Fareast Finance & Investment (DHA:FAREASTFIN) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


DHA:FAREASTFIN Fareast Finance & Investment Ltd DHA:FAREASTFIN
32 GF Score
Price BDT1.20
! 2 Warning Signs
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What is Fareast Finance & Investment Beneish M-Score?

Fareast Finance & Investment DHA:FAREASTFIN 32 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates DHA:FAREASTFIN with a GF Score™ of 32/100. The stock has 2 warning signs investors should review. Among 483 Credit Services companies, Fareast Finance & Investment ranks worse than 207039.13% 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.

The historical rank and industry rank for Fareast Finance & Investment's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Fareast Finance & Investment was 1.66. The lowest was -3.78. And the median was -3.47.

DHA:FAREASTFIN
32GF Score
Fareast Finance & Investment Ltd DHA:FAREASTFIN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Fareast Finance & Investment 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 Fareast Finance & Investment 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 BDT0.00 Mil.
Revenue was -193.712 + -203.27 + -180.341 + -81.448 = BDT-658.77 Mil.
Gross Profit was -193.712 + -203.27 + -180.341 + -81.448 = BDT-658.77 Mil.
Total Current Assets was BDT0.00 Mil.
Total Assets was BDT10,527.90 Mil.
Property, Plant and Equipment(Net PPE) was BDT2.20 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT0.69 Mil.
Selling, General, & Admin. Expense(SGA) was BDT3.51 Mil.
Total Current Liabilities was BDT0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BDT3,537.02 Mil.
Net Income was -106.648 + -319.289 + -189.174 + -290.219 = BDT-905.33 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = BDT0.00 Mil.
Cash Flow from Operations was 4.299 + -22.78 + -11.177 + -184.97 = BDT-214.63 Mil.
 Total Receivables was BDT0.00 Mil.
Revenue was -182.735 + -181.643 + -170.358 + -73.208 = BDT-607.94 Mil.
Gross Profit was -182.735 + -181.643 + -170.358 + -73.208 = BDT-607.94 Mil.
Total Current Assets was BDT0.00 Mil.
Total Assets was BDT10,803.62 Mil.
Property, Plant and Equipment(Net PPE) was BDT2.85 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT0.61 Mil.
Selling, General, & Admin. Expense(SGA) was BDT7.96 Mil.
Total Current Liabilities was BDT0.00 Mil.
Long-Term Debt & Capital Lease Obligation was BDT3,486.74 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 / -658.771) / (0 / -607.944)
= /
=

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)
=(-607.944 / -607.944) / (-658.771 / -658.771)
= /
=

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 + 2.195) / 10527.901) / (1 - (0 + 2.849) / 10803.624)
=0.999792 / 0.999736
=

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
=-658.771 / -607.944
=

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))
=(0.613 / (0.613 + 2.849)) / (0.692 / (0.692 + 2.195))
=0.177065 / 0.239695
=

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)
=(3.509 / -658.771) / (7.963 / -607.944)
= /
=

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)
=((3537.02 + 0) / 10527.901) / ((3486.736 + 0) / 10803.624)
=0.335966 / 0.322738
=

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
=(-905.33 - 0 - -214.628) / 10527.901
=-0.065607

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Fareast Finance & Investment (DHA:FAREASTFIN) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fareast Finance & Investment and its competitors. According to the industry distribution chart, Fareast Finance & Investment ranks #999999 out of 483 companies in the Credit Services industry.
Is Fareast Finance & Investment's Beneish M-Score too high?
Fareast Finance & Investment's current Beneish M-Score is 0.00. Based on the distribution chart, Fareast Finance & Investment ranks #999999 out of 483 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, Fareast Finance & Investment has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Fareast Finance & Investment's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Fareast Finance & Investment ranks #999999 out of 483 companies for Beneish M-Score. This places Fareast Finance & Investment 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 a Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Fareast Finance & Investment and its competitors. Fareast Finance & Investment's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fareast Finance & Investment stock overvalued right now?
Fareast Finance & Investment (DHA:FAREASTFIN) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Fareast Finance & Investment's overall GF Score™ is 32/100 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 Fareast Finance & Investment (DHA:FAREASTFIN), the current Beneish M-Score is 0.00 as of Jun. 28, 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.

Fareast Finance & Investment Business Description

Address Road No. 21, Simpletree Lighthouse, 10th Floor, Plot-53, , Block-B, Kemal Ataturk Avenue Banani, Dhaka, BGD, 1000
Fareast Finance & Investment Ltd provides lease and term financing. The company also provides short-term finance, factoring, and bond discounts and among others. The company's services include Corporate Finance, Lease Finance, Term Finance, Short Term Finance and Factoring. It includes services to clients for all types of machinery, equipment, and household durables, including vehicles, for the purpose of industrial, commercial, and personal use.
32GF Score

Get the complete analysis for DHA:FAREASTFIN

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

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