Sheffield Resources (ASX:SFX) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


What is Sheffield Resources Beneish M-Score?

Sheffield Resources ASX:SFX +9.76% Beneish M-Score is 0.00 as of Jun. 27, 2026. Among 685 Metals & Mining companies, Sheffield Resources ranks worse than 145985.26% 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 Sheffield Resources's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Sheffield Resources was 0.00. The lowest was 0.00. And the median was 0.00.

Sheffield Resources Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sheffield Resources'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.

Sheffield Resources Beneish M-Score Chart

Sheffield Resources Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Sheffield Resources 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Sheffield Resources Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Sheffield Resources'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.

Sheffield Resources Beneish M-Score vs Metals & Mining Industry

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

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


Sheffield Resources 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 Sheffield Resources 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$0.04 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$116.81 Mil.
Property, Plant and Equipment(Net PPE) was A$3.77 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.01 Mil.
Total Current Liabilities was A$0.24 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-22.05 Mil.
Gross Profit was A$-19.38 Mil.
Cash Flow from Operations was A$-2.37 Mil.
 Total Receivables was A$0.05 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$9.93 Mil.
Total Assets was A$139.65 Mil.
Property, Plant and Equipment(Net PPE) was A$3.77 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.41 Mil.
Total Current Liabilities was A$0.45 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 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)
=(0.035 / 0) / (0.053 / 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 - (7.123 + 3.774) / 116.806) / (1 - (9.931 + 3.774) / 139.649)
=0.906709 / 0.901861
=

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 / (0 + 3.774)) / (0 / (0 + 3.774))
=0 / 0
=

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)
=(2.011 / 0) / (2.407 / 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)
=((0 + 0.243) / 116.806) / ((0 + 0.447) / 139.649)
=0.00208 / 0.003201
=

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
=(-22.05 - -19.382 - -2.37) / 116.806
=-0.002551

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?
Sheffield Resources (ASX:SFX) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sheffield Resources and its competitors. According to the industry distribution chart, Sheffield Resources ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Sheffield Resources' Beneish M-Score too high?
Sheffield Resources' current Beneish M-Score is 0.00. Based on the distribution chart, Sheffield Resources ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers.
How does Sheffield Resources' Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Sheffield Resources ranks #999999 out of 685 companies for Beneish M-Score. This places Sheffield Resources 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 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 Sheffield Resources and its competitors. Sheffield Resources'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 Sheffield Resources stock overvalued right now?
Sheffield Resources (ASX:SFX) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Sheffield Resources (ASX:SFX), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Sheffield Resources Business Description

Address 45 Ventnor Avenue, Level 1, The Park Business Centre, West Perth, Perth, WA, AUS, 6005
Sheffield Resources Ltd is focused on expanding its mineral sands portfolio through a joint venture operating the Thunderbird mine in Western Australia. The company is also pursuing the South Atlantic project in Brazil and the Eastern Mineral Sands project in Sri Lanka, aiming to grow through strategic partnerships, securing supply agreements, and attracting project financing to meet rising demand for mineral sands products.