OFAL (OFA Group) Beneish M-Score: -9.77 (As of Jul. 10, 2026)


OFAL OFA Group OFAL
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What is OFA Group Beneish M-Score?

OFA Group OFAL +0.94% 10 Beneish M-Score is -9.77 as of Jul. 10, 2026. GuruFocus rates OFAL with a GF Score™ of 10/100. The stock has 1 warning sign investors should review. Among 1,700 Construction companies, OFA Group ranks better than 99.59% 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 -9.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OFAL' s Beneish M-Score Range Over the Past 10 Years
Min: -9.77   Med: -9.77   Max: -9.77
Current: -9.77

During the past 3 years, the highest Beneish M-Score of OFA Group was -9.77. The lowest was -9.77. And the median was -9.77.

OFA Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for OFA 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.

OFA Group Beneish M-Score Chart

OFA Group Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -9.77

OFA Group Semi-Annual Data
Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 -9.77 0.00

OFAL vs MGN, MSGY, FBGL: Beneish M-Score Comparison

For the Engineering & Construction subindustry, OFA 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.

OFA Group Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, OFA Group's Beneish M-Score distribution charts can be found below:

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


OFAL
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Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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OFA 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 OFA 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 * 0.9347+0.528 * 0.748+0.404 * 2.1987+0.892 * 0.3804+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 7.7858+4.679 * -1.247283-0.327 * 1.0733
=-9.77

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was $0.02 Mil.
Revenue was $0.20 Mil.
Gross Profit was $0.09 Mil.
Total Current Assets was $0.31 Mil.
Total Assets was $0.37 Mil.
Property, Plant and Equipment(Net PPE) was $0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.78 Mil.
Total Current Liabilities was $0.22 Mil.
Long-Term Debt & Capital Lease Obligation was $0.47 Mil.
Net Income was $-0.72 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-0.26 Mil.
 Total Receivables was $0.05 Mil.
Revenue was $0.53 Mil.
Gross Profit was $0.18 Mil.
Total Current Assets was $0.31 Mil.
Total Assets was $0.35 Mil.
Property, Plant and Equipment(Net PPE) was $0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.26 Mil.
Total Current Liabilities was $0.16 Mil.
Long-Term Debt & Capital Lease Obligation was $0.46 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)
=(0.016 / 0.202) / (0.045 / 0.531)
=0.079208 / 0.084746
=0.9347

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)
=(0.175 / 0.531) / (0.089 / 0.202)
=0.329567 / 0.440594
=0.748

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 - (0.314 + 0.038) / 0.368) / (1 - (0.314 + 0.033) / 0.354)
=0.043478 / 0.019774
=2.1987

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
=0.202 / 0.531
=0.3804

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 / (0 + 0.033)) / (0 / (0 + 0.038))
=0 / 0
=1

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)
=(0.776 / 0.202) / (0.262 / 0.531)
=3.841584 / 0.493409
=7.7858

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)
=((0.473 + 0.221) / 0.368) / ((0.464 + 0.158) / 0.354)
=1.88587 / 1.757062
=1.0733

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
=(-0.715 - 0 - -0.256) / 0.368
=-1.247283

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.

OFA Group has a M-score of -9.77 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 -9.77 mean?
OFA Group (OFAL) has a Beneish M-Score of -9.77 as of Jul. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on OFA Group and its competitors. According to the industry distribution chart, OFA Group ranks #7 out of 1700 companies in the Construction industry, placing it in the top 0.40000000000001%.
Is OFA Group's Beneish M-Score too high?
OFA Group's current Beneish M-Score is -9.77. Based on the distribution chart, OFA Group ranks #7 out of 1700 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, OFA Group has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does OFA Group's Beneish M-Score compare to MGN and MSGY?
According to the Construction industry distribution chart, OFA Group ranks #7 out of 1700 companies for Beneish M-Score. This places OFA Group in the top 0% 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 Construction company?
A good Beneish M-Score depends on the Construction 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 OFA Group and its competitors. OFA Group's current Beneish M-Score is -9.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is OFA Group stock overvalued right now?
OFA Group (OFAL) has a current Beneish M-Score of -9.77. The current Beneish M-Score is -9.77. OFA Group's overall GF Score™ is 10/100 with 1 warning sign 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 OFA Group (OFAL), the current Beneish M-Score is -9.77 as of Jul. 10, 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.

OFA Group Business Description

Address 609 Deep Valley Drive, Suite 200, Rolling Hills, CA, USA, 90274
OFA Group, through its subsidiary, provides architectural services, including design and fit-out services for commercial and residential buildings in Hong Kong. The design service includes both the consultation with staff and the actual design work and the company provides a specific conceptualized design with layout plans, detailed design drawings, advice relating to, among other things, budgetary consideration, optimal use of space, the materials, fittings, furniture, appliances and other items to be used to produce a preliminary design plan and quotation. Its works include installing protective materials to cover floors or walls, installing or constructing partition walls, windows, window frames, and decorative fittings, furniture or fixtures, installing plumbing systems, etc.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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