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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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for IHH Healthcare Bhd's Beneish M-Score or its related term are showing as below:
SGX:Q0F'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.84 Med: -2.61 Max: -2.39
Current: -2.84
During the past 13 years, the highest Beneish M-Score of IHH Healthcare Bhd was -2.39. The lowest was -2.84. And the median was -2.61.
IHH Healthcare Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for IHH Healthcare Bhd'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.
SGX:Q0F vs HCA, THC, DVA: Beneish M-Score Comparison
For the Medical Care Facilities subindustry, IHH Healthcare Bhd'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.
IHH Healthcare Bhd Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, IHH Healthcare Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IHH Healthcare Bhd's Beneish M-Score falls into.
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 IHH Healthcare Bhd 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 * 0.8869
+
0.528 * 1.0047
+
0.404 * 0.9626
+
0.892 * 1.1004
+
0.115 * 0.973
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.060277
-
0.327 * 1.0146
=
-2.80
* 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.
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.
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))
=
(525.268 / (525.268 + 7202.901))
/
(603.329 / (603.329 + 8033.646))
=
0.067968
/
0.069854
=
0.973
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
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
=
(663.314 - 0
-
1759.787)
/
18190.466
=
-0.060277
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.
IHH Healthcare Bhd has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
IHH Healthcare Bhd (SGX:Q0F) has a Beneish M-Score of -2.84 as of Aug. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on IHH Healthcare Bhd and its competitors. According to the industry distribution chart, IHH Healthcare Bhd ranks #178 out of 625 companies in the Healthcare Providers & Services industry, placing it in the top 28.5%.
Is IHH Healthcare Bhd's Beneish M-Score too high?
IHH Healthcare Bhd's current Beneish M-Score is -2.84. Based on the distribution chart, IHH Healthcare Bhd ranks #178 out of 625 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, IHH Healthcare Bhd has a GF Score™ of 96/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does IHH Healthcare Bhd's Beneish M-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, IHH Healthcare Bhd ranks #178 out of 625 companies for Beneish M-Score. This puts IHH Healthcare Bhd in the upper 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 IHH Healthcare Bhd and its competitors. IHH Healthcare Bhd's current Beneish M-Score is -2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IHH Healthcare Bhd stock overvalued right now?
Based on GuruFocus' analysis, IHH Healthcare Bhd (SGX:Q0F) is currently considered Fairly Valued. The stock's GF Value™ is S$2.63, compared to a current price of S$2.60 — trading 1.1% below its estimated fair value. The current Beneish M-Score is -2.84. IHH Healthcare Bhd's overall GF Score™ is 96/100 with 11 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 IHH Healthcare Bhd (SGX:Q0F), the current Beneish M-Score is -2.84 as of Aug. 07, 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.
Is IHH Healthcare Bhd (SGX:Q0F) Overvalued in 2026?
Based on GuruFocus' analysis, IHH Healthcare Bhd stock appears to be undervalued.
The current stock price of S$2.60 is trading 1.1% below its estimated GF Value™ of S$2.63.
GuruFocus considers IHH Healthcare Bhd to be Fairly Valued.
Key valuation signals for SGX:Q0F:
Beneish M-Score: -2.84
GF Value™: S$2.63 vs. price of S$2.60 (1.1% below fair value)
No single metric tells the full story. See the SGX:Q0F stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IHH Healthcare Bhd is an investment holding company. Through its subsidiaries, it is a healthcare services provider that operates a network of hospitals. It also provides ancillary services, which include diagnostic laboratories, imaging centers, ambulatory care, and medical education facilities. The company's reportable segments include Healthcare services, Laboratories services, and Management fees. The majority of its revenue is generated from the Healthcare services segment, which relates to contracts with patients in which performance obligations are to provide healthcare services. Geographically, the company derives maximum revenue from Turkiye and Europe, followed by Singapore, Malaysia, India, Greater China, and Others.
96GF Score
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