HBNB (Hotel101 Global Holdings) Beneish M-Score: 25.38 (As of Jul. 04, 2026) — 99% Below Median


HBNB Hotel101 Global Holdings Corp HBNB
12 GF Score
Price $5.38
! 2 Warning Signs
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What is Hotel101 Global Holdings Beneish M-Score?

Hotel101 Global Holdings HBNB +1.22% 12 Beneish M-Score is 25.38 as of Jul. 04, 2026, which is 99% below its 10-year median of 2,659.77. GuruFocus rates HBNB with a GF Score™ of 12/100. The stock has 2 warning signs investors should review. Among 1,680 Real Estate companies, Hotel101 Global Holdings ranks worse than 98.87% 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.

Warning Sign:

Beneish M-Score 25.38 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Hotel101 Global Holdings's Beneish M-Score or its related term are showing as below:

HBNB' s Beneish M-Score Range Over the Past 10 Years
Min: 25.38   Med: 2659.77   Max: 5294.15
Current: 25.38

During the past 4 years, the highest Beneish M-Score of Hotel101 Global Holdings was 5294.15. The lowest was 25.38. And the median was 2659.77.

Hotel101 Global Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hotel101 Global Holdings'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.

Hotel101 Global Holdings Beneish M-Score Chart

Hotel101 Global Holdings Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 5,294.15 25.38

Hotel101 Global Holdings Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 5,294.15 0.00 25.38

HBNB vs MMI, AGNT, KW: Beneish M-Score Comparison

For the Real Estate Services subindustry, Hotel101 Global 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.

Hotel101 Global Holdings Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Hotel101 Global Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hotel101 Global Holdings's Beneish M-Score falls into.


HBNB
12GF Score
Hotel101 Global Holdings Corp HBNB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hotel101 Global 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 Hotel101 Global 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 * 1.0869+0.528 * 1.0131+0.404 * 41.1811+0.892 * 12.7764+0.115 * 0.8519
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3596+4.679 * 0.190306-0.327 * 0.8508
=25.38

* 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 $22.30 Mil.
Revenue was $75.87 Mil.
Gross Profit was $32.45 Mil.
Total Current Assets was $128.37 Mil.
Total Assets was $152.30 Mil.
Property, Plant and Equipment(Net PPE) was $7.58 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.77 Mil.
Selling, General, & Admin. Expense(SGA) was $28.83 Mil.
Total Current Liabilities was $126.80 Mil.
Long-Term Debt & Capital Lease Obligation was $0.73 Mil.
Net Income was $-26.71 Mil.
Gross Profit was $-13.46 Mil.
Cash Flow from Operations was $-42.24 Mil.
 Total Receivables was $1.61 Mil.
Revenue was $5.94 Mil.
Gross Profit was $2.57 Mil.
Total Current Assets was $79.63 Mil.
Total Assets was $86.67 Mil.
Property, Plant and Equipment(Net PPE) was $6.82 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.58 Mil.
Selling, General, & Admin. Expense(SGA) was $6.28 Mil.
Total Current Liabilities was $84.62 Mil.
Long-Term Debt & Capital Lease Obligation was $0.68 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)
=(22.302 / 75.866) / (1.606 / 5.938)
=0.293966 / 0.270461
=1.0869

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)
=(2.573 / 5.938) / (32.449 / 75.866)
=0.433311 / 0.427715
=1.0131

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 - (128.374 + 7.577) / 152.302) / (1 - (79.627 + 6.821) / 86.674)
=0.107359 / 0.002607
=41.1811

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
=75.866 / 5.938
=12.7764

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))
=(0.584 / (0.584 + 6.821)) / (0.773 / (0.773 + 7.577))
=0.078866 / 0.092575
=0.8519

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)
=(28.831 / 75.866) / (6.275 / 5.938)
=0.380025 / 1.056753
=0.3596

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)
=((0.731 + 126.8) / 152.302) / ((0.684 + 84.617) / 86.674)
=0.837356 / 0.984159
=0.8508

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
=(-26.713 - -13.455 - -42.242) / 152.302
=0.190306

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.

Hotel101 Global Holdings has a M-score of 25.38 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 25.38 mean?
Hotel101 Global Holdings (HBNB) has a Beneish M-Score of 25.38 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hotel101 Global Holdings and its competitors. This is 99% below median its historical median of 2,659.77. Over the past decade, Hotel101 Global Holdings' Beneish M-Score has ranged from 25.38 to 5,294.15. According to the industry distribution chart, Hotel101 Global Holdings ranks #1661 out of 1680 companies in the Real Estate industry, placing it in the top 98.9%.
Is Hotel101 Global Holdings' Beneish M-Score too high?
Hotel101 Global Holdings' current Beneish M-Score of 25.38 is 99% below median its 10-year median of 2,659.77. Over the past 10 years, this metric has ranged from a low of 25.38 to a high of 5,294.15. Based on the distribution chart, Hotel101 Global Holdings ranks #1661 out of 1680 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Hotel101 Global Holdings has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Hotel101 Global Holdings' Beneish M-Score compare to MMI and AGNT?
According to the Real Estate industry distribution chart, Hotel101 Global Holdings ranks #1661 out of 1680 companies for Beneish M-Score. This places Hotel101 Global Holdings in the lower half of its industry. Historically, Hotel101 Global Holdings' own Beneish M-Score has ranged from 25.38 to 5,294.15 over the past decade. 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Hotel101 Global Holdings and its competitors. Hotel101 Global Holdings's current Beneish M-Score is 25.38, which is 99% below median its own 10-year median of 2,659.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hotel101 Global Holdings stock overvalued right now?
Hotel101 Global Holdings (HBNB) has a current Beneish M-Score of 25.38. The current Beneish M-Score is 25.38, which is 99% below median its 10-year median of 2,659.77. Hotel101 Global Holdings' overall GF Score™ is 12/100 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 Hotel101 Global Holdings (HBNB), the current Beneish M-Score is 25.38 as of Jul. 04, 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.

Hotel101 Global Holdings Business Description

Address 20 Cecil Street, No. 04-03, Plus Building, Singapore, SGP, 049705
Hotel101 Global Holdings Corp is an asset-light, prop-tech hospitality platform. The company generates revenue twice: first, in the form of upfront revenue from the sale of its standardized hotel units to real estate unit buyers, and second, in the form of recurring revenues from long-term contracts for the day-to-day management and operation of these hotel units enrolled on the Hotel101 platform. The Company has one reportable segment, which is property development. The property development segment includes the acquisition and development of real estate properties and the sale of these real estate properties and units.
12GF Score

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

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