Straits Trading Co (FRA:W2F) Beneish M-Score: -2.90 (As of Jun. 26, 2026)

What is Straits Trading Co Beneish M-Score?

Straits Trading Co FRA:W2F 72 Beneish M-Score is -2.90 as of Jun. 26, 2026. GuruFocus rates FRA:W2F with a GF Score™ of 72/100 and a GF Value™ of €1.16. The stock has 9 warning signs investors should review. Among 685 Metals & Mining companies, Straits Trading Co ranks better than 77.66% 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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:W2F' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9 Med: -2.41 Max: -1.43
Current: -2.9

During the past 13 years, the highest Beneish M-Score of Straits Trading Co was -1.43. The lowest was -2.90. And the median was -2.41.

Straits Trading Co Beneish M-Score Related Terms

Straits Trading Co Beneish M-Score Historical Data

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The historical data trend for Straits Trading Co'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.

Straits Trading Co Beneish M-Score Chart

Straits Trading Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.18

-1.43

-2.90

-2.27

-2.90

Straits Trading Co 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															-2.90	0.00	-2.27	0.00	-2.90

Straits Trading Co Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Straits Trading Co'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.

Straits Trading Co Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Straits Trading Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Straits Trading Co's Beneish M-Score falls into.

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72GF Score

Straits Trading Co Ltd FRA:W2F

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

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Straits Trading Co 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 Straits Trading Co 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 * 0.9161

0.528 * 0.9817

0.404 * 0.9293

0.892 * 1.0328

0.115 * 0.8224

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7505

4.679 * -0.092867

0.327 * 0.9542

-2.96

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was €68.4 Mil.
Revenue was €412.4 Mil.
Gross Profit was €99.2 Mil.
Total Current Assets was €569.4 Mil.
Total Assets was €2,028.6 Mil.
Property, Plant and Equipment(Net PPE) was €90.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €7.3 Mil.
Selling, General, & Admin. Expense(SGA) was €9.5 Mil.
Total Current Liabilities was €528.6 Mil.
Long-Term Debt & Capital Lease Obligation was €488.7 Mil.
Net Income was €-164.8 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €23.6 Mil.

Total Receivables was €72.3 Mil.
Revenue was €399.3 Mil.
Gross Profit was €94.3 Mil.
Total Current Assets was €595.3 Mil.
Total Assets was €2,516.9 Mil.
Property, Plant and Equipment(Net PPE) was €94.8 Mil.
Depreciation, Depletion and Amortization(DDA) was €6.2 Mil.
Selling, General, & Admin. Expense(SGA) was €12.2 Mil.
Total Current Liabilities was €584.0 Mil.
Long-Term Debt & Capital Lease Obligation was €738.8 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)
	=	(68.405 / 412.41)	/	(72.298 / 399.303)
	=	0.165866	/	0.18106
	=	0.9161

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)
	=	(94.298 / 399.303)	/	(99.205 / 412.41)
	=	0.236157	/	0.240549
	=	0.9817

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 - (569.361 + 90.894) / 2028.646)	/	(1 - (595.306 + 94.765) / 2516.907)
	=	0.674534	/	0.725826
	=	0.9293

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
	=	412.41	/	399.303
	=	1.0328

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))
	=	(6.182 / (6.182 + 94.765))	/	(7.313 / (7.313 + 90.894))
	=	0.06124	/	0.074465
	=	0.8224

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)
	=	(9.457 / 412.41)	/	(12.201 / 399.303)
	=	0.022931	/	0.030556
	=	0.7505

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)
	=	((488.711 + 528.589) / 2028.646)	/	((738.792 + 583.998) / 2516.907)
	=	0.501467	/	0.525562
	=	0.9542

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
	=	(-164.84 - 0	-	23.554)	/	2028.646
	=	-0.092867

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.

Straits Trading Co has a M-score of -2.96 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 -2.90 mean?

Straits Trading Co (FRA:W2F) has a Beneish M-Score of -2.90 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Straits Trading Co and its competitors. According to the industry distribution chart, Straits Trading Co ranks #153 out of 685 companies in the Metals & Mining industry, placing it in the top 22.3%.

Is Straits Trading Co's Beneish M-Score too high?

Straits Trading Co's current Beneish M-Score is -2.90. Based on the distribution chart, Straits Trading Co ranks #153 out of 685 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Straits Trading Co has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.

How does Straits Trading Co's Beneish M-Score compare to competitors?

According to the Metals & Mining industry distribution chart, Straits Trading Co ranks #153 out of 685 companies for Beneish M-Score. This places Straits Trading Co in the top 22% 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 Metals & Mining company?

A good Beneish M-Score depends on the Metals & Mining 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 Straits Trading Co and its competitors. Straits Trading Co's current Beneish M-Score is -2.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Straits Trading Co stock overvalued right now?

Straits Trading Co (FRA:W2F) has a current Beneish M-Score of -2.90. The stock's GF Value™ is €1.16, compared to a current price of €1.08 — trading 6.9% below its estimated fair value. The current Beneish M-Score is -2.90. Straits Trading Co's overall GF Score™ is 72/100 with 9 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 Straits Trading Co (FRA:W2F), the current Beneish M-Score is -2.90 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 Straits Trading Co (FRA:W2F) Overvalued in 2026?

Based on GuruFocus' analysis, Straits Trading Co stock appears to be undervalued. The current stock price of €1.08 is trading 6.9% below its estimated GF Value™ of €1.16.

Key valuation signals for FRA:W2F:

Beneish M-Score: -2.90
GF Value™: €1.16 vs. price of €1.08 (6.9% below fair value)
GF Score™: 72/100 with 9 warning signs

No single metric tells the full story. See the FRA:W2F stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Straits Trading Co Business Description

Industry Basic Materials Metals & Mining

Comparable Companies SGX:5WV ASX:BHP ASX:RIO LSE:RIO MEX:GMEXICOB LSE:GLEN BSP:VALE3 SAU:1211 LSE:AAL HKSE:03993 ASX:FMG TSX:TECK.B BOM:500188 SHSE:600111 MEX:PE&OLES SZSE:000657 CAS:MNG OSTO:BOL XKRX:010130 ASX:S32

Other Exchanges S20:Singapore

Address 1 Wallich Street, No. 15-01, Guoco Tower, Singapore, SGP, 078881

Website https://www.straitstrading.com.sg

Straits Trading Co Ltd is an investment company. The company operates in four business segments, Resources segment involved in the smelting of tin concentrates and tin bearing materials, the production of various grades of refined tin metal and the sale and delivery of refined tin metal and by-products, as well as investments in other metals and mineral resources. The Real Estate segment comprises s property investment, sales and leasing, property development, as well as property and real estate fund management. Its Hospitality business includes hotel ownership and hotel management under Far East Hospitality Holdings Pte. Ltd. It derives maximum revenue from the Resources segment. Geographically, it derives a majority of revenue from Malaysia.

72GF Score

Get the complete analysis for FRA:W2F

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

€1.08

Price

€1.16

GF Value

View FRA:W2F Analysis

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