AcroMeta Group (SGX:43F) Beneish M-Score: -6.63 (As of Jul. 01, 2026)


What is AcroMeta Group Beneish M-Score?

AcroMeta Group SGX:43F Beneish M-Score is -6.63 as of Jul. 01, 2026. The stock has 4 warning signs investors should review. Among 1,699 Construction companies, AcroMeta Group ranks better than 98.88% 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 -6.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGX:43F' s Beneish M-Score Range Over the Past 10 Years
Min: -6.63   Med: -2.08   Max: 3.55
Current: -6.63

During the past 13 years, the highest Beneish M-Score of AcroMeta Group was 3.55. The lowest was -6.63. And the median was -2.08.

AcroMeta Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AcroMeta 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.

AcroMeta Group Beneish M-Score Chart

AcroMeta Group Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.86 -1.71 3.55 -1.88 -6.63

AcroMeta Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 -1.88 0.00 -6.63 0.00

SGX:43F vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, AcroMeta 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.

AcroMeta Group Beneish M-Score vs Construction Industry

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

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


AcroMeta 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 AcroMeta 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 * 0.3349+0.528 * 0.8656+0.404 * 2.5832+0.892 * 0.7452+0.115 * 1.2866
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.4233+4.679 * -0.847864-0.327 * 0.6149
=-6.63

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was S$1.05 Mil.
Revenue was S$4.24 Mil.
Gross Profit was S$1.31 Mil.
Total Current Assets was S$3.97 Mil.
Total Assets was S$5.67 Mil.
Property, Plant and Equipment(Net PPE) was S$0.31 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.58 Mil.
Selling, General, & Admin. Expense(SGA) was S$5.04 Mil.
Total Current Liabilities was S$1.06 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.95 Mil.
Net Income was S$-4.32 Mil.
Gross Profit was S$0.00 Mil.
Cash Flow from Operations was S$0.49 Mil.
 Total Receivables was S$4.21 Mil.
Revenue was S$5.69 Mil.
Gross Profit was S$1.52 Mil.
Total Current Assets was S$14.37 Mil.
Total Assets was S$16.23 Mil.
Property, Plant and Equipment(Net PPE) was S$0.32 Mil.
Depreciation, Depletion and Amortization(DDA) was S$1.65 Mil.
Selling, General, & Admin. Expense(SGA) was S$4.75 Mil.
Total Current Liabilities was S$8.27 Mil.
Long-Term Debt & Capital Lease Obligation was S$1.07 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)
=(1.051 / 4.24) / (4.212 / 5.69)
=0.247877 / 0.740246
=0.3349

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)
=(1.517 / 5.69) / (1.306 / 4.24)
=0.266608 / 0.308019
=0.8656

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 - (3.974 + 0.311) / 5.666) / (1 - (14.371 + 0.324) / 16.226)
=0.243735 / 0.094355
=2.5832

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
=4.24 / 5.69
=0.7452

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))
=(1.652 / (1.652 + 0.324)) / (0.577 / (0.577 + 0.311))
=0.836032 / 0.649775
=1.2866

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)
=(5.04 / 4.24) / (4.752 / 5.69)
=1.188679 / 0.835149
=1.4233

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)
=((0.948 + 1.057) / 5.666) / ((1.066 + 8.272) / 16.226)
=0.353865 / 0.575496
=0.6149

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
=(-4.317 - 0 - 0.487) / 5.666
=-0.847864

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.

AcroMeta Group has a M-score of -6.63 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 -6.63 mean?
AcroMeta Group (SGX:43F) has a Beneish M-Score of -6.63 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AcroMeta Group and its competitors. According to the industry distribution chart, AcroMeta Group ranks #19 out of 1699 companies in the Construction industry, placing it in the top 1.1%.
Is AcroMeta Group's Beneish M-Score too high?
AcroMeta Group's current Beneish M-Score is -6.63. Based on the distribution chart, AcroMeta Group ranks #19 out of 1699 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does AcroMeta Group's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, AcroMeta Group ranks #19 out of 1699 companies for Beneish M-Score. This places AcroMeta Group in the top 1% 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 AcroMeta Group and its competitors. AcroMeta Group's current Beneish M-Score is -6.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AcroMeta Group stock overvalued right now?
Based on GuruFocus' analysis, AcroMeta Group (SGX:43F) is currently considered Modestly Undervalued. The stock's GF Value™ is S$0.02, compared to a current price of S$0.02 — trading 20% below its estimated fair value. The current Beneish M-Score is -6.63. 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 AcroMeta Group (SGX:43F), the current Beneish M-Score is -6.63 as of Jul. 01, 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.

AcroMeta Group Business Description

Address 6001 Beach Road, No. 16-03, Golden Mile Tower, Singapore, SGP, 199589
AcroMeta Group Ltd is an investment holding company. Its reportable segments include the Maintenance segment generates the majority of revenue, which provides installation and maintenance services for controlled environments and supporting infrastructure, and the Others segment, which consists of head office expenses incurred to support revenue growth and the expansion of new business segments, as well as SGX listing and compliance fees. The company's services include cleanrooms, laboratories, sterile facilities, and critical HVAC.