Nyocor CoSHSE:600821 -1.47%68 Beneish M-Score is -2.89 as of Jul. 05, 2026. GuruFocus rates SHSE:600821 with a GF Score™ of 68/100 and a GF Value™ of ¥5.63 (Fairly Valued). The stock has 8 warning signs investors should review. Among 391 Utilities - Independent Power Producers companies, Nyocor Co ranks better than 74.42% 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 Nyocor Co's Beneish M-Score or its related term are showing as below:
SHSE:600821'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.55 Med: -2.34 Max: 1109.69
Current: -2.89
During the past 13 years, the highest Beneish M-Score of Nyocor Co was 1109.69. The lowest was -4.55. And the median was -2.34.
Nyocor Co Beneish M-Score Related Terms
Nyocor Co Beneish M-Score Historical Data
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The historical data trend for Nyocor Co'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.
For the Utilities - Renewable subindustry, Nyocor Co'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.
Nyocor Co Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Nyocor Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nyocor Co'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 Nyocor Co 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 * 0.9577
+
0.528 * 1.123
+
0.404 * 1.0334
+
0.892 * 0.9237
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.204
+
4.679 * -0.076489
-
0.327 * 0.9639
=
-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))
=
(0 / (0 + 23733.986))
/
(0 / (0 + 23868.516))
=
0
/
0
=
1
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
=
(-38.313 - 0
-
2994.866)
/
39655.156
=
-0.076489
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.
Nyocor Co has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
Nyocor Co (SHSE:600821) has a Beneish M-Score of -2.89 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nyocor Co and its competitors. According to the industry distribution chart, Nyocor Co ranks #100 out of 391 companies in the Utilities - Independent Power Producers industry, placing it in the top 25.6%.
Is Nyocor Co's Beneish M-Score too high?
Nyocor Co's current Beneish M-Score is -2.89. Based on the distribution chart, Nyocor Co ranks #100 out of 391 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Nyocor Co has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nyocor Co's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Nyocor Co ranks #100 out of 391 companies for Beneish M-Score. This puts Nyocor Co 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Nyocor Co and its competitors. Nyocor Co'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 Nyocor Co stock overvalued right now?
Based on GuruFocus' analysis, Nyocor Co (SHSE:600821) is currently considered Fairly Valued. The stock's GF Value™ is ¥5.63, compared to a current price of ¥6.04 — trading 7.3% above its estimated fair value. The current Beneish M-Score is -2.89. Nyocor Co's overall GF Score™ is 68/100 with 8 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 Nyocor Co (SHSE:600821), the current Beneish M-Score is -2.89 as of Jul. 05, 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 Nyocor Co (SHSE:600821) Overvalued in 2026?
Based on GuruFocus' analysis, Nyocor Co stock appears to be overvalued.
The current stock price of ¥6.04 is trading 7.3% above its estimated GF Value™ of ¥5.63.
GuruFocus considers Nyocor Co to be Fairly Valued.
Key valuation signals for SHSE:600821:
Beneish M-Score: -2.89
GF Value™: ¥5.63 vs. price of ¥6.04 (7.3% above fair value)
No single metric tells the full story. See the SHSE:600821 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nyocor Co Ltd operates in the retail business in China. The company's stores include Zhou Shengsheng which deals in jewelry, an Apple store that provides electronics, and Li Ning offers western clothes.
68GF Score
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