HRC World (OCSE:HRC) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is HRC World Beneish M-Score?

HRC World OCSE:HRC 8 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates OCSE:HRC with a GF Score™ of 8/100 and a GF Value™ of kr29.98. 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.

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

During the past 9 years, the highest Beneish M-Score of HRC World was 0.00. The lowest was 0.00. And the median was 0.00.

HRC World Beneish M-Score Related Terms

HRC World Beneish M-Score Historical Data

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The historical data trend for HRC World'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.

HRC World Beneish M-Score Chart

HRC World Annual Data

Trend

Dec15

Dec16

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Beneish M-Score

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0.00

HRC World Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25
Beneish M-Score	Get a 7-Day Free Trial														0.00	0.00	0.00	0.00	0.00

OCSE:HRC vs MCD, SBUX, CMG: Beneish M-Score Comparison

For the Restaurants subindustry, HRC World'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.

HRC World Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, HRC World's Beneish M-Score distribution charts can be found below:

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

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HRC World PLC OCSE:HRC

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

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HRC World 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 HRC World 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was kr3.35 Mil.
Revenue was kr5.64 Mil.
Gross Profit was kr1.44 Mil.
Total Current Assets was kr21.53 Mil.
Total Assets was kr22.70 Mil.
Property, Plant and Equipment(Net PPE) was kr1.17 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.19 Mil.
Selling, General, & Admin. Expense(SGA) was kr2.38 Mil.
Total Current Liabilities was kr12.65 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.26 Mil.
Net Income was kr-0.32 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr-4.77 Mil.

Total Receivables was kr1.73 Mil.
Revenue was kr0.97 Mil.
Gross Profit was kr0.97 Mil.
Total Current Assets was kr10.77 Mil.
Total Assets was kr11.88 Mil.
Property, Plant and Equipment(Net PPE) was kr1.11 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.20 Mil.
Selling, General, & Admin. Expense(SGA) was kr1.95 Mil.
Total Current Liabilities was kr1.75 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.09 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)
	=	(3.346 / 5.644)	/	(1.729 / 0.967)
	=	0.592842	/	1.788004
	=

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)
	=	(0.967 / 0.967)	/	(1.442 / 5.644)
	=	1	/	0.255493
	=

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 - (21.526 + 1.173) / 22.699)	/	(1 - (10.77 + 1.111) / 11.881)
	=	0	/	0
	=

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
	=	5.644	/	0.967
	=

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))
	=	(0.199 / (0.199 + 1.111))	/	(0.193 / (0.193 + 1.173))
	=	0.151908	/	0.141288
	=

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)
	=	(2.38 / 5.644)	/	(1.948 / 0.967)
	=	0.421687	/	2.014478
	=

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)
	=	((0.262 + 12.653) / 22.699)	/	((0.089 + 1.749) / 11.881)
	=	0.568968	/	0.154701
	=

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
	=	(-0.317 - 0	-	-4.774)	/	22.699
	=	0.196352

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.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

HRC World (OCSE:HRC) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on HRC World and its competitors.

Is HRC World's Beneish M-Score too high?

HRC World's current Beneish M-Score is 0.00. Overall, HRC World has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.

How does HRC World's Beneish M-Score compare to MCD and SBUX?

HRC World's Beneish M-Score of 0.00 can be compared against companies in the Restaurants 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 Restaurants company?

A good Beneish M-Score depends on the Restaurants 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 HRC World and its competitors. HRC World's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is HRC World stock overvalued right now?

HRC World (OCSE:HRC) has a current Beneish M-Score of 0.00. The stock's GF Value™ is kr29.98, compared to a current price of kr0.79 — trading 97.4% below its estimated fair value. The current Beneish M-Score is 0.00. HRC World's overall GF Score™ is 8/100 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 HRC World (OCSE:HRC), the current Beneish M-Score is 0.00 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 HRC World (OCSE:HRC) Overvalued in 2026?

Based on GuruFocus' analysis, HRC World stock appears to be undervalued. The current stock price of kr0.79 is trading 97.4% below its estimated GF Value™ of kr29.98.

Key valuation signals for OCSE:HRC:

Beneish M-Score: 0.00
GF Value™: kr29.98 vs. price of kr0.79 (97.4% below fair value)
GF Score™: 8/100 with 3 warning signs

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

HRC World Business Description

Industry Consumer Cyclical Restaurants

Comparable Companies MCD SBUX LSE:CPG CMG YUM TSX:QSP.UN TSX:QSR DRI YUMC DPZ TXRH LKNCY TSE:7550 HKSE:06862 CAVA WING BROS HKSE:01364 EAT TSE:3563

Address 27/28 Eastcastle Street, Eastcastle House, London, GBR, W1W 8DH

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

HRC World PLC acts as a holding company with a subsidiary company providing restaurant management services to companies engaged in the quality food and beverage business. The company's only segment is development and offering restaurant management services within the hospitality sector. The company focuses on managing restaurant marketing and promotion support services; tourist-based customer acquisition services; and music & event-based revenue development.

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

kr0.79

Price

kr29.98

GF Value

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