Beng Soon Machinery Holdings (HKSE:01987) Beneish M-Score: -2.72 (As of Jul. 07, 2026)

What is Beng Soon Machinery Holdings Beneish M-Score?

Beng Soon Machinery Holdings HKSE:01987 -1.46% 65 Beneish M-Score is -2.72 as of Jul. 07, 2026. GuruFocus rates HKSE:01987 with a GF Score™ of 65/100 and a GF Value™ of HK$0.22 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,700 Construction companies, Beng Soon Machinery Holdings ranks better than 67.29% 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.

Good Sign:

Beneish M-Score -2.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01987' s Beneish M-Score Range Over the Past 10 Years
Min: -4.58 Med: -2.94 Max: -2.07
Current: -2.72

During the past 10 years, the highest Beneish M-Score of Beng Soon Machinery Holdings was -2.07. The lowest was -4.58. And the median was -2.94.

Beng Soon Machinery Holdings Beneish M-Score Related Terms

Beng Soon Machinery Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Beng Soon Machinery 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.

Beng Soon Machinery Holdings Beneish M-Score Chart

Beng Soon Machinery Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-3.70

-3.15

-2.16

-2.35

-2.72

Beng Soon Machinery Holdings Semi-Annual Data
	Dec16	Dec17	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial												-2.16	0.00	-2.35	0.00	-2.72

HKSE:01987 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Beng Soon Machinery 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.

Beng Soon Machinery Holdings Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Beng Soon Machinery Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Beng Soon Machinery Holdings's Beneish M-Score falls into.

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65GF Score

Beng Soon Machinery Holdings Ltd HKSE:01987

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Beng Soon Machinery 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 Beng Soon Machinery Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9483

0.528 * 1.0367

0.404 * 0.954

0.892 * 1.1619

0.115 * 0.9782

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9461

4.679 * -0.070993

0.327 * 1.0505

-2.72

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was HK$110.5 Mil.
Revenue was HK$223.9 Mil.
Gross Profit was HK$68.6 Mil.
Total Current Assets was HK$197.8 Mil.
Total Assets was HK$347.3 Mil.
Property, Plant and Equipment(Net PPE) was HK$137.4 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$26.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$64.0 Mil.
Total Current Liabilities was HK$42.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$55.6 Mil.
Net Income was HK$1.5 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$26.2 Mil.

Total Receivables was HK$100.3 Mil.
Revenue was HK$192.7 Mil.
Gross Profit was HK$61.2 Mil.
Total Current Assets was HK$182.9 Mil.
Total Assets was HK$323.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$129.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$23.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$58.2 Mil.
Total Current Liabilities was HK$31.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$55.4 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)
	=	(110.47 / 223.947)	/	(100.259 / 192.74)
	=	0.493286	/	0.520177
	=	0.9483

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)
	=	(61.202 / 192.74)	/	(68.597 / 223.947)
	=	0.317537	/	0.306309
	=	1.0367

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 - (197.772 + 137.374) / 347.3)	/	(1 - (182.909 + 129.104) / 323.894)
	=	0.034996	/	0.036682
	=	0.954

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
	=	223.947	/	192.74
	=	1.1619

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))
	=	(23.797 / (23.797 + 129.104))	/	(25.994 / (25.994 + 137.374))
	=	0.155637	/	0.159113
	=	0.9782

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)
	=	(63.955 / 223.947)	/	(58.18 / 192.74)
	=	0.285581	/	0.301857
	=	0.9461

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)
	=	((55.581 + 42.108) / 347.3)	/	((55.371 + 31.355) / 323.894)
	=	0.281281	/	0.26776
	=	1.0505

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
	=	(1.519 - 0	-	26.175)	/	347.3
	=	-0.070993

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.

Beng Soon Machinery Holdings has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.72 mean?

Beng Soon Machinery Holdings (HKSE:01987) has a Beneish M-Score of -2.72 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Beng Soon Machinery Holdings and its competitors. According to the industry distribution chart, Beng Soon Machinery Holdings ranks #556 out of 1700 companies in the Construction industry, placing it in the top 32.7%.

Is Beng Soon Machinery Holdings' Beneish M-Score too high?

Beng Soon Machinery Holdings' current Beneish M-Score is -2.72. Based on the distribution chart, Beng Soon Machinery Holdings ranks #556 out of 1700 companies in the Construction industry, which is above the industry midpoint. Overall, Beng Soon Machinery Holdings has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Beng Soon Machinery Holdings' Beneish M-Score compare to PWR and FIX?

According to the Construction industry distribution chart, Beng Soon Machinery Holdings ranks #556 out of 1700 companies for Beneish M-Score. This puts Beng Soon Machinery Holdings in the upper 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 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 Beng Soon Machinery Holdings and its competitors. Beng Soon Machinery Holdings's current Beneish M-Score is -2.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Beng Soon Machinery Holdings stock overvalued right now?

Based on GuruFocus' analysis, Beng Soon Machinery Holdings (HKSE:01987) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.22, compared to a current price of HK$0.20 — trading 7.7% below its estimated fair value. The current Beneish M-Score is -2.72. Beng Soon Machinery Holdings' overall GF Score™ is 65/100 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 Beng Soon Machinery Holdings (HKSE:01987), the current Beneish M-Score is -2.72 as of Jul. 07, 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 Beng Soon Machinery Holdings (HKSE:01987) Overvalued in 2026?

Based on GuruFocus' analysis, Beng Soon Machinery Holdings stock appears to be undervalued. The current stock price of HK$0.20 is trading 7.7% below its estimated GF Value™ of HK$0.22. GuruFocus considers Beng Soon Machinery Holdings to be Fairly Valued.

Key valuation signals for HKSE:01987:

Beneish M-Score: -2.72
GF Value™: HK$0.22 vs. price of HK$0.20 (7.7% below fair value)
GF Score™: 65/100 with 2 warning signs

No single metric tells the full story. See the HKSE:01987 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Beng Soon Machinery Holdings Business Description

Industry Industrials Construction

Comparable Companies HKSE:01500 HKSE:01447 HKSE:01552 HKSE:01826 HKSE:08460 HKSE:01301 HKSE:08040 HKSE:08601 HKSE:01582 HKSE:01615 PWR XPAR:DG FIX NSE:LT XKRX:028260 XAMS:FER XTER:HOT XMAD:ACS EME MTZ

Address 21 Tuas South Street 7, Singapore, SGP, 637111

Website https://www.bsm.com.sg

Beng Soon Machinery Holdings Ltd is an investment holding company engaged in the provision of demolition services. The Group is a demolition services provider in Singapore, which also (i) sells salvage materials removed from the demolition sites to third-party salvage buyers; (ii) deposits earth from earth providers at its demolition sites for landfilling purposes; and (iii) leases and sells machinery to third parties. The company derives a majority of its revenue from Singapore.

65GF Score

Get the complete analysis for HKSE:01987

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

HK$0.20

Price

HK$0.22

GF Value

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