shopper360 (SGX:1F0) Beneish M-Score: -2.47 (As of Jul. 04, 2026)


What is shopper360 Beneish M-Score?

shopper360 SGX:1F0 Beneish M-Score is -2.47 as of Jul. 04, 2026. The stock has 3 warning signs investors should review. Among 980 Media - Diversified companies, shopper360 ranks worse than 56.63% 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 -2.47 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for shopper360's Beneish M-Score or its related term are showing as below:

SGX:1F0' s Beneish M-Score Range Over the Past 10 Years
Min: -2.73   Med: -2.41   Max: -1.73
Current: -2.47

During the past 12 years, the highest Beneish M-Score of shopper360 was -1.73. The lowest was -2.73. And the median was -2.41.

shopper360 Beneish M-Score Historical Data

* Premium members only.

The historical data trend for shopper360'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.

shopper360 Beneish M-Score Chart

shopper360 Annual Data
Trend May16 May17 May18 May19 May20 May21 May22 May23 May24 May25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.61 -1.82 -1.73 -2.35 -2.47

shopper360 Semi-Annual Data
May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
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 -2.35 0.00 -2.47 0.00

SGX:1F0 vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, shopper360'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.

shopper360 Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, shopper360's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where shopper360's Beneish M-Score falls into.


shopper360 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 shopper360 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 * 1.1496+0.528 * 1.3136+0.404 * 0.8569+0.892 * 1.0804+0.115 * 0.9029
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8328+4.679 * -0.061009-0.327 * 1.1225
=-2.47

* 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 (May25) TTM:Last Year (May24) TTM:
Total Receivables was S$15.38 Mil.
Revenue was S$55.92 Mil.
Gross Profit was S$8.91 Mil.
Total Current Assets was S$19.22 Mil.
Total Assets was S$26.08 Mil.
Property, Plant and Equipment(Net PPE) was S$0.70 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.68 Mil.
Selling, General, & Admin. Expense(SGA) was S$9.22 Mil.
Total Current Liabilities was S$6.31 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.12 Mil.
Net Income was S$-4.08 Mil.
Gross Profit was S$0.00 Mil.
Cash Flow from Operations was S$-2.49 Mil.
 Total Receivables was S$12.38 Mil.
Revenue was S$51.76 Mil.
Gross Profit was S$10.83 Mil.
Total Current Assets was S$18.89 Mil.
Total Assets was S$27.47 Mil.
Property, Plant and Equipment(Net PPE) was S$1.01 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.81 Mil.
Selling, General, & Admin. Expense(SGA) was S$10.25 Mil.
Total Current Liabilities was S$5.83 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.20 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)
=(15.376 / 55.92) / (12.38 / 51.758)
=0.274964 / 0.23919
=1.1496

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)
=(10.832 / 51.758) / (8.909 / 55.92)
=0.209282 / 0.159317
=1.3136

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 - (19.218 + 0.704) / 26.078) / (1 - (18.893 + 1.012) / 27.473)
=0.236061 / 0.27547
=0.8569

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
=55.92 / 51.758
=1.0804

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))
=(0.808 / (0.808 + 1.012)) / (0.681 / (0.681 + 0.704))
=0.443956 / 0.491697
=0.9029

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)
=(9.223 / 55.92) / (10.25 / 51.758)
=0.164932 / 0.198037
=0.8328

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)
=((0.119 + 6.31) / 26.078) / ((0.202 + 5.832) / 27.473)
=0.24653 / 0.219634
=1.1225

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
=(-4.084 - 0 - -2.493) / 26.078
=-0.061009

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.

shopper360 has a M-score of -2.47 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 -2.47 mean?
shopper360 (SGX:1F0) has a Beneish M-Score of -2.47 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on shopper360 and its competitors. According to the industry distribution chart, shopper360 ranks #555 out of 980 companies in the Media - Diversified industry, placing it in the top 56.6%.
Is shopper360's Beneish M-Score too high?
shopper360's current Beneish M-Score is -2.47. Based on the distribution chart, shopper360 ranks #555 out of 980 companies in the Media - Diversified industry, which is below the industry midpoint.
How does shopper360's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, shopper360 ranks #555 out of 980 companies for Beneish M-Score. This places shopper360 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 shopper360 and its competitors. shopper360's current Beneish M-Score is -2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is shopper360 stock overvalued right now?
Based on GuruFocus' analysis, shopper360 (SGX:1F0) is currently considered Significantly Undervalued. The stock's GF Value™ is S$0.09, compared to a current price of S$0.06 — trading 30% below its estimated fair value. The current Beneish M-Score is -2.47. 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 shopper360 (SGX:1F0), the current Beneish M-Score is -2.47 as of Jul. 04, 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.

shopper360 Business Description

Address 15 Jalan 16/11, Block A, 505, 5th Floor, Phileo Damansara 2, Petaling Jaya, SGR, MYS, 46350
shopper360 Ltd is a provider of shopper marketing services in the retail and consumer goods industry in Malaysia. It offers various marketing and advertising services across in-store experience to loyalty, retention, and repeat purchase. The group offers digital and non-digital in-store advertising mediums in retail chains, creative campaign development and mobile marketing services, events management, marketing programmes, marketing intelligence and analysis, and consumer relationship management services, among others. Its reportable segments are: Advertising and Marketing, Sales Execution and Distribution, and Others. Maximum revenue is generated from the Sales execution and distribution segment, which provides merchandiser, sales force and supervisory, and talent management services.