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Luen Thai HoldingsHKSE:00311 43 Beneish M-Score is -2.87 as of Jul. 30, 2026. GuruFocus rates HKSE:00311 with a GF Score™ of 43/100 and a GF Value™ of HK$0.19 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 999 Manufacturing - Apparel & Accessories companies, Luen Thai Holdings ranks better than 74.27% 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 -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Luen Thai Holdings's Beneish M-Score or its related term are showing as below:
HKSE:00311'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.33 Med: -2.48 Max: -2.07
Current: -2.87
During the past 13 years, the highest Beneish M-Score of Luen Thai Holdings was -2.07. The lowest was -3.33. And the median was -2.48.
Luen Thai Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Luen Thai 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.
HKSE:00311 vs RL, LEVI, VFC: Beneish M-Score Comparison
For the Apparel Manufacturing subindustry, Luen Thai 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.
Luen Thai Holdings Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Luen Thai Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Luen Thai Holdings'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 Luen Thai 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 * 1.0421
+
0.528 * 0.746
+
0.404 * 1.0145
+
0.892 * 0.9454
+
0.115 * 1.1394
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0358
+
4.679 * -0.058705
-
0.327 * 0.9707
=
-2.87
* 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))
=
(155.46 / (155.46 + 822.884))
/
(123.971 / (123.971 + 764.938))
=
0.158901
/
0.139464
=
1.1394
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
=
(35.13 - 0
-
232.117)
/
3355.563
=
-0.058705
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.
Luen Thai Holdings has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.
Luen Thai Holdings (HKSE:00311) has a Beneish M-Score of -2.87 as of Jul. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Luen Thai Holdings and its competitors. According to the industry distribution chart, Luen Thai Holdings ranks #257 out of 999 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 25.7%.
Is Luen Thai Holdings' Beneish M-Score too high?
Luen Thai Holdings' current Beneish M-Score is -2.87. Based on the distribution chart, Luen Thai Holdings ranks #257 out of 999 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Luen Thai Holdings has a GF Score™ of 43/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Luen Thai Holdings' Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Luen Thai Holdings ranks #257 out of 999 companies for Beneish M-Score. This puts Luen Thai Holdings in the upper 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Luen Thai Holdings and its competitors. Luen Thai Holdings's current Beneish M-Score is -2.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Luen Thai Holdings stock overvalued right now?
Based on GuruFocus' analysis, Luen Thai Holdings (HKSE:00311) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.19, compared to a current price of HK$0.23 — trading 22.6% above its estimated fair value. The current Beneish M-Score is -2.87. Luen Thai Holdings' overall GF Score™ is 43/100 with 4 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 Luen Thai Holdings (HKSE:00311), the current Beneish M-Score is -2.87 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.
Is Luen Thai Holdings (HKSE:00311) Overvalued in 2026?
Based on GuruFocus' analysis, Luen Thai Holdings stock appears to be overvalued.
The current stock price of HK$0.23 is trading 22.6% above its estimated GF Value™ of HK$0.19.
GuruFocus considers Luen Thai Holdings to be Modestly Overvalued.
Key valuation signals for HKSE:00311:
Beneish M-Score: -2.87
GF Value™: HK$0.19 vs. price of HK$0.23 (22.6% above fair value)
No single metric tells the full story. See the HKSE:00311 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Luen Thai Holdings Ltd principally engaged in the manufacturing and trading of apparels and accessories. The Group has manufacturing plants in the People's Republic of China, Cambodia, the Philippines and Myanmar. The company has two operating segments, Apparel and Accessories. The company generates the majority of its revenue from the Apparel segment. The company has presence in United States, PRC (including Hong Kong and Macao), Europe (including the United Kingdom and Germany), South America (including Mexico and Chile), Canada, Japan, and Others. The company generates majority of revenue from United States.
43GF Score
Get the complete analysis for HKSE:00311
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