Air ChinaAIRYY 69 Beneish M-Score is -3.17 as of Jun. 25, 2026. GuruFocus rates AIRYY with a GF Score™ of 69/100 and a GF Value™ of $15.92 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 966 Transportation companies, Air China ranks better than 89.75% 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 -3.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Air China's Beneish M-Score or its related term are showing as below:
AIRYY'
s Beneish M-Score Range Over the Past 10 Years
Min: -8.28 Med: -2.96 Max: 7.87
Current: -3.17
During the past 13 years, the highest Beneish M-Score of Air China was 7.87. The lowest was -8.28. And the median was -2.96.
Air China Beneish M-Score Related Terms
Air China Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Air China'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.
AIRYY vs DAL, UAL, LUV: Beneish M-Score Comparison
For the Airlines subindustry, Air China'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.
Air China Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Air China's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Air China'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 Air China 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 * 1.0259
+
0.528 * 0.6533
+
0.404 * 0.9673
+
0.892 * 1.0783
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9456
+
4.679 * -0.115718
-
0.327 * 0.9689
=
-3.10
* 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))
=
(0 / (0 + 35529.354))
/
(0 / (0 + 38305.005))
=
0
/
0
=
1
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
=
(281.022 - 0
-
6061.345)
/
49951.867
=
-0.115718
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.
Air China has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.
Air China (AIRYY) has a Beneish M-Score of -3.17 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Air China and its competitors. According to the industry distribution chart, Air China ranks #99 out of 966 companies in the Transportation industry, placing it in the top 10.2%.
Is Air China's Beneish M-Score too high?
Air China's current Beneish M-Score is -3.17. Based on the distribution chart, Air China ranks #99 out of 966 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Air China has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Air China's Beneish M-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, Air China ranks #99 out of 966 companies for Beneish M-Score. This places Air China in the top 10% 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 a Transportation company?
A good Beneish M-Score depends on the Transportation 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 Air China and its competitors. Air China's current Beneish M-Score is -3.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air China stock overvalued right now?
Based on GuruFocus' analysis, Air China (AIRYY) is currently considered Possible Value Trap. The stock's GF Value™ is $15.92, compared to a current price of $10.40 — trading 34.7% below its estimated fair value. The current Beneish M-Score is -3.17. Air China's overall GF Score™ is 69/100 with 5 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 Air China (AIRYY), the current Beneish M-Score is -3.17 as of Jun. 25, 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 Air China (AIRYY) Overvalued in 2026?
Based on GuruFocus' analysis, Air China stock appears to be undervalued.
The current stock price of $10.40 is trading 34.7% below its estimated GF Value™ of $15.92.
GuruFocus considers Air China to be Possible Value Trap.
Key valuation signals for AIRYY:
Beneish M-Score: -3.17
GF Value™: $15.92 vs. price of $10.40 (34.7% below fair value)
No single metric tells the full story. See the AIRYY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air China Ltd is based in Beijing and principally provides airline and related services, which include aircraft engineering and airport ground handling. The majority of the company's revenue comes from airline operations, with a smaller portion generated from rental income. Company has two segments (a) The airline operations segment which mainly comprises the provision of air passenger and air cargo services; and (b) The other operations segment which comprises the provision of aircraft engineering and other airline-related services. Geographically, majority of its revenue is derived from Mainland China followed by International segment and Hong Kong SAR, Macau SAR and Taiwan.
69GF Score
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