CITAY (Cosco Shipping Development Co) Beneish M-Score: -2.92 (As of Jun. 25, 2026)


CITAY Cosco Shipping Development Co Ltd CITAY
63 GF Score
Price $7.00
GF Value $8.99
! 8 Warning Signs
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What is Cosco Shipping Development Co Beneish M-Score?

Cosco Shipping Development Co CITAY -6.73% 63 Beneish M-Score is -2.92 as of Jun. 25, 2026. GuruFocus rates CITAY with a GF Score™ of 63/100 and a GF Value™ of $8.99. The stock has 8 warning signs investors should review. Among 326 Aerospace & Defense companies, Cosco Shipping Development Co ranks better than 81.9% 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.

Good Sign:

Beneish M-Score -2.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cosco Shipping Development Co's Beneish M-Score or its related term are showing as below:

CITAY' s Beneish M-Score Range Over the Past 10 Years
Min: -6.19   Med: -2.64   Max: 1.92
Current: -2.92

During the past 13 years, the highest Beneish M-Score of Cosco Shipping Development Co was 1.92. The lowest was -6.19. And the median was -2.64.

Cosco Shipping Development Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cosco Shipping Development Co'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.

Cosco Shipping Development Co Beneish M-Score Chart

Cosco Shipping Development Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.48 -3.23 -0.25 -1.71 -2.81

Cosco Shipping Development Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -1.69 -2.03 -3.66 -2.81 -2.92

CITAY vs GE, RTX, BA: Beneish M-Score Comparison

For the Aerospace & Defense subindustry, Cosco Shipping Development Co'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.

Cosco Shipping Development Co Beneish M-Score vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Cosco Shipping Development Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cosco Shipping Development Co's Beneish M-Score falls into.


CITAY
63GF Score
Cosco Shipping Development Co Ltd CITAY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cosco Shipping Development Co 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 Cosco Shipping Development Co 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 * 0.7812+0.528 * 0.9973+0.404 * 0.9239+0.892 * 0.9354+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8414+4.679 * -0.026099-0.327 * 1.0075
=-2.87

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $340 Mil.
Revenue was 868.51 + 800.081 + 1025.831 + 952.643 = $3,647 Mil.
Gross Profit was 124.178 + 175.589 + 166.397 + 184.205 = $650 Mil.
Total Current Assets was $3,709 Mil.
Total Assets was $19,706 Mil.
Property, Plant and Equipment(Net PPE) was $8,033 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $19 Mil.
Total Current Liabilities was $6,906 Mil.
Long-Term Debt & Capital Lease Obligation was $8,115 Mil.
Net Income was 59.947 + 31.044 + 59.014 + 68.229 = $218 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 71.432 + 362.87 + 189.071 + 109.168 = $733 Mil.
 Total Receivables was $465 Mil.
Revenue was 747.349 + 1065.155 + 1146.443 + 940.152 = $3,899 Mil.
Gross Profit was 150.25 + 168.096 + 184.618 + 190.508 = $693 Mil.
Total Current Assets was $2,937 Mil.
Total Assets was $17,921 Mil.
Property, Plant and Equipment(Net PPE) was $7,144 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $24 Mil.
Total Current Liabilities was $6,967 Mil.
Long-Term Debt & Capital Lease Obligation was $6,591 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)
=(339.962 / 3647.065) / (465.225 / 3899.099)
=0.093215 / 0.119316
=0.7812

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)
=(693.472 / 3899.099) / (650.369 / 3647.065)
=0.177854 / 0.178327
=0.9973

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 - (3709.048 + 8032.522) / 19706.111) / (1 - (2937.478 + 7144.093) / 17921.343)
=0.404166 / 0.437454
=0.9239

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
=3647.065 / 3899.099
=0.9354

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 + 7144.093)) / (0 / (0 + 8032.522))
=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)
=(18.965 / 3647.065) / (24.095 / 3899.099)
=0.0052 / 0.00618
=0.8414

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)
=((8114.83 + 6906) / 19706.111) / ((6591.224 + 6967.433) / 17921.343)
=0.762242 / 0.756565
=1.0075

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
=(218.234 - 0 - 732.541) / 19706.111
=-0.026099

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.

Cosco Shipping Development Co has a M-score of -2.87 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 -2.92 mean?
Cosco Shipping Development Co (CITAY) has a Beneish M-Score of -2.92 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cosco Shipping Development Co and its competitors. According to the industry distribution chart, Cosco Shipping Development Co ranks #59 out of 326 companies in the Aerospace & Defense industry, placing it in the top 18.1%.
Is Cosco Shipping Development Co's Beneish M-Score too high?
Cosco Shipping Development Co's current Beneish M-Score is -2.92. Based on the distribution chart, Cosco Shipping Development Co ranks #59 out of 326 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Cosco Shipping Development Co has a GF Score™ of 63/100, reflecting its overall financial health beyond just this single metric.
How does Cosco Shipping Development Co's Beneish M-Score compare to GE and RTX?
According to the Aerospace & Defense industry distribution chart, Cosco Shipping Development Co ranks #59 out of 326 companies for Beneish M-Score. This places Cosco Shipping Development Co in the top 18% 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 an Aerospace & Defense company?
A good Beneish M-Score depends on the Aerospace & Defense 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 Cosco Shipping Development Co and its competitors. Cosco Shipping Development Co's current Beneish M-Score is -2.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cosco Shipping Development Co stock overvalued right now?
Cosco Shipping Development Co (CITAY) has a current Beneish M-Score of -2.92. The stock's GF Value™ is $8.99, compared to a current price of $7.00 — trading 22.1% below its estimated fair value. The current Beneish M-Score is -2.92. Cosco Shipping Development Co's overall GF Score™ is 63/100 with 8 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 Cosco Shipping Development Co (CITAY), the current Beneish M-Score is -2.92 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.

Is Cosco Shipping Development Co (CITAY) Overvalued in 2026?

Based on GuruFocus' analysis, Cosco Shipping Development Co stock appears to be undervalued. The current stock price of $7.00 is trading 22.1% below its estimated GF Value™ of $8.99.

Key valuation signals for CITAY:

  • Beneish M-Score: -2.92
  • GF Value™: $8.99 vs. price of $7.00 (22.1% below fair value)
  • GF Score™: 63/100 with 8 warning signs

No single metric tells the full story. See the CITAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Cosco Shipping Development Co Business Description

Address Lane 1318 Shangcheng Road, No. 1 Building, Pudong New Area, Shanghai, CHN, 200127
Cosco Shipping Development Co Ltd is a China-based company operating and managing container shipping. Its services include container transportation, vessel chartering, cargo canvassing and booking, customs clearance, depot services, container construction, sales, purchase, and vessel management. The operating business segments are the Shipping leasing and container leasing business segment, which derives maximum revenue, renders vessel chartering, container leasing, and finance lease services; the Container manufacturing segment, which manufactures and sells containers; the Investment management business segment, which focuses on equity or debt investment and insurance brokerage services. geographically , the company derives maximum revenue from Chinese Mainland.
63GF 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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$8.99
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