Ascent Bridge (SGX:AWG) Beneish M-Score: -3.19 (As of Jun. 29, 2026)

What is Ascent Bridge Beneish M-Score?

Ascent Bridge SGX:AWG 27 Beneish M-Score is -3.19 as of Jun. 29, 2026. GuruFocus rates SGX:AWG with a GF Score™ of 27/100. The stock has 6 warning signs investors should review. Among 684 Metals & Mining companies, Ascent Bridge ranks better than 85.96% 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 -3.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGX:AWG' s Beneish M-Score Range Over the Past 10 Years
Min: -9.36 Med: -3.58 Max: 1237.11
Current: -3.19

During the past 13 years, the highest Beneish M-Score of Ascent Bridge was 1237.11. The lowest was -9.36. And the median was -3.58.

Ascent Bridge Beneish M-Score Related Terms

Ascent Bridge Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ascent Bridge'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.

Ascent Bridge Beneish M-Score Chart

Ascent Bridge Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Mar24

Mar25

Mar26

Beneish M-Score

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-3.33

1,237.11

0.00

-2.64

-3.19

Ascent Bridge Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	-2.64	0.00	-3.19

SGX:AWG vs AA, CENX, CSTM: Beneish M-Score Comparison

For the Aluminum subindustry, Ascent Bridge'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.

Ascent Bridge Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Ascent Bridge's Beneish M-Score distribution charts can be found below:

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

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27GF Score

Ascent Bridge Ltd SGX:AWG

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

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Ascent Bridge 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 Ascent Bridge 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 * 1.6478

0.528 * 1.5882

0.404 * 1.0094

0.892 * 0.5097

0.115 * 0.8684

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.6741

4.679 * -0.153028

0.327 * 2.0422

-3.19

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was S$1.50 Mil.
Revenue was S$1.05 Mil.
Gross Profit was S$0.28 Mil.
Total Current Assets was S$9.88 Mil.
Total Assets was S$29.99 Mil.
Property, Plant and Equipment(Net PPE) was S$0.49 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.96 Mil.
Selling, General, & Admin. Expense(SGA) was S$5.17 Mil.
Total Current Liabilities was S$5.91 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.11 Mil.
Net Income was S$-6.39 Mil.
Gross Profit was S$0.00 Mil.
Cash Flow from Operations was S$-1.80 Mil.

Total Receivables was S$1.78 Mil.
Revenue was S$2.06 Mil.
Gross Profit was S$0.86 Mil.
Total Current Assets was S$11.23 Mil.
Total Assets was S$33.85 Mil.
Property, Plant and Equipment(Net PPE) was S$0.68 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.93 Mil.
Selling, General, & Admin. Expense(SGA) was S$6.06 Mil.
Total Current Liabilities was S$3.13 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)
	=	(1.495 / 1.05)	/	(1.78 / 2.06)
	=	1.42381	/	0.864078
	=	1.6478

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)
	=	(0.86 / 2.06)	/	(0.276 / 1.05)
	=	0.417476	/	0.262857
	=	1.5882

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 - (9.879 + 0.485) / 29.988)	/	(1 - (11.225 + 0.679) / 33.85)
	=	0.654395	/	0.648331
	=	1.0094

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
	=	1.05	/	2.06
	=	0.5097

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))
	=	(0.926 / (0.926 + 0.679))	/	(0.96 / (0.96 + 0.485))
	=	0.576947	/	0.66436
	=	0.8684

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)
	=	(5.172 / 1.05)	/	(6.061 / 2.06)
	=	4.925714	/	2.942233
	=	1.6741

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)
	=	((0.113 + 5.908) / 29.988)	/	((0.203 + 3.125) / 33.85)
	=	0.20078	/	0.098316
	=	2.0422

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
	=	(-6.393 - 0	-	-1.804)	/	29.988
	=	-0.153028

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.

Ascent Bridge has a M-score of -3.19 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 -3.19 mean?

Ascent Bridge (SGX:AWG) has a Beneish M-Score of -3.19 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ascent Bridge and its competitors. According to the industry distribution chart, Ascent Bridge ranks #96 out of 684 companies in the Metals & Mining industry, placing it in the top 14%.

Is Ascent Bridge's Beneish M-Score too high?

Ascent Bridge's current Beneish M-Score is -3.19. Based on the distribution chart, Ascent Bridge ranks #96 out of 684 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Ascent Bridge has a GF Score™ of 27/100, reflecting its overall financial health beyond just this single metric.

How does Ascent Bridge's Beneish M-Score compare to AA and CENX?

According to the Metals & Mining industry distribution chart, Ascent Bridge ranks #96 out of 684 companies for Beneish M-Score. This places Ascent Bridge in the top 14% 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 Metals & Mining company?

A good Beneish M-Score depends on the Metals & Mining 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 Ascent Bridge and its competitors. Ascent Bridge's current Beneish M-Score is -3.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Ascent Bridge stock overvalued right now?

Ascent Bridge (SGX:AWG) has a current Beneish M-Score of -3.19. The current Beneish M-Score is -3.19. Ascent Bridge's overall GF Score™ is 27/100 with 6 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 Ascent Bridge (SGX:AWG), the current Beneish M-Score is -3.19 as of Jun. 29, 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.

Ascent Bridge Business Description

Industry Basic Materials Metals & Mining

Comparable Companies SGX:5MD SGX:5FX SZSE:002379 HKSE:01378 NSE:HINDALCO SHSE:601600 OSL:NHY NSE:VAML XKLS:8869 AA SZSE:000807 SZSE:002532 SZSE:000933 SHSE:600219 BOM:532234 MIC:RUAL SZSE:300489 CENX CSTM HKSE:02788

Address 9 Temasek Boulevard, No. 28-05 Suntec Tower Two, Singapore, SGP, 038989

Website https://www.aei.com.sg

Ascent Bridge Ltd is involved in investment holdings related to the production and distribution of liquor and beverages. The company operates through different business segments, including Beverage, Changchang Card, and Others. Geographically, it serves markets in Singapore, the United States, Hong Kong, Cambodia, Korea, and various other countries. The majority of the company's revenue is generated from Singapore.

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