JPMorgan China Growth &ome (CHIX:JCGIL) Beneish M-Score: 6.00 (As of Jun. 25, 2026) — 127% Above Median


CHIX:JCGIL JPMorgan China Growth & Income PLC CHIX:JCGIL
32 GF Score
Price £2.25
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What is JPMorgan China Growth &ome Beneish M-Score?

JPMorgan China Growth &ome CHIX:JCGIL 32 Beneish M-Score is 6.00 as of Jun. 25, 2026, which is 127% above its 10-year median of 2.64. GuruFocus rates CHIX:JCGIL with a GF Score™ of 32/100. The stock has 3 warning signs investors should review. Among 955 Asset Management companies, JPMorgan China Growth &ome ranks worse than 93.72% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score 6 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for JPMorgan China Growth &ome's Beneish M-Score or its related term are showing as below:

CHIX:JCGIl' s Beneish M-Score Range Over the Past 10 Years
Min: -14.26   Med: 2.64   Max: 34.18
Current: 6

During the past 13 years, the highest Beneish M-Score of JPMorgan China Growth &ome was 34.18. The lowest was -14.26. And the median was 2.64.

CHIX:JCGIL
32GF Score
JPMorgan China Growth & Income PLC CHIX:JCGIL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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JPMorgan China Growth &ome 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 JPMorgan China Growth &ome 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+0.528 * 1+0.404 * 1+0.892 * 8.8375+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.1056+4.679 * 0.215392-0.327 * 0
=6.00

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was £0.00 Mil.
Revenue was £64.40 Mil.
Gross Profit was £64.40 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £285.53 Mil.
Property, Plant and Equipment(Net PPE) was £0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.00 Mil.
Selling, General, & Admin. Expense(SGA) was £0.60 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £0.00 Mil.
Net Income was £63.47 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £1.97 Mil.
 Total Receivables was £0.00 Mil.
Revenue was £7.29 Mil.
Gross Profit was £7.29 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £238.67 Mil.
Property, Plant and Equipment(Net PPE) was £0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.00 Mil.
Selling, General, & Admin. Expense(SGA) was £0.65 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £8.70 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 / 64.399) / (0 / 7.287)
=0 / 0
=1

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)
=(7.287 / 7.287) / (64.399 / 64.399)
=1 / 1
=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 - (0 + 0) / 285.526) / (1 - (0 + 0) / 238.665)
=1 / 1
=1

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
=64.399 / 7.287
=8.8375

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 / (0 + 0)) / (0 / (0 + 0))
= /
=1

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)
=(0.604 / 64.399) / (0.647 / 7.287)
=0.009379 / 0.088788
=0.1056

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 + 0) / 285.526) / ((8.699 + 0) / 238.665)
=0 / 0.036449
=0

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
=(63.465 - 0 - 1.965) / 285.526
=0.215392

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.

JPMorgan China Growth &ome has a M-score of 6.00 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 6.00 mean?
JPMorgan China Growth &ome (CHIX:JCGIL) has a Beneish M-Score of 6.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on JPMorgan China Growth &ome and its competitors. This is 127% above median its historical median of 2.64. According to the industry distribution chart, JPMorgan China Growth &ome ranks #895 out of 955 companies in the Asset Management industry, placing it in the top 93.7%.
Is JPMorgan China Growth &ome's Beneish M-Score too high?
JPMorgan China Growth &ome's current Beneish M-Score of 6.00 is 127% above median its 10-year median of 2.64. Based on the distribution chart, JPMorgan China Growth &ome ranks #895 out of 955 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, JPMorgan China Growth &ome has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does JPMorgan China Growth &ome's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, JPMorgan China Growth &ome ranks #895 out of 955 companies for Beneish M-Score. This places JPMorgan China Growth &ome 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 JPMorgan China Growth &ome and its competitors. JPMorgan China Growth &ome's current Beneish M-Score is 6.00, which is 127% above median its own 10-year median of 2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JPMorgan China Growth &ome stock overvalued right now?
JPMorgan China Growth &ome (CHIX:JCGIL) has a current Beneish M-Score of 6.00. The current Beneish M-Score is 6.00, which is 127% above median its 10-year median of 2.64. JPMorgan China Growth &ome's overall GF Score™ is 32/100 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 JPMorgan China Growth &ome (CHIX:JCGIL), the current Beneish M-Score is 6.00 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.

JPMorgan China Growth &ome Business Description

Other Exchanges JCGI:UK
Address 60 Victoria Embankment, London, GBR, EC4Y0JP
JPMorgan China Growth & Income PLC is an investment trust company. Its investment objective is to provide long-term capital growth by investment in Greater China companies. The company seeks to achieve its determined objectives; it invests in securities quoted on the stock exchanges of China, Hong Kong, and Taiwan, or which derive a substantial part of their revenues or profits from these territories. It may use gearing up to a maximum level of nearly 20% of shareholders' funds to increase potential returns to shareholders. The company invests no more than 15% of gross assets in other UK-listed investment companies. It reviews its performance against the MSCI China Index, with net dividends reinvested, in sterling terms.
32GF Score

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

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