Black Cat SyndicateASX:BC8 +1.09%37 Beneish M-Score is 480.06 as of Jun. 26, 2026, which is at its 10-year median of 480.06. GuruFocus rates ASX:BC8 with a GF Score™ of 37/100. The stock has 5 warning signs investors should review. Among 685 Metals & Mining companies, Black Cat Syndicate ranks worse than 99.56% 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.
Warning Sign:
Beneish M-Score 480.06 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Black Cat Syndicate's Beneish M-Score or its related term are showing as below:
ASX:BC8'
s Beneish M-Score Range Over the Past 10 Years
Min: 480.06 Med: 480.06 Max: 480.06
Current: 480.06
During the past 8 years, the highest Beneish M-Score of Black Cat Syndicate was 480.06. The lowest was 480.06. And the median was 480.06.
Black Cat Syndicate Beneish M-Score Related Terms
Black Cat Syndicate Beneish M-Score Historical Data
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The historical data trend for Black Cat Syndicate'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.
For the Gold subindustry, Black Cat Syndicate'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.
Black Cat Syndicate Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Black Cat Syndicate's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Black Cat Syndicate'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 Black Cat Syndicate 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 * 0.0101
+
0.528 * 5.6379
+
0.404 * 0.466
+
0.892 * 540.8261
+
0.115 * 0.0025
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.0052
+
4.679 * -0.037237
-
0.327 * 1.58
=
480.06
* 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))
=
(0.022 / (0.022 + 140.637))
/
(19.755 / (19.755 + 299.227))
=
0.000156
/
0.061931
=
0.0025
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
=
(-25.946 - 0.581
-
-12.765)
/
369.577
=
-0.037237
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.
Black Cat Syndicate has a M-score of 480.06 signals that the company is likely to be a manipulator.
Black Cat Syndicate (ASX:BC8) has a Beneish M-Score of 480.06 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Black Cat Syndicate and its competitors. This is near median its historical median of 480.06. Over the past decade, Black Cat Syndicate's Beneish M-Score has ranged from 480.06 to 480.06. According to the industry distribution chart, Black Cat Syndicate ranks #682 out of 685 companies in the Metals & Mining industry, placing it in the top 99.6%.
Is Black Cat Syndicate's Beneish M-Score too high?
Black Cat Syndicate's current Beneish M-Score of 480.06 is near median its 10-year median of 480.06. Over the past 10 years, this metric has ranged from a low of 480.06 to a high of 480.06. Based on the distribution chart, Black Cat Syndicate ranks #682 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Black Cat Syndicate has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Black Cat Syndicate's Beneish M-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Black Cat Syndicate ranks #682 out of 685 companies for Beneish M-Score. This places Black Cat Syndicate in the lower half of its industry. Historically, Black Cat Syndicate's own Beneish M-Score has ranged from 480.06 to 480.06 over the past decade. 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Black Cat Syndicate and its competitors. Black Cat Syndicate's current Beneish M-Score is 480.06, which is near median its own 10-year median of 480.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Black Cat Syndicate stock overvalued right now?
Black Cat Syndicate (ASX:BC8) has a current Beneish M-Score of 480.06. The current Beneish M-Score is 480.06, which is near median its 10-year median of 480.06. Black Cat Syndicate's overall GF Score™ is 37/100 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 Black Cat Syndicate (ASX:BC8), the current Beneish M-Score is 480.06 as of Jun. 26, 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.
Black Cat Syndicate Ltd is a mining company. It focuses on the exploration and development of the goldfield project. The Group has identified four reportable segments of its business namely total operations: mining and processing of gold, Mine development, Exploration: exploration and evaluation of gold mineralisation and Other: corporate expenditures supporting the business. The company is engaged in the exploration and development of the Bulong Gold Field project located to the east of Kalgoorlie. The company's project includes Kal East Gold project, Coyote Gold Operation, Paulsens Gold Operation.
37GF Score
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