Nano LabsNA -1.12%41 Beneish M-Score is -1.61 as of Jun. 25, 2026. GuruFocus rates NA with a GF Score™ of 41/100 and a GF Value™ of $0.89 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 987 Semiconductors companies, Nano Labs ranks worse than 82.67% 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.
Warning Sign:
Beneish M-Score -1.61 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Nano Labs's Beneish M-Score or its related term are showing as below:
NA'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.42 Med: -1.61 Max: 9.25
Current: -1.61
During the past 6 years, the highest Beneish M-Score of Nano Labs was 9.25. The lowest was -5.42. And the median was -1.61.
Nano Labs Beneish M-Score Related Terms
Nano Labs Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Nano Labs'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.
NA vs SQNS, PXLW, PRKR: Beneish M-Score Comparison
For the Semiconductors subindustry, Nano Labs'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.
Nano Labs Beneish M-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Nano Labs's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nano Labs'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 Nano Labs 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 * 1.7444
+
0.528 * -0.194
+
0.404 * 3.6553
+
0.892 * 0.6876
+
0.115 * 0.8837
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.4872
+
4.679 * -0.006159
-
0.327 * 0.5438
=
-1.61
* 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))
=
(1.598 / (1.598 + 27.819))
/
(1.727 / (1.727 + 26.369))
=
0.054322
/
0.061468
=
0.8837
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
=
(19.234 - 35.585
-
-15.372)
/
158.948
=
-0.006159
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.
Nano Labs has a M-score of -1.61 signals that the company is likely to be a manipulator.
Nano Labs (NA) has a Beneish M-Score of -1.61 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nano Labs and its competitors. According to the industry distribution chart, Nano Labs ranks #816 out of 987 companies in the Semiconductors industry, placing it in the top 82.7%.
Is Nano Labs' Beneish M-Score too high?
Nano Labs' current Beneish M-Score is -1.61. Based on the distribution chart, Nano Labs ranks #816 out of 987 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Nano Labs has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nano Labs' Beneish M-Score compare to SQNS and PXLW?
According to the Semiconductors industry distribution chart, Nano Labs ranks #816 out of 987 companies for Beneish M-Score. This places Nano Labs 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 a Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 Nano Labs and its competitors. Nano Labs's current Beneish M-Score is -1.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nano Labs stock overvalued right now?
Based on GuruFocus' analysis, Nano Labs (NA) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.89, compared to a current price of $1.77 — trading 98.9% above its estimated fair value. The current Beneish M-Score is -1.61. Nano Labs' overall GF Score™ is 41/100 with 10 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 Nano Labs (NA), the current Beneish M-Score is -1.61 as of Jun. 25, 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 Nano Labs (NA) Overvalued in 2026?
Based on GuruFocus' analysis, Nano Labs stock appears to be overvalued.
The current stock price of $1.77 is trading 98.9% above its estimated GF Value™ of $0.89.
GuruFocus considers Nano Labs to be Significantly Overvalued.
Key valuation signals for NA:
Beneish M-Score: -1.61
GF Value™: $0.89 vs. price of $1.77 (98.9% above fair value)
No single metric tells the full story. See the NA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nano Labs Ltd is a Web 3.0 infrastructure and product solution provider, as well as a crypto treasury company. It is focused on the development of HTC chips and HPC chips. In addition, the company has established BNB value investment and adopted BNB (a crypto token) as the primary reserve asset. Furthermore, it has launched the iPollo Claw, a dedicated hardware solution for the OpenClaw AI Agent Ecosystem. Nano Labs derives revenue mainly from its HTC and HPC offerings, which comprise Darkbird series HPC chips that feature high performance and high energy consumption efficiency, and Cuckoo series chips, used in GPUs. Geographically, the company generates maximum revenue from the People's Republic of China (PRC), and the rest from Singapore, Hong Kong, the United States, and other markets.
41GF Score
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