SCAG (Scage Future) Beneish M-Score: -0.04 (As of Jul. 02, 2026)


SCAG Scage Future SCAG
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What is Scage Future Beneish M-Score?

Scage Future SCAG -8.79% 4 Beneish M-Score is -0.04 as of Jul. 02, 2026. GuruFocus rates SCAG with a GF Score™ of 4/100. The stock has 7 warning signs investors should review. Among 205 Farm & Heavy Construction Machinery companies, Scage Future ranks worse than 97.07% 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 -0.04 higher than -1.78, which implies that the company might have manipulated its financial results.

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

SCAG' s Beneish M-Score Range Over the Past 10 Years
Min: -0.04   Med: 2.47   Max: 4.98
Current: -0.04

During the past 4 years, the highest Beneish M-Score of Scage Future was 4.98. The lowest was -0.04. And the median was 2.47.

Scage Future Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Scage Future'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.

Scage Future Beneish M-Score Chart

Scage Future Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 4.98 -0.04

Scage Future Semi-Annual Data
Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 4.98 0.00 -0.04 0.00

SCAG vs XOS, ARTW, HCAI: Beneish M-Score Comparison

For the Farm & Heavy Construction Machinery subindustry, Scage Future'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.

Scage Future Beneish M-Score vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Scage Future's Beneish M-Score distribution charts can be found below:

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


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Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Scage Future 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 Scage Future 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 * 0.4091+0.528 * -1.3683+0.404 * 13.0733+0.892 * 1.8202+0.115 * 0.9977
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3528+4.679 * -0.290364-0.327 * 0.8561
=-0.04

* 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 $3.01 Mil.
Revenue was $11.12 Mil.
Gross Profit was $-0.71 Mil.
Total Current Assets was $5.02 Mil.
Total Assets was $26.48 Mil.
Property, Plant and Equipment(Net PPE) was $0.84 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.46 Mil.
Selling, General, & Admin. Expense(SGA) was $11.11 Mil.
Total Current Liabilities was $25.41 Mil.
Long-Term Debt & Capital Lease Obligation was $2.02 Mil.
Net Income was $-12.94 Mil.
Gross Profit was $0.64 Mil.
Cash Flow from Operations was $-5.89 Mil.
 Total Receivables was $4.04 Mil.
Revenue was $6.11 Mil.
Gross Profit was $0.54 Mil.
Total Current Assets was $8.55 Mil.
Total Assets was $10.56 Mil.
Property, Plant and Equipment(Net PPE) was $1.37 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.75 Mil.
Selling, General, & Admin. Expense(SGA) was $4.51 Mil.
Total Current Liabilities was $12.68 Mil.
Long-Term Debt & Capital Lease Obligation was $0.09 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)
=(3.011 / 11.123) / (4.044 / 6.111)
=0.2707 / 0.661757
=0.4091

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)
=(0.536 / 6.111) / (-0.713 / 11.123)
=0.087711 / -0.064101
=-1.3683

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 - (5.015 + 0.84) / 26.484) / (1 - (8.554 + 1.374) / 10.557)
=0.778923 / 0.059581
=13.0733

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
=11.123 / 6.111
=1.8202

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))
=(0.753 / (0.753 + 1.374)) / (0.462 / (0.462 + 0.84))
=0.35402 / 0.354839
=0.9977

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)
=(11.11 / 11.123) / (4.512 / 6.111)
=0.998831 / 0.738341
=1.3528

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)
=((2.019 + 25.408) / 26.484) / ((0.087 + 12.683) / 10.557)
=1.035606 / 1.209624
=0.8561

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
=(-12.944 - 0.64 - -5.894) / 26.484
=-0.290364

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.

Scage Future has a M-score of -0.04 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 -0.04 mean?
Scage Future (SCAG) has a Beneish M-Score of -0.04 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Scage Future and its competitors. According to the industry distribution chart, Scage Future ranks #199 out of 205 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 97.1%.
Is Scage Future's Beneish M-Score too high?
Scage Future's current Beneish M-Score is -0.04. Based on the distribution chart, Scage Future ranks #199 out of 205 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Scage Future has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Scage Future's Beneish M-Score compare to XOS and ARTW?
According to the Farm & Heavy Construction Machinery industry distribution chart, Scage Future ranks #199 out of 205 companies for Beneish M-Score. This places Scage Future 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 Farm & Heavy Construction Machinery company?
A good Beneish M-Score depends on the Farm & Heavy Construction Machinery 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 Scage Future and its competitors. Scage Future's current Beneish M-Score is -0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Scage Future stock overvalued right now?
Scage Future (SCAG) has a current Beneish M-Score of -0.04. The current Beneish M-Score is -0.04. Scage Future's overall GF Score™ is 4/100 with 7 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 Scage Future (SCAG), the current Beneish M-Score is -0.04 as of Jul. 02, 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.

Scage Future Business Description

Address No. 6 Fengxin Road, 2nd Floor, Building 6, Jiangsu Province, Yuhuatai District, Nanjing, CHN, 210012
Scage Future is a zero-emission solution provider in China, focusing on the development and commercialization of heavy-duty new energy vehicle ("NEV") trucks and e-fuel solutions. The company generates revenues principally from sales of commercial NEVs and components. The company's product line includes Dragon King, Galaxy II and Q-truck.
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