Conrad Asia Energy (ASX:CRD) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


ASX:CRD Conrad Asia Energy Ltd ASX:CRD
18 GF Score
Price A$0.41
! 4 Warning Signs
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What is Conrad Asia Energy Beneish M-Score?

Conrad Asia Energy ASX:CRD 18 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates ASX:CRD with a GF Score™ of 18/100. The stock has 4 warning signs investors should review. Among 822 Oil & Gas companies, Conrad Asia Energy ranks worse than 121654.38% 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.

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

During the past 4 years, the highest Beneish M-Score of Conrad Asia Energy was 0.00. The lowest was 0.00. And the median was 0.00.

Conrad Asia Energy Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Conrad Asia Energy'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.

Conrad Asia Energy Beneish M-Score Chart

Conrad Asia Energy Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00

Conrad Asia Energy Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

ASX:CRD vs COP, EOG, OXY: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Conrad Asia Energy'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.

Conrad Asia Energy Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Conrad Asia Energy's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Conrad Asia Energy's Beneish M-Score falls into.


ASX:CRD
18GF Score
Conrad Asia Energy Ltd ASX:CRD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Conrad Asia Energy 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 Conrad Asia Energy 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was A$5.60 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$19.25 Mil.
Total Assets was A$67.58 Mil.
Property, Plant and Equipment(Net PPE) was A$44.24 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.32 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.00 Mil.
Total Current Liabilities was A$2.33 Mil.
Long-Term Debt & Capital Lease Obligation was A$10.98 Mil.
Net Income was A$-6.15 Mil.
Gross Profit was A$0.12 Mil.
Cash Flow from Operations was A$-21.85 Mil.
 Total Receivables was A$0.17 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$7.12 Mil.
Total Assets was A$57.62 Mil.
Property, Plant and Equipment(Net PPE) was A$45.46 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.35 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.00 Mil.
Total Current Liabilities was A$2.79 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.11 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)
=(5.597 / 0) / (0.169 / 0)
= /
=

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)
=(0 / 0) / (0 / 0)
= /
=

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 - (19.246 + 44.244) / 67.579) / (1 - (7.115 + 45.464) / 57.624)
=0.060507 / 0.08755
=

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
=0 / 0
=

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))
=(0.354 / (0.354 + 45.464)) / (0.318 / (0.318 + 44.244))
=0.007726 / 0.007136
=

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)
=(0 / 0) / (0 / 0)
= /
=

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)
=((10.976 + 2.327) / 67.579) / ((0.106 + 2.79) / 57.624)
=0.196851 / 0.050257
=

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
=(-6.145 - 0.116 - -21.851) / 67.579
=0.230693

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?
Conrad Asia Energy (ASX:CRD) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Conrad Asia Energy and its competitors. According to the industry distribution chart, Conrad Asia Energy ranks #999999 out of 822 companies in the Oil & Gas industry.
Is Conrad Asia Energy's Beneish M-Score too high?
Conrad Asia Energy's current Beneish M-Score is 0.00. Based on the distribution chart, Conrad Asia Energy ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Conrad Asia Energy has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Conrad Asia Energy's Beneish M-Score compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Conrad Asia Energy ranks #999999 out of 822 companies for Beneish M-Score. This places Conrad Asia Energy in the lower 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Conrad Asia Energy and its competitors. Conrad Asia Energy'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 Conrad Asia Energy stock overvalued right now?
Conrad Asia Energy (ASX:CRD) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Conrad Asia Energy's overall GF Score™ is 18/100 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 Conrad Asia Energy (ASX:CRD), the current Beneish M-Score is 0.00 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.

Conrad Asia Energy Business Description

Industry EnergyOil & Gas
Other Exchanges 3MD:Germany
Address South Quarter Tower A, 15th Floor, Unit H, JI. R.A. Kartini Kav. 8 Cilandak, Jakarta, IDN, 12430
Conrad Asia Energy Ltd is engaged in the oil and gas exploration and development business. It's an energy company currently focused on the exploration, appraisal, and development of natural gas projects in Southeast Asia, particularly in offshore waters.
18GF Score

Get the complete analysis for ASX:CRD

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

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