Futong Technology Development Holdings (HKSE:00465) Beneish M-Score: -2.73 (As of Jul. 08, 2026)


HKSE:00465 Futong Technology Development Holdings Ltd HKSE:00465
26 GF Score
Price HK$3.71
GF Value HK$0.21
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Futong Technology Development Holdings Beneish M-Score?

Futong Technology Development Holdings HKSE:00465 -1.85% 26 Beneish M-Score is -2.73 as of Jul. 08, 2026. GuruFocus rates HKSE:00465 with a GF Score™ of 26/100 and a GF Value™ of HK$0.21 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,625 Software companies, Futong Technology Development Holdings ranks better than 63.47% 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 -2.73 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:00465' s Beneish M-Score Range Over the Past 10 Years
Min: -5.67   Med: -2.92   Max: -1.22
Current: -2.73

During the past 13 years, the highest Beneish M-Score of Futong Technology Development Holdings was -1.22. The lowest was -5.67. And the median was -2.92.

Futong Technology Development Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Futong Technology Development 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.

Futong Technology Development Holdings Beneish M-Score Chart

Futong Technology Development 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 -2.64 -1.22 -5.09 -2.91 -2.73

Futong Technology Development 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 -5.09 0.00 -2.91 0.00 -2.73

HKSE:00465 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Futong Technology Development 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.

Futong Technology Development Holdings Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Futong Technology Development Holdings's Beneish M-Score distribution charts can be found below:

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


HKSE:00465
26GF Score
Futong Technology Development Holdings Ltd HKSE:00465
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Futong Technology Development 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 Futong Technology Development 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 * 1.4277+0.528 * 0.8822+0.404 * 0.8434+0.892 * 0.8561+0.115 * 1.0715
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9789+4.679 * -0.068761-0.327 * 1.2534
=-2.73

* 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$29.1 Mil.
Revenue was HK$137.6 Mil.
Gross Profit was HK$16.2 Mil.
Total Current Assets was HK$213.2 Mil.
Total Assets was HK$263.3 Mil.
Property, Plant and Equipment(Net PPE) was HK$21.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$15.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$60.3 Mil.
Total Current Liabilities was HK$60.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.6 Mil.
Net Income was HK$-73.5 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-55.4 Mil.
 Total Receivables was HK$23.8 Mil.
Revenue was HK$160.7 Mil.
Gross Profit was HK$16.7 Mil.
Total Current Assets was HK$264.7 Mil.
Total Assets was HK$327.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$20.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$17.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$71.9 Mil.
Total Current Liabilities was HK$60.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.4 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)
=(29.062 / 137.606) / (23.777 / 160.734)
=0.211197 / 0.147928
=1.4277

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)
=(16.695 / 160.734) / (16.202 / 137.606)
=0.103867 / 0.117742
=0.8822

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 - (213.22 + 21.842) / 263.331) / (1 - (264.71 + 20.716) / 327.058)
=0.107352 / 0.127292
=0.8434

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
=137.606 / 160.734
=0.8561

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))
=(16.981 / (16.981 + 20.716)) / (15.842 / (15.842 + 21.842))
=0.45046 / 0.420391
=1.0715

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)
=(60.277 / 137.606) / (71.926 / 160.734)
=0.43804 / 0.447485
=0.9789

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)
=((1.641 + 60.29) / 263.331) / ((0.425 + 60.943) / 327.058)
=0.235183 / 0.187636
=1.2534

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
=(-73.516 - 0 - -55.409) / 263.331
=-0.068761

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.

Futong Technology Development Holdings has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.73 mean?
Futong Technology Development Holdings (HKSE:00465) has a Beneish M-Score of -2.73 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Futong Technology Development Holdings and its competitors. According to the industry distribution chart, Futong Technology Development Holdings ranks #959 out of 2625 companies in the Software industry, placing it in the top 36.5%.
Is Futong Technology Development Holdings' Beneish M-Score too high?
Futong Technology Development Holdings' current Beneish M-Score is -2.73. Based on the distribution chart, Futong Technology Development Holdings ranks #959 out of 2625 companies in the Software industry, which is above the industry midpoint. Overall, Futong Technology Development Holdings has a GF Score™ of 26/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Futong Technology Development Holdings' Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Futong Technology Development Holdings ranks #959 out of 2625 companies for Beneish M-Score. This puts Futong Technology Development 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 Software company?
A good Beneish M-Score depends on the Software 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 Futong Technology Development Holdings and its competitors. Futong Technology Development Holdings's current Beneish M-Score is -2.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Futong Technology Development Holdings stock overvalued right now?
Based on GuruFocus' analysis, Futong Technology Development Holdings (HKSE:00465) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.21, compared to a current price of HK$3.71 — trading 1666.7% above its estimated fair value. The current Beneish M-Score is -2.73. Futong Technology Development Holdings' overall GF Score™ is 26/100 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 Futong Technology Development Holdings (HKSE:00465), the current Beneish M-Score is -2.73 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.

Is Futong Technology Development Holdings (HKSE:00465) Overvalued in 2026?

Based on GuruFocus' analysis, Futong Technology Development Holdings stock appears to be overvalued. The current stock price of HK$3.71 is trading 1666.7% above its estimated GF Value™ of HK$0.21. GuruFocus considers Futong Technology Development Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:00465:

  • Beneish M-Score: -2.73
  • GF Value™: HK$0.21 vs. price of HK$3.71 (1666.7% above fair value)
  • GF Score™: 26/100 with 3 warning signs

No single metric tells the full story. See the HKSE:00465 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Futong Technology Development Holdings Business Description

Address No. 26 Chaowai Street, Units B1901 on level 19 and B2001 on level 20 of Tower B, Chaowaimen Office Center, Chaoyang District, Beijing, CHN
Futong Technology Development Holdings Ltd is an enterprise digital transformation services provider in China. It uses technologies such as cloud computing and AI to provide enterprise customers with digital products, solutions, and professional IT services. The Group's two key product offerings are Cloud Intelligence and Data Intelligence. Maximum revenue is derived from Cloud Intelligence product offerings, which include its proprietary cloud-computing products, including CloudScape, CloudOne, CloudShare, CloudObs, and CloudAtlas. The Data Intelligence products include Voice of Customer, IntelligenceCore Data Workshop, and IntelligenceCore AI Agent Management Platform, among others, integrating AI technology into the different business scenarios of customers in various industries.
26GF Score

Get the complete analysis for HKSE:00465

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

HK$3.71
Price
HK$0.21
GF Value