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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 -2.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Shenzhen International Holdings's Beneish M-Score or its related term are showing as below:
SZIHF'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.9 Med: -2.38 Max: -1.01
Current: -2.19
During the past 13 years, the highest Beneish M-Score of Shenzhen International Holdings was -1.01. The lowest was -2.90. And the median was -2.38.
* 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.
Shenzhen International Holdings Beneish M-Score Chart
Shenzhen International Holdings Beneish M-Score Competitor Comparison
For the Infrastructure Operations subindustry, Shenzhen International 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.
Shenzhen International Holdings Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Shenzhen International Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shenzhen International Holdings's Beneish M-Score falls into.
Shenzhen International 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 Shenzhen International 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 * 1.2814
+
0.528 * 1.0867
+
0.404 * 0.931
+
0.892 * 1.0488
+
0.115 * 1.0737
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8498
+
4.679 * -0.014872
-
0.327 * 0.9808
=
-2.19
* 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.
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.
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))
=
(424.488 / (424.488 + 3062.044))
/
(450.984 / (450.984 + 3526.244))
=
0.121751
/
0.113392
=
1.0737
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
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
=
(289.103 - 0
-
580.257)
/
19577.429
=
-0.014872
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.
Shenzhen International Holdings has a M-score of -2.19 suggests that the company is unlikely to be a manipulator.
Shenzhen International Holdings (SZIHF) has a Beneish M-Score of -2.19 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shenzhen International Holdings and its competitors. According to the industry distribution chart, Shenzhen International Holdings ranks #1162 out of 1705 companies in the Construction industry, placing it in the top 68.2%.
Is Shenzhen International Holdings' Beneish M-Score too high?
Shenzhen International Holdings' current Beneish M-Score is -2.19. Based on the distribution chart, Shenzhen International Holdings ranks #1162 out of 1705 companies in the Construction industry, which is below the industry midpoint. Overall, Shenzhen International Holdings has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Shenzhen International Holdings' Beneish M-Score compare to competitors?
According to the Construction industry distribution chart, Shenzhen International Holdings ranks #1162 out of 1705 companies for Beneish M-Score. This places Shenzhen International 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Shenzhen International Holdings and its competitors. Shenzhen International Holdings's current Beneish M-Score is -2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shenzhen International Holdings stock overvalued right now?
Shenzhen International Holdings (SZIHF) has a current Beneish M-Score of -2.19. The stock's GF Value™ is $1.30, compared to a current price of $0.90 — trading 30.8% below its estimated fair value. The current Beneish M-Score is -2.19. Shenzhen International Holdings' overall GF Score™ is 81/100 with 8 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 Shenzhen International Holdings (SZIHF), the current Beneish M-Score is -2.19 as of Aug. 20, 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 Shenzhen International Holdings (SZIHF) Overvalued in 2026?
Based on GuruFocus' analysis, Shenzhen International Holdings stock appears to be undervalued.
The current stock price of $0.90 is trading 30.8% below its estimated GF Value™ of $1.30.
Key valuation signals for SZIHF:
Beneish M-Score: -2.19
GF Value™: $1.30 vs. price of $0.90 (30.8% below fair value)
No single metric tells the full story. See the SZIHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shenzhen International Holdings Ltd is a Chinese investment company that constructs and operates logistics infrastructure facilities. The company operates through two main segments: Toll roads, general environmental protection business, and Logistics business. Toll roads contribute the vast majority of revenue, and develop, operate, and manage toll roads. The logistics business constructs, operates, and manages logistics centers and integrated logistics hubs; provides third party logistic services, logistics information services, and financial services to customers; and offers port and related services.
81GF Score
Get the complete analysis for SZIHF
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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