Tigers Realm Coal (ASX:TIG) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


What is Tigers Realm Coal Beneish M-Score?

Tigers Realm Coal ASX:TIG Beneish M-Score is 0.00 as of Jun. 27, 2026.

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 Tigers Realm Coal's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Tigers Realm Coal was 0.00. The lowest was 0.00. And the median was 0.00.

Tigers Realm Coal Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tigers Realm Coal'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.

Tigers Realm Coal Beneish M-Score Chart

Tigers Realm Coal Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.57 0.00 -1.96 1.27 -2.91

Tigers Realm Coal Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 1.27 0.00 -2.91 0.00

ASX:TIG vs HCC, AMR, SXC: Beneish M-Score Comparison

For the Coking Coal subindustry, Tigers Realm Coal'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.

Tigers Realm Coal Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, Tigers Realm Coal's Beneish M-Score distribution charts can be found below:

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


Tigers Realm Coal 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 Tigers Realm Coal 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 * 0.8093+0.528 * 0.8815+0.404 * 0.9487+0.892 * 0.7542+0.115 * 0.8671
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.0573+4.679 * 0.032476-0.327 * 0.7288
=-2.91

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was A$37.7 Mil.
Revenue was A$140.1 Mil.
Gross Profit was A$54.8 Mil.
Total Current Assets was A$130.8 Mil.
Total Assets was A$214.7 Mil.
Property, Plant and Equipment(Net PPE) was A$73.8 Mil.
Depreciation, Depletion and Amortization(DDA) was A$10.2 Mil.
Selling, General, & Admin. Expense(SGA) was A$8.0 Mil.
Total Current Liabilities was A$29.0 Mil.
Long-Term Debt & Capital Lease Obligation was A$2.7 Mil.
Net Income was A$46.1 Mil.
Gross Profit was A$16.4 Mil.
Cash Flow from Operations was A$22.7 Mil.
 Total Receivables was A$61.7 Mil.
Revenue was A$185.8 Mil.
Gross Profit was A$64.1 Mil.
Total Current Assets was A$146.1 Mil.
Total Assets was A$244.7 Mil.
Property, Plant and Equipment(Net PPE) was A$86.5 Mil.
Depreciation, Depletion and Amortization(DDA) was A$10.2 Mil.
Selling, General, & Admin. Expense(SGA) was A$5.2 Mil.
Total Current Liabilities was A$43.8 Mil.
Long-Term Debt & Capital Lease Obligation was A$5.8 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)
=(37.691 / 140.125) / (61.748 / 185.781)
=0.268981 / 0.33237
=0.8093

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)
=(64.094 / 185.781) / (54.844 / 140.125)
=0.344998 / 0.391393
=0.8815

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 - (130.839 + 73.771) / 214.746) / (1 - (146.07 + 86.461) / 244.705)
=0.0472 / 0.04975
=0.9487

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
=140.125 / 185.781
=0.7542

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))
=(10.163 / (10.163 + 86.461)) / (10.184 / (10.184 + 73.771))
=0.105181 / 0.121303
=0.8671

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)
=(8.016 / 140.125) / (5.166 / 185.781)
=0.057206 / 0.027807
=2.0573

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)
=((2.71 + 29.012) / 214.746) / ((5.757 + 43.84) / 244.705)
=0.147719 / 0.202681
=0.7288

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
=(46.111 - 16.417 - 22.72) / 214.746
=0.032476

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.

Tigers Realm Coal has a M-score of -2.91 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 0.00 mean?
Tigers Realm Coal (ASX:TIG) 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 Tigers Realm Coal and its competitors.
Is Tigers Realm Coal's Beneish M-Score too high?
Tigers Realm Coal's current Beneish M-Score is 0.00.
How does Tigers Realm Coal's Beneish M-Score compare to HCC and AMR?
Tigers Realm Coal's Beneish M-Score of 0.00 can be compared against companies in the Steel 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Tigers Realm Coal and its competitors. Tigers Realm Coal'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 Tigers Realm Coal stock overvalued right now?
Tigers Realm Coal (ASX:TIG) 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 Tigers Realm Coal (ASX:TIG), 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.

Tigers Realm Coal Business Description

Address 37 Leningradski Avenue, Moscow, RUS, 125167
Tigers Realm Coal Ltd is engaged in the identification, exploration, development, mining, and sale of coal from deposits in the Far East of the Russian Federation. Its objectives encompass the development of the Amaam Coking Coal Deposits, comprising its two, well-located, large coking coal projects. The Amaam Coal Project is located in the Beringovsky Basin, in the Chukotka Autonomous Okrug. The Amaam North and Amaam deposits are located within separate structural blocks of the Bering Coal Basin. Geographically the company derives revenue from the Asia and Russia region, where dominant revenue comes from Asia. The Group has two reportable segments, Amaam North Project and Amaam Project. The company generates the majority of revenue from the Amaam North Project.