Bisichi (LSE:BISI) Beneish M-Score: -1.73 (As of Jun. 27, 2026)

What is Bisichi Beneish M-Score?

Bisichi LSE:BISI 46 Beneish M-Score is -1.73 as of Jun. 27, 2026. GuruFocus rates LSE:BISI with a GF Score™ of 46/100 and a GF Value™ of £1.05. The stock has 3 warning signs investors should review.

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.

Warning Sign:

Beneish M-Score -1.73 higher than -1.78, which implies that the company might have manipulated its financial results.

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

LSE:BISI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.31 Med: -2.63 Max: -1.67
Current: -1.73

During the past 13 years, the highest Beneish M-Score of Bisichi was -1.67. The lowest was -3.31. And the median was -2.63.

Bisichi Beneish M-Score Related Terms

Bisichi Beneish M-Score Historical Data

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The historical data trend for Bisichi'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.

Bisichi Beneish M-Score Chart

Bisichi Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.03

-2.66

-3.31

-1.71

-1.73

Bisichi Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-1.71	0.00	-1.73	0.00

LSE:BISI vs CNR: Beneish M-Score Comparison

For the Thermal Coal subindustry, Bisichi'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.

Bisichi Beneish M-Score vs Other Energy Sources Industry

For the Other Energy Sources industry and Energy sector, Bisichi's Beneish M-Score distribution charts can be found below:

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

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46GF Score

Bisichi PLC LSE:BISI

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

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Bisichi 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 Bisichi 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 * 0.9253

0.528 * 3.5562

0.404 * 0.9523

0.892 * 1.0616

0.115 * 0.4855

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.113536

0.327 * 0.913

-1.73

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was £7.79 Mil.
Revenue was £52.29 Mil.
Gross Profit was £14.26 Mil.
Total Current Assets was £12.97 Mil.
Total Assets was £61.68 Mil.
Property, Plant and Equipment(Net PPE) was £22.77 Mil.
Depreciation, Depletion and Amortization(DDA) was £4.04 Mil.
Selling, General, & Admin. Expense(SGA) was £7.45 Mil.
Total Current Liabilities was £18.96 Mil.
Long-Term Debt & Capital Lease Obligation was £4.19 Mil.
Net Income was £1.12 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £8.12 Mil.

Total Receivables was £7.93 Mil.
Revenue was £49.25 Mil.
Gross Profit was £47.76 Mil.
Total Current Assets was £14.49 Mil.
Total Assets was £59.78 Mil.
Property, Plant and Equipment(Net PPE) was £18.90 Mil.
Depreciation, Depletion and Amortization(DDA) was £1.49 Mil.
Selling, General, & Admin. Expense(SGA) was £0.00 Mil.
Total Current Liabilities was £24.24 Mil.
Long-Term Debt & Capital Lease Obligation was £0.33 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)
	=	(7.794 / 52.289)	/	(7.934 / 49.253)
	=	0.149056	/	0.161087
	=	0.9253

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)
	=	(47.76 / 49.253)	/	(14.258 / 52.289)
	=	0.969687	/	0.272677
	=	3.5562

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 - (12.974 + 22.771) / 61.681)	/	(1 - (14.489 + 18.896) / 59.781)
	=	0.420486	/	0.441545
	=	0.9523

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
	=	52.289	/	49.253
	=	1.0616

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))
	=	(1.493 / (1.493 + 18.896))	/	(4.044 / (4.044 + 22.771))
	=	0.073226	/	0.150811
	=	0.4855

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)
	=	(7.452 / 52.289)	/	(0 / 49.253)
	=	0.142516	/	0
	=	1

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)
	=	((4.186 + 18.962) / 61.681)	/	((0.332 + 24.241) / 59.781)
	=	0.375286	/	0.41105
	=	0.913

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
	=	(1.117 - 0	-	8.12)	/	61.681
	=	-0.113536

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.

Bisichi has a M-score of -1.73 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -1.73 mean?

Bisichi (LSE:BISI) has a Beneish M-Score of -1.73 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bisichi and its competitors.

Is Bisichi's Beneish M-Score too high?

Bisichi's current Beneish M-Score is -1.73. Overall, Bisichi has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.

How does Bisichi's Beneish M-Score compare to CNR?

Bisichi's Beneish M-Score of -1.73 can be compared against companies in the Other Energy Sources 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 Bisichi and its competitors. Bisichi's current Beneish M-Score is -1.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Bisichi stock overvalued right now?

Bisichi (LSE:BISI) has a current Beneish M-Score of -1.73. The stock's GF Value™ is £1.05, compared to a current price of £0.44 — trading 58.1% below its estimated fair value. The current Beneish M-Score is -1.73. Bisichi's overall GF Score™ is 46/100 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 Bisichi (LSE:BISI), the current Beneish M-Score is -1.73 as of Jun. 27, 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 Bisichi (LSE:BISI) Overvalued in 2026?

Based on GuruFocus' analysis, Bisichi stock appears to be undervalued. The current stock price of £0.44 is trading 58.1% below its estimated GF Value™ of £1.05.

Key valuation signals for LSE:BISI:

Beneish M-Score: -1.73
GF Value™: £1.05 vs. price of £0.44 (58.1% below fair value)
GF Score™: 46/100 with 3 warning signs

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

Bisichi Business Description

Industry Energy Other Energy Sources

Comparable Companies LSE:CGO LSE:ORCP LSE:GCM SHSE:601088 ISX:DSSA ISX:BYAN BOM:512599 SHSE:601225 NSE:COALINDIA HKSE:01898 SHSE:600188 ISX:CUAN SZSE:002128 ISX:BUMI SHSE:900948 SZSE:001286 SZSE:000983 SHSE:601699 SHSE:600157 CNR

Address 12 Little Portland Street, 2nd Floor, London, GBR, W1W 8BJ

Website https://www.bisichi.co.uk

Bisichi PLC is a coal mining company that actively seeks new opportunities to extend the life of the mine of its existing mining operations or develop new independent mining operations in South Africa. The operating business segments are Mining and Property. It is also engaged in coal washing and acquiring and securing additional coal reserves. The company also invests in retail properties as well as residential property development in the United Kingdom which are managed by London and Associated Properties. The maximum revenue is derived from the mining of coal.

46GF Score

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

£0.44

Price

£1.05

GF Value

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