SPC Global HoldingsASX:SPG +5.56% Beneish M-Score is 3.86 as of Jun. 25, 2026. The stock has 6 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, SPC Global Holdings ranks worse than 97.24% 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 3.86 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for SPC Global Holdings's Beneish M-Score or its related term are showing as below:
ASX:SPG'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.45 Med: -2.77 Max: 3.86
Current: 3.86
During the past 13 years, the highest Beneish M-Score of SPC Global Holdings was 3.86. The lowest was -4.45. And the median was -2.77.
SPC Global Holdings Beneish M-Score Related Terms
SPC Global Holdings Beneish M-Score Historical Data
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The historical data trend for SPC Global Holdings'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.
For the Packaged Foods subindustry, SPC Global Holdings'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.
SPC Global Holdings Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, SPC Global Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SPC Global Holdings's Beneish M-Score falls into.
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 SPC Global Holdings 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 * 3.329
+
0.528 * 0.8977
+
0.404 * 0.7214
+
0.892 * 6.4711
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.5287
+
4.679 * -0.079887
-
0.327 * 1.162
=
3.86
* 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.
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.
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))
=
(3.161 / (3.161 + 17.786))
/
(0 / (0 + 203.323))
=
0.150905
/
0
=
1
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
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
=
(-41.143 - -7.662
-
8.623)
/
527.047
=
-0.079887
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.
SPC Global Holdings has a M-score of 3.86 signals that the company is likely to be a manipulator.
SPC Global Holdings (ASX:SPG) has a Beneish M-Score of 3.86 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SPC Global Holdings and its competitors. According to the industry distribution chart, SPC Global Holdings ranks #1798 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 97.2%.
Is SPC Global Holdings' Beneish M-Score too high?
SPC Global Holdings' current Beneish M-Score is 3.86. Based on the distribution chart, SPC Global Holdings ranks #1798 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers.
How does SPC Global Holdings' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, SPC Global Holdings ranks #1798 out of 1849 companies for Beneish M-Score. This places SPC Global Holdings 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 SPC Global Holdings and its competitors. SPC Global Holdings's current Beneish M-Score is 3.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPC Global Holdings stock overvalued right now?
Based on GuruFocus' analysis, SPC Global Holdings (ASX:SPG) is currently considered Possible Value Trap. The stock's GF Value™ is A$1.09, compared to a current price of A$0.10 — trading 91.3% below its estimated fair value. The current Beneish M-Score is 3.86. 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 SPC Global Holdings (ASX:SPG), the current Beneish M-Score is 3.86 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.
SPC Global Holdings Ltd, formerly The Original Juice Co Ltd is an Australian beverage and wellness supplement company, specializing in the development of inventive health-focused products for retail in Australia and Asia. The Group has three reportable segments: SPC, Original Beverage Co, and Nature One. The company generates key revenue from SPC segment.
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