BESAF (Besra Gold) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


What is Besra Gold Beneish M-Score?

Besra Gold BESAF Beneish M-Score is 0.00 as of Jun. 25, 2026. The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, Besra Gold ranks worse than 145985.26% 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.

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

During the past 7 years, the highest Beneish M-Score of Besra Gold was 0.00. The lowest was 0.00. And the median was 0.00.

Besra Gold Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Besra Gold'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.

Besra Gold Beneish M-Score Chart

Besra Gold Annual Data
Trend Dec10 Dec11 Jun13 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial -3.91 0.00 0.00 0.00 0.00

Besra Gold Semi-Annual Data
Dec10 Dec11 Jun13 Dec20 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 0.00 0.00 0.00 0.00 0.00

BESAF vs NEM, AU: Beneish M-Score Comparison

For the Gold subindustry, Besra Gold'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.

Besra Gold Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Besra Gold's Beneish M-Score distribution charts can be found below:

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


Besra Gold 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 Besra Gold 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 $0.27 Mil.
Revenue was $0.01 Mil.
Gross Profit was $0.01 Mil.
Total Current Assets was $11.12 Mil.
Total Assets was $11.59 Mil.
Property, Plant and Equipment(Net PPE) was $0.47 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.13 Mil.
Selling, General, & Admin. Expense(SGA) was $4.16 Mil.
Total Current Liabilities was $1.01 Mil.
Long-Term Debt & Capital Lease Obligation was $0.34 Mil.
Net Income was $-36.77 Mil.
Gross Profit was $-0.00 Mil.
Cash Flow from Operations was $-3.96 Mil.
 Total Receivables was $0.11 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $18.43 Mil.
Total Assets was $41.56 Mil.
Property, Plant and Equipment(Net PPE) was $23.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $3.18 Mil.
Total Current Liabilities was $0.73 Mil.
Long-Term Debt & Capital Lease Obligation was $0.46 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)
=(0.266 / 0.01) / (0.111 / 0)
=26.6 /
=

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 / 0) / (0.01 / 0.01)
= / 1
=

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 - (11.124 + 0.465) / 11.589) / (1 - (18.429 + 23.132) / 41.561)
=0 / 0
=

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
=0.01 / 0
=

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))
=(0.029 / (0.029 + 23.132)) / (0.13 / (0.13 + 0.465))
=0.001252 / 0.218487
=

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)
=(4.156 / 0.01) / (3.184 / 0)
=415.6 /
=

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)
=((0.338 + 1.013) / 11.589) / ((0.461 + 0.726) / 41.561)
=0.116576 / 0.02856
=

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
=(-36.765 - -0.004 - -3.956) / 11.589
=-2.830702

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Besra Gold (BESAF) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Besra Gold and its competitors. According to the industry distribution chart, Besra Gold ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Besra Gold's Beneish M-Score too high?
Besra Gold's current Beneish M-Score is 0.00. Based on the distribution chart, Besra Gold ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers.
How does Besra Gold's Beneish M-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Besra Gold ranks #999999 out of 685 companies for Beneish M-Score. This places Besra Gold 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Besra Gold and its competitors. Besra Gold'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 Besra Gold stock overvalued right now?
Besra Gold (BESAF) 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 Besra Gold (BESAF), the current Beneish M-Score is 0.00 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.

Besra Gold Business Description

Other Exchanges BEZ:Australia
Address 16 Milligan Street, Level 3, Perth, WA, AUS, 6000
Besra Gold Inc is a gold mining company focused on exploration and development of the Bau Goldfield in East Malaysia. It is engaged in the acquisition, exploration, development, and mining of gold-bearing properties in Southeast Asia. It holds interests in mining tenements and applications within the Malaysian State of Sarawak and principally the Bau Gold Project. The company operates in only one operating segment, which is gold exploration in Malaysia.