SIOLY (Sino-Ocean Group Holding) Beneish M-Score: -2.97 (As of Jul. 03, 2026)


What is Sino-Ocean Group Holding Beneish M-Score?

Sino-Ocean Group Holding SIOLY Beneish M-Score is -2.97 as of Jul. 03, 2026. The stock has 3 warning signs investors should review. Among 1,681 Real Estate companies, Sino-Ocean Group Holding ranks better than 82.81% 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 -2.97 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sino-Ocean Group Holding's Beneish M-Score or its related term are showing as below:

SIOLY' s Beneish M-Score Range Over the Past 10 Years
Min: -4.16   Med: -2.47   Max: -1.4
Current: -2.97

During the past 13 years, the highest Beneish M-Score of Sino-Ocean Group Holding was -1.40. The lowest was -4.16. And the median was -2.47.

Sino-Ocean Group Holding Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sino-Ocean Group Holding'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.

Sino-Ocean Group Holding Beneish M-Score Chart

Sino-Ocean Group Holding Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.83 -1.40 -2.58 -4.16 -2.97

Sino-Ocean Group Holding Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -2.58 0.00 -4.16 0.00 -2.97

Sino-Ocean Group Holding Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Sino-Ocean Group Holding'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.

Sino-Ocean Group Holding Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Sino-Ocean Group Holding's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sino-Ocean Group Holding's Beneish M-Score falls into.


Sino-Ocean Group Holding 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 Sino-Ocean Group Holding 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 * 1.3162+0.528 * 0.0236+0.404 * 0.9999+0.892 * 0.6488+0.115 * 0.8766
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.4953+4.679 * 0.02941-0.327 * 0.9756
=-2.97

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $5,559 Mil.
Revenue was $2,107 Mil.
Gross Profit was $-1,503 Mil.
Total Current Assets was $15,610 Mil.
Total Assets was $21,436 Mil.
Property, Plant and Equipment(Net PPE) was $461 Mil.
Depreciation, Depletion and Amortization(DDA) was $51 Mil.
Selling, General, & Admin. Expense(SGA) was $312 Mil.
Total Current Liabilities was $17,150 Mil.
Long-Term Debt & Capital Lease Obligation was $3,879 Mil.
Net Income was $959 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $329 Mil.
 Total Receivables was $6,509 Mil.
Revenue was $3,247 Mil.
Gross Profit was $-55 Mil.
Total Current Assets was $18,016 Mil.
Total Assets was $24,916 Mil.
Property, Plant and Equipment(Net PPE) was $663 Mil.
Depreciation, Depletion and Amortization(DDA) was $63 Mil.
Selling, General, & Admin. Expense(SGA) was $321 Mil.
Total Current Liabilities was $20,377 Mil.
Long-Term Debt & Capital Lease Obligation was $4,679 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)
=(5558.722 / 2106.632) / (6509.459 / 3247.026)
=2.638677 / 2.004745
=1.3162

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)
=(-54.692 / 3247.026) / (-1502.592 / 2106.632)
=-0.016844 / -0.713267
=0.0236

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 - (15610.107 + 460.535) / 21435.593) / (1 - (18016.226 + 662.848) / 24915.894)
=0.250282 / 0.250315
=0.9999

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
=2106.632 / 3247.026
=0.6488

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))
=(63.389 / (63.389 + 662.848)) / (50.925 / (50.925 + 460.535))
=0.087284 / 0.099568
=0.8766

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)
=(311.766 / 2106.632) / (321.362 / 3247.026)
=0.147993 / 0.098971
=1.4953

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)
=((3879.433 + 17150.292) / 21435.593) / ((4678.674 + 20376.884) / 24915.894)
=0.981066 / 1.005605
=0.9756

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
=(959.278 - 0 - 328.857) / 21435.593
=0.02941

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.

Sino-Ocean Group Holding has a M-score of -2.97 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 -2.97 mean?
Sino-Ocean Group Holding (SIOLY) has a Beneish M-Score of -2.97 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sino-Ocean Group Holding and its competitors. According to the industry distribution chart, Sino-Ocean Group Holding ranks #289 out of 1681 companies in the Real Estate industry, placing it in the top 17.2%.
Is Sino-Ocean Group Holding's Beneish M-Score too high?
Sino-Ocean Group Holding's current Beneish M-Score is -2.97. Based on the distribution chart, Sino-Ocean Group Holding ranks #289 out of 1681 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers.
How does Sino-Ocean Group Holding's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Sino-Ocean Group Holding ranks #289 out of 1681 companies for Beneish M-Score. This places Sino-Ocean Group Holding in the top 17% 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Sino-Ocean Group Holding and its competitors. Sino-Ocean Group Holding's current Beneish M-Score is -2.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sino-Ocean Group Holding stock overvalued right now?
Based on GuruFocus' analysis, Sino-Ocean Group Holding (SIOLY) is currently considered Possible Value Trap. The stock's GF Value™ is $0.12, compared to a current price of $0.08 — trading 35.5% below its estimated fair value. The current Beneish M-Score is -2.97. 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 Sino-Ocean Group Holding (SIOLY), the current Beneish M-Score is -2.97 as of Jul. 03, 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.

Sino-Ocean Group Holding Business Description

Other Exchanges 03377:Hong Kong
Address 56 Dongsihuanzhonglu, 31-33 Floor, Tower A, Ocean International Center, Chaoyang District, Beijing, CHN, 100025
Sino-Ocean Group Holding Ltd is a property developer. The company engages in the development of residential property, investment property development and operation, property services and whole-industrial chain construction services, with its scope of businesses also covering senior living service, internet data center, logistics real estate and real estate fund, etc. Its segments consist of property development, property investment, and property management. The majority of the revenue is derived from the property development segment. Its geographical locations include the Beijing Region, the Bohai Rim Region, the Eastern Region, the Southern Region, the Central Region, and the Western Region.