China Pacific Insurance (Group) Co (STU:75C) Beneish M-Score: -2.80 (As of Jun. 24, 2026)


STU:75C China Pacific Insurance (Group) Co Ltd STU:75C
61 GF Score
Price €3.18
GF Value €4.12
Valuation Modestly Undervalued
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What is China Pacific Insurance (Group) Co Beneish M-Score?

China Pacific Insurance (Group) Co STU:75C -3.05% 61 Beneish M-Score is -2.80 as of Jun. 24, 2026. GuruFocus rates STU:75C with a GF Score™ of 61/100 and a GF Value™ of €4.12 (Modestly Undervalued). Among 399 Insurance companies, China Pacific Insurance (Group) Co ranks better than 78.2% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for China Pacific Insurance (Group) Co's Beneish M-Score or its related term are showing as below:

STU:75C' s Beneish M-Score Range Over the Past 10 Years
Min: -3.66   Med: -2.54   Max: -2.35
Current: -2.8

During the past 13 years, the highest Beneish M-Score of China Pacific Insurance (Group) Co was -2.35. The lowest was -3.66. And the median was -2.54.

STU:75C
61GF Score
China Pacific Insurance (Group) Co Ltd STU:75C
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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China Pacific Insurance (Group) 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 China Pacific Insurance (Group) 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 * 1+0.528 * 1+0.404 * 0.9997+0.892 * 1.0167+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7432+4.679 * -0.043203-0.327 * 1.6839
=-2.85

* 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 €0 Mil.
Revenue was 11466.606 + 10808.134 + 17141.544 + 12771.841 = €52,188 Mil.
Gross Profit was 11466.606 + 10808.134 + 17141.544 + 12771.841 = €52,188 Mil.
Total Current Assets was €0 Mil.
Total Assets was €405,022 Mil.
Property, Plant and Equipment(Net PPE) was €3,680 Mil.
Depreciation, Depletion and Amortization(DDA) was €0 Mil.
Selling, General, & Admin. Expense(SGA) was €822 Mil.
Total Current Liabilities was €0 Mil.
Long-Term Debt & Capital Lease Obligation was €2,991 Mil.
Net Income was 1260.206 + 946.37 + 2130.748 + 2204.569 = €6,542 Mil.
Non Operating Income was 129.271 + 211.827 + 116.853 + 122.315 = €580 Mil.
Cash Flow from Operations was 7688.875 + 3167.822 + 5847.924 + 6755.099 = €23,460 Mil.
 Total Receivables was €0 Mil.
Revenue was 11812.561 + 12167.472 + 14715.994 + 12634.666 = €51,331 Mil.
Gross Profit was 11812.561 + 12167.472 + 14715.994 + 12634.666 = €51,331 Mil.
Total Current Assets was €0 Mil.
Total Assets was €372,214 Mil.
Property, Plant and Equipment(Net PPE) was €3,279 Mil.
Depreciation, Depletion and Amortization(DDA) was €0 Mil.
Selling, General, & Admin. Expense(SGA) was €1,088 Mil.
Total Current Liabilities was €0 Mil.
Long-Term Debt & Capital Lease Obligation was €1,632 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)
=(0 / 52188.125) / (0 / 51330.693)
=0 / 0
=1

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)
=(51330.693 / 51330.693) / (52188.125 / 52188.125)
=1 / 1
=1

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 - (0 + 3679.711) / 405021.839) / (1 - (0 + 3278.644) / 372214.09)
=0.990915 / 0.991192
=0.9997

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
=52188.125 / 51330.693
=1.0167

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 / (0 + 3278.644)) / (0 / (0 + 3679.711))
=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

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)
=(822.445 / 52188.125) / (1088.473 / 51330.693)
=0.015759 / 0.021205
=0.7432

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)
=((2990.557 + 0) / 405021.839) / ((1632.24 + 0) / 372214.09)
=0.007384 / 0.004385
=1.6839

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
=(6541.893 - 580.266 - 23459.72) / 405021.839
=-0.043203

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.

China Pacific Insurance (Group) Co has a M-score of -2.85 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 -2.80 mean?
China Pacific Insurance (Group) Co (STU:75C) has a Beneish M-Score of -2.80 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Pacific Insurance (Group) Co and its competitors. According to the industry distribution chart, China Pacific Insurance (Group) Co ranks #87 out of 399 companies in the Insurance industry, placing it in the top 21.8%.
Is China Pacific Insurance (Group) Co's Beneish M-Score too high?
China Pacific Insurance (Group) Co's current Beneish M-Score is -2.80. Based on the distribution chart, China Pacific Insurance (Group) Co ranks #87 out of 399 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, China Pacific Insurance (Group) Co has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Pacific Insurance (Group) Co's Beneish M-Score compare to AFL and MET?
According to the Insurance industry distribution chart, China Pacific Insurance (Group) Co ranks #87 out of 399 companies for Beneish M-Score. This places China Pacific Insurance (Group) Co in the top 22% 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 China Pacific Insurance (Group) Co and its competitors. China Pacific Insurance (Group) Co's current Beneish M-Score is -2.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Pacific Insurance (Group) Co stock overvalued right now?
Based on GuruFocus' analysis, China Pacific Insurance (Group) Co (STU:75C) is currently considered Modestly Undervalued. The stock's GF Value™ is €4.12, compared to a current price of €3.18 — trading 22.8% below its estimated fair value. The current Beneish M-Score is -2.80. China Pacific Insurance (Group) Co's overall GF Score™ is 61/100. 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 China Pacific Insurance (Group) Co (STU:75C), the current Beneish M-Score is -2.80 as of Jun. 24, 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 China Pacific Insurance (Group) Co (STU:75C) Overvalued in 2026?

Based on GuruFocus' analysis, China Pacific Insurance (Group) Co stock appears to be undervalued. The current stock price of €3.18 is trading 22.8% below its estimated GF Value™ of €4.12. GuruFocus considers China Pacific Insurance (Group) Co to be Modestly Undervalued.

Key valuation signals for STU:75C:

  • Beneish M-Score: -2.80
  • GF Value™: €4.12 vs. price of €3.18 (22.8% below fair value)
  • GF Score™: 61/100

No single metric tells the full story. See the STU:75C stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

China Pacific Insurance (Group) Co Business Description

Address 1 South Zhongshan Road, Huangpu District, Shanghai, CHN, 200010
Established in 1988, China Pacific Insurance is China's third-largest life insurer and third-largest general property and casualty insurer, with headquarters in Beijing. The company strives to create an integrated financial services platform that encompasses insurance, banking, and asset management. CPIC's major shareholders are state-owned companies related to the Shanghai government.
61GF Score

Get the complete analysis for STU:75C

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

€3.18
Price
€4.12
GF Value