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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for A-Sonic Aerospace's Beneish M-Score or its related term are showing as below:
ASNCF'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.32 Max: -0.14
Current: -2.83
During the past 13 years, the highest Beneish M-Score of A-Sonic Aerospace was -0.14. The lowest was -2.83. And the median was -2.32.
A-Sonic Aerospace Beneish M-Score Related Terms
A-Sonic Aerospace Beneish M-Score Historical Data
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The historical data trend for A-Sonic Aerospace'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.
ASNCF vs FDX, UPS, JBHT: Beneish M-Score Comparison
For the Integrated Freight & Logistics subindustry, A-Sonic Aerospace'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.
A-Sonic Aerospace Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, A-Sonic Aerospace's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where A-Sonic Aerospace'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 A-Sonic Aerospace 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 * 1.1538
+
0.528 * 0.6053
+
0.404 * 1.0024
+
0.892 * 0.8297
+
0.115 * 1.172
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.5102
+
4.679 * -0.013269
-
0.327 * 0.9169
=
-2.80
* 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))
=
(2.036 / (2.036 + 5.34))
/
(2.22 / (2.22 + 7.206))
=
0.27603
/
0.235519
=
1.172
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
=
(3.039 - 0
-
4.215)
/
88.63
=
-0.013269
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.
A-Sonic Aerospace has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
A-Sonic Aerospace (ASNCF) has a Beneish M-Score of -2.83 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on A-Sonic Aerospace and its competitors. According to the industry distribution chart, A-Sonic Aerospace ranks #259 out of 966 companies in the Transportation industry, placing it in the top 26.8%.
Is A-Sonic Aerospace's Beneish M-Score too high?
A-Sonic Aerospace's current Beneish M-Score is -2.83. Based on the distribution chart, A-Sonic Aerospace ranks #259 out of 966 companies in the Transportation industry, which is above the industry midpoint. Overall, A-Sonic Aerospace has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does A-Sonic Aerospace's Beneish M-Score compare to FDX and UPS?
According to the Transportation industry distribution chart, A-Sonic Aerospace ranks #259 out of 966 companies for Beneish M-Score. This puts A-Sonic Aerospace in the upper 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 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 A-Sonic Aerospace and its competitors. A-Sonic Aerospace's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is A-Sonic Aerospace stock overvalued right now?
A-Sonic Aerospace (ASNCF) has a current Beneish M-Score of -2.83. The stock's GF Value™ is $0.12, compared to a current price of $0.24 — trading 100% above its estimated fair value. The current Beneish M-Score is -2.83. A-Sonic Aerospace's overall GF Score™ is 48/100 with 4 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 A-Sonic Aerospace (ASNCF), the current Beneish M-Score is -2.83 as of Jun. 24, 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 A-Sonic Aerospace (ASNCF) Overvalued in 2026?
Based on GuruFocus' analysis, A-Sonic Aerospace stock appears to be overvalued.
The current stock price of $0.24 is trading 100% above its estimated GF Value™ of $0.12.
Key valuation signals for ASNCF:
Beneish M-Score: -2.83
GF Value™: $0.12 vs. price of $0.24 (100% above fair value)
No single metric tells the full story. See the ASNCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
A-Sonic Aerospace Ltd is engaged in providing supply chain management services. The company provides domestic multi-modal transportation, warehousing, distribution, customs clearance, and airport ground services. Its business is divided into two segments, namely Aviation, which is engaged in the sale and purchase of aircraft components; and Logistics, which is engaged in providing logistic solutions, including international and domestic multi-modal transportation, warehousing, distribution, customs clearance, and air cargo handling services. The company generates a majority of its revenue from the Logistics segment. Geographically, it derives maximum revenue from the People's Republic of China, followed by Australia, Singapore, the United States of America, and other countries.
48GF Score
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