YSHLF (Yangzijiang Shipbuilding (Holdings)) Beneish M-Score: -2.11 (As of Jun. 26, 2026)

What is Yangzijiang Shipbuilding (Holdings) Beneish M-Score?

Yangzijiang Shipbuilding (Holdings) YSHLF 93 Beneish M-Score is -2.11 as of Jun. 26, 2026. GuruFocus rates YSHLF with a GF Score™ of 93/100 and a GF Value™ of $2.06 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 326 Aerospace & Defense companies, Yangzijiang Shipbuilding (Holdings) ranks worse than 68.71% 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 -2.11 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Yangzijiang Shipbuilding (Holdings)'s Beneish M-Score or its related term are showing as below:

YSHLF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.43 Med: -2.58 Max: -1.92
Current: -2.11

During the past 13 years, the highest Beneish M-Score of Yangzijiang Shipbuilding (Holdings) was -1.92. The lowest was -3.43. And the median was -2.58.

Yangzijiang Shipbuilding (Holdings) Beneish M-Score Related Terms

Yangzijiang Shipbuilding (Holdings) Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Yangzijiang Shipbuilding (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.

Yangzijiang Shipbuilding (Holdings) Beneish M-Score Chart

Yangzijiang Shipbuilding (Holdings) Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.92

-2.95

-2.66

-3.43

-2.11

Yangzijiang Shipbuilding (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															-2.66	0.00	-3.43	0.00	-2.11

YSHLF vs GE, RTX, BA: Beneish M-Score Comparison

For the Aerospace & Defense subindustry, Yangzijiang Shipbuilding (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.

Yangzijiang Shipbuilding (Holdings) Beneish M-Score vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Yangzijiang Shipbuilding (Holdings)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Yangzijiang Shipbuilding (Holdings)'s Beneish M-Score falls into.

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Yangzijiang Shipbuilding (Holdings) Ltd YSHLF

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Yangzijiang Shipbuilding (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 Yangzijiang Shipbuilding (Holdings) for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9688

0.528 * 0.8371

0.404 * 1.1789

0.892 * 1.1102

0.115 * 1.0153

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1942

4.679 * 0.071528

0.327 * 0.8443

-2.07

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $944 Mil.
Revenue was $4,047 Mil.
Gross Profit was $1,386 Mil.
Total Current Assets was $6,144 Mil.
Total Assets was $8,282 Mil.
Property, Plant and Equipment(Net PPE) was $1,045 Mil.
Depreciation, Depletion and Amortization(DDA) was $75 Mil.
Selling, General, & Admin. Expense(SGA) was $124 Mil.
Total Current Liabilities was $3,484 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Net Income was $1,226 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $634 Mil.

Total Receivables was $878 Mil.
Revenue was $3,645 Mil.
Gross Profit was $1,045 Mil.
Total Current Assets was $5,789 Mil.
Total Assets was $7,493 Mil.
Property, Plant and Equipment(Net PPE) was $865 Mil.
Depreciation, Depletion and Amortization(DDA) was $63 Mil.
Selling, General, & Admin. Expense(SGA) was $94 Mil.
Total Current Liabilities was $3,418 Mil.
Long-Term Debt & Capital Lease Obligation was $316 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)
	=	(944.3 / 4047.141)	/	(877.97 / 3645.49)
	=	0.233325	/	0.240837
	=	0.9688

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)
	=	(1044.975 / 3645.49)	/	(1385.872 / 4047.141)
	=	0.286649	/	0.342432
	=	0.8371

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 - (6144.307 + 1044.572) / 8282.293)	/	(1 - (5788.649 + 865.483) / 7493.28)
	=	0.132018	/	0.111987
	=	1.1789

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
	=	4047.141	/	3645.49
	=	1.1102

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))
	=	(63.355 / (63.355 + 865.483))	/	(75.233 / (75.233 + 1044.572))
	=	0.068209	/	0.067184
	=	1.0153

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)
	=	(124.183 / 4047.141)	/	(93.669 / 3645.49)
	=	0.030684	/	0.025694
	=	1.1942

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 + 3484.27) / 8282.293)	/	((315.904 + 3417.856) / 7493.28)
	=	0.420689	/	0.498281
	=	0.8443

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
	=	(1226.3 - 0	-	633.881)	/	8282.293
	=	0.071528

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.

Yangzijiang Shipbuilding (Holdings) has a M-score of -2.07 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 -2.11 mean?

Yangzijiang Shipbuilding (Holdings) (YSHLF) has a Beneish M-Score of -2.11 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Yangzijiang Shipbuilding (Holdings) and its competitors. According to the industry distribution chart, Yangzijiang Shipbuilding (Holdings) ranks #224 out of 326 companies in the Aerospace & Defense industry, placing it in the top 68.7%.

Is Yangzijiang Shipbuilding (Holdings)'s Beneish M-Score too high?

Yangzijiang Shipbuilding (Holdings)'s current Beneish M-Score is -2.11. Based on the distribution chart, Yangzijiang Shipbuilding (Holdings) ranks #224 out of 326 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Yangzijiang Shipbuilding (Holdings) has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Yangzijiang Shipbuilding (Holdings)'s Beneish M-Score compare to GE and RTX?

According to the Aerospace & Defense industry distribution chart, Yangzijiang Shipbuilding (Holdings) ranks #224 out of 326 companies for Beneish M-Score. This places Yangzijiang Shipbuilding (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 an Aerospace & Defense company?

A good Beneish M-Score depends on the Aerospace & Defense 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 Yangzijiang Shipbuilding (Holdings) and its competitors. Yangzijiang Shipbuilding (Holdings)'s current Beneish M-Score is -2.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Yangzijiang Shipbuilding (Holdings) stock overvalued right now?

Based on GuruFocus' analysis, Yangzijiang Shipbuilding (Holdings) (YSHLF) is currently considered Modestly Overvalued. The stock's GF Value™ is $2.06, compared to a current price of $2.63 — trading 27.4% above its estimated fair value. The current Beneish M-Score is -2.11. Yangzijiang Shipbuilding (Holdings)'s overall GF Score™ is 93/100 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 Yangzijiang Shipbuilding (Holdings) (YSHLF), the current Beneish M-Score is -2.11 as of Jun. 26, 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 Yangzijiang Shipbuilding (Holdings) (YSHLF) Overvalued in 2026?

Based on GuruFocus' analysis, Yangzijiang Shipbuilding (Holdings) stock appears to be overvalued. The current stock price of $2.63 is trading 27.4% above its estimated GF Value™ of $2.06. GuruFocus considers Yangzijiang Shipbuilding (Holdings) to be Modestly Overvalued.

Key valuation signals for YSHLF:

Beneish M-Score: -2.11
GF Value™: $2.06 vs. price of $2.63 (27.4% above fair value)
GF Score™: 93/100 with 2 warning signs

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

Yangzijiang Shipbuilding (Holdings) Business Description

Industry Industrials Aerospace & Defense

Comparable Companies SGX:1MZ SGX:A04 SGX:BTM SGX:1J4 SGX:1V3 SGX:5RC SGX:S63 GE RTX BA XPAR:AIR LSE:RR.XPAR:SAF LMT HWM GD RKLB NOC LSE:BA.TDG

Other Exchanges BS6:Singapore B8O:Germany

Address No. 1 Lianyi Road, Jiangyin-Jingjiang Industry Zone, Jiangsu Province, Jingjiang, CHN, 214532

Website https://www.yzjship.com

Yangzijiang Shipbuilding (Holdings) Ltd is a large conglomerate, with shipbuilding and offshore engineering as its core focus. The reportable segments of the company comprise Shipbuilding, Shipping and others. The majority of revenue gets derived from the Shipbuilding segment that of shipbuilding and offshore marine equipment construction. The principal activities of the shipping segment consist of charter hire income earned by vessel owning companies. Geographically, it generates revenue from Italy.

93GF Score

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

$2.63

Price

$2.06

GF Value

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