Asian Life Insurance Co (XNEP:ALICL) Beneish M-Score: 0.00 (As of Jul. 30, 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.

XNEP:ALICL Asian Life Insurance Co Ltd XNEP:ALICL
52 GF Score
Price NPR436.00
View Full Analysis

What is Asian Life Insurance Co Beneish M-Score?

Asian Life Insurance Co XNEP:ALICL +0.46% 52 Beneish M-Score is 0.00 as of Jul. 30, 2026. GuruFocus rates XNEP:ALICL with a GF Score™ of 52/100.

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.

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

During the past 13 years, the highest Beneish M-Score of Asian Life Insurance Co was 0.00. The lowest was 0.00. And the median was 0.00.

XNEP:ALICL
52GF Score
Asian Life Insurance Co Ltd XNEP:ALICL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Asian Life Insurance 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 Asian Life Insurance 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.

This Year (Jul22) TTM:Last Year (Jul21) TTM:
Total Receivables was NPR478 Mil.
Revenue was NPR9,803 Mil.
Gross Profit was NPR9,803 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR37,033 Mil.
Property, Plant and Equipment(Net PPE) was NPR240 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR19 Mil.
Selling, General, & Admin. Expense(SGA) was NPR28 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR0 Mil.
Net Income was NPR6,034 Mil.
Gross Profit was NPR568 Mil.
Cash Flow from Operations was NPR4,311 Mil.
 Total Receivables was NPR253 Mil.
Revenue was NPR8,632 Mil.
Gross Profit was NPR8,632 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR30,945 Mil.
Property, Plant and Equipment(Net PPE) was NPR226 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR15 Mil.
Selling, General, & Admin. Expense(SGA) was NPR24 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR0 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)
=(477.831 / 9802.633) / (253.165 / 8631.914)
=0.048745 / 0.029329
=

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)
=(8631.914 / 8631.914) / (9802.633 / 9802.633)
=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 + 240.167) / 37032.95) / (1 - (0 + 226.199) / 30944.987)
=0.993515 / 0.99269
=

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
=9802.633 / 8631.914
=

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))
=(14.872 / (14.872 + 226.199)) / (18.69 / (18.69 + 240.167))
=0.061691 / 0.072202
=

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)
=(28.231 / 9802.633) / (24.339 / 8631.914)
=0.00288 / 0.00282
=

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 + 0) / 37032.95) / ((0 + 0) / 30944.987)
=0 / 0
=

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
=(6033.927 - 567.816 - 4311.015) / 37032.95
=0.031191

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Asian Life Insurance Co (XNEP:ALICL) has a Beneish M-Score of 0.00 as of Jul. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Asian Life Insurance Co and its competitors.
Is Asian Life Insurance Co's Beneish M-Score too high?
Asian Life Insurance Co's current Beneish M-Score is 0.00. Overall, Asian Life Insurance Co has a GF Score™ of 52/100, reflecting its overall financial health beyond just this single metric.
How does Asian Life Insurance Co's Beneish M-Score compare to AFL and MET?
Asian Life Insurance Co's Beneish M-Score of 0.00 can be compared against companies in the Insurance 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 Asian Life Insurance Co and its competitors. Asian Life Insurance 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 Asian Life Insurance Co stock overvalued right now?
Asian Life Insurance Co (XNEP:ALICL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Asian Life Insurance Co's overall GF Score™ is 52/100. 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 Asian Life Insurance Co (XNEP:ALICL), the current Beneish M-Score is 0.00 as of Jul. 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.

Asian Life Insurance Co Business Description

Address Maitidevi, Asian Life Building, Kathmandu, NPL, 44600
Asian Life Insurance Co Ltd operates predominantly in the insurance industry in Nepal. It is focused on providing various life insurance products, including participating and nonparticipating products, through its provincial offices, branches, sub-branches, and network of agents. The company's business segments include Endowment, Foreign Employment Term, Anticipated Endowment, Micro Term, Special Term, Child Endowment, Endowment Cum Whole Life, and Others. Maximum revenue is generated from its Endowment Insurance business.
52GF Score

Get the complete analysis for XNEP:ALICL

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

NPR436.00
Price