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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 -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Mongolian Mining's Beneish M-Score or its related term are showing as below:
HKSE:00975'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.88 Med: -2.15 Max: 128.39
Current: -2.3
During the past 13 years, the highest Beneish M-Score of Mongolian Mining was 128.39. The lowest was -2.88. And the median was -2.15.
Mongolian Mining Beneish M-Score Related Terms
Mongolian Mining Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Mongolian Mining'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:00975 vs HCC, AMR, METC: Beneish M-Score Comparison
For the Coking Coal subindustry, Mongolian Mining'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.
Mongolian Mining Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Mongolian Mining's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mongolian Mining'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 Mongolian Mining 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 * 1.172
+
0.528 * 2.2631
+
0.404 * 1.3656
+
0.892 * 0.7926
+
0.115 * 1.0828
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.5438
+
4.679 * -0.097212
-
0.327 * 1.2181
=
-2.30
* 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))
=
(970.105 / (970.105 + 13395.465))
/
(949.016 / (949.016 + 14267.56))
=
0.06753
/
0.062367
=
1.0828
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
=
(47.463 - 0
-
1822.715)
/
18261.74
=
-0.097212
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.
Mongolian Mining has a M-score of -2.30 suggests that the company is unlikely to be a manipulator.
Mongolian Mining (HKSE:00975) has a Beneish M-Score of -2.30 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mongolian Mining and its competitors. According to the industry distribution chart, Mongolian Mining ranks #369 out of 587 companies in the Steel industry, placing it in the top 62.9%.
Is Mongolian Mining's Beneish M-Score too high?
Mongolian Mining's current Beneish M-Score is -2.30. Based on the distribution chart, Mongolian Mining ranks #369 out of 587 companies in the Steel industry, which is below the industry midpoint. Overall, Mongolian Mining has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mongolian Mining's Beneish M-Score compare to HCC and AMR?
According to the Steel industry distribution chart, Mongolian Mining ranks #369 out of 587 companies for Beneish M-Score. This places Mongolian Mining in the lower 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Mongolian Mining and its competitors. Mongolian Mining's current Beneish M-Score is -2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mongolian Mining stock overvalued right now?
Based on GuruFocus' analysis, Mongolian Mining (HKSE:00975) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$6.32, compared to a current price of HK$7.32 — trading 15.8% above its estimated fair value. The current Beneish M-Score is -2.30. Mongolian Mining's overall GF Score™ is 79/100 with 4 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 Mongolian Mining (HKSE:00975), the current Beneish M-Score is -2.30 as of Jul. 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 Mongolian Mining (HKSE:00975) Overvalued in 2026?
Based on GuruFocus' analysis, Mongolian Mining stock appears to be overvalued.
The current stock price of HK$7.32 is trading 15.8% above its estimated GF Value™ of HK$6.32.
GuruFocus considers Mongolian Mining to be Modestly Overvalued.
Key valuation signals for HKSE:00975:
Beneish M-Score: -2.30
GF Value™: HK$6.32 vs. price of HK$7.32 (15.8% above fair value)
No single metric tells the full story. See the HKSE:00975 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mongolian Mining Corp together with its subsidiaries, is principally engaged in the mining, processing, transportation, and sale of coal and gold products. The company owns and operates the Ukhaa Khudag and Baruun Naran open-pit coking coal mines in Umnugobi aimag, Mongolia. The company generates revenue from the sale of washed hard-coking coal, washed semi-soft coking coal, Middlings, washed mid-ash semi-hard coking coal, Raw thermal coal, and gold & silver products. The majority of the revenue is generated from the sale of washed hard-coking coal. China accounts for the majority of the sales of its products.
79GF Score
Get the complete analysis for HKSE:00975
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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