Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -3.2 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Choppies Enterprises's Beneish M-Score or its related term are showing as below:
BOT:CHOPPIES'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.55 Med: -3.24 Max: -2.36
Current: -3.2
During the past 13 years, the highest Beneish M-Score of Choppies Enterprises was -2.36. The lowest was -4.55. And the median was -3.24.
Choppies Enterprises Beneish M-Score Related Terms
Choppies Enterprises Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Choppies Enterprises'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.
BOT:CHOPPIES vs KR, SFM: Beneish M-Score Comparison
For the Grocery Stores subindustry, Choppies Enterprises'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.
Choppies Enterprises Beneish M-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Choppies Enterprises's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Choppies Enterprises'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 Choppies Enterprises 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 * 1.0386
+
0.528 * 0.9822
+
0.404 * 1.1155
+
0.892 * 1.147
+
0.115 * 0.9838
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0374
+
4.679 * -0.198296
-
0.327 * 0.9672
=
-3.20
* 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))
=
(263 / (263 + 1508))
/
(288 / (288 + 1620))
=
0.148504
/
0.150943
=
0.9838
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
=
(97 - 0
-
679)
/
2935
=
-0.198296
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.
Choppies Enterprises has a M-score of -3.20 suggests that the company is unlikely to be a manipulator.
Choppies Enterprises (BOT:CHOPPIES) has a Beneish M-Score of -3.20 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Choppies Enterprises and its competitors. According to the industry distribution chart, Choppies Enterprises ranks #31 out of 295 companies in the Retail - Defensive industry, placing it in the top 10.5%.
Is Choppies Enterprises' Beneish M-Score too high?
Choppies Enterprises' current Beneish M-Score is -3.20. Based on the distribution chart, Choppies Enterprises ranks #31 out of 295 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers. Overall, Choppies Enterprises has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Choppies Enterprises' Beneish M-Score compare to KR and SFM?
According to the Retail - Defensive industry distribution chart, Choppies Enterprises ranks #31 out of 295 companies for Beneish M-Score. This places Choppies Enterprises in the top 11% of its industry — outperforming the majority of peers. 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Choppies Enterprises and its competitors. Choppies Enterprises's current Beneish M-Score is -3.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Choppies Enterprises stock overvalued right now?
Based on GuruFocus' analysis, Choppies Enterprises (BOT:CHOPPIES) is currently considered Significantly Overvalued. The stock's GF Value™ is BWP0.18, compared to a current price of BWP1.49 — trading 727.8% above its estimated fair value. The current Beneish M-Score is -3.20. Choppies Enterprises' overall GF Score™ is 62/100 with 3 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 Choppies Enterprises (BOT:CHOPPIES), the current Beneish M-Score is -3.20 as of Jul. 18, 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 Choppies Enterprises (BOT:CHOPPIES) Overvalued in 2026?
Based on GuruFocus' analysis, Choppies Enterprises stock appears to be overvalued.
The current stock price of BWP1.49 is trading 727.8% above its estimated GF Value™ of BWP0.18.
GuruFocus considers Choppies Enterprises to be Significantly Overvalued.
Key valuation signals for BOT:CHOPPIES:
Beneish M-Score: -3.20
GF Value™: BWP0.18 vs. price of BWP1.49 (727.8% above fair value)
No single metric tells the full story. See the BOT:CHOPPIES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Choppies Enterprises Ltd operates a supermarket chain in Botswana. The company's supermarkets offer international food brands, fast-moving consumer goods products, and Choppies private label products. Its product offerings include groceries, fresh fruit and vegetables, bakery goods, butchery items, takeaways, and value-added financial services. The company's segments include Botswana, Zambia, Zimbabwe, Kamoso Liquor, Rest of Kamoso, and Namibia, with the majority of its revenue derived from Botswana.
62GF Score
Get the complete analysis for BOT:CHOPPIES
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOT:CHOPPIES has been successfully added to your 
