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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Aluminum of China's Beneish M-Score or its related term are showing as below:
WBO:AOC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.82 Max: -2.35
Current: -2.81
During the past 13 years, the highest Beneish M-Score of Aluminum of China was -2.35. The lowest was -3.52. And the median was -2.82.
Aluminum of China Beneish M-Score Related Terms
Aluminum of China Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Aluminum of China'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.
WBO:AOC vs AA, CENX, CSTM: Beneish M-Score Comparison
For the Aluminum subindustry, Aluminum of China'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.
Aluminum of China Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Aluminum of China's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aluminum of China's Beneish M-Score falls into.
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 Aluminum of China 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 * 1.3195
+
0.528 * 0.7761
+
0.404 * 0.9784
+
0.892 * 0.9464
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1227
+
4.679 * -0.099872
-
0.327 * 0.8867
=
-2.81
* 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))
=
(0 / (0 + 14600.762))
/
(0 / (0 + 13968.285))
=
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
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
=
(1793.728 - 0
-
4718.11)
/
29281.422
=
-0.099872
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.
Aluminum of China has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
Aluminum of China (WBO:AOC) has a Beneish M-Score of -2.81 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aluminum of China and its competitors. According to the industry distribution chart, Aluminum of China ranks #174 out of 685 companies in the Metals & Mining industry, placing it in the top 25.4%.
Is Aluminum of China's Beneish M-Score too high?
Aluminum of China's current Beneish M-Score is -2.81. Based on the distribution chart, Aluminum of China ranks #174 out of 685 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Aluminum of China has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Aluminum of China's Beneish M-Score compare to AA and CENX?
According to the Metals & Mining industry distribution chart, Aluminum of China ranks #174 out of 685 companies for Beneish M-Score. This puts Aluminum of China in the upper 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Aluminum of China and its competitors. Aluminum of China's current Beneish M-Score is -2.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aluminum of China stock overvalued right now?
Aluminum of China (WBO:AOC) has a current Beneish M-Score of -2.81. The stock's GF Value™ is €0.83, compared to a current price of €0.90 — trading 8% above its estimated fair value. The current Beneish M-Score is -2.81. Aluminum of China's overall GF Score™ is 81/100 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 Aluminum of China (WBO:AOC), the current Beneish M-Score is -2.81 as of Jun. 25, 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 Aluminum of China (WBO:AOC) Overvalued in 2026?
Based on GuruFocus' analysis, Aluminum of China stock appears to be overvalued.
The current stock price of €0.90 is trading 8% above its estimated GF Value™ of €0.83.
Key valuation signals for WBO:AOC:
Beneish M-Score: -2.81
GF Value™: €0.83 vs. price of €0.90 (8% above fair value)
No single metric tells the full story. See the WBO:AOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aluminum Corp of China Ltd is an aluminum producer. Its main business includes exploration and mining of resources such as bauxite and coal, production, sales, technology research and development of alumina, primary aluminum, aluminum alloys, and carbon products, international trade, logistics industry, thermal and new energy power generation, etc. The company's reportable operating segments are: the alumina segment, the primary aluminum segment, the energy segment, the marketing segment, and the corporate and other segment. The majority of its revenue is generated from the primary aluminum segment, which consists of procuring alumina and other raw materials, supplemental materials, and electricity power, and smelting alumina to produce primary aluminum.
81GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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