Huge Group (JSE:HUG) Beneish M-Score: -1.83 (As of Jun. 26, 2026)

What is Huge Group Beneish M-Score?

Huge Group JSE:HUG 56 Beneish M-Score is -1.83 as of Jun. 26, 2026. GuruFocus rates JSE:HUG with a GF Score™ of 56/100 and a GF Value™ of R1.15 (Fairly Valued). The stock has 3 warning signs investors should review. Among 954 Asset Management companies, Huge Group ranks worse than 64.36% 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 -1.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Huge Group's Beneish M-Score or its related term are showing as below:

JSE:HUG' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77 Med: -1.72 Max: 30.33
Current: -1.83

During the past 13 years, the highest Beneish M-Score of Huge Group was 30.33. The lowest was -2.77. And the median was -1.72.

Huge Group Beneish M-Score Related Terms

Huge Group Beneish M-Score Historical Data

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The historical data trend for Huge Group'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.

Huge Group Beneish M-Score Chart

Huge Group Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

Beneish M-Score

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30.33

0.44

-1.58

-1.61

-1.83

Huge Group Semi-Annual Data
	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24	Aug24	Feb25	Aug25	Feb26
Beneish M-Score	Get a 7-Day Free Trial															-1.58	0.00	-1.61	0.00	-1.83

JSE:HUG vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, Huge Group'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.

Huge Group Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Huge Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Huge Group's Beneish M-Score falls into.

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56GF Score

Huge Group Ltd JSE:HUG

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

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Huge Group 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 Huge Group 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 * 2.8634

0.528 * 0.2296

0.404 * 0.9932

0.892 * 0.6051

0.115 * 0.9456

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 3.527

4.679 * 0.028595

0.327 * 0.986

-1.83

This Year (Feb26) TTM:

Last Year (Feb25) TTM:

Total Receivables was R24.40 Mil.
Revenue was R28.65 Mil.
Gross Profit was R24.46 Mil.
Total Current Assets was R30.30 Mil.
Total Assets was R1,973.43 Mil.
Property, Plant and Equipment(Net PPE) was R0.14 Mil.
Depreciation, Depletion and Amortization(DDA) was R0.11 Mil.
Selling, General, & Admin. Expense(SGA) was R14.76 Mil.
Total Current Liabilities was R51.83 Mil.
Long-Term Debt & Capital Lease Obligation was R282.25 Mil.
Net Income was R28.47 Mil.
Gross Profit was R0.00 Mil.
Cash Flow from Operations was R-27.96 Mil.

Total Receivables was R14.08 Mil.
Revenue was R47.35 Mil.
Gross Profit was R9.28 Mil.
Total Current Assets was R16.73 Mil.
Total Assets was R1,934.77 Mil.
Property, Plant and Equipment(Net PPE) was R0.14 Mil.
Depreciation, Depletion and Amortization(DDA) was R0.11 Mil.
Selling, General, & Admin. Expense(SGA) was R6.92 Mil.
Total Current Liabilities was R6.48 Mil.
Long-Term Debt & Capital Lease Obligation was R325.72 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)
	=	(24.396 / 28.651)	/	(14.08 / 47.349)
	=	0.851489	/	0.297366
	=	2.8634

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)
	=	(9.28 / 47.349)	/	(24.456 / 28.651)
	=	0.195991	/	0.853583
	=	0.2296

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 - (30.295 + 0.139) / 1973.429)	/	(1 - (16.728 + 0.144) / 1934.77)
	=	0.984578	/	0.99128
	=	0.9932

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
	=	28.651	/	47.349
	=	0.6051

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))
	=	(0.106 / (0.106 + 0.144))	/	(0.113 / (0.113 + 0.139))
	=	0.424	/	0.448413
	=	0.9456

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)
	=	(14.762 / 28.651)	/	(6.917 / 47.349)
	=	0.515235	/	0.146085
	=	3.527

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)
	=	((282.251 + 51.833) / 1973.429)	/	((325.722 + 6.475) / 1934.77)
	=	0.169291	/	0.171698
	=	0.986

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
	=	(28.473 - 0	-	-27.958)	/	1973.429
	=	0.028595

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.

Huge Group has a M-score of -1.83 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 -1.83 mean?

Huge Group (JSE:HUG) has a Beneish M-Score of -1.83 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Huge Group and its competitors. According to the industry distribution chart, Huge Group ranks #614 out of 954 companies in the Asset Management industry, placing it in the top 64.4%.

Is Huge Group's Beneish M-Score too high?

Huge Group's current Beneish M-Score is -1.83. Based on the distribution chart, Huge Group ranks #614 out of 954 companies in the Asset Management industry, which is below the industry midpoint. Overall, Huge Group has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Huge Group's Beneish M-Score compare to BLK and BX?

According to the Asset Management industry distribution chart, Huge Group ranks #614 out of 954 companies for Beneish M-Score. This places Huge Group 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 Asset Management company?

A good Beneish M-Score depends on the Asset Management 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 Huge Group and its competitors. Huge Group's current Beneish M-Score is -1.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Huge Group stock overvalued right now?

Based on GuruFocus' analysis, Huge Group (JSE:HUG) is currently considered Fairly Valued. The stock's GF Value™ is R1.15, compared to a current price of R1.15 — trading right at its estimated fair value. The current Beneish M-Score is -1.83. Huge Group's overall GF Score™ is 56/100 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 Huge Group (JSE:HUG), the current Beneish M-Score is -1.83 as of Jun. 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 Huge Group (JSE:HUG) Overvalued in 2026?

Based on GuruFocus' analysis, Huge Group stock appears to be undervalued. The current stock price of R1.15 is trading 0% below its estimated GF Value™ of R1.15. GuruFocus considers Huge Group to be Fairly Valued.

Key valuation signals for JSE:HUG:

Beneish M-Score: -1.83
GF Value™: R1.15 vs. price of R1.15 (0% below fair value)
GF Score™: 56/100 with 3 warning signs

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

Huge Group Business Description

Industry Financial Services Asset Management

Comparable Companies JSE:BAC JSE:GRSP JSE:MHB JSE:RHB JSE:EPE BLK BX OSTO:INVE A TSX:BN KKR TSX:BAM APO STT OSTO:EQT AMP LSE:III NTRS ARES RJF XSWX:PGHN

Address 1 Melrose Boulevard, Unit 23, Melrose Arch, Johannesburg, GT, ZAF, 2076

Website https://www.hugegroup.com

Huge Group Ltd is an investment holding company. The Company offers a comprehensive suite of data, voice, network services, and ICT hardware solutions for corporate businesses, SMEs, and SOHO through business partners, resellers, and a direct sales team. It also provides cloud, connectivity, and related technology services for the Corporate, SMME, and Work-from-Home segments. Huge TNS offers a catalogue of products and services including Connectivity, Voice, SD-WAN Management, Connectivity Aggregation, Cyber Security, PBX, Cloud, and Hosting services, generating both annuity and usage-based revenue. The company segments are: Cloud and Connectivity, Software and xTech, and Distribution, with Cloud and Connectivity generating the maximum revenue.

56GF Score

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

R1.15

Price

R1.15

GF Value

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