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New TimesHKSE:00166 -8.57% Beneish M-Score is -4.28 as of Jul. 30, 2026. The stock has 2 warning signs investors should review. Among 677 Metals & Mining companies, New Times ranks better than 95.13% 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 -4.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for New Times's Beneish M-Score or its related term are showing as below:
HKSE:00166'
s Beneish M-Score Range Over the Past 10 Years
Min: -12.62 Med: -1.87 Max: 19.73
Current: -4.28
During the past 13 years, the highest Beneish M-Score of New Times was 19.73. The lowest was -12.62. And the median was -1.87.
New Times Beneish M-Score Related Terms
New Times Beneish M-Score Historical Data
* Premium members only.
The historical data trend for New Times'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.
For the Other Industrial Metals & Mining subindustry, New Times'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.
New Times Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, New Times's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where New Times's Beneish M-Score falls into.
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 New Times 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 * 0.7217
+
0.528 * 2.0057
+
0.404 * 1.1564
+
0.892 * 1.3735
+
0.115 * 1.3167
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7822
+
4.679 * -0.546838
-
0.327 * 0.9559
=
-4.28
* 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))
=
(124.1 / (124.1 + 336))
/
(66.8 / (66.8 + 259.3))
=
0.269724
/
0.204845
=
1.3167
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
=
(-777.3 - 0
-
-65.7)
/
1301.3
=
-0.546838
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.
New Times has a M-score of -4.28 suggests that the company is unlikely to be a manipulator.
New Times (HKSE:00166) has a Beneish M-Score of -4.28 as of Jul. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on New Times and its competitors. According to the industry distribution chart, New Times ranks #33 out of 677 companies in the Metals & Mining industry, placing it in the top 4.9%.
Is New Times' Beneish M-Score too high?
New Times' current Beneish M-Score is -4.28. Based on the distribution chart, New Times ranks #33 out of 677 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers.
How does New Times' Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, New Times ranks #33 out of 677 companies for Beneish M-Score. This places New Times in the top 5% 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 New Times and its competitors. New Times's current Beneish M-Score is -4.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Times stock overvalued right now?
Based on GuruFocus' analysis, New Times (HKSE:00166) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$0.05, compared to a current price of HK$0.03 — trading 36% below its estimated fair value. The current Beneish M-Score is -4.28. 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 New Times (HKSE:00166), the current Beneish M-Score is -4.28 as of Jul. 30, 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.
New Times Corp Ltd is an investment holding company. The company operates its business through two segments. The Energy upstream and industrial park development, and the Precious metals refinery and trading segment. The company generates maximum revenue from the Precious metals refinery and trading segment, which includes trading and refinery of precious metals in Hong Kong.. The Energy upstream and industrial park development segment is engaged in the exploration, exploitation and sale of oil and gas products in Western Canada and Argentina, as well as the development of a new energy industrial park with an ecosystem which is self-sustaining in Campbell River, Canada. Geographically, Hong Kong accounts for the majority of its revenue.
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