mineral Trading Co and its competitors. According to the industry distribution chart, Taqat Mineral Trading Co ranks #110 out of 2909 companies in the Industrial Products industry, placing it in the top 3.8%.
Is Taqat Mineral Trading Co's Beneish M-Score too high?
Taqat Mineral Trading Co's current Beneish M-Score is -3.86. Based on the distribution chart, Taqat Mineral Trading Co ranks #110 out of 2909 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Taqat Mineral Trading Co has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Taqat Mineral Trading Co's Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Taqat Mineral Trading Co ranks #110 out of 2909 companies for Beneish M-Score. This places Taqat Mineral Trading Co in the top 4% of its industry — outperforming the majority of peers. 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Taqat Mineral Trading Co and its competitors. Taqat Mineral Trading Co's current Beneish M-Score is -3.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taqat Mineral Trading Co stock overvalued right now?
Taqat Mineral Trading Co (SAU:9599) has a current Beneish M-Score of -3.86. The current Beneish M-Score is -3.86. Taqat Mineral Trading Co's overall GF Score™ is 12/100. 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 Taqat Mineral Trading Co (SAU:9599), the current Beneish M-Score is -3.86 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.

Taqat Mineral Trading Co Business Description

Address Imam Ahmad bin Hanbal Road, 2802 Al-Manar District, Riyadh, SAU, 14222
Taqat Mineral Trading Co is a company whose business activities are Manufacture of primary products of iron in the form of blocks of substrates and residues after remelting, manufacture of iron or steel products. etc., by drawing, extrusion or rolling, general construction of residential buildings, retail sale of building materials scrap, including (scrap iron trade), road transport of goods, transport of goods and equipment (heavy transport). The company operates in a single operating segment related to scrap sales, and geographically, it operates entirely within the Kingdom of Saudi Arabia.
12GF Score

Get the complete analysis for SAU:9599

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

﷼8.38
Price