HKPD (Cellyan Biotechnology Co) Beneish M-Score: -1.33 (As of Jul. 14, 2026)

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HKPD Cellyan Biotechnology Co Ltd HKPD
21 GF Score
Price $0.44
! 2 Warning Signs
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What is Cellyan Biotechnology Co Beneish M-Score?

Cellyan Biotechnology Co HKPD -4.33% 21 Beneish M-Score is -1.33 as of Jul. 14, 2026. GuruFocus rates HKPD with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 112 Medical Distribution companies, Cellyan Biotechnology Co ranks worse than 90.18% 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 -1.33 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Cellyan Biotechnology Co's Beneish M-Score or its related term are showing as below:

HKPD' s Beneish M-Score Range Over the Past 10 Years
Min: -1.33   Med: -1.33   Max: -1.33
Current: -1.33

During the past 3 years, the highest Beneish M-Score of Cellyan Biotechnology Co was -1.33. The lowest was -1.33. And the median was -1.33.

Cellyan Biotechnology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cellyan Biotechnology Co'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.

Cellyan Biotechnology Co Beneish M-Score Chart

Cellyan Biotechnology Co Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -1.33

Cellyan Biotechnology Co Semi-Annual Data
Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 -1.33 0.00

HKPD vs COSM, SNYR, YI: Beneish M-Score Comparison

For the Medical Distribution subindustry, Cellyan Biotechnology Co'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.

Cellyan Biotechnology Co Beneish M-Score vs Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, Cellyan Biotechnology Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cellyan Biotechnology Co's Beneish M-Score falls into.


HKPD
21GF Score
Cellyan Biotechnology Co Ltd HKPD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cellyan Biotechnology Co 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 Cellyan Biotechnology Co 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 * 1.0411+0.528 * 1.7939+0.404 * 2.8499+0.892 * 1.2173+0.115 * 0.8174
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9637+4.679 * -0.055963-0.327 * 0.9233
=-1.33

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was $4.71 Mil.
Revenue was $20.31 Mil.
Gross Profit was $2.42 Mil.
Total Current Assets was $8.73 Mil.
Total Assets was $9.42 Mil.
Property, Plant and Equipment(Net PPE) was $0.59 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.07 Mil.
Selling, General, & Admin. Expense(SGA) was $2.22 Mil.
Total Current Liabilities was $2.92 Mil.
Long-Term Debt & Capital Lease Obligation was $1.51 Mil.
Net Income was $-0.03 Mil.
Gross Profit was $-0.07 Mil.
Cash Flow from Operations was $0.57 Mil.
 Total Receivables was $3.72 Mil.
Revenue was $16.69 Mil.
Gross Profit was $3.56 Mil.
Total Current Assets was $7.80 Mil.
Total Assets was $8.67 Mil.
Property, Plant and Equipment(Net PPE) was $0.83 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.93 Mil.
Selling, General, & Admin. Expense(SGA) was $1.89 Mil.
Total Current Liabilities was $3.18 Mil.
Long-Term Debt & Capital Lease Obligation was $1.24 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)
=(4.713 / 20.314) / (3.719 / 16.688)
=0.232007 / 0.222855
=1.0411

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)
=(3.559 / 16.688) / (2.415 / 20.314)
=0.213267 / 0.118884
=1.7939

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 - (8.727 + 0.594) / 9.417) / (1 - (7.802 + 0.834) / 8.667)
=0.010194 / 0.003577
=2.8499

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
=20.314 / 16.688
=1.2173

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))
=(0.926 / (0.926 + 0.834)) / (1.073 / (1.073 + 0.594))
=0.526136 / 0.643671
=0.8174

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)
=(2.216 / 20.314) / (1.889 / 16.688)
=0.109087 / 0.113195
=0.9637

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)
=((1.51 + 2.917) / 9.417) / ((1.237 + 3.176) / 8.667)
=0.470107 / 0.509173
=0.9233

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
=(-0.027 - -0.069 - 0.569) / 9.417
=-0.055963

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.

Cellyan Biotechnology Co has a M-score of -1.33 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 -1.33 mean?
Cellyan Biotechnology Co (HKPD) has a Beneish M-Score of -1.33 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cellyan Biotechnology Co and its competitors. According to the industry distribution chart, Cellyan Biotechnology Co ranks #101 out of 112 companies in the Medical Distribution industry, placing it in the top 90.2%.
Is Cellyan Biotechnology Co's Beneish M-Score too high?
Cellyan Biotechnology Co's current Beneish M-Score is -1.33. Based on the distribution chart, Cellyan Biotechnology Co ranks #101 out of 112 companies in the Medical Distribution industry, which is in the bottom quartile relative to peers. Overall, Cellyan Biotechnology Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Cellyan Biotechnology Co's Beneish M-Score compare to COSM and SNYR?
According to the Medical Distribution industry distribution chart, Cellyan Biotechnology Co ranks #101 out of 112 companies for Beneish M-Score. This places Cellyan Biotechnology Co 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 Medical Distribution company?
A good Beneish M-Score depends on the Medical Distribution 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 Cellyan Biotechnology Co and its competitors. Cellyan Biotechnology Co's current Beneish M-Score is -1.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cellyan Biotechnology Co stock overvalued right now?
Cellyan Biotechnology Co (HKPD) has a current Beneish M-Score of -1.33. The current Beneish M-Score is -1.33. Cellyan Biotechnology Co's overall GF Score™ is 21/100 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 Cellyan Biotechnology Co (HKPD), the current Beneish M-Score is -1.33 as of Jul. 14, 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.

Cellyan Biotechnology Co Business Description

Address 13 Ko Fai Road, Room B1, 5th Floor, Well Town Industrial Building, Yau Tong, Kowloon, Hong Kong, HKG
Cellyan Biotechnology Co Ltd formerly, Hong Kong Pharma Digital Technology Holdings Ltd operates in two main categories: OTC pharmaceutical cross-border e-commerce supply chain services, conducted through its Hong Kong subsidiary, Joint Cross Border, which it refers to as the Supply Chain Services division, and OTC pharmaceutical cross-border procurement and distribution, conducted through its Hong Kong subsidiary, V-Alliance, which it referred to as the Procurement and Distribution division. Based in Hong Kong, Joint Cross Border has established itself as a provider of third-party supply chain services in Mainland China's OTC pharmaceutical cross-border e-commerce market.
21GF 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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