StreamPlay Studio (ASX:SP8) Beneish M-Score: -1.28 (As of Jun. 28, 2026)


What is StreamPlay Studio Beneish M-Score?

StreamPlay Studio ASX:SP8 Beneish M-Score is -1.28 as of Jun. 28, 2026. The stock has 3 warning signs investors should review. Among 532 Interactive Media companies, StreamPlay Studio ranks worse than 89.29% 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 -1.28 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ASX:SP8' s Beneish M-Score Range Over the Past 10 Years
Min: -4.03   Med: 1.13   Max: 30.1
Current: -1.28

During the past 13 years, the highest Beneish M-Score of StreamPlay Studio was 30.10. The lowest was -4.03. And the median was 1.13.

StreamPlay Studio Beneish M-Score Historical Data

* Premium members only.

The historical data trend for StreamPlay Studio'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.

StreamPlay Studio Beneish M-Score Chart

StreamPlay Studio 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 30.10 3.53 -4.03 -1.28

StreamPlay Studio 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 -4.03 0.00 -1.28 0.00

ASX:SP8 vs NTES, EA, TTWO: Beneish M-Score Comparison

For the Electronic Gaming & Multimedia subindustry, StreamPlay Studio'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.

StreamPlay Studio Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, StreamPlay Studio's Beneish M-Score distribution charts can be found below:

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


StreamPlay Studio 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 StreamPlay Studio 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 * -2.5764+0.528 * 0.5835+0.404 * 4.9442+0.892 * 3.0105+0.115 * 22.6368
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6795+4.679 * -0.156962-0.327 * 2.4885
=-1.28

* 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$0.95 Mil.
Revenue was A$5.45 Mil.
Gross Profit was A$1.84 Mil.
Total Current Assets was A$8.89 Mil.
Total Assets was A$19.13 Mil.
Property, Plant and Equipment(Net PPE) was A$0.20 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.19 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.15 Mil.
Total Current Liabilities was A$4.27 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.08 Mil.
Net Income was A$-2.78 Mil.
Gross Profit was A$1.31 Mil.
Cash Flow from Operations was A$-1.08 Mil.
 Total Receivables was A$-0.12 Mil.
Revenue was A$1.81 Mil.
Gross Profit was A$0.36 Mil.
Total Current Assets was A$14.22 Mil.
Total Assets was A$15.90 Mil.
Property, Plant and Equipment(Net PPE) was A$-0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.05 Mil.
Total Current Liabilities was A$1.45 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)
=(0.954 / 5.452) / (-0.123 / 1.811)
=0.174982 / -0.067918
=-2.5764

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)
=(0.357 / 1.811) / (1.842 / 5.452)
=0.197129 / 0.337858
=0.5835

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 - (8.894 + 0.201) / 19.132) / (1 - (14.222 + -0.01) / 15.899)
=0.524618 / 0.106107
=4.9442

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
=5.452 / 1.811
=3.0105

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))
=(0.011 / (0.011 + -0.01)) / (0.19 / (0.19 + 0.201))
=11 / 0.485934
=22.6368

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)
=(2.146 / 5.452) / (1.049 / 1.811)
=0.393617 / 0.579238
=0.6795

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)
=((0.075 + 4.273) / 19.132) / ((0 + 1.452) / 15.899)
=0.227263 / 0.091326
=2.4885

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
=(-2.775 - 1.309 - -1.081) / 19.132
=-0.156962

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.

StreamPlay Studio has a M-score of -1.28 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 -1.28 mean?
StreamPlay Studio (ASX:SP8) has a Beneish M-Score of -1.28 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on StreamPlay Studio and its competitors. According to the industry distribution chart, StreamPlay Studio ranks #475 out of 532 companies in the Interactive Media industry, placing it in the top 89.3%.
Is StreamPlay Studio's Beneish M-Score too high?
StreamPlay Studio's current Beneish M-Score is -1.28. Based on the distribution chart, StreamPlay Studio ranks #475 out of 532 companies in the Interactive Media industry, which is in the bottom quartile relative to peers.
How does StreamPlay Studio's Beneish M-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, StreamPlay Studio ranks #475 out of 532 companies for Beneish M-Score. This places StreamPlay Studio 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 Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 StreamPlay Studio and its competitors. StreamPlay Studio's current Beneish M-Score is -1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is StreamPlay Studio stock overvalued right now?
Based on GuruFocus' analysis, StreamPlay Studio (ASX:SP8) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.04, compared to a current price of A$0.01 — trading 80% below its estimated fair value. The current Beneish M-Score is -1.28. 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 StreamPlay Studio (ASX:SP8), the current Beneish M-Score is -1.28 as of Jun. 28, 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.

StreamPlay Studio Business Description

Other Exchanges GIX0:Germany
Address 126 - 130 Philip Street, Level 5, Sydney, NSW, AUS, 2000
StreamPlay Studio Ltd is engaged in the acquisition and development of an online gaming platform. The company is engaged in the development of online eSport and gaming tournament platform technology branded ArcadeX. The firm's principal objective is to acquire several assets that provide an online gaming portal that allows users to engage in skill-based competitive gaming competitions in eSports, including peer-to-peer matches and tournaments.