Cocoon Holdings (HKSE:00428) Beneish M-Score: 0.00 (As of Jul. 08, 2026)


HKSE:00428 Cocoon Holdings Ltd HKSE:00428
37 GF Score
Price HK$0.22
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What is Cocoon Holdings Beneish M-Score?

Cocoon Holdings HKSE:00428 37 Beneish M-Score is 0.00 as of Jul. 08, 2026. GuruFocus rates HKSE:00428 with a GF Score™ of 37/100. Among 702 Capital Markets companies, Cocoon Holdings ranks worse than 142450% 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.

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

During the past 13 years, the highest Beneish M-Score of Cocoon Holdings was -2.60. The lowest was -6.28. And the median was -4.44.

Cocoon Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cocoon 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.

Cocoon Holdings Beneish M-Score Chart

Cocoon Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Cocoon Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

HKSE:00428 vs MS, GS, SCHW: Beneish M-Score Comparison

For the Capital Markets subindustry, Cocoon 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.

Cocoon Holdings Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Cocoon Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cocoon Holdings's Beneish M-Score falls into.


HKSE:00428
37GF Score
Cocoon Holdings Ltd HKSE:00428
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cocoon 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 Cocoon 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 HK$4.32 Mil.
Revenue was HK$24.49 Mil.
Gross Profit was HK$24.49 Mil.
Total Current Assets was HK$183.68 Mil.
Total Assets was HK$183.68 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0.00 Mil.
Total Current Liabilities was HK$5.43 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.00 Mil.
Net Income was HK$9.79 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$3.72 Mil.
 Total Receivables was HK$2.64 Mil.
Revenue was HK$6.93 Mil.
Gross Profit was HK$6.93 Mil.
Total Current Assets was HK$147.46 Mil.
Total Assets was HK$147.46 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0.00 Mil.
Total Current Liabilities was HK$17.39 Mil.
Long-Term Debt & Capital Lease Obligation was HK$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)
=(4.322 / 24.49) / (2.642 / 6.927)
=0.17648 / 0.381406
=

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)
=(6.927 / 6.927) / (24.49 / 24.49)
=1 / 1
=

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 - (183.68 + 0) / 183.68) / (1 - (147.456 + 0) / 147.456)
=0 / 0
=

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
=24.49 / 6.927
=

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 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=(0 / 24.49) / (0 / 6.927)
=0 / 0
=

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 + 5.429) / 183.68) / ((0 + 17.392) / 147.456)
=0.029557 / 0.117947
=

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
=(9.789 - 0 - 3.724) / 183.68
=0.033019

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Cocoon Holdings (HKSE:00428) has a Beneish M-Score of 0.00 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cocoon Holdings and its competitors. According to the industry distribution chart, Cocoon Holdings ranks #999999 out of 702 companies in the Capital Markets industry.
Is Cocoon Holdings' Beneish M-Score too high?
Cocoon Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, Cocoon Holdings ranks #999999 out of 702 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Cocoon Holdings has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Cocoon Holdings' Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Cocoon Holdings ranks #999999 out of 702 companies for Beneish M-Score. This places Cocoon Holdings 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Cocoon Holdings and its competitors. Cocoon Holdings's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cocoon Holdings stock overvalued right now?
Cocoon Holdings (HKSE:00428) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Cocoon Holdings' overall GF Score™ is 37/100. 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 Cocoon Holdings (HKSE:00428), the current Beneish M-Score is 0.00 as of Jul. 08, 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.

Cocoon Holdings Business Description

Address 61 Connaught Road Central, Room 14A, Fortune House, Central, Hong Kong, HKG
Cocoon Holdings Ltd is a Hong Kong-based investment holding company engaged in investment activities. The companies business activity is organized into a single operating segment, being investments in securities listed on recognized stock exchanges and unlisted investments with a potential for earnings growth and capital appreciation The companies revenue comprised dividend income, interest earned from bank deposits and loans and receivables. The group mainly operates its businesses in Hong Kong.
37GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.22
Price