CHKHF (Chi Kan Holdings) Beneish M-Score: -3.49 (As of Jun. 26, 2026)


What is Chi Kan Holdings Beneish M-Score?

Chi Kan Holdings CHKHF 62 Beneish M-Score is -3.49 as of Jun. 26, 2026. GuruFocus rates CHKHF with a GF Score™ of 62/100. The stock has 2 warning signs investors should review. Among 1,704 Construction companies, Chi Kan Holdings ranks better than 92.25% 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 -3.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHKHF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.49   Med: -2.31   Max: 7.02
Current: -3.49

During the past 8 years, the highest Beneish M-Score of Chi Kan Holdings was 7.02. The lowest was -3.49. And the median was -2.31.

Chi Kan Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Chi Kan 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.

Chi Kan Holdings Beneish M-Score Chart

Chi Kan Holdings Annual Data
Trend Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
Get a 7-Day Free Trial -2.31 7.02 -2.68 -1.81 -3.49

Chi Kan Holdings Semi-Annual Data
Mar18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
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 0.00 -1.81 0.00 -3.49 0.00

CHKHF vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Chi Kan 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.

Chi Kan Holdings Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Chi Kan Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Chi Kan Holdings's Beneish M-Score falls into.


Chi Kan 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 Chi Kan Holdings 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 * 0.9379+0.528 * 0.6212+0.404 * 0.033+0.892 * 0.9252+0.115 * 0.6665
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7977+4.679 * -0.060301-0.327 * 0.4939
=-3.49

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was $34.35 Mil.
Revenue was $181.99 Mil.
Gross Profit was $46.85 Mil.
Total Current Assets was $68.48 Mil.
Total Assets was $68.72 Mil.
Property, Plant and Equipment(Net PPE) was $0.24 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $37.41 Mil.
Total Current Liabilities was $7.75 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Net Income was $-0.99 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $3.16 Mil.
 Total Receivables was $39.59 Mil.
Revenue was $196.71 Mil.
Gross Profit was $31.46 Mil.
Total Current Assets was $78.92 Mil.
Total Assets was $79.54 Mil.
Property, Plant and Equipment(Net PPE) was $0.37 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.17 Mil.
Selling, General, & Admin. Expense(SGA) was $22.49 Mil.
Total Current Liabilities was $18.13 Mil.
Long-Term Debt & Capital Lease Obligation was $0.11 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)
=(34.352 / 181.987) / (39.588 / 196.709)
=0.188761 / 0.201252
=0.9379

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)
=(31.458 / 196.709) / (46.851 / 181.987)
=0.159922 / 0.257441
=0.6212

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 - (68.478 + 0.237) / 68.722) / (1 - (78.923 + 0.371) / 79.54)
=0.000102 / 0.003093
=0.033

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
=181.987 / 196.709
=0.9252

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))
=(0.171 / (0.171 + 0.371)) / (0.213 / (0.213 + 0.237))
=0.315498 / 0.473333
=0.6665

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)
=(37.409 / 181.987) / (22.493 / 196.709)
=0.205559 / 0.114347
=1.7977

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)
=((0.031 + 7.754) / 68.722) / ((0.111 + 18.134) / 79.54)
=0.113283 / 0.229381
=0.4939

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
=(-0.989 - 0 - 3.155) / 68.722
=-0.060301

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.

Chi Kan Holdings has a M-score of -3.49 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 -3.49 mean?
Chi Kan Holdings (CHKHF) has a Beneish M-Score of -3.49 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chi Kan Holdings and its competitors. According to the industry distribution chart, Chi Kan Holdings ranks #132 out of 1704 companies in the Construction industry, placing it in the top 7.7%.
Is Chi Kan Holdings' Beneish M-Score too high?
Chi Kan Holdings' current Beneish M-Score is -3.49. Based on the distribution chart, Chi Kan Holdings ranks #132 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Chi Kan Holdings has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does Chi Kan Holdings' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Chi Kan Holdings ranks #132 out of 1704 companies for Beneish M-Score. This places Chi Kan Holdings in the top 8% of its industry — outperforming the majority of peers. 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Chi Kan Holdings and its competitors. Chi Kan Holdings's current Beneish M-Score is -3.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chi Kan Holdings stock overvalued right now?
Chi Kan Holdings (CHKHF) has a current Beneish M-Score of -3.49. The current Beneish M-Score is -3.49. Chi Kan Holdings' overall GF Score™ is 62/100 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 Chi Kan Holdings (CHKHF), the current Beneish M-Score is -3.49 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.

Chi Kan Holdings Business Description

Other Exchanges 09913:Hong Kong
Address 650 Cheung Sha Wan Road, Rooms 1008 and 1009, 10th Floor, China Shipbuilding Tower, Kowloon, Hong Kong, HKG
Chi Kan Holdings Ltd is a formwork contractor, mainly engaged in the provision of formwork services. The company is principally engaged in the business of providing formwork services and other construction services in Hong Kong. The company's services include conventional formwork which is built on-site by mainly using timber and plywood; and prefabricated formwork which is built out of prefabricated modules by mainly using aluminum and steel. It also engages in the E-commerce business in the People's Republic of China which includes online trading of products. The company's operating segments are; Construction business which generates maximum revenue; and the E-commerce business. Geographically, it derives key revenue from Hong Kong.