CREG (Smart Powerr) Beneish M-Score: 245.03 (As of Jun. 25, 2026) — 10327% Above Median

What is Smart Powerr Beneish M-Score?

Smart Powerr CREG -2.39% 33 Beneish M-Score is 245.03 as of Jun. 25, 2026, which is 10327% above its 10-year median of 2.35. GuruFocus rates CREG with a GF Score™ of 33/100. The stock has 2 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Smart Powerr ranks worse than 99.49% 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.

Warning Sign:

Beneish M-Score 245.03 higher than -1.78, which implies that the company might have manipulated its financial results.

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

CREG' s Beneish M-Score Range Over the Past 10 Years
Min: -4.04 Med: 2.35 Max: 245.03
Current: 245.03

During the past 13 years, the highest Beneish M-Score of Smart Powerr was 245.03. The lowest was -4.04. And the median was 2.35.

Smart Powerr Beneish M-Score Related Terms

Smart Powerr Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Smart Powerr'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.

Smart Powerr Beneish M-Score Chart

Smart Powerr Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

Get a 7-Day Free Trial

0.00

Smart Powerr 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															0.00	0.00	0.00	0.00	245.03

CREG vs CLNV, HTOO, CPWR: Beneish M-Score Comparison

For the Utilities - Renewable subindustry, Smart Powerr'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.

Smart Powerr Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Smart Powerr's Beneish M-Score distribution charts can be found below:

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

Save Embed

33GF Score

Smart Powerr Corp CREG

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Smart Powerr 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 Smart Powerr for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.0154

0.528 * 0.9202

0.404 * 581

0.892 * 16.6667

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.0745

4.679 * -0.031149

0.327 * 0.5372

245.03

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $0.07 Mil.
Revenue was 0.108 + 0.089 + 0.091 + 0.062 = $0.35 Mil.
Gross Profit was 0.055 + 0.037 + 0.044 + 0.027 = $0.16 Mil.
Total Current Assets was $158.86 Mil.
Total Assets was $159.65 Mil.
Property, Plant and Equipment(Net PPE) was $0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.06 Mil.
Selling, General, & Admin. Expense(SGA) was $2.55 Mil.
Total Current Liabilities was $8.59 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.547 + -0.47 + -0.3 + -1.245 = $-2.56 Mil.
Non Operating Income was 0.09 + 0.165 + 0 + 0 = $0.26 Mil.
Cash Flow from Operations was -0.126 + 2.466 + -0.053 + -0.131 = $2.16 Mil.

Total Receivables was $0.26 Mil.
Revenue was 0.021 + 0 + 0 + 0 = $0.02 Mil.
Gross Profit was 0.009 + 0 + 0 + 0 = $0.01 Mil.
Total Current Assets was $129.86 Mil.
Total Assets was $130.75 Mil.
Property, Plant and Equipment(Net PPE) was $0.89 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $2.06 Mil.
Total Current Liabilities was $13.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.06 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)
	=	(0.067 / 0.35)	/	(0.261 / 0.021)
	=	0.191429	/	12.428571
	=	0.0154

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)
	=	(0.009 / 0.021)	/	(0.163 / 0.35)
	=	0.428571	/	0.465714
	=	0.9202

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 - (158.861 + 0.051) / 159.654)	/	(1 - (129.857 + 0.89) / 130.748)
	=	0.004648	/	8.0E-6
	=	581

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
	=	0.35	/	0.021
	=	16.6667

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 + 0.89))	/	(0.057 / (0.057 + 0.051))
	=	0	/	0.527778
	=	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)
	=	(2.554 / 0.35)	/	(2.056 / 0.021)
	=	7.297143	/	97.904762
	=	0.0745

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 + 8.594) / 159.654)	/	((0.057 + 13.044) / 130.748)
	=	0.053829	/	0.1002
	=	0.5372

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
	=	(-2.562 - 0.255	-	2.156)	/	159.654
	=	-0.031149

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.

Smart Powerr has a M-score of 245.03 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 245.03 mean?

Smart Powerr (CREG) has a Beneish M-Score of 245.03 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Smart Powerr and its competitors. This is 10327% above median its historical median of 2.35. According to the industry distribution chart, Smart Powerr ranks #388 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 99.5%.

Is Smart Powerr's Beneish M-Score too high?

Smart Powerr's current Beneish M-Score of 245.03 is 10327% above median its 10-year median of 2.35. Based on the distribution chart, Smart Powerr ranks #388 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Smart Powerr has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.

How does Smart Powerr's Beneish M-Score compare to CLNV and HTOO?

According to the Utilities - Independent Power Producers industry distribution chart, Smart Powerr ranks #388 out of 390 companies for Beneish M-Score. This places Smart Powerr 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 Utilities - Independent Power Producers company?

A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Smart Powerr and its competitors. Smart Powerr's current Beneish M-Score is 245.03, which is 10327% above median its own 10-year median of 2.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Smart Powerr stock overvalued right now?

Smart Powerr (CREG) has a current Beneish M-Score of 245.03. The current Beneish M-Score is 245.03, which is 10327% above median its 10-year median of 2.35. Smart Powerr's overall GF Score™ is 33/100 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 Smart Powerr (CREG), the current Beneish M-Score is 245.03 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.

Smart Powerr Business Description

Industry Utilities Utilities - Independent Power Producers

Comparable Companies CLNV HTOO CPWR BNRG ETRXF WNDW BESS VGAS SHSE:600900 SHSE:600930 OCSE:ORSTED SHSE:600025 BOM:541450 ISX:BREN BSP:AXIA3 WBO:VER OHEL:FORTUM SHSE:600905 XLIS:EDPR SHSE:600886

Address Rong Cheng Yun Gu Building Keji 3rd Road, 4th Floor, Tower C, Yanta District, Shaan Xi Province, Xi’an, CHN, 710075

Website http://www.creg-cn.com

Smart Powerr Corp is engaged in waste energy recycling and is a developer of energy efficiency solutions for various energy intensive industries in China. It uses Build-Operate-Transfer (BOT) model to provide energy saving and recovery facilities for multiple energy intensive industries in China. Its waste energy recycling projects allow customers which use substantial amounts of electricity to recapture previously wasted pressure, heat, and gas from their manufacturing processes to generate electricity. It provides a clean-technology and energy-efficient solution aimed at reducing the air pollution and energy shortage problems in China. The company's operations are conducted in one industry segment. All of its assets are located in the PRC.

33GF Score

Get the complete analysis for CREG

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

$2.25

Price

View CREG Analysis

See Beneish M-Score data for all stocks →