Great Eagle Holdings (STU:GHK) Beneish M-Score: -2.27 (As of Jun. 28, 2026)


STU:GHK Great Eagle Holdings Ltd STU:GHK
66 GF Score
Price €1.62
GF Value €2.90
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Great Eagle Holdings Beneish M-Score?

Great Eagle Holdings STU:GHK -2.99% 66 Beneish M-Score is -2.27 as of Jun. 28, 2026. GuruFocus rates STU:GHK with a GF Score™ of 66/100 and a GF Value™ of €2.90 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,684 Real Estate companies, Great Eagle Holdings ranks worse than 56.12% 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 -2.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Great Eagle Holdings's Beneish M-Score or its related term are showing as below:

STU:GHK' s Beneish M-Score Range Over the Past 10 Years
Min: -3.58   Med: -2.29   Max: -0.02
Current: -2.27

During the past 13 years, the highest Beneish M-Score of Great Eagle Holdings was -0.02. The lowest was -3.58. And the median was -2.29.

Great Eagle Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Great Eagle Holdings'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.

Great Eagle Holdings Beneish M-Score Chart

Great Eagle Holdings 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 -3.58 -2.13 -2.81 -1.36 -2.27

Great Eagle Holdings 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 -2.81 0.00 -1.36 0.00 -2.27

Great Eagle Holdings Beneish M-Score Competitor Comparison

For the Real Estate - Diversified subindustry, Great Eagle Holdings'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.

Great Eagle Holdings Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Great Eagle Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Great Eagle Holdings's Beneish M-Score falls into.


STU:GHK
66GF Score
Great Eagle Holdings Ltd STU:GHK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Great Eagle Holdings 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 Great Eagle Holdings 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 * 0.2665+0.528 * 1.9197+0.404 * 1.0394+0.892 * 1.6144+0.115 * 0.9594
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5576+4.679 * -0.091732-0.327 * 0.9475
=-2.45

* 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 €78 Mil.
Revenue was €2,158 Mil.
Gross Profit was €435 Mil.
Total Current Assets was €1,843 Mil.
Total Assets was €11,028 Mil.
Property, Plant and Equipment(Net PPE) was €2,089 Mil.
Depreciation, Depletion and Amortization(DDA) was €99 Mil.
Selling, General, & Admin. Expense(SGA) was €60 Mil.
Total Current Liabilities was €1,040 Mil.
Long-Term Debt & Capital Lease Obligation was €2,921 Mil.
Net Income was €-182 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €830 Mil.
 Total Receivables was €181 Mil.
Revenue was €1,336 Mil.
Gross Profit was €517 Mil.
Total Current Assets was €2,738 Mil.
Total Assets was €13,464 Mil.
Property, Plant and Equipment(Net PPE) was €2,390 Mil.
Depreciation, Depletion and Amortization(DDA) was €109 Mil.
Selling, General, & Admin. Expense(SGA) was €66 Mil.
Total Current Liabilities was €1,612 Mil.
Long-Term Debt & Capital Lease Obligation was €3,491 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)
=(77.769 / 2157.625) / (180.741 / 1336.482)
=0.036044 / 0.135236
=0.2665

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)
=(516.687 / 1336.482) / (434.515 / 2157.625)
=0.386602 / 0.201386
=1.9197

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 - (1842.723 + 2088.797) / 11028.385) / (1 - (2738.403 + 2389.56) / 13463.552)
=0.643509 / 0.619123
=1.0394

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
=2157.625 / 1336.482
=1.6144

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))
=(108.576 / (108.576 + 2389.56)) / (99.117 / (99.117 + 2088.797))
=0.043463 / 0.045302
=0.9594

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)
=(59.734 / 2157.625) / (66.36 / 1336.482)
=0.027685 / 0.049653
=0.5576

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)
=((2920.547 + 1040.163) / 11028.385) / ((3491.004 + 1612.146) / 13463.552)
=0.359138 / 0.379034
=0.9475

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
=(-181.576 - 0 - 830.08) / 11028.385
=-0.091732

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.

Great Eagle Holdings has a M-score of -2.45 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 -2.27 mean?
Great Eagle Holdings (STU:GHK) has a Beneish M-Score of -2.27 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Great Eagle Holdings and its competitors. According to the industry distribution chart, Great Eagle Holdings ranks #945 out of 1684 companies in the Real Estate industry, placing it in the top 56.1%.
Is Great Eagle Holdings' Beneish M-Score too high?
Great Eagle Holdings' current Beneish M-Score is -2.27. Based on the distribution chart, Great Eagle Holdings ranks #945 out of 1684 companies in the Real Estate industry, which is below the industry midpoint. Overall, Great Eagle Holdings has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Great Eagle Holdings' Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Great Eagle Holdings ranks #945 out of 1684 companies for Beneish M-Score. This places Great Eagle Holdings 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 Great Eagle Holdings and its competitors. Great Eagle Holdings's current Beneish M-Score is -2.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Great Eagle Holdings stock overvalued right now?
Based on GuruFocus' analysis, Great Eagle Holdings (STU:GHK) is currently considered Possible Value Trap. The stock's GF Value™ is €2.90, compared to a current price of €1.62 — trading 44.1% below its estimated fair value. The current Beneish M-Score is -2.27. Great Eagle Holdings' overall GF Score™ is 66/100 with 4 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 Great Eagle Holdings (STU:GHK), the current Beneish M-Score is -2.27 as of Jun. 28, 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 Great Eagle Holdings (STU:GHK) Overvalued in 2026?

Based on GuruFocus' analysis, Great Eagle Holdings stock appears to be undervalued. The current stock price of €1.62 is trading 44.1% below its estimated GF Value™ of €2.90. GuruFocus considers Great Eagle Holdings to be Possible Value Trap.

Key valuation signals for STU:GHK:

  • Beneish M-Score: -2.27
  • GF Value™: €2.90 vs. price of €1.62 (44.1% below fair value)
  • GF Score™: 66/100 with 4 warning signs

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

Great Eagle Holdings Business Description

Other Exchanges GEAHF:USA00041:Hong Kong
Address 23 Harbour Road, 33rd Floor, Great Eagle Centre, Wanchai, Hong Kong, HKG
Great Eagle Holdings Ltd is an investment holding company engaged in property development and investment, ownership and operation of hotels (including hotels under leases), operation of restaurants and flexible workspace, asset and project management, trading of building materials, securities investment, and provision of property management, property agency, and leasing services. Its segments are: Hotel operation includes hotel accommodation, food and banquet operations, and hotel management, while Property investment includes gross rental income and building management service income from leasing of furnished apartments and properties. Property development generates maximum revenue from the sale of properties held for sale. The company generates a majority of its revenue from Hong Kong.
66GF Score

Get the complete analysis for STU:GHK

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

€1.62
Price
€2.90
GF Value