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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 -3.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Melbourne Enterprises's Beneish M-Score or its related term are showing as below:
HKSE:00158'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.36 Med: -2.45 Max: -1.49
Current: -3.36
During the past 13 years, the highest Beneish M-Score of Melbourne Enterprises was -1.49. The lowest was -3.36. And the median was -2.45.
Melbourne Enterprises Beneish M-Score Related Terms
Melbourne Enterprises Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Melbourne Enterprises'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.
HKSE:00158 vs CBRE, BEKE, JLL: Beneish M-Score Comparison
For the Real Estate Services subindustry, Melbourne Enterprises'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.
Melbourne Enterprises Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Melbourne Enterprises's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Melbourne Enterprises'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 Melbourne Enterprises 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 * 0.6687
+
0.528 * 1.0351
+
0.404 * 0.9936
+
0.892 * 1.016
+
0.115 * 0.7751
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9371
+
4.679 * -0.115217
-
0.327 * 1.1661
=
-3.36
* 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))
=
(0.056 / (0.056 + 0.162))
/
(0.058 / (0.058 + 0.117))
=
0.256881
/
0.331429
=
0.7751
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
=
(-640.461 - 0
-
103.361)
/
6455.816
=
-0.115217
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.
Melbourne Enterprises has a M-score of -3.36 suggests that the company is unlikely to be a manipulator.
Melbourne Enterprises (HKSE:00158) has a Beneish M-Score of -3.36 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Melbourne Enterprises and its competitors. According to the industry distribution chart, Melbourne Enterprises ranks #143 out of 1678 companies in the Real Estate industry, placing it in the top 8.5%.
Is Melbourne Enterprises' Beneish M-Score too high?
Melbourne Enterprises' current Beneish M-Score is -3.36. Based on the distribution chart, Melbourne Enterprises ranks #143 out of 1678 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Melbourne Enterprises has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Melbourne Enterprises' Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Melbourne Enterprises ranks #143 out of 1678 companies for Beneish M-Score. This places Melbourne Enterprises in the top 9% 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 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 Melbourne Enterprises and its competitors. Melbourne Enterprises's current Beneish M-Score is -3.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Melbourne Enterprises stock overvalued right now?
Based on GuruFocus' analysis, Melbourne Enterprises (HKSE:00158) is currently considered Fairly Valued. The stock's GF Value™ is HK$63.95, compared to a current price of HK$58.00 — trading 9.3% below its estimated fair value. The current Beneish M-Score is -3.36. Melbourne Enterprises' overall GF Score™ is 60/100 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 Melbourne Enterprises (HKSE:00158), the current Beneish M-Score is -3.36 as of Aug. 27, 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 Melbourne Enterprises (HKSE:00158) Overvalued in 2026?
Based on GuruFocus' analysis, Melbourne Enterprises stock appears to be undervalued.
The current stock price of HK$58.00 is trading 9.3% below its estimated GF Value™ of HK$63.95.
GuruFocus considers Melbourne Enterprises to be Fairly Valued.
Key valuation signals for HKSE:00158:
Beneish M-Score: -3.36
GF Value™: HK$63.95 vs. price of HK$58.00 (9.3% below fair value)
No single metric tells the full story. See the HKSE:00158 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Melbourne Enterprises Ltd is an investment holding company. The company and its subsidiary company are principally engaged in property investment and investment holding in Hong Kong. The company's only operating segment is property investment. It generates the majority of revenue from the Rental income. The properties under the company include Melbourne Plaza, Kimley Commercial Building, as well as Retail properties in the On Hing Mansion Shop 9B.
60GF Score
Get the complete analysis for HKSE:00158
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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