CFLSF (CASH Financial Services Group) Beneish M-Score: -2.68 (As of Jun. 29, 2026)

What is CASH Financial Services Group Beneish M-Score?

CASH Financial Services Group CFLSF 32 Beneish M-Score is -2.68 as of Jun. 29, 2026. GuruFocus rates CFLSF with a GF Score™ of 32/100 and a GF Value™ of $0.04. The stock has 5 warning signs investors should review. Among 704 Capital Markets companies, CASH Financial Services Group ranks better than 74.57% 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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for CASH Financial Services Group's Beneish M-Score or its related term are showing as below:

CFLSF' s Beneish M-Score Range Over the Past 10 Years
Min: -13 Med: -2.83 Max: 18.56
Current: -2.68

During the past 13 years, the highest Beneish M-Score of CASH Financial Services Group was 18.56. The lowest was -13.00. And the median was -2.83.

CASH Financial Services Group Beneish M-Score Related Terms

CASH Financial Services Group Beneish M-Score Historical Data

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The historical data trend for CASH Financial Services Group'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.

CASH Financial Services Group Beneish M-Score Chart

CASH Financial Services Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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18.56

-3.06

-1.92

-3.41

-2.68

CASH Financial Services Group 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															-1.92	0.00	-3.41	0.00	-2.68

CFLSF vs MS, GS, SCHW: Beneish M-Score Comparison

For the Capital Markets subindustry, CASH Financial Services Group'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.

CASH Financial Services Group Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, CASH Financial Services Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where CASH Financial Services Group's Beneish M-Score falls into.

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32GF Score

CASH Financial Services Group Ltd CFLSF

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

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CASH Financial Services Group 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 CASH Financial Services Group 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 * 0.8624

0.528 * 1.2996

0.404 * 0.9699

0.892 * 1.0783

0.115 * 0.7917

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1213

4.679 * -0.048018

0.327 * 1.0525

-2.68

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $28.84 Mil.
Revenue was $10.24 Mil.
Gross Profit was $2.52 Mil.
Total Current Assets was $89.79 Mil.
Total Assets was $92.74 Mil.
Property, Plant and Equipment(Net PPE) was $0.49 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.87 Mil.
Selling, General, & Admin. Expense(SGA) was $2.87 Mil.
Total Current Liabilities was $63.76 Mil.
Long-Term Debt & Capital Lease Obligation was $2.90 Mil.
Net Income was $-4.95 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-0.50 Mil.

Total Receivables was $31.01 Mil.
Revenue was $9.50 Mil.
Gross Profit was $3.04 Mil.
Total Current Assets was $88.01 Mil.
Total Assets was $91.84 Mil.
Property, Plant and Equipment(Net PPE) was $1.32 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.36 Mil.
Selling, General, & Admin. Expense(SGA) was $2.37 Mil.
Total Current Liabilities was $59.46 Mil.
Long-Term Debt & Capital Lease Obligation was $3.27 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)
	=	(28.836 / 10.243)	/	(31.008 / 9.499)
	=	2.815191	/	3.264344
	=	0.8624

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)
	=	(3.042 / 9.499)	/	(2.524 / 10.243)
	=	0.320244	/	0.246412
	=	1.2996

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 - (89.787 + 0.491) / 92.737)	/	(1 - (88.007 + 1.324) / 91.842)
	=	0.026516	/	0.02734
	=	0.9699

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
	=	10.243	/	9.499
	=	1.0783

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))
	=	(1.36 / (1.36 + 1.324))	/	(0.873 / (0.873 + 0.491))
	=	0.506706	/	0.640029
	=	0.7917

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)
	=	(2.868 / 10.243)	/	(2.372 / 9.499)
	=	0.279996	/	0.24971
	=	1.1213

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)
	=	((2.898 + 63.762) / 92.737)	/	((3.266 + 59.455) / 91.842)
	=	0.718807	/	0.682923
	=	1.0525

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
	=	(-4.952 - 0	-	-0.499)	/	92.737
	=	-0.048018

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.

CASH Financial Services Group has a M-score of -2.68 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 -2.68 mean?

CASH Financial Services Group (CFLSF) has a Beneish M-Score of -2.68 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CASH Financial Services Group and its competitors. According to the industry distribution chart, CASH Financial Services Group ranks #179 out of 704 companies in the Capital Markets industry, placing it in the top 25.4%.

Is CASH Financial Services Group's Beneish M-Score too high?

CASH Financial Services Group's current Beneish M-Score is -2.68. Based on the distribution chart, CASH Financial Services Group ranks #179 out of 704 companies in the Capital Markets industry, which is above the industry midpoint. Overall, CASH Financial Services Group has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.

How does CASH Financial Services Group's Beneish M-Score compare to MS and GS?

According to the Capital Markets industry distribution chart, CASH Financial Services Group ranks #179 out of 704 companies for Beneish M-Score. This puts CASH Financial Services Group 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 Capital Markets company?

A good Beneish M-Score depends on the Capital Markets 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 CASH Financial Services Group and its competitors. CASH Financial Services Group's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is CASH Financial Services Group stock overvalued right now?

CASH Financial Services Group (CFLSF) has a current Beneish M-Score of -2.68. The stock's GF Value™ is $0.04, compared to a current price of $0.10 — trading 150% above its estimated fair value. The current Beneish M-Score is -2.68. CASH Financial Services Group's overall GF Score™ is 32/100 with 5 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 CASH Financial Services Group (CFLSF), the current Beneish M-Score is -2.68 as of Jun. 29, 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 CASH Financial Services Group (CFLSF) Overvalued in 2026?

Based on GuruFocus' analysis, CASH Financial Services Group stock appears to be overvalued. The current stock price of $0.10 is trading 150% above its estimated GF Value™ of $0.04.

Key valuation signals for CFLSF:

Beneish M-Score: -2.68
GF Value™: $0.04 vs. price of $0.10 (150% above fair value)
GF Score™: 32/100 with 5 warning signs

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

CASH Financial Services Group Business Description

Industry Financial Services Capital Markets

Comparable Companies HKSE:08350 HKSE:02680 HKSE:06877 HKSE:08365 HKSE:00804 HKSE:02263 HKSE:00188 HKSE:01073 HKSE:00227 HKSE:00211 MS GS SCHW HOOD ASX:MQG SHSE:600030 BSP:BPAC3 SZSE:300059 SHSE:601211 IBKR

Other Exchanges 00510:Hong Kong

Address 23 Wang Tai Road, 22nd Floor, Manhattan Place, Kowloon Bay, Hong Kong, HKG

Website https://www.cfsg.com.hk

CASH Financial Services Group Ltd is engaged in the provision of online and traditional brokerage of securities, futures and options as well as general and life insurance, mutual funds and mandatory provident fund products; proprietary trading of equity securities and derivatives; provision of margin financing and money lending services; and provision of investment management services. Its segments include Financial services, and Investment management. It derives revenue from Broking services, Wealth management services, Investment management services, Handling and other services. Geographically, the company derives maximum revenue from Hong Kong, and also has its presence in the PRC.

32GF Score

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

$0.10

Price

$0.04

GF Value

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