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SBS TransitSGX:S61 +0.28%79 Beneish M-Score is -2.89 as of Aug. 01, 2026. GuruFocus rates SGX:S61 with a GF Score™ of 79/100 and a GF Value™ of S$2.60 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 967 Transportation companies, SBS Transit ranks better than 77.77% 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 -2.89 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for SBS Transit's Beneish M-Score or its related term are showing as below:
SGX:S61'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.28 Med: -2.57 Max: -2.07
Current: -2.89
During the past 13 years, the highest Beneish M-Score of SBS Transit was -2.07. The lowest was -3.28. And the median was -2.57.
The historical data trend for SBS Transit'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:S61 vs UNP, CSX, NSC: Beneish M-Score Comparison
For the Railroads subindustry, SBS Transit'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.
SBS Transit Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, SBS Transit's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SBS Transit'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 SBS Transit 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 * 1.0529
+
0.528 * 0.9028
+
0.404 * 0.7974
+
0.892 * 0.9728
+
0.115 * 0.8905
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.061651
-
0.327 * 0.9949
=
-2.89
* 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))
=
(87.158 / (87.158 + 271.948))
/
(82.507 / (82.507 + 220.224))
=
0.242708
/
0.272542
=
0.8905
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
=
(61.196 - 0
-
128.582)
/
1093.021
=
-0.061651
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.
SBS Transit has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
SBS Transit (SGX:S61) has a Beneish M-Score of -2.89 as of Aug. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SBS Transit and its competitors. According to the industry distribution chart, SBS Transit ranks #215 out of 967 companies in the Transportation industry, placing it in the top 22.2%.
Is SBS Transit's Beneish M-Score too high?
SBS Transit's current Beneish M-Score is -2.89. Based on the distribution chart, SBS Transit ranks #215 out of 967 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, SBS Transit has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SBS Transit's Beneish M-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, SBS Transit ranks #215 out of 967 companies for Beneish M-Score. This places SBS Transit in the top 22% 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 SBS Transit and its competitors. SBS Transit's current Beneish M-Score is -2.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBS Transit stock overvalued right now?
Based on GuruFocus' analysis, SBS Transit (SGX:S61) is currently considered Significantly Overvalued. The stock's GF Value™ is S$2.60, compared to a current price of S$3.59 — trading 38.1% above its estimated fair value. The current Beneish M-Score is -2.89. SBS Transit's overall GF Score™ is 79/100 with 4 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 SBS Transit (SGX:S61), the current Beneish M-Score is -2.89 as of Aug. 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.
Is SBS Transit (SGX:S61) Overvalued in 2026?
Based on GuruFocus' analysis, SBS Transit stock appears to be overvalued.
The current stock price of S$3.59 is trading 38.1% above its estimated GF Value™ of S$2.60.
GuruFocus considers SBS Transit to be Significantly Overvalued.
Key valuation signals for SGX:S61:
Beneish M-Score: -2.89
GF Value™: S$2.60 vs. price of S$3.59 (38.1% above fair value)
No single metric tells the full story. See the SGX:S61 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBS Transit Ltd is engaged in providing public transport services and consultancy services relating to land transport. The provision of public transport services includes the operation of public buses and rail transit systems in Singapore. The company's operating segments are Public Transport Services and Other Commercial Services. The Public Transport Services include income generated from the provision of bus and rail services to commuters traveling on public transport systems. The Other Commercial Services include income generated from advertisements on buses and trains, and rental collection from commercial and shop space at bus interchanges and rail stations. The majority of the company's revenue is generated from the Public Transport Services segment.
79GF Score
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