CAOHF (FDG Electric Vehicles) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


CAOHF FDG Electric Vehicles Ltd CAOHF
12 GF Score
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What is FDG Electric Vehicles Beneish M-Score?

FDG Electric Vehicles CAOHF 12 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates CAOHF with a GF Score™ of 12/100.

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.

The historical rank and industry rank for FDG Electric Vehicles's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of FDG Electric Vehicles was 0.00. The lowest was 0.00. And the median was 0.00.

FDG Electric Vehicles Beneish M-Score Historical Data

* Premium members only.

The historical data trend for FDG Electric Vehicles'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.

FDG Electric Vehicles Beneish M-Score Chart

FDG Electric Vehicles Annual Data
Trend Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.09 -2.38 1.62 -2.10 -4.54

FDG Electric Vehicles Semi-Annual Data
Mar10 Sep10 Mar11 Sep11 Mar12 Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19
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 0.00 -2.10 0.00 -4.54 0.00

CAOHF vs APTV: Beneish M-Score Comparison

For the Auto Parts subindustry, FDG Electric Vehicles'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.

FDG Electric Vehicles Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, FDG Electric Vehicles's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where FDG Electric Vehicles's Beneish M-Score falls into.


CAOHF
12GF Score
FDG Electric Vehicles Ltd CAOHF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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FDG Electric Vehicles 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 FDG Electric Vehicles 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 * 1.3291+0.528 * 1.516+0.404 * 1.0926+0.892 * 0.3591+0.115 * 1.0499
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.8389+4.679 * -0.251768-0.327 * 1.3824
=-3.88

* 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 (Mar19) TTM:Last Year (Mar18) TTM:
Total Receivables was $157.34 Mil.
Revenue was $44.03 Mil.
Gross Profit was $3.40 Mil.
Total Current Assets was $324.39 Mil.
Total Assets was $938.37 Mil.
Property, Plant and Equipment(Net PPE) was $372.31 Mil.
Depreciation, Depletion and Amortization(DDA) was $39.86 Mil.
Selling, General, & Admin. Expense(SGA) was $57.07 Mil.
Total Current Liabilities was $561.76 Mil.
Long-Term Debt & Capital Lease Obligation was $319.51 Mil.
Net Income was $-253.49 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-17.24 Mil.
 Total Receivables was $329.69 Mil.
Revenue was $122.63 Mil.
Gross Profit was $14.36 Mil.
Total Current Assets was $540.52 Mil.
Total Assets was $1,357.72 Mil.
Property, Plant and Equipment(Net PPE) was $497.14 Mil.
Depreciation, Depletion and Amortization(DDA) was $56.18 Mil.
Selling, General, & Admin. Expense(SGA) was $86.43 Mil.
Total Current Liabilities was $537.74 Mil.
Long-Term Debt & Capital Lease Obligation was $384.63 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)
=(157.337 / 44.031) / (329.687 / 122.631)
=3.573323 / 2.688447
=1.3291

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)
=(14.364 / 122.631) / (3.402 / 44.031)
=0.117132 / 0.077264
=1.516

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 - (324.391 + 372.307) / 938.374) / (1 - (540.523 + 497.144) / 1357.72)
=0.257548 / 0.235728
=1.0926

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
=44.031 / 122.631
=0.3591

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))
=(56.184 / (56.184 + 497.144)) / (39.861 / (39.861 + 372.307))
=0.101538 / 0.096711
=1.0499

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)
=(57.067 / 44.031) / (86.433 / 122.631)
=1.296064 / 0.704822
=1.8389

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)
=((319.51 + 561.755) / 938.374) / ((384.633 + 537.744) / 1357.72)
=0.93914 / 0.679357
=1.3824

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
=(-253.492 - 0 - -17.239) / 938.374
=-0.251768

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.

FDG Electric Vehicles has a M-score of -3.88 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 0.00 mean?
FDG Electric Vehicles (CAOHF) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FDG Electric Vehicles and its competitors.
Is FDG Electric Vehicles' Beneish M-Score too high?
FDG Electric Vehicles' current Beneish M-Score is 0.00. Overall, FDG Electric Vehicles has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does FDG Electric Vehicles' Beneish M-Score compare to APTV?
FDG Electric Vehicles' Beneish M-Score of 0.00 can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 FDG Electric Vehicles and its competitors. FDG Electric Vehicles's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FDG Electric Vehicles stock overvalued right now?
FDG Electric Vehicles (CAOHF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. FDG Electric Vehicles' overall GF Score™ is 12/100. 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 FDG Electric Vehicles (CAOHF), the current Beneish M-Score is 0.00 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.

FDG Electric Vehicles Business Description

Address 26 Harbour Road, Rooms 3001-3005, 30th Floor, China Resources Building, Wanchai, Hong Kong, HKG
FDG Electric Vehicles Ltd is a Hong Kong-based investment holding company principally engaged in the production and distribution of new energy electric vehicles and their core components. The group is principally engaged in research and development, production and sale of lithium-ion batteries and related products. In addition, it is also engaged in vehicle design, manufacture and sale of electric vehicles, leasing of electric vehicles. The company derives the majority of its revenue from selling lithium-ion batteries in China.
12GF 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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