CHFHF (China Art Financial Holdings) Beneish M-Score: 0.49 (As of Jun. 24, 2026)

What is China Art Financial Holdings Beneish M-Score?

China Art Financial Holdings CHFHF 48 Beneish M-Score is 0.49 as of Jun. 24, 2026. GuruFocus rates CHFHF with a GF Score™ of 48/100 and a GF Value™ of $0.03. The stock has 6 warning signs investors should review. Among 483 Credit Services companies, China Art Financial Holdings ranks worse than 85.92% 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.

Warning Sign:

Beneish M-Score 0.49 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for China Art Financial Holdings's Beneish M-Score or its related term are showing as below:

CHFHF' s Beneish M-Score Range Over the Past 10 Years
Min: -10.97 Med: -1.7 Max: 0.6
Current: 0.49

During the past 13 years, the highest Beneish M-Score of China Art Financial Holdings was 0.60. The lowest was -10.97. And the median was -1.70.

China Art Financial Holdings Beneish M-Score Related Terms

China Art Financial Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for China Art Financial 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.

China Art Financial Holdings Beneish M-Score Chart

China Art Financial Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-0.51

-1.36

-10.97

-2.21

0.49

China Art Financial 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															-10.97	0.00	-2.21	0.00	0.49

CHFHF vs V, MA, AXP: Beneish M-Score Comparison

For the Credit Services subindustry, China Art Financial 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.

China Art Financial Holdings Beneish M-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, China Art Financial Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where China Art Financial Holdings's Beneish M-Score falls into.

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48GF Score

China Art Financial Holdings Ltd CHFHF

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

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China Art Financial 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 China Art Financial 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 * 0.5963

0.528 * 2.7213

0.404 * 1.1123

0.892 * 1.9365

0.115 * 0.9527

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5125

4.679 * 0.348894

0.327 * 1.4846

0.49

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $70.94 Mil.
Revenue was $18.98 Mil.
Gross Profit was $1.72 Mil.
Total Current Assets was $162.56 Mil.
Total Assets was $162.89 Mil.
Property, Plant and Equipment(Net PPE) was $0.15 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.14 Mil.
Selling, General, & Admin. Expense(SGA) was $0.40 Mil.
Total Current Liabilities was $5.26 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-0.07 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-56.90 Mil.

Total Receivables was $61.43 Mil.
Revenue was $9.80 Mil.
Gross Profit was $2.42 Mil.
Total Current Assets was $155.63 Mil.
Total Assets was $155.92 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.11 Mil.
Selling, General, & Admin. Expense(SGA) was $0.40 Mil.
Total Current Liabilities was $3.39 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(70.936 / 18.976)	/	(61.432 / 9.799)
	=	3.738196	/	6.269211
	=	0.5963

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)
	=	(2.417 / 9.799)	/	(1.72 / 18.976)
	=	0.246658	/	0.090641
	=	2.7213

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 - (162.557 + 0.15) / 162.886)	/	(1 - (155.634 + 0.128) / 155.916)
	=	0.001099	/	0.000988
	=	1.1123

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
	=	18.976	/	9.799
	=	1.9365

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))
	=	(0.109 / (0.109 + 0.128))	/	(0.14 / (0.14 + 0.15))
	=	0.459916	/	0.482759
	=	0.9527

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)
	=	(0.396 / 18.976)	/	(0.399 / 9.799)
	=	0.020868	/	0.040718
	=	0.5125

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 + 5.264) / 162.886)	/	((0 + 3.394) / 155.916)
	=	0.032317	/	0.021768
	=	1.4846

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
	=	(-0.069 - 0	-	-56.899)	/	162.886
	=	0.348894

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.

China Art Financial Holdings has a M-score of 0.49 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.49 mean?

China Art Financial Holdings (CHFHF) has a Beneish M-Score of 0.49 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Art Financial Holdings and its competitors. According to the industry distribution chart, China Art Financial Holdings ranks #415 out of 483 companies in the Credit Services industry, placing it in the top 85.9%.

Is China Art Financial Holdings' Beneish M-Score too high?

China Art Financial Holdings' current Beneish M-Score is 0.49. Based on the distribution chart, China Art Financial Holdings ranks #415 out of 483 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, China Art Financial Holdings has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.

How does China Art Financial Holdings' Beneish M-Score compare to V and MA?

According to the Credit Services industry distribution chart, China Art Financial Holdings ranks #415 out of 483 companies for Beneish M-Score. This places China Art Financial 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 Credit Services company?

A good Beneish M-Score depends on the Credit Services 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 China Art Financial Holdings and its competitors. China Art Financial Holdings's current Beneish M-Score is 0.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is China Art Financial Holdings stock overvalued right now?

China Art Financial Holdings (CHFHF) has a current Beneish M-Score of 0.49. The stock's GF Value™ is $0.03, compared to a current price of $0.01 — trading 61% below its estimated fair value. The current Beneish M-Score is 0.49. China Art Financial Holdings' overall GF Score™ is 48/100 with 6 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 China Art Financial Holdings (CHFHF), the current Beneish M-Score is 0.49 as of Jun. 24, 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 China Art Financial Holdings (CHFHF) Overvalued in 2026?

Based on GuruFocus' analysis, China Art Financial Holdings stock appears to be undervalued. The current stock price of $0.01 is trading 61% below its estimated GF Value™ of $0.03.

Key valuation signals for CHFHF:

Beneish M-Score: 0.49
GF Value™: $0.03 vs. price of $0.01 (61% below fair value)
GF Score™: 48/100 with 6 warning signs

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

China Art Financial Holdings Business Description

Industry Financial Services Credit Services

Comparable Companies HKSE:00605 HKSE:08452 HKSE:00767 HKSE:03963 HKSE:00736 HKSE:08021 HKSE:08019 HKSE:08057 HKSE:01543 HKSE:08621 V MA AXP COF BOM:500034 PYPL AFRM SYF NSE:SHRIRAMFIN SOFI

Other Exchanges 01572:Hong Kong

Address No. 200 Jiefang East Road, Yicheng Street, Jiangsu Province, Yixing City, CHN

Website http://www.cnartfin.com.hk

China Art Financial Holdings Ltd is an art finance service provider in China. It is engaged in operating art financing channels. The operating business segments of the company are Art and asset pawn business; Art and asset auction business, and Art and asset sales business. It derives maximum revenue from Art and asset sales business. The company auctions products like Zisha artwork, Calligraphies and paintings, Jewel artwork, and others. Geographically, the company has a business presence in China and Hong Kong, of which a majority of the revenue is derived from China. The group's revenue is principally derived from the PRC.

48GF Score

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

$0.01

Price

$0.03

GF Value

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