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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 -2.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for China Coal Energy Co's Beneish M-Score or its related term are showing as below:
HKSE:01898'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.98 Med: -2.69 Max: -1.98
Current: -2.64
During the past 13 years, the highest Beneish M-Score of China Coal Energy Co was -1.98. The lowest was -2.98. And the median was -2.69.
China Coal Energy Co Beneish M-Score Related Terms
China Coal Energy Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for China Coal Energy 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.
China Coal Energy Co Beneish M-Score Competitor Comparison
For the Thermal Coal subindustry, China Coal Energy 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.
China Coal Energy Co Beneish M-Score vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, China Coal Energy Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where China Coal Energy Co'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 China Coal Energy Co 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 * 1.2775
+
0.528 * 0.9928
+
0.404 * 0.9909
+
0.892 * 0.8089
+
0.115 * 1.0111
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2512
+
4.679 * -0.04128
-
0.327 * 0.9962
=
-2.64
* 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))
=
(11150.894 / (11150.894 + 152450.732))
/
(12056.283 / (12056.283 + 166787.4))
=
0.068159
/
0.067412
=
1.0111
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
=
(16015.302 - 0
-
32911.898)
/
409320.259
=
-0.04128
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.
China Coal Energy Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
China Coal Energy Co (HKSE:01898) has a Beneish M-Score of -2.64 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Coal Energy Co and its competitors. According to the industry distribution chart, China Coal Energy Co ranks #63 out of 120 companies in the Other Energy Sources industry, placing it in the top 52.5%.
Is China Coal Energy Co's Beneish M-Score too high?
China Coal Energy Co's current Beneish M-Score is -2.64. Based on the distribution chart, China Coal Energy Co ranks #63 out of 120 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, China Coal Energy Co has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Coal Energy Co's Beneish M-Score compare to competitors?
According to the Other Energy Sources industry distribution chart, China Coal Energy Co ranks #63 out of 120 companies for Beneish M-Score. This places China Coal Energy Co 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 an Other Energy Sources company?
A good Beneish M-Score depends on the Other Energy Sources 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 China Coal Energy Co and its competitors. China Coal Energy Co's current Beneish M-Score is -2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Coal Energy Co stock overvalued right now?
Based on GuruFocus' analysis, China Coal Energy Co (HKSE:01898) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$7.10, compared to a current price of HK$10.96 — trading 54.4% above its estimated fair value. The current Beneish M-Score is -2.64. China Coal Energy Co's overall GF Score™ is 79/100 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 China Coal Energy Co (HKSE:01898), the current Beneish M-Score is -2.64 as of Jul. 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 China Coal Energy Co (HKSE:01898) Overvalued in 2026?
Based on GuruFocus' analysis, China Coal Energy Co stock appears to be overvalued.
The current stock price of HK$10.96 is trading 54.4% above its estimated GF Value™ of HK$7.10.
GuruFocus considers China Coal Energy Co to be Significantly Overvalued.
Key valuation signals for HKSE:01898:
Beneish M-Score: -2.64
GF Value™: HK$7.10 vs. price of HK$10.96 (54.4% above fair value)
No single metric tells the full story. See the HKSE:01898 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Coal Energy Co Ltd is a joint-stock company. The company is a large-scale energy enterprise integrating coal production and trade, coal chemical industry, power generation, and coal mining equipment manufacturing. The Group's core business segments are coal, coal chemical, coal mining equipment, and power generation.
79GF Score
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