Camsing Healthcare (SGX:BAC) Beneish M-Score: -6.21 (As of Jul. 17, 2026)

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What is Camsing Healthcare Beneish M-Score?

Camsing Healthcare SGX:BAC Beneish M-Score is -6.21 as of Jul. 17, 2026. The stock has 8 warning signs investors should review. Among 295 Retail - Defensive companies, Camsing Healthcare ranks better than 98.64% 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 -6.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGX:BAC' s Beneish M-Score Range Over the Past 10 Years
Min: -12.29   Med: -6.09   Max: -1.69
Current: -6.21

During the past 13 years, the highest Beneish M-Score of Camsing Healthcare was -1.69. The lowest was -12.29. And the median was -6.09.

Camsing Healthcare Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Camsing Healthcare'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.

Camsing Healthcare Beneish M-Score Chart

Camsing Healthcare Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.87 -4.52 -9.11 -4.64 -8.54

Camsing Healthcare Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 -3.80 -11.41 -12.29 -8.54 -6.21

SGX:BAC vs SYY, USFD, PFGC: Beneish M-Score Comparison

For the Food Distribution subindustry, Camsing Healthcare'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.

Camsing Healthcare Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Camsing Healthcare's Beneish M-Score distribution charts can be found below:

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


Camsing Healthcare 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 Camsing Healthcare 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 * 1.661+0.528 * 1.007+0.404 * 0.8552+0.892 * 0.7186+0.115 * -0.7961
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9385+4.679 * -0.727183-0.327 * 2.3296
=-6.21

* 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 (Apr26) TTM:Last Year (Apr25) TTM:
Total Receivables was S$0.07 Mil.
Revenue was 0.871 + 0.904 + 0.963 + 0.829 = S$3.57 Mil.
Gross Profit was 0.477 + 0.47 + 0.52 + 0.469 = S$1.94 Mil.
Total Current Assets was S$0.75 Mil.
Total Assets was S$1.01 Mil.
Property, Plant and Equipment(Net PPE) was S$0.19 Mil.
Depreciation, Depletion and Amortization(DDA) was S$-0.08 Mil.
Selling, General, & Admin. Expense(SGA) was S$3.54 Mil.
Total Current Liabilities was S$5.85 Mil.
Long-Term Debt & Capital Lease Obligation was S$1.56 Mil.
Net Income was -0.299 + -0.339 + -0.148 + -0.408 = S$-1.19 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S$0.00 Mil.
Cash Flow from Operations was -0.28 + -0.007 + -0.03 + -0.144 = S$-0.46 Mil.
 Total Receivables was S$0.06 Mil.
Revenue was 1.251 + 1.144 + 1.014 + 1.555 = S$4.96 Mil.
Gross Profit was 0.644 + 0.667 + 0.611 + 0.791 = S$2.71 Mil.
Total Current Assets was S$0.90 Mil.
Total Assets was S$1.95 Mil.
Property, Plant and Equipment(Net PPE) was S$0.91 Mil.
Depreciation, Depletion and Amortization(DDA) was S$1.08 Mil.
Selling, General, & Admin. Expense(SGA) was S$5.25 Mil.
Total Current Liabilities was S$3.25 Mil.
Long-Term Debt & Capital Lease Obligation was S$2.91 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)
=(0.074 / 3.567) / (0.062 / 4.964)
=0.020746 / 0.01249
=1.661

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)
=(2.713 / 4.964) / (1.936 / 3.567)
=0.546535 / 0.542753
=1.007

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 - (0.754 + 0.19) / 1.008) / (1 - (0.898 + 0.91) / 1.953)
=0.063492 / 0.074245
=0.8552

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
=3.567 / 4.964
=0.7186

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))
=(1.079 / (1.079 + 0.91)) / (-0.077 / (-0.077 + 0.19))
=0.542484 / -0.681416
=-0.7961

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)
=(3.541 / 3.567) / (5.251 / 4.964)
=0.992711 / 1.057816
=0.9385

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)
=((1.56 + 5.849) / 1.008) / ((2.909 + 3.253) / 1.953)
=7.350198 / 3.155146
=2.3296

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
=(-1.194 - 0 - -0.461) / 1.008
=-0.727183

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.

Camsing Healthcare has a M-score of -6.21 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 -6.21 mean?
Camsing Healthcare (SGX:BAC) has a Beneish M-Score of -6.21 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Camsing Healthcare and its competitors. According to the industry distribution chart, Camsing Healthcare ranks #4 out of 295 companies in the Retail - Defensive industry, placing it in the top 1.4%.
Is Camsing Healthcare's Beneish M-Score too high?
Camsing Healthcare's current Beneish M-Score is -6.21. Based on the distribution chart, Camsing Healthcare ranks #4 out of 295 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers.
How does Camsing Healthcare's Beneish M-Score compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Camsing Healthcare ranks #4 out of 295 companies for Beneish M-Score. This places Camsing Healthcare 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Camsing Healthcare and its competitors. Camsing Healthcare's current Beneish M-Score is -6.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Camsing Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Camsing Healthcare (SGX:BAC) is currently considered Significantly Overvalued. The stock's GF Value™ is S$0.04, compared to a current price of S$0.06 — trading 57.5% above its estimated fair value. The current Beneish M-Score is -6.21. 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 Camsing Healthcare (SGX:BAC), the current Beneish M-Score is -6.21 as of Jul. 17, 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.

Camsing Healthcare Business Description

Address 16 Raffles Place, No. 17-03 Hong Leong Building, Singapore, SGP, 048581
Camsing Healthcare Ltd is an investment holding company. The company along with its subsidiaries is engaged in the distribution and retailing of health supplements and foods. Its operating segment includes Health Food Trade and Corporate and others. The company generates the maximum of its revenue from the Health Food Trade segment.