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 -2.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Dongfang Electric's Beneish M-Score or its related term are showing as below:
DNGFF'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.07 Med: -2.34 Max: 6.09
Current: -2.31
During the past 13 years, the highest Beneish M-Score of Dongfang Electric was 6.09. The lowest was -5.07. And the median was -2.34.
Dongfang Electric Beneish M-Score Related Terms
Dongfang Electric Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Dongfang Electric'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.
For the Specialty Industrial Machinery subindustry, Dongfang Electric'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.
Dongfang Electric Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Dongfang Electric's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dongfang Electric'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 Dongfang Electric 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 * 1.0653
+
0.528 * 0.8976
+
0.404 * 1.1241
+
0.892 * 1.1428
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.991
+
4.679 * 0.010427
-
0.327 * 0.9982
=
-2.25
* 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))
=
(0 / (0 + 1040.529))
/
(0 / (0 + 1237.668))
=
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
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
=
(606.449 - 0
-
359.658)
/
23668.267
=
0.010427
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.
Dongfang Electric has a M-score of -2.25 suggests that the company is unlikely to be a manipulator.
Dongfang Electric (DNGFF) has a Beneish M-Score of -2.31 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dongfang Electric and its competitors. According to the industry distribution chart, Dongfang Electric ranks #1813 out of 2926 companies in the Industrial Products industry, placing it in the top 62%.
Is Dongfang Electric's Beneish M-Score too high?
Dongfang Electric's current Beneish M-Score is -2.31. Based on the distribution chart, Dongfang Electric ranks #1813 out of 2926 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Dongfang Electric has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dongfang Electric's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Dongfang Electric ranks #1813 out of 2926 companies for Beneish M-Score. This places Dongfang Electric 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Dongfang Electric and its competitors. Dongfang Electric's current Beneish M-Score is -2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dongfang Electric stock overvalued right now?
Based on GuruFocus' analysis, Dongfang Electric (DNGFF) is currently considered Modestly Overvalued. The stock's GF Value™ is $2.45, compared to a current price of $2.88 — trading 17.3% above its estimated fair value. The current Beneish M-Score is -2.31. Dongfang Electric's overall GF Score™ is 77/100 with 5 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 Dongfang Electric (DNGFF), the current Beneish M-Score is -2.31 as of Jun. 26, 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 Dongfang Electric (DNGFF) Overvalued in 2026?
Based on GuruFocus' analysis, Dongfang Electric stock appears to be overvalued.
The current stock price of $2.88 is trading 17.3% above its estimated GF Value™ of $2.45.
GuruFocus considers Dongfang Electric to be Modestly Overvalued.
Key valuation signals for DNGFF:
Beneish M-Score: -2.31
GF Value™: $2.45 vs. price of $2.88 (17.3% above fair value)
No single metric tells the full story. See the DNGFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dongfang Electric Corp Ltd operates in the energy equipment manufacturing industry and provides high-end equipment and related services for energy production and utilization. The Company has a one core, two wings industrial layout with energy equipment manufacturing as the core and manufacturing services and emerging industries as growth engines. It engages in the development, design, manufacturing and sales of energy equipment including thermal, hydropower, nuclear, gas and wind power, provides services such as power station services, integrated energy and supply chain, and develops emerging industries including energy storage, hydrogen energy, environmental protection, industrial drive, power electronics and solar energy.
77GF Score
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