Beacon Minerals (ASX:BCN) Beneish M-Score: -4.42 (As of Jun. 24, 2026)

What is Beacon Minerals Beneish M-Score?

Beacon Minerals ASX:BCN -2.32% 69 Beneish M-Score is -4.42 as of Jun. 24, 2026. GuruFocus rates ASX:BCN with a GF Score™ of 69/100 and a GF Value™ of A$1.74 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 685 Metals & Mining companies, Beacon Minerals ranks better than 95.18% 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 -4.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Beacon Minerals's Beneish M-Score or its related term are showing as below:

ASX:BCN' s Beneish M-Score Range Over the Past 10 Years
Min: -4.42 Med: -3.74 Max: -1.12
Current: -4.42

During the past 13 years, the highest Beneish M-Score of Beacon Minerals was -1.12. The lowest was -4.42. And the median was -3.74.

Beacon Minerals Beneish M-Score Related Terms

Beacon Minerals Beneish M-Score Historical Data

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The historical data trend for Beacon Minerals'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.

Beacon Minerals Beneish M-Score Chart

Beacon Minerals Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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0.00

-3.94

0.00

-3.53

-4.42

Beacon Minerals Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-3.53	0.00	-4.42	0.00

ASX:BCN vs NEM, AU: Beneish M-Score Comparison

For the Gold subindustry, Beacon Minerals'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.

Beacon Minerals Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Beacon Minerals's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Beacon Minerals's Beneish M-Score falls into.

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69GF Score

Beacon Minerals Ltd ASX:BCN

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Beacon Minerals 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 Beacon Minerals for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.7745

0.528 * 1.0536

0.404 * 2.2415

0.892 * 1.1143

0.115 * 0.5004

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 8.5537

4.679 * -0.201533

0.327 * 1.2113

-4.42

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was A$1.1 Mil.
Revenue was A$92.4 Mil.
Gross Profit was A$35.6 Mil.
Total Current Assets was A$35.1 Mil.
Total Assets was A$112.3 Mil.
Property, Plant and Equipment(Net PPE) was A$70.5 Mil.
Depreciation, Depletion and Amortization(DDA) was A$28.3 Mil.
Selling, General, & Admin. Expense(SGA) was A$16.2 Mil.
Total Current Liabilities was A$18.7 Mil.
Long-Term Debt & Capital Lease Obligation was A$5.1 Mil.
Net Income was A$-14.0 Mil.
Gross Profit was A$-3.5 Mil.
Cash Flow from Operations was A$12.2 Mil.

Total Receivables was A$1.2 Mil.
Revenue was A$82.9 Mil.
Gross Profit was A$33.7 Mil.
Total Current Assets was A$20.5 Mil.
Total Assets was A$103.9 Mil.
Property, Plant and Equipment(Net PPE) was A$80.6 Mil.
Depreciation, Depletion and Amortization(DDA) was A$13.5 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.7 Mil.
Total Current Liabilities was A$11.4 Mil.
Long-Term Debt & Capital Lease Obligation was A$6.7 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)
	=	(1.071 / 92.369)	/	(1.241 / 82.896)
	=	0.011595	/	0.014971
	=	0.7745

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)
	=	(33.675 / 82.896)	/	(35.614 / 92.369)
	=	0.406232	/	0.385562
	=	1.0536

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 - (35.068 + 70.496) / 112.324)	/	(1 - (20.462 + 80.625) / 103.876)
	=	0.060183	/	0.026849
	=	2.2415

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
	=	92.369	/	82.896
	=	1.1143

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))
	=	(13.471 / (13.471 + 80.625))	/	(28.254 / (28.254 + 70.496))
	=	0.143162	/	0.286116
	=	0.5004

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)
	=	(16.174 / 92.369)	/	(1.697 / 82.896)
	=	0.175102	/	0.020471
	=	8.5537

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)
	=	((5.054 + 18.681) / 112.324)	/	((6.712 + 11.409) / 103.876)
	=	0.211308	/	0.174448
	=	1.2113

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
	=	(-14.002 - -3.534	-	12.169)	/	112.324
	=	-0.201533

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.

Beacon Minerals has a M-score of -4.42 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 -4.42 mean?

Beacon Minerals (ASX:BCN) has a Beneish M-Score of -4.42 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Beacon Minerals and its competitors. According to the industry distribution chart, Beacon Minerals ranks #33 out of 685 companies in the Metals & Mining industry, placing it in the top 4.8%.

Is Beacon Minerals' Beneish M-Score too high?

Beacon Minerals' current Beneish M-Score is -4.42. Based on the distribution chart, Beacon Minerals ranks #33 out of 685 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Beacon Minerals has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Beacon Minerals' Beneish M-Score compare to NEM and AU?

According to the Metals & Mining industry distribution chart, Beacon Minerals ranks #33 out of 685 companies for Beneish M-Score. This places Beacon Minerals in the top 5% 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 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 Beacon Minerals and its competitors. Beacon Minerals's current Beneish M-Score is -4.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Beacon Minerals stock overvalued right now?

Based on GuruFocus' analysis, Beacon Minerals (ASX:BCN) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.74, compared to a current price of A$2.53 — trading 45.4% above its estimated fair value. The current Beneish M-Score is -4.42. Beacon Minerals' overall GF Score™ is 69/100 with 3 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 Beacon Minerals (ASX:BCN), the current Beneish M-Score is -4.42 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 Beacon Minerals (ASX:BCN) Overvalued in 2026?

Based on GuruFocus' analysis, Beacon Minerals stock appears to be overvalued. The current stock price of A$2.53 is trading 45.4% above its estimated GF Value™ of A$1.74. GuruFocus considers Beacon Minerals to be Significantly Overvalued.

Key valuation signals for ASX:BCN:

Beneish M-Score: -4.42
GF Value™: A$1.74 vs. price of A$2.53 (45.4% above fair value)
GF Score™: 69/100 with 3 warning signs

No single metric tells the full story. See the ASX:BCN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Beacon Minerals Business Description

Industry Basic Materials Metals & Mining

Comparable Companies ASX:AAR ASX:POL ASX:BTR ASX:ERM ASX:TBR ASX:MRT ASX:TGM ASX:GG8 ASX:HAV ASX:AS1 SHSE:601899 NEM TSX:AEM TSX:ABX TSX:WPM AU TSX:FNV HKSE:02259 TSX:K JSE:GFI

Other Exchanges M3O:Germany

Address 144 Vivian Street, Boulder, Perth, WA, AUS, 6432

Website https://www.beaconminerals.com.au

Beacon Minerals Ltd is a minerals exploration and development company based in Australia. The company is focused on the development of the Jaurdi Gold Project. It generates a majority of its revenue from Gold. The Group has one operating segment, which involves the exploration and development of minerals in Australia.

69GF Score

Get the complete analysis for ASX:BCN

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

A$2.53

Price

A$1.74

GF Value

View ASX:BCN Analysis

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