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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 -3.01 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for China Modern Dairy Holdings's Beneish M-Score or its related term are showing as below:
FRA:07M'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.27 Med: -3.07 Max: -2.02
Current: -3.01
During the past 13 years, the highest Beneish M-Score of China Modern Dairy Holdings was -2.02. The lowest was -3.27. And the median was -3.07.
* 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.
FRA:07M vs ADM, BG, TSN: Beneish M-Score Comparison
For the Farm Products subindustry, China Modern Dairy Holdings'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.
China Modern Dairy Holdings Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, China Modern Dairy Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where China Modern Dairy Holdings's Beneish M-Score falls into.
China Modern Dairy Holdings 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 China Modern Dairy Holdings 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 * 1.0659
+
0.528 * 0.9499
+
0.404 * 0.8926
+
0.892 * 0.8788
+
0.115 * 0.9786
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0596
+
4.679 * -0.099266
-
0.327 * 1.0923
=
-3.10
* 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))
=
(70.263 / (70.263 + 1326.016))
/
(64.703 / (64.703 + 1193.542))
=
0.050322
/
0.051423
=
0.9786
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
=
(-136.848 - 0
-
303.414)
/
4435.194
=
-0.099266
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.
China Modern Dairy Holdings has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.
China Modern Dairy Holdings (FRA:07M) has a Beneish M-Score of -3.01 as of Sep. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Modern Dairy Holdings and its competitors. According to the industry distribution chart, China Modern Dairy Holdings ranks #303 out of 1869 companies in the Consumer Packaged Goods industry, placing it in the top 16.2%.
Is China Modern Dairy Holdings' Beneish M-Score too high?
China Modern Dairy Holdings' current Beneish M-Score is -3.01. Based on the distribution chart, China Modern Dairy Holdings ranks #303 out of 1869 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, China Modern Dairy Holdings has a GF Score™ of 55/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Modern Dairy Holdings' Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, China Modern Dairy Holdings ranks #303 out of 1869 companies for Beneish M-Score. This places China Modern Dairy Holdings in the top 16% 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 a Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 China Modern Dairy Holdings and its competitors. China Modern Dairy Holdings's current Beneish M-Score is -3.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Modern Dairy Holdings stock overvalued right now?
Based on GuruFocus' analysis, China Modern Dairy Holdings (FRA:07M) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.10, compared to a current price of €0.16 — trading 55% above its estimated fair value. The current Beneish M-Score is -3.01. China Modern Dairy Holdings' overall GF Score™ is 55/100 with 10 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 China Modern Dairy Holdings (FRA:07M), the current Beneish M-Score is -3.01 as of Sep. 01, 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 China Modern Dairy Holdings (FRA:07M) Overvalued in 2026?
Based on GuruFocus' analysis, China Modern Dairy Holdings stock appears to be overvalued.
The current stock price of €0.16 is trading 55% above its estimated GF Value™ of €0.10.
GuruFocus considers China Modern Dairy Holdings to be Significantly Overvalued.
Key valuation signals for FRA:07M:
Beneish M-Score: -3.01
GF Value™: €0.10 vs. price of €0.16 (55% above fair value)
No single metric tells the full story. See the FRA:07M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Modern Dairy Holdings Ltd operates in the Chinese food industry. The business of the company includes the production of raw milk, and its revenue mainly depends on the sale of raw milk. The company produces and sells raw milk to customers for processing into dairy products, Liquid Milk, ice cream, formula milk and other dairy products business, which relates to its sale of liquid milk products. It also engaged in new business areas such as feed business, intelligent e-commerce platforms, and forage grass planting. The segments of the company are the Raw milk business and the integrated dairy farming solutions business. The company generates the majority of its revenue from the Raw milk business that engages in raising and breeding dairy cows to produce and sell raw milk.
55GF Score
Get the complete analysis for FRA:07M
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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