Nam Long Investment (STC:NLG) Beneish M-Score: -1.61 (As of Jun. 30, 2026)


STC:NLG Nam Long Investment Corp STC:NLG
85 GF Score
Price ₫26,400.00
GF Value ₫41,327.95
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is Nam Long Investment Beneish M-Score?

Nam Long Investment STC:NLG -0.19% 85 Beneish M-Score is -1.61 as of Jun. 30, 2026. GuruFocus rates STC:NLG with a GF Score™ of 85/100 and a GF Value™ of ₫41,327.95 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,684 Real Estate companies, Nam Long Investment ranks worse than 78.15% 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.

Warning Sign:

Beneish M-Score -1.61 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Nam Long Investment's Beneish M-Score or its related term are showing as below:

STC:NLG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18   Med: -1.63   Max: 0.02
Current: -1.61

During the past 13 years, the highest Beneish M-Score of Nam Long Investment was 0.02. The lowest was -3.18. And the median was -1.63.

Nam Long Investment Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nam Long Investment'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.

Nam Long Investment Beneish M-Score Chart

Nam Long Investment 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 -2.10 -1.38 -1.94 -1.97 -1.62

Nam Long Investment Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -1.57 -0.84 -0.30 -1.62 -1.61

Nam Long Investment Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Nam Long Investment'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.

Nam Long Investment Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Nam Long Investment's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Nam Long Investment's Beneish M-Score falls into.


STC:NLG
85GF Score
Nam Long Investment Corp STC:NLG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nam Long Investment 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 Nam Long Investment 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 * 1.0722+0.528 * 0.9927+0.404 * 3.2872+0.892 * 0.6801+0.115 * 0.7424
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2314+4.679 * 0.04314-0.327 * 0.8883
=-1.61

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ₫985,332 Mil.
Revenue was 1279401.152 + 1704152.132 + 1877218.621 + 772555.911 = ₫5,633,328 Mil.
Gross Profit was 380926.28 + 785214.701 + 827455.41 + 331797.852 = ₫2,325,394 Mil.
Total Current Assets was ₫17,915,357 Mil.
Total Assets was ₫25,894,097 Mil.
Property, Plant and Equipment(Net PPE) was ₫73,450 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫52,569 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,242,595 Mil.
Total Current Liabilities was ₫5,928,131 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,275,819 Mil.
Net Income was 68223.693 + 347722.29 + 145962.935 + 99329.546 = ₫661,238 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -519058.317 + 371324.345 + -437039.625 + 128934.018 = ₫-455,840 Mil.
 Total Receivables was ₫1,351,164 Mil.
Revenue was 1291159.915 + 6368541.229 + 370575.024 + 252291.138 = ₫8,282,567 Mil.
Gross Profit was 412812.09 + 2724488.303 + 128290.418 + 128567.081 = ₫3,394,158 Mil.
Total Current Assets was ₫25,981,904 Mil.
Total Assets was ₫28,762,948 Mil.
Property, Plant and Equipment(Net PPE) was ₫109,710 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫49,224 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,483,676 Mil.
Total Current Liabilities was ₫8,635,976 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,124,252 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)
=(985332.181 / 5633327.816) / (1351164.325 / 8282567.306)
=0.174911 / 0.163134
=1.0722

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)
=(3394157.892 / 8282567.306) / (2325394.243 / 5633327.816)
=0.409795 / 0.412792
=0.9927

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 - (17915356.778 + 73450.049) / 25894096.681) / (1 - (25981903.64 + 109709.614) / 28762948.054)
=0.305293 / 0.092874
=3.2872

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
=5633327.816 / 8282567.306
=0.6801

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))
=(49223.717 / (49223.717 + 109709.614)) / (52569.33 / (52569.33 + 73450.049))
=0.309713 / 0.417153
=0.7424

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)
=(1242595.441 / 5633327.816) / (1483676.364 / 8282567.306)
=0.220579 / 0.179132
=1.2314

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)
=((4275819.167 + 5928131.482) / 25894096.681) / ((4124251.528 + 8635976.162) / 28762948.054)
=0.394065 / 0.443634
=0.8883

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
=(661238.464 - 0 - -455839.579) / 25894096.681
=0.04314

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.

Nam Long Investment has a M-score of -1.61 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 -1.61 mean?
Nam Long Investment (STC:NLG) has a Beneish M-Score of -1.61 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nam Long Investment and its competitors. According to the industry distribution chart, Nam Long Investment ranks #1316 out of 1684 companies in the Real Estate industry, placing it in the top 78.1%.
Is Nam Long Investment's Beneish M-Score too high?
Nam Long Investment's current Beneish M-Score is -1.61. Based on the distribution chart, Nam Long Investment ranks #1316 out of 1684 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Nam Long Investment has a GF Score™ of 85/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nam Long Investment's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Nam Long Investment ranks #1316 out of 1684 companies for Beneish M-Score. This places Nam Long Investment in the lower 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 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 Nam Long Investment and its competitors. Nam Long Investment's current Beneish M-Score is -1.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nam Long Investment stock overvalued right now?
Based on GuruFocus' analysis, Nam Long Investment (STC:NLG) is currently considered Possible Value Trap. The stock's GF Value™ is ₫41,327.95, compared to a current price of ₫26,400.00 — trading 36.1% below its estimated fair value. The current Beneish M-Score is -1.61. Nam Long Investment's overall GF Score™ is 85/100 with 7 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 Nam Long Investment (STC:NLG), the current Beneish M-Score is -1.61 as of Jun. 30, 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 Nam Long Investment (STC:NLG) Overvalued in 2026?

Based on GuruFocus' analysis, Nam Long Investment stock appears to be undervalued. The current stock price of ₫26,400.00 is trading 36.1% below its estimated GF Value™ of ₫41,327.95. GuruFocus considers Nam Long Investment to be Possible Value Trap.

Key valuation signals for STC:NLG:

  • Beneish M-Score: -1.61
  • GF Value™: ₫41,327.95 vs. price of ₫26,400.00 (36.1% below fair value)
  • GF Score™: 85/100 with 7 warning signs

No single metric tells the full story. See the STC:NLG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Nam Long Investment Business Description

Address Nguyen Khac Vien Street, No. 6, 11th Floor, Capital Tower, Tan Phu Ward, District 7, Ho Chi Minh, VNM
Nam Long Investment Corp is a Vietnam-based company real estate company engaged in civil and industrial construction; housing renovation; interior decoration; housing trade; road and bridge construction; construction of drainage systems; and other related activities. The company also develops land banks and housing projects, and is also involved in the management and exploitation of commercial real estate properties.
85GF Score

Get the complete analysis for STC:NLG

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₫26,400.00
Price
₫41,327.95
GF Value