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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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Shanghai Moons' Electric Co's Beneish M-Score or its related term are showing as below:
SHSE:603728'
s Beneish M-Score Range Over the Past 10 Years
Min: -9.23 Med: -2.42 Max: 2.86
Current: -2.56
During the past 13 years, the highest Beneish M-Score of Shanghai Moons' Electric Co was 2.86. The lowest was -9.23. And the median was -2.42.
Shanghai Moons' Electric Co Beneish M-Score Related Terms
Shanghai Moons' Electric Co Beneish M-Score Historical Data
* 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.
SHSE:603728 vs VRT, BE: Beneish M-Score Comparison
For the Electrical Equipment & Parts subindustry, Shanghai Moons' Electric 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.
Shanghai Moons' Electric Co Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Shanghai Moons' Electric Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shanghai Moons' Electric Co's Beneish M-Score falls into.
Shanghai Moons' Electric Co 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 Shanghai Moons' Electric 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 * 0.8679
+
0.528 * 1.0256
+
0.404 * 1.018
+
0.892 * 1.1932
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9151
+
4.679 * -0.02877
-
0.327 * 1.0923
=
-2.56
* 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 + 890.696))
/
(0 / (0 + 1079.114))
=
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
=
(67.755 - 0
-
199.314)
/
4572.707
=
-0.02877
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.
Shanghai Moons' Electric Co has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.
Shanghai Moons' Electric Co (SHSE:603728) has a Beneish M-Score of -2.56 as of Jul. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shanghai Moons' Electric Co and its competitors. According to the industry distribution chart, Shanghai Moons' Electric Co ranks #1173 out of 2914 companies in the Industrial Products industry, placing it in the top 40.3%.
Is Shanghai Moons' Electric Co's Beneish M-Score too high?
Shanghai Moons' Electric Co's current Beneish M-Score is -2.56. Based on the distribution chart, Shanghai Moons' Electric Co ranks #1173 out of 2914 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Shanghai Moons' Electric Co has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shanghai Moons' Electric Co's Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Shanghai Moons' Electric Co ranks #1173 out of 2914 companies for Beneish M-Score. This puts Shanghai Moons' Electric 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Shanghai Moons' Electric Co and its competitors. Shanghai Moons' Electric Co's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Moons' Electric Co stock overvalued right now?
Based on GuruFocus' analysis, Shanghai Moons' Electric Co (SHSE:603728) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥69.52, compared to a current price of ¥47.01 — trading 32.4% below its estimated fair value. The current Beneish M-Score is -2.56. Shanghai Moons' Electric Co's overall GF Score™ is 80/100 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 Shanghai Moons' Electric Co (SHSE:603728), the current Beneish M-Score is -2.56 as of Jul. 28, 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 Shanghai Moons' Electric Co (SHSE:603728) Overvalued in 2026?
Based on GuruFocus' analysis, Shanghai Moons' Electric Co stock appears to be undervalued.
The current stock price of ¥47.01 is trading 32.4% below its estimated GF Value™ of ¥69.52.
GuruFocus considers Shanghai Moons' Electric Co to be Significantly Undervalued.
Key valuation signals for SHSE:603728:
Beneish M-Score: -2.56
GF Value™: ¥69.52 vs. price of ¥47.01 (32.4% below fair value)
No single metric tells the full story. See the SHSE:603728 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shanghai Moons' Electric Co Ltd is a China based manufacturer of motion control, intelligent LED lighting control, and industrial equipment management. Its products include drives, slotless motors, rotary stepper products, LED drivers, and Step-Servo products. The company has a business presence in China and various other countries. In addition, the company also offers support and training services. The products offered by the company have applications in various fields including 3D printer, lightning, textile, security, telecom, and medical and life science.
80GF Score
Get the complete analysis for SHSE:603728
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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