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 -2.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for China Aoyuan Group's Beneish M-Score or its related term are showing as below:
CAOYF'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.43 Med: -2.2 Max: -0.21
Current: -2.64
During the past 13 years, the highest Beneish M-Score of China Aoyuan Group was -0.21. The lowest was -5.43. And the median was -2.20.
China Aoyuan Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for China Aoyuan Group'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.
China Aoyuan Group Beneish M-Score Competitor Comparison
For the Real Estate - Development subindustry, China Aoyuan Group'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.
China Aoyuan Group Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, China Aoyuan Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where China Aoyuan Group'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 China Aoyuan Group 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 * 0.9286
+
0.528 * 2.1616
+
0.404 * 0.9288
+
0.892 * 0.9889
+
0.115 * 0.715
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6673
+
4.679 * -0.137183
-
0.327 * 1.1692
=
-2.64
* 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))
=
(54.341 / (54.341 + 477.732))
/
(43.468 / (43.468 + 260.836))
=
0.102131
/
0.142844
=
0.715
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
=
(-2522.14 - 0
-
-24.692)
/
18205.237
=
-0.137183
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.
China Aoyuan Group has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
China Aoyuan Group (CAOYF) has a Beneish M-Score of -2.64 as of Aug. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Aoyuan Group and its competitors. According to the industry distribution chart, China Aoyuan Group ranks #539 out of 1680 companies in the Real Estate industry, placing it in the top 32.1%.
Is China Aoyuan Group's Beneish M-Score too high?
China Aoyuan Group's current Beneish M-Score is -2.64. Based on the distribution chart, China Aoyuan Group ranks #539 out of 1680 companies in the Real Estate industry, which is above the industry midpoint. Overall, China Aoyuan Group has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does China Aoyuan Group's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, China Aoyuan Group ranks #539 out of 1680 companies for Beneish M-Score. This puts China Aoyuan Group in the upper 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 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 China Aoyuan Group and its competitors. China Aoyuan Group's current Beneish M-Score is -2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Aoyuan Group stock overvalued right now?
China Aoyuan Group (CAOYF) has a current Beneish M-Score of -2.64. The stock's GF Value™ is $0.40, compared to a current price of $0.21 — trading 48.3% below its estimated fair value. The current Beneish M-Score is -2.64. China Aoyuan Group's overall GF Score™ is 12/100 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 China Aoyuan Group (CAOYF), the current Beneish M-Score is -2.64 as of Aug. 31, 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 China Aoyuan Group (CAOYF) Overvalued in 2026?
Based on GuruFocus' analysis, China Aoyuan Group stock appears to be undervalued.
The current stock price of $0.21 is trading 48.3% below its estimated GF Value™ of $0.40.
Key valuation signals for CAOYF:
Beneish M-Score: -2.64
GF Value™: $0.40 vs. price of $0.21 (48.3% below fair value)
No single metric tells the full story. See the CAOYF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Aoyuan Group Ltd is a developer and operator of composite real estate in China. It is also engaged in the health-themed related industries to promote a healthy lifestyle in the city. Its segments include Property development engaged in development and sale of properties; Property investment engaged in lease of investment properties; and Others engaged in hotel operation, provision of services and sales of goods. It derives the majority of the revenue from Property development segment. Geographically, it operates in Mainland China, Hong Kong, and Canda with majority of revenue deriving from Mainland China.
12GF Score
Get the complete analysis for CAOYF
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
CAOYF has been successfully added to your 
