SOLE (Sole Elite Group) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is Sole Elite Group Beneish M-Score?

Sole Elite Group SOLE Beneish M-Score is 0.00 as of Jun. 26, 2026.

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.

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

During the past 3 years, the highest Beneish M-Score of Sole Elite Group was 0.00. The lowest was 0.00. And the median was 0.00.

Sole Elite Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sole Elite Group'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.

Sole Elite Group Beneish M-Score Chart

Sole Elite Group Annual Data
Trend Dec12 Dec13 Dec14
Beneish M-Score
0.00 0.00 0.00

Sole Elite Group Semi-Annual Data
Dec12 Dec13 Dec14
Beneish M-Score 0.00 0.00 0.00

SOLE vs FORD, JCLY, TLF: Beneish M-Score Comparison

For the Footwear & Accessories subindustry, Sole Elite Group'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.

Sole Elite Group Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Sole Elite Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sole Elite Group's Beneish M-Score falls into.


Sole Elite Group 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 Sole Elite Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec14) TTM:Last Year (Dec13) TTM:
Total Receivables was $12.55 Mil.
Revenue was $113.91 Mil.
Gross Profit was $42.67 Mil.
Total Current Assets was $32.40 Mil.
Total Assets was $37.35 Mil.
Property, Plant and Equipment(Net PPE) was $4.71 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.71 Mil.
Selling, General, & Admin. Expense(SGA) was $3.12 Mil.
Total Current Liabilities was $12.38 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $28.79 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $30.19 Mil.
 Total Receivables was $10.67 Mil.
Revenue was $85.82 Mil.
Gross Profit was $31.56 Mil.
Total Current Assets was $35.15 Mil.
Total Assets was $40.27 Mil.
Property, Plant and Equipment(Net PPE) was $5.12 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.69 Mil.
Selling, General, & Admin. Expense(SGA) was $2.37 Mil.
Total Current Liabilities was $11.36 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(12.548 / 113.912) / (10.67 / 85.817)
=0.110155 / 0.124334
=

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)
=(31.558 / 85.817) / (42.666 / 113.912)
=0.367736 / 0.374552
=

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 - (32.401 + 4.711) / 37.349) / (1 - (35.153 + 5.12) / 40.273)
=0.006346 / 0
=

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
=113.912 / 85.817
=

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))
=(0.694 / (0.694 + 5.12)) / (0.707 / (0.707 + 4.711))
=0.119367 / 0.130491
=

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)
=(3.117 / 113.912) / (2.371 / 85.817)
=0.027363 / 0.027629
=

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)
=((0 + 12.379) / 37.349) / ((0 + 11.357) / 40.273)
=0.331441 / 0.282
=

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
=(28.792 - 0 - 30.185) / 37.349
=-0.037297

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Sole Elite Group (SOLE) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sole Elite Group and its competitors.
Is Sole Elite Group's Beneish M-Score too high?
Sole Elite Group's current Beneish M-Score is 0.00.
How does Sole Elite Group's Beneish M-Score compare to FORD and JCLY?
Sole Elite Group's Beneish M-Score of 0.00 can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Sole Elite Group and its competitors. Sole Elite Group's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sole Elite Group stock overvalued right now?
Sole Elite Group (SOLE) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Sole Elite Group (SOLE), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Sole Elite Group Business Description

Sole Elite Group Ltd was formed on December 10, 2014. The Company, through its subsidiaries, is engaged in the business of designing, producing and selling shoe soles. It has four product lines: RB soles, MD soles, single color IP sole and dual color IP sole products. Its manufacturing facilities in China are located in Jinjiang, Fujian Province, which has a high concentration of footwear industry participants. Sports shoe soles are made of various materials, such as EVA, RB, PU, TPE, and TPU. The core materials of shoe soles are EVA and RB. The principal raw materials used in the production of its products are EVA, rubber, TPU, color dyes and other chemical additives. Its raw materials are sourced suppliers in the PRC located in Quanzhou, Fujian Province, which is close to its production facilities. It sells products to sportswear manufacturers that are based in China, including a number of companies in the athletic wear market, including Li-Ning, 361º, ERKE and Anta. It also sells products to OEM footwear companies for international athletic brands, such as Taiwan Ching Luh, which is an OEM footwear company that is a supplier to Adidas, Reebok, Mizuno and Under Armour in Asia. Customers use its products as components in the athletic footwear that it sells to end consumers, athletic wear companies and shoe distributors. Its customer includes Fujian Ching Luh Shoes Co., Ltd., which is an OEM footwear company that is a supplier to Adidas, Reebok, Mizuno and Under Armour. Its direct competition comes from various shoe sole production companies in China, such as Multi Sports Holding Ltd., Victory New Materials Limited Company, Fenghua SoleTech AG, Tai Ya Shoes Co., Ltd., Mao Tai (Fujian) Soles Co., Ltd. and Xing Quan International Sports Holdings Limited. It currently hold four PRC patents. The Company is subject to all China's national and local laws and regulations, including those related to environmental protection, foreign currency, property ownership and taxation.