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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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Wong's International Holdings's Beneish M-Score or its related term are showing as below:
HKSE:00099'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.33 Med: -2.59 Max: -1.73
Current: -2.9
During the past 13 years, the highest Beneish M-Score of Wong's International Holdings was -1.73. The lowest was -3.33. And the median was -2.59.
* 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.
Wong's International Holdings Beneish M-Score Chart
For the Consumer Electronics subindustry, Wong's International 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.
Wong's International Holdings Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Wong's International Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Wong's International Holdings's Beneish M-Score falls into.
Wong's International 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 Wong's International 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 * 0.8815
+
0.528 * 1.0373
+
0.404 * 0.9483
+
0.892 * 0.9495
+
0.115 * 1.2713
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0361
+
4.679 * -0.063902
-
0.327 * 0.9632
=
-2.90
* 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.
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.
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))
=
(49.874 / (49.874 + 270.471))
/
(41.875 / (41.875 + 300.05))
=
0.155688
/
0.122468
=
1.2713
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
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
=
(-165.074 - 0
-
207.568)
/
5831.506
=
-0.063902
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.
Wong's International Holdings has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.
Wong's International Holdings (HKSE:00099) has a Beneish M-Score of -2.90 as of Aug. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wong's International Holdings and its competitors. According to the industry distribution chart, Wong's International Holdings ranks #455 out of 2407 companies in the Hardware industry, placing it in the top 18.9%.
Is Wong's International Holdings' Beneish M-Score too high?
Wong's International Holdings' current Beneish M-Score is -2.90. Based on the distribution chart, Wong's International Holdings ranks #455 out of 2407 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Wong's International Holdings has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Wong's International Holdings' Beneish M-Score compare to AAPL?
According to the Hardware industry distribution chart, Wong's International Holdings ranks #455 out of 2407 companies for Beneish M-Score. This places Wong's International Holdings in the top 19% 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Wong's International Holdings and its competitors. Wong's International Holdings's current Beneish M-Score is -2.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wong's International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Wong's International Holdings (HKSE:00099) is currently considered Fairly Valued. The stock's GF Value™ is HK$1.09, compared to a current price of HK$1.15 — trading 5.5% above its estimated fair value. The current Beneish M-Score is -2.90. Wong's International Holdings' overall GF Score™ is 66/100 with 3 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 Wong's International Holdings (HKSE:00099), the current Beneish M-Score is -2.90 as of Aug. 28, 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 Wong's International Holdings (HKSE:00099) Overvalued in 2026?
Based on GuruFocus' analysis, Wong's International Holdings stock appears to be overvalued.
The current stock price of HK$1.15 is trading 5.5% above its estimated GF Value™ of HK$1.09.
GuruFocus considers Wong's International Holdings to be Fairly Valued.
Key valuation signals for HKSE:00099:
Beneish M-Score: -2.90
GF Value™: HK$1.09 vs. price of HK$1.15 (5.5% above fair value)
No single metric tells the full story. See the HKSE:00099 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wong's International Holdings Ltd is engaged in the development, manufacture, marketing and distribution of electronics products as well as property holding. The company's segments include Electronic Manufacturing Service that manufactures and distributes electronic products for EMS customers; and Property Holding which develops, sells and leases properties. The majority of the revenue is derived from the Electronic Manufacturing Service segment. Geographically, the company operates in North America, Asia (excluding Hong Kong), Europe, and Hong Kong.
66GF Score
Get the complete analysis for HKSE:00099
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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