The Star Entertainment Group (ASX:SGR) Beneish M-Score: -3.65 (As of Jun. 25, 2026)

What is The Star Entertainment Group Beneish M-Score?

The Star Entertainment Group ASX:SGR -2.06% Beneish M-Score is -3.65 as of Jun. 25, 2026. The stock has 4 warning signs investors should review. Among 824 Travel & Leisure companies, The Star Entertainment Group ranks better than 94.3% 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 -3.65 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:SGR' s Beneish M-Score Range Over the Past 10 Years
Min: -5.75 Med: -3.03 Max: -2.3
Current: -3.65

During the past 13 years, the highest Beneish M-Score of The Star Entertainment Group was -2.30. The lowest was -5.75. And the median was -3.03.

The Star Entertainment Group Beneish M-Score Related Terms

The Star Entertainment Group Beneish M-Score Historical Data

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The historical data trend for The Star Entertainment Group'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.

The Star Entertainment Group Beneish M-Score Chart

The Star Entertainment Group Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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-3.40

-3.88

-5.75

-2.32

-3.65

The Star Entertainment Group 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	-2.32	0.00	-3.65	0.00

ASX:SGR vs LVS, MGM, WYNN: Beneish M-Score Comparison

For the Resorts & Casinos subindustry, The Star Entertainment Group'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.

The Star Entertainment Group Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, The Star Entertainment Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where The Star Entertainment Group's Beneish M-Score falls into.

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The Star Entertainment Group 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 The Star Entertainment Group 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 * 0.6296

0.528 * 1.0056

0.404 * 1.9452

0.892 * 0.7071

0.115 * 1.6618

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.5943

4.679 * -0.174834

0.327 * 1.3309

-3.65

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was A$21 Mil.
Revenue was A$1,178 Mil.
Gross Profit was A$1,111 Mil.
Total Current Assets was A$341 Mil.
Total Assets was A$1,822 Mil.
Property, Plant and Equipment(Net PPE) was A$1,008 Mil.
Depreciation, Depletion and Amortization(DDA) was A$64 Mil.
Selling, General, & Admin. Expense(SGA) was A$872 Mil.
Total Current Liabilities was A$768 Mil.
Long-Term Debt & Capital Lease Obligation was A$591 Mil.
Net Income was A$-428 Mil.
Gross Profit was A$35 Mil.
Cash Flow from Operations was A$-144 Mil.

Total Receivables was A$47 Mil.
Revenue was A$1,666 Mil.
Gross Profit was A$1,580 Mil.
Total Current Assets was A$543 Mil.
Total Assets was A$1,889 Mil.
Property, Plant and Equipment(Net PPE) was A$1,094 Mil.
Depreciation, Depletion and Amortization(DDA) was A$121 Mil.
Selling, General, & Admin. Expense(SGA) was A$773 Mil.
Total Current Liabilities was A$762 Mil.
Long-Term Debt & Capital Lease Obligation was A$296 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)
	=	(21.1 / 1177.9)	/	(47.4 / 1665.9)
	=	0.017913	/	0.028453
	=	0.6296

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)
	=	(1579.6 / 1665.9)	/	(1110.7 / 1177.9)
	=	0.948196	/	0.942949
	=	1.0056

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 - (341.4 + 1007.5) / 1822.3)	/	(1 - (542.5 + 1094.4) / 1889.2)
	=	0.259782	/	0.133549
	=	1.9452

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
	=	1177.9	/	1665.9
	=	0.7071

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))
	=	(120.6 / (120.6 + 1094.4))	/	(64 / (64 + 1007.5))
	=	0.099259	/	0.059729
	=	1.6618

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)
	=	(871.5 / 1177.9)	/	(773.1 / 1665.9)
	=	0.739876	/	0.464073
	=	1.5943

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)
	=	((590.5 + 767.7) / 1822.3)	/	((295.7 + 762.3) / 1889.2)
	=	0.745322	/	0.560025
	=	1.3309

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
	=	(-427.9 - 34.8	-	-144.1)	/	1822.3
	=	-0.174834

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 Star Entertainment Group has a M-score of -3.65 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 -3.65 mean?

The Star Entertainment Group (ASX:SGR) has a Beneish M-Score of -3.65 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Star Entertainment Group and its competitors. According to the industry distribution chart, The Star Entertainment Group ranks #47 out of 824 companies in the Travel & Leisure industry, placing it in the top 5.7%.

Is The Star Entertainment Group's Beneish M-Score too high?

The Star Entertainment Group's current Beneish M-Score is -3.65. Based on the distribution chart, The Star Entertainment Group ranks #47 out of 824 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers.

How does The Star Entertainment Group's Beneish M-Score compare to LVS and MGM?

According to the Travel & Leisure industry distribution chart, The Star Entertainment Group ranks #47 out of 824 companies for Beneish M-Score. This places The Star Entertainment Group in the top 6% 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 Travel & Leisure company?

A good Beneish M-Score depends on the Travel & Leisure 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 The Star Entertainment Group and its competitors. The Star Entertainment Group's current Beneish M-Score is -3.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is The Star Entertainment Group stock overvalued right now?

Based on GuruFocus' analysis, The Star Entertainment Group (ASX:SGR) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.13, compared to a current price of A$0.10 — trading 26.9% below its estimated fair value. The current Beneish M-Score is -3.65. 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 The Star Entertainment Group (ASX:SGR), the current Beneish M-Score is -3.65 as of Jun. 25, 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.

The Star Entertainment Group Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies ASX:RCT LVS HKSE:00027 HKSE:01928 MGM WYNN STC:VPL BYD CZR SGX:G13 HKSE:02282 MTN HGV XPAR:BAIN HKSE:01128 RRR BOM:544325 VAC XKLS:4715 IST:PKENT

Other Exchanges EHGRF:USA EE9:Germany

Address 159 William Street, Level 3, Brisbane, QLD, AUS, 4000

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

The Star Entertainment Group Ltd is an Australian-based company that operates and manages integrated resorts. The group comprises the following four operating segments: Sydney, Gold Coast, Treasury Brisbane, and The Star Brisbane. It generates the majority of its revenue from the Sydney segment, which comprises the Star Sydney's casino operations, including hotels, restaurants, bars, and other entertainment facilities.