Tay Ninh Cable Car Tour Co (STC:TCT) Beneish M-Score: -2.60 (As of Aug. 09, 2026)

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STC:TCT Tay Ninh Cable Car Tour Co STC:TCT
75 GF Score
Price ₫17,800.00
GF Value ₫23,917.85
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Tay Ninh Cable Car Tour Co Beneish M-Score?

Tay Ninh Cable Car Tour Co STC:TCT 75 Beneish M-Score is -2.60 as of Aug. 09, 2026. GuruFocus rates STC:TCT with a GF Score™ of 75/100 and a GF Value™ of ₫23,917.85 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 814 Travel & Leisure companies, Tay Ninh Cable Car Tour Co ranks worse than 53.44% 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 -2.6 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Tay Ninh Cable Car Tour Co's Beneish M-Score or its related term are showing as below:

STC:TCT' s Beneish M-Score Range Over the Past 10 Years
Min: -3.25   Med: -2.32   Max: 45.47
Current: -2.6

During the past 13 years, the highest Beneish M-Score of Tay Ninh Cable Car Tour Co was 45.47. The lowest was -3.25. And the median was -2.32.

Tay Ninh Cable Car Tour Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tay Ninh Cable Car Tour 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.

Tay Ninh Cable Car Tour Co Beneish M-Score Chart

Tay Ninh Cable Car Tour Co 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 -2.99 -1.56 -1.06 -3.03 -2.81

Tay Ninh Cable Car Tour Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 -2.69 -2.55 -2.81 -2.79 -2.60

STC:TCT vs AS, HAS, LTH: Beneish M-Score Comparison

For the Leisure subindustry, Tay Ninh Cable Car Tour 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.

Tay Ninh Cable Car Tour Co Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Tay Ninh Cable Car Tour Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tay Ninh Cable Car Tour Co's Beneish M-Score falls into.


STC:TCT
75GF Score
Tay Ninh Cable Car Tour Co STC:TCT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Tay Ninh Cable Car Tour 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 Tay Ninh Cable Car Tour 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 * 0.8528+0.528 * 0.5073+0.404 * 0.3563+0.892 * 1.2128+0.115 * 1.0527
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2528+4.679 * 0.065971-0.327 * 0.7764
=-2.60

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was ₫335,310 Mil.
Revenue was 12343.07 + 17352.01 + 4950.171 + 8954.182 = ₫43,599 Mil.
Gross Profit was 5362.734 + 8081.279 + -1174.869 + 3328.284 = ₫15,597 Mil.
Total Current Assets was ₫370,645 Mil.
Total Assets was ₫381,357 Mil.
Property, Plant and Equipment(Net PPE) was ₫10,259 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫1,192 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,967 Mil.
Total Current Liabilities was ₫10,904 Mil.
Long-Term Debt & Capital Lease Obligation was ₫0 Mil.
Net Income was 6856.586 + 8843.523 + 2449.18 + 5972.254 = ₫24,122 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -3499.535 + -926.478 + 240.081 + 3148.805 = ₫-1,037 Mil.
 Total Receivables was ₫324,210 Mil.
Revenue was 8840.774 + 20705.012 + 2487.158 + 3916.776 = ₫35,950 Mil.
Gross Profit was 3073.044 + 11433.082 + -3899.075 + -4083.106 = ₫6,524 Mil.
Total Current Assets was ₫354,790 Mil.
Total Assets was ₫367,213 Mil.
Property, Plant and Equipment(Net PPE) was ₫11,200 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫1,379 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,295 Mil.
Total Current Liabilities was ₫13,523 Mil.
Long-Term Debt & Capital Lease Obligation was ₫0 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)
=(335309.888 / 43599.433) / (324209.762 / 35949.72)
=7.690694 / 9.018422
=0.8528

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)
=(6523.945 / 35949.72) / (15597.428 / 43599.433)
=0.181474 / 0.357744
=0.5073

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 - (370645.418 + 10258.934) / 381357.007) / (1 - (354790.311 + 11199.801) / 367213.293)
=0.001187 / 0.003331
=0.3563

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
=43599.433 / 35949.72
=1.2128

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))
=(1378.929 / (1378.929 + 11199.801)) / (1192.468 / (1192.468 + 10258.934))
=0.109624 / 0.104133
=1.0527

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)
=(1966.844 / 43599.433) / (1294.504 / 35949.72)
=0.045112 / 0.036009
=1.2528

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 + 10903.848) / 381357.007) / ((0 + 13522.52) / 367213.293)
=0.028592 / 0.036825
=0.7764

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
=(24121.543 - 0 - -1037.127) / 381357.007
=0.065971

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.

Tay Ninh Cable Car Tour Co has a M-score of -2.60 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 -2.60 mean?
Tay Ninh Cable Car Tour Co (STC:TCT) has a Beneish M-Score of -2.60 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tay Ninh Cable Car Tour Co and its competitors. According to the industry distribution chart, Tay Ninh Cable Car Tour Co ranks #435 out of 814 companies in the Travel & Leisure industry, placing it in the top 53.4%.
Is Tay Ninh Cable Car Tour Co's Beneish M-Score too high?
Tay Ninh Cable Car Tour Co's current Beneish M-Score is -2.60. Based on the distribution chart, Tay Ninh Cable Car Tour Co ranks #435 out of 814 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Tay Ninh Cable Car Tour Co has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tay Ninh Cable Car Tour Co's Beneish M-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Tay Ninh Cable Car Tour Co ranks #435 out of 814 companies for Beneish M-Score. This places Tay Ninh Cable Car Tour Co 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Tay Ninh Cable Car Tour Co and its competitors. Tay Ninh Cable Car Tour Co's current Beneish M-Score is -2.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tay Ninh Cable Car Tour Co stock overvalued right now?
Based on GuruFocus' analysis, Tay Ninh Cable Car Tour Co (STC:TCT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫23,917.85, compared to a current price of ₫17,800.00 — trading 25.6% below its estimated fair value. The current Beneish M-Score is -2.60. Tay Ninh Cable Car Tour Co's overall GF Score™ is 75/100 with 2 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 Tay Ninh Cable Car Tour Co (STC:TCT), the current Beneish M-Score is -2.60 as of Aug. 09, 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 Tay Ninh Cable Car Tour Co (STC:TCT) Overvalued in 2026?

Based on GuruFocus' analysis, Tay Ninh Cable Car Tour Co stock appears to be undervalued. The current stock price of ₫17,800.00 is trading 25.6% below its estimated GF Value™ of ₫23,917.85. GuruFocus considers Tay Ninh Cable Car Tour Co to be Modestly Undervalued.

Key valuation signals for STC:TCT:

  • Beneish M-Score: -2.60
  • GF Value™: ₫23,917.85 vs. price of ₫17,800.00 (25.6% below fair value)
  • GF Score™: 75/100 with 2 warning signs

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

Tay Ninh Cable Car Tour Co Business Description

Address Ba Den Mountain, Ninh Phu quarter, Binh Minh Ward, Tay Ninh town, Tay Ninh, VNM
Tay Ninh Cable Car Tour Co is a Vietnam based company. It is engaged in providing transportation services by the Ropeway and the Slideway system. It also offers Passenger transportation by tube car. The company also provides advertisement services such as hoarding, cabins, and pillars of the Ropeway system etc. The company's total revenue is the cable car and toboggan transport services in the Tay Ninh area. It operates only in Vietnam.
75GF Score

Get the complete analysis for STC:TCT

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

₫17,800.00
Price
₫23,917.85
GF Value