Genting Singapore (FRA:36T) Beneish M-Score: -2.69 (As of Jun. 24, 2026)


FRA:36T Genting Singapore Ltd FRA:36T
61 GF Score
Price €0.39
GF Value €0.53
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Genting Singapore Beneish M-Score?

Genting Singapore FRA:36T 61 Beneish M-Score is -2.69 as of Jun. 24, 2026. GuruFocus rates FRA:36T with a GF Score™ of 61/100 and a GF Value™ of €0.53 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 823 Travel & Leisure companies, Genting Singapore ranks better than 56.01% 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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:36T' s Beneish M-Score Range Over the Past 10 Years
Min: -3.62   Med: -2.62   Max: -1.72
Current: -2.69

During the past 13 years, the highest Beneish M-Score of Genting Singapore was -1.72. The lowest was -3.62. And the median was -2.62.


Genting Singapore Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Genting Singapore'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.

Genting Singapore Beneish M-Score Chart

Genting Singapore 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 -2.69 -1.94 -1.72 -2.43 -2.69

Genting Singapore Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -1.72 0.00 -2.43 0.00 -2.69

FRA:36T vs LVS, MGM, WYNN: Beneish M-Score Comparison

For the Resorts & Casinos subindustry, Genting Singapore'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.


Genting Singapore Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Genting Singapore's Beneish M-Score distribution charts can be found below:

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


FRA:36T
61GF Score
Genting Singapore Ltd FRA:36T
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Genting Singapore 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 Genting Singapore 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 * 0.9253+0.528 * 1.0842+0.404 * 1.2249+0.892 * 0.9068+0.115 * 1.052
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2398+4.679 * -0.043506-0.327 * 1.0458
=-2.75

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €145 Mil.
Revenue was €1,622 Mil.
Gross Profit was €495 Mil.
Total Current Assets was €2,317 Mil.
Total Assets was €6,078 Mil.
Property, Plant and Equipment(Net PPE) was €3,562 Mil.
Depreciation, Depletion and Amortization(DDA) was €237 Mil.
Selling, General, & Admin. Expense(SGA) was €194 Mil.
Total Current Liabilities was €518 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Net Income was €258 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €523 Mil.
Total Receivables was €173 Mil.
Revenue was €1,789 Mil.
Gross Profit was €591 Mil.
Total Current Assets was €2,767 Mil.
Total Assets was €6,528 Mil.
Property, Plant and Equipment(Net PPE) was €3,586 Mil.
Depreciation, Depletion and Amortization(DDA) was €252 Mil.
Selling, General, & Admin. Expense(SGA) was €172 Mil.
Total Current Liabilities was €531 Mil.
Long-Term Debt & Capital Lease Obligation was €1 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)
=(145.064 / 1622.417) / (172.889 / 1789.182)
=0.089412 / 0.09663
=0.9253

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)
=(591.285 / 1789.182) / (494.551 / 1622.417)
=0.330478 / 0.304824
=1.0842

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 - (2316.613 + 3562.177) / 6077.843) / (1 - (2766.897 + 3586.401) / 6527.835)
=0.032751 / 0.026737
=1.2249

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
=1622.417 / 1789.182
=0.9068

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))
=(251.71 / (251.71 + 3586.401)) / (236.833 / (236.833 + 3562.177))
=0.065582 / 0.062341
=1.052

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)
=(193.732 / 1622.417) / (172.317 / 1789.182)
=0.119409 / 0.09631
=1.2398

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)
=((0.247 + 518.002) / 6077.843) / ((1.234 + 531.005) / 6527.835)
=0.085269 / 0.081534
=1.0458

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
=(258.275 - 0 - 522.695) / 6077.843
=-0.043506

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.

Genting Singapore has a M-score of -2.75 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 -2.69 mean?
Genting Singapore (FRA:36T) has a Beneish M-Score of -2.69 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Genting Singapore and its competitors. According to the industry distribution chart, Genting Singapore ranks #362 out of 823 companies in the Travel & Leisure industry, placing it in the top 44%.
Is Genting Singapore's Beneish M-Score too high?
Genting Singapore's current Beneish M-Score is -2.69. Based on the distribution chart, Genting Singapore ranks #362 out of 823 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Genting Singapore has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Genting Singapore's Beneish M-Score compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, Genting Singapore ranks #362 out of 823 companies for Beneish M-Score. This puts Genting Singapore in the upper 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Genting Singapore and its competitors. Genting Singapore's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Genting Singapore stock overvalued right now?
Based on GuruFocus' analysis, Genting Singapore (FRA:36T) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.53, compared to a current price of €0.39 — trading 26.8% below its estimated fair value. The current Beneish M-Score is -2.69. Genting Singapore's overall GF Score™ is 61/100 with 3 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 Genting Singapore (FRA:36T), the current Beneish M-Score is -2.69 as of Jun. 24, 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 Genting Singapore (FRA:36T) Overvalued in 2026?

Based on GuruFocus' analysis, Genting Singapore stock appears to be undervalued. The current stock price of €0.39 is trading 26.8% below its estimated GF Value™ of €0.53. GuruFocus considers Genting Singapore to be Modestly Undervalued.

Key valuation signals for FRA:36T:

  • Beneish M-Score: -2.69
  • GF Value™: €0.53 vs. price of €0.39 (26.8% below fair value)
  • GF Score™: 61/100 with 3 warning signs

No single metric tells the full story. See the FRA:36T stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Genting Singapore Business Description

Address 10 Sentosa Gateway, Resorts World Sentosa, Singapore, SGP, 098270
Genting Singapore is a leading integrated resort operator that operates Resorts World Sentosa, one of two integrated resorts in Singapore. Opened in 2010, RWS features a casino, Universal Studios Singapore theme park, the Singapore Oceanarium, Adventure Cove Waterpark, MICE (meetings, incentives, conventions, and exhibitions) facilities, luxury hotels, Michelin-starred restaurants, and specialty retail outlets. The firm is 52.5% owned by Genting Group, which has over 50 years of experience in the global leisure and gaming industry.
61GF Score

Get the complete analysis for FRA:36T

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

€0.39
Price
€0.53
GF Value