EDHL (Everbright Digital Holding) Beneish M-Score: -0.33 (As of Jul. 03, 2026)


EDHL Everbright Digital Holding Ltd EDHL
22 GF Score
Price $3.98
! 5 Warning Signs
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What is Everbright Digital Holding Beneish M-Score?

Everbright Digital Holding EDHL +2.58% 22 Beneish M-Score is -0.33 as of Jul. 03, 2026. GuruFocus rates EDHL with a GF Score™ of 22/100. The stock has 5 warning signs investors should review. Among 980 Media - Diversified companies, Everbright Digital Holding ranks worse than 92.96% 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 -0.33 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Everbright Digital Holding's Beneish M-Score or its related term are showing as below:

EDHL' s Beneish M-Score Range Over the Past 10 Years
Min: -1.79   Med: -1.06   Max: -0.33
Current: -0.33

During the past 4 years, the highest Beneish M-Score of Everbright Digital Holding was -0.33. The lowest was -1.79. And the median was -1.06.

Everbright Digital Holding Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Everbright Digital Holding'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.

Everbright Digital Holding Beneish M-Score Chart

Everbright Digital Holding Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -1.79 -0.33

Everbright Digital Holding Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -1.79 0.00 -0.33

EDHL vs CRWE, TDIC, KRKR: Beneish M-Score Comparison

For the Advertising Agencies subindustry, Everbright Digital Holding'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.

Everbright Digital Holding Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Everbright Digital Holding's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Everbright Digital Holding's Beneish M-Score falls into.


EDHL
22GF Score
Everbright Digital Holding Ltd EDHL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Everbright Digital Holding 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 Everbright Digital Holding 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 * 1.9832+0.528 * 0.9013+0.404 * 6.2519+0.892 * 0.6741+0.115 * 0.4972
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 4.5506+4.679 * -0.000839-0.327 * 0.561
=-0.33

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $1.22 Mil.
Revenue was $1.86 Mil.
Gross Profit was $1.22 Mil.
Total Current Assets was $1.85 Mil.
Total Assets was $4.77 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.26 Mil.
Selling, General, & Admin. Expense(SGA) was $3.39 Mil.
Total Current Liabilities was $0.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-2.25 Mil.
Gross Profit was $0.05 Mil.
Cash Flow from Operations was $-2.30 Mil.
 Total Receivables was $0.91 Mil.
Revenue was $2.76 Mil.
Gross Profit was $1.63 Mil.
Total Current Assets was $2.27 Mil.
Total Assets was $2.62 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $1.11 Mil.
Total Current Liabilities was $0.49 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)
=(1.222 / 1.862) / (0.914 / 2.762)
=0.656284 / 0.33092
=1.9832

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)
=(1.627 / 2.762) / (1.217 / 1.862)
=0.589066 / 0.653598
=0.9013

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 - (1.846 + 0.003) / 4.766) / (1 - (2.269 + 0.09) / 2.615)
=0.612044 / 0.097897
=6.2519

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
=1.862 / 2.762
=0.6741

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))
=(0.087 / (0.087 + 0.09)) / (0.26 / (0.26 + 0.003))
=0.491525 / 0.988593
=0.4972

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)
=(3.393 / 1.862) / (1.106 / 2.762)
=1.822234 / 0.400434
=4.5506

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 + 0.5) / 4.766) / ((0 + 0.489) / 2.615)
=0.10491 / 0.186998
=0.561

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
=(-2.246 - 0.053 - -2.295) / 4.766
=-0.000839

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.

Everbright Digital Holding has a M-score of -0.33 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 -0.33 mean?
Everbright Digital Holding (EDHL) has a Beneish M-Score of -0.33 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Everbright Digital Holding and its competitors. According to the industry distribution chart, Everbright Digital Holding ranks #911 out of 980 companies in the Media - Diversified industry, placing it in the top 93%.
Is Everbright Digital Holding's Beneish M-Score too high?
Everbright Digital Holding's current Beneish M-Score is -0.33. Based on the distribution chart, Everbright Digital Holding ranks #911 out of 980 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Everbright Digital Holding has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Everbright Digital Holding's Beneish M-Score compare to CRWE and TDIC?
According to the Media - Diversified industry distribution chart, Everbright Digital Holding ranks #911 out of 980 companies for Beneish M-Score. This places Everbright Digital Holding 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Everbright Digital Holding and its competitors. Everbright Digital Holding's current Beneish M-Score is -0.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Everbright Digital Holding stock overvalued right now?
Everbright Digital Holding (EDHL) has a current Beneish M-Score of -0.33. The current Beneish M-Score is -0.33. Everbright Digital Holding's overall GF Score™ is 22/100 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 Everbright Digital Holding (EDHL), the current Beneish M-Score is -0.33 as of Jul. 03, 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.

Everbright Digital Holding Business Description

Address 108 Wai Yip Street, Unit 1A, 10th Floor, C-Bons International Centre, Kwun Tong, Hong Kong, HKG
Everbright Digital Holding Ltd is an integrated marketing solutions provider in Hong Kong that is involved in the metaverse and related technologies, and is providing one-stop digital marketing services for the process of enterprise development. Its digital marketing solutions include metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation, and social media marketing.
22GF 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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