SkyCity Entertainment Group (NZSE:SKC) Beneish M-Score: -3.44 (As of Jul. 12, 2026)


NZSE:SKC SkyCity Entertainment Group Ltd NZSE:SKC
67 GF Score
Price NZ$0.54
GF Value NZ$1.07
Valuation Possible Value Trap
! 5 Warning Signs
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What is SkyCity Entertainment Group Beneish M-Score?

SkyCity Entertainment Group NZSE:SKC -3.60% 67 Beneish M-Score is -3.44 as of Jul. 12, 2026. GuruFocus rates NZSE:SKC with a GF Score™ of 67/100 and a GF Value™ of NZ$1.07 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 819 Travel & Leisure companies, SkyCity Entertainment Group ranks better than 91.58% 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 -3.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NZSE:SKC' s Beneish M-Score Range Over the Past 10 Years
Min: -3.44   Med: -2.67   Max: 0.82
Current: -3.44

During the past 13 years, the highest Beneish M-Score of SkyCity Entertainment Group was 0.82. The lowest was -3.44. And the median was -2.67.

SkyCity Entertainment Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SkyCity Entertainment 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.

SkyCity Entertainment Group Beneish M-Score Chart

SkyCity Entertainment Group Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.33 -2.87 -2.32 0.82 -3.44

SkyCity Entertainment Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.82 0.00 -3.44 0.00

NZSE:SKC vs LVS, MGM, WYNN: Beneish M-Score Comparison

For the Resorts & Casinos subindustry, SkyCity Entertainment 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.

SkyCity Entertainment Group Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, SkyCity Entertainment Group's Beneish M-Score distribution charts can be found below:

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


NZSE:SKC
67GF Score
SkyCity Entertainment Group Ltd NZSE:SKC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SkyCity Entertainment 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 SkyCity Entertainment Group 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 * 0.1204+0.528 * 1.0036+0.404 * 1.0201+0.892 * 0.9539+0.115 * 1.0147
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1343+4.679 * -0.006336-0.327 * 1.2233
=-3.44

* 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.

This Year (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was NZ$7.8 Mil.
Revenue was NZ$821.3 Mil.
Gross Profit was NZ$758.6 Mil.
Total Current Assets was NZ$83.8 Mil.
Total Assets was NZ$2,759.7 Mil.
Property, Plant and Equipment(Net PPE) was NZ$1,991.3 Mil.
Depreciation, Depletion and Amortization(DDA) was NZ$94.2 Mil.
Selling, General, & Admin. Expense(SGA) was NZ$366.1 Mil.
Total Current Liabilities was NZ$408.5 Mil.
Long-Term Debt & Capital Lease Obligation was NZ$796.6 Mil.
Net Income was NZ$29.2 Mil.
Gross Profit was NZ$1.6 Mil.
Cash Flow from Operations was NZ$45.2 Mil.
 Total Receivables was NZ$68.0 Mil.
Revenue was NZ$861.0 Mil.
Gross Profit was NZ$798.2 Mil.
Total Current Assets was NZ$189.2 Mil.
Total Assets was NZ$2,781.0 Mil.
Property, Plant and Equipment(Net PPE) was NZ$1,915.5 Mil.
Depreciation, Depletion and Amortization(DDA) was NZ$92.0 Mil.
Selling, General, & Admin. Expense(SGA) was NZ$338.4 Mil.
Total Current Liabilities was NZ$506.3 Mil.
Long-Term Debt & Capital Lease Obligation was NZ$486.5 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)
=(7.807 / 821.306) / (67.962 / 861.037)
=0.009506 / 0.07893
=0.1204

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)
=(798.158 / 861.037) / (758.622 / 821.306)
=0.926973 / 0.923678
=1.0036

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 - (83.755 + 1991.315) / 2759.684) / (1 - (189.189 + 1915.54) / 2781.036)
=0.248077 / 0.243185
=1.0201

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
=821.306 / 861.037
=0.9539

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))
=(92.021 / (92.021 + 1915.54)) / (94.213 / (94.213 + 1991.315))
=0.045837 / 0.045175
=1.0147

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)
=(366.081 / 821.306) / (338.353 / 861.037)
=0.44573 / 0.39296
=1.1343

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)
=((796.638 + 408.531) / 2759.684) / ((486.528 + 506.27) / 2781.036)
=0.436705 / 0.356989
=1.2233

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
=(29.234 - 1.557 - 45.162) / 2759.684
=-0.006336

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.

SkyCity Entertainment Group has a M-score of -3.44 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 -3.44 mean?
SkyCity Entertainment Group (NZSE:SKC) has a Beneish M-Score of -3.44 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SkyCity Entertainment Group and its competitors. According to the industry distribution chart, SkyCity Entertainment Group ranks #69 out of 819 companies in the Travel & Leisure industry, placing it in the top 8.4%.
Is SkyCity Entertainment Group's Beneish M-Score too high?
SkyCity Entertainment Group's current Beneish M-Score is -3.44. Based on the distribution chart, SkyCity Entertainment Group ranks #69 out of 819 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, SkyCity Entertainment Group has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does SkyCity Entertainment Group's Beneish M-Score compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, SkyCity Entertainment Group ranks #69 out of 819 companies for Beneish M-Score. This places SkyCity Entertainment Group in the top 8% of its industry — outperforming the majority of peers. 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 SkyCity Entertainment Group and its competitors. SkyCity Entertainment Group's current Beneish M-Score is -3.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SkyCity Entertainment Group stock overvalued right now?
Based on GuruFocus' analysis, SkyCity Entertainment Group (NZSE:SKC) is currently considered Possible Value Trap. The stock's GF Value™ is NZ$1.07, compared to a current price of NZ$0.54 — trading 50% below its estimated fair value. The current Beneish M-Score is -3.44. SkyCity Entertainment Group's overall GF Score™ is 67/100 with 5 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 SkyCity Entertainment Group (NZSE:SKC), the current Beneish M-Score is -3.44 as of Jul. 12, 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 SkyCity Entertainment Group (NZSE:SKC) Overvalued in 2026?

Based on GuruFocus' analysis, SkyCity Entertainment Group stock appears to be undervalued. The current stock price of NZ$0.54 is trading 50% below its estimated GF Value™ of NZ$1.07. GuruFocus considers SkyCity Entertainment Group to be Possible Value Trap.

Key valuation signals for NZSE:SKC:

  • Beneish M-Score: -3.44
  • GF Value™: NZ$1.07 vs. price of NZ$0.54 (50% below fair value)
  • GF Score™: 67/100 with 5 warning signs

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

SkyCity Entertainment Group Business Description

Address 99 Albert Street, Level 13, P.O. Box 6443, Auckland, NTL, NZL, 1010
SkyCity Entertainment operates a number of casino-hotel complexes across Australia and New Zealand. The flagship property is SkyCity Auckland, the holder and operator of an exclusive casino licence (expiring in 2048) in New Zealand's most populous city. The company also owns smaller casinos in Hamilton and Queenstown. In Australia, the company operates SkyCity Adelaide (exclusive licence expiring in 2035).
67GF Score

Get the complete analysis for NZSE:SKC

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

NZ$0.54
Price
NZ$1.07
GF Value