Sietel (ASX:SSL) Beneish M-Score: -2.38 (As of Jun. 24, 2026)

What is Sietel Beneish M-Score?

Sietel ASX:SSL 72 Beneish M-Score is -2.38 as of Jun. 24, 2026. GuruFocus rates ASX:SSL with a GF Score™ of 72/100 and a GF Value™ of A$8.68. The stock has 2 warning signs investors should review.

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 -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:SSL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.09 Med: -2.33 Max: 111.91
Current: -2.38

During the past 13 years, the highest Beneish M-Score of Sietel was 111.91. The lowest was -3.09. And the median was -2.33.

Sietel Beneish M-Score Related Terms

Sietel Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sietel'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.

Sietel Beneish M-Score Chart

Sietel Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-1.83

-3.09

-1.81

-2.75

-2.38

Sietel Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.75	0.00	-2.38	0.00

ASX:SSL vs CBRE, BEKE, CSGP: Beneish M-Score Comparison

For the Real Estate Services subindustry, Sietel'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.

Sietel Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Sietel's Beneish M-Score distribution charts can be found below:

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

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72GF Score

Sietel Ltd ASX:SSL

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Sietel 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 Sietel 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 * 1.4126

0.528 * 0.8783

0.404 * 0.9956

0.892 * 0.8688

0.115 * 0.8849

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1928

4.679 * -0.029301

0.327 * 0.7304

-2.38

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was A$1.31 Mil.
Revenue was A$11.85 Mil.
Gross Profit was A$7.02 Mil.
Total Current Assets was A$4.27 Mil.
Total Assets was A$97.98 Mil.
Property, Plant and Equipment(Net PPE) was A$18.82 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.92 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.12 Mil.
Total Current Liabilities was A$3.52 Mil.
Long-Term Debt & Capital Lease Obligation was A$1.70 Mil.
Net Income was A$1.27 Mil.
Gross Profit was A$2.36 Mil.
Cash Flow from Operations was A$1.78 Mil.

Total Receivables was A$1.07 Mil.
Revenue was A$13.64 Mil.
Gross Profit was A$7.10 Mil.
Total Current Assets was A$3.78 Mil.
Total Assets was A$97.06 Mil.
Property, Plant and Equipment(Net PPE) was A$18.76 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.67 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.08 Mil.
Total Current Liabilities was A$3.98 Mil.
Long-Term Debt & Capital Lease Obligation was A$3.10 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)
	=	(1.307 / 11.852)	/	(1.065 / 13.642)
	=	0.110277	/	0.078068
	=	1.4126

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)
	=	(7.099 / 13.642)	/	(7.022 / 11.852)
	=	0.520378	/	0.592474
	=	0.8783

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 - (4.267 + 18.816) / 97.982)	/	(1 - (3.777 + 18.762) / 97.058)
	=	0.764416	/	0.767778
	=	0.9956

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
	=	11.852	/	13.642
	=	0.8688

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))
	=	(1.671 / (1.671 + 18.762))	/	(1.916 / (1.916 + 18.816))
	=	0.081779	/	0.092418
	=	0.8849

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)
	=	(1.115 / 11.852)	/	(1.076 / 13.642)
	=	0.094077	/	0.078874
	=	1.1928

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)
	=	((1.7 + 3.518) / 97.982)	/	((3.1 + 3.977) / 97.058)
	=	0.053255	/	0.072915
	=	0.7304

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
	=	(1.272 - 2.36	-	1.783)	/	97.982
	=	-0.029301

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.

Sietel has a M-score of -2.38 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 -2.38 mean?

Sietel (ASX:SSL) has a Beneish M-Score of -2.38 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sietel and its competitors.

Is Sietel's Beneish M-Score too high?

Sietel's current Beneish M-Score is -2.38. Overall, Sietel has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.

How does Sietel's Beneish M-Score compare to CBRE and BEKE?

Sietel's Beneish M-Score of -2.38 can be compared against companies in the Real Estate 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 Real Estate company?

A good Beneish M-Score depends on the Real Estate 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 Sietel and its competitors. Sietel's current Beneish M-Score is -2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Sietel stock overvalued right now?

Sietel (ASX:SSL) has a current Beneish M-Score of -2.38. The stock's GF Value™ is A$8.68, compared to a current price of A$8.60 — trading 0.9% below its estimated fair value. The current Beneish M-Score is -2.38. Sietel's overall GF Score™ is 72/100 with 2 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 Sietel (ASX:SSL), the current Beneish M-Score is -2.38 as of Jun. 24, 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.

Is Sietel (ASX:SSL) Overvalued in 2026?

Based on GuruFocus' analysis, Sietel stock appears to be undervalued. The current stock price of A$8.60 is trading 0.9% below its estimated GF Value™ of A$8.68.

Key valuation signals for ASX:SSL:

Beneish M-Score: -2.38
GF Value™: A$8.68 vs. price of A$8.60 (0.9% below fair value)
GF Score™: 72/100 with 2 warning signs

No single metric tells the full story. See the ASX:SSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sietel Business Description

Industry Real Estate Real Estate

Comparable Companies ASX:WOT ASX:DGH ASX:FBR ASX:ACU ASX:AU1 ASX:GDF ASX:LED ASX:EGH ASX:GDI CBRE STC:VIC TSE:8830 XTER:VNA XMAD:CLNX HKSE:01972 BEKE CSGP XTAE:AZRG JLL ADX:MODON

Address 140-144 Cochranes Road, C/- Cook's Body Works P/L, Moorabbin, Melbourne, VIC, AUS, 3189

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

Sietel Ltd through its subsidiaries is engaged in industrial, commercial, retail real estate and listed company securities, provision of finance and lease facilities and plant and management services to its controlled entities, and management, evaluation, and expansion of these and other business opportunities.

72GF Score

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

A$8.60

Price

A$8.68

GF Value

View ASX:SSL Analysis

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