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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 -2.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for BGMC International's Beneish M-Score or its related term are showing as below:
HKSE:01693'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.55 Med: -2.38 Max: -1.48
Current: -2.96
During the past 11 years, the highest Beneish M-Score of BGMC International was -1.48. The lowest was -4.55. And the median was -2.38.
BGMC International Beneish M-Score Historical Data
* Premium members only.
The historical data trend for BGMC International'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:01693 vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, BGMC International'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.
BGMC International Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, BGMC International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BGMC International'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 BGMC International 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 * 0.7872
+
0.528 * -0.4008
+
0.404 * 2.3963
+
0.892 * 1.0034
+
0.115 * 1.4274
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0247
+
4.679 * -0.019302
-
0.327 * 1.2027
=
-2.96
* 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))
=
(2.469 / (2.469 + 0.542))
/
(1.107 / (1.107 + 0.82))
=
0.819993
/
0.574468
=
1.4274
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
=
(-1.931 - 0
-
3.561)
/
284.526
=
-0.019302
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.
BGMC International has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.
BGMC International (HKSE:01693) has a Beneish M-Score of -2.96 as of Aug. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BGMC International and its competitors. According to the industry distribution chart, BGMC International ranks #328 out of 1705 companies in the Construction industry, placing it in the top 19.2%.
Is BGMC International's Beneish M-Score too high?
BGMC International's current Beneish M-Score is -2.96. Based on the distribution chart, BGMC International ranks #328 out of 1705 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, BGMC International has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BGMC International's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, BGMC International ranks #328 out of 1705 companies for Beneish M-Score. This places BGMC International in the top 19% 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 Construction company?
A good Beneish M-Score depends on the Construction 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 BGMC International and its competitors. BGMC International's current Beneish M-Score is -2.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BGMC International stock overvalued right now?
Based on GuruFocus' analysis, BGMC International (HKSE:01693) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$4.58, compared to a current price of HK$6.75 — trading 47.4% above its estimated fair value. The current Beneish M-Score is -2.96. BGMC International's overall GF Score™ is 40/100 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 BGMC International (HKSE:01693), the current Beneish M-Score is -2.96 as of Aug. 11, 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 BGMC International (HKSE:01693) Overvalued in 2026?
Based on GuruFocus' analysis, BGMC International stock appears to be overvalued.
The current stock price of HK$6.75 is trading 47.4% above its estimated GF Value™ of HK$4.58.
GuruFocus considers BGMC International to be Significantly Overvalued.
Key valuation signals for HKSE:01693:
Beneish M-Score: -2.96
GF Value™: HK$4.58 vs. price of HK$6.75 (47.4% above fair value)
No single metric tells the full story. See the HKSE:01693 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BGMC International Ltd is an integrated solutions provider serving in the business sectors of construction service and Concession and Maintenance. Its segments include Building and Structures, which is engaged in construction services in building and structural construction work, the Energy infrastructure segment, which is engaged in the provision of construction services in energy transmission and distribution work, the Mechanical and Electrical segment, which is engaged in the provision of construction services in mechanical and electrical installation work, Earthworks and Infrastructure segment, which is into construction services in earthworks and infrastructure. It generates maximum revenue from the Building and structures segment. Geographically, it derives revenue from Malaysia.
40GF 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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