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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 -2.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Grand Pharmaceutical Group's Beneish M-Score or its related term are showing as below:
HKSE:00512'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.57 Med: -2.33 Max: -2.11
Current: -2.26
During the past 13 years, the highest Beneish M-Score of Grand Pharmaceutical Group was -2.11. The lowest was -2.57. And the median was -2.33.
* 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 Drug Manufacturers - Specialty & Generic subindustry, Grand Pharmaceutical Group'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.
Grand Pharmaceutical Group Beneish M-Score vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Grand Pharmaceutical Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Grand Pharmaceutical Group's Beneish M-Score falls into.
Grand Pharmaceutical Group 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 Grand Pharmaceutical Group 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 * 1.27
+
0.528 * 1.0483
+
0.404 * 1.0146
+
0.892 * 1.0548
+
0.115 * 0.9894
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0657
+
4.679 * -0.015042
-
0.327 * 1.0751
=
-2.26
* 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))
=
(503.748 / (503.748 + 3835.843))
/
(581.895 / (581.895 + 4377.622))
=
0.116082
/
0.117329
=
0.9894
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
=
(1240.871 - 0
-
1649.523)
/
27166.804
=
-0.015042
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.
Grand Pharmaceutical Group has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
Grand Pharmaceutical Group (HKSE:00512) has a Beneish M-Score of -2.26 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grand Pharmaceutical Group and its competitors. According to the industry distribution chart, Grand Pharmaceutical Group ranks #613 out of 913 companies in the Drug Manufacturers industry, placing it in the top 67.1%.
Is Grand Pharmaceutical Group's Beneish M-Score too high?
Grand Pharmaceutical Group's current Beneish M-Score is -2.26. Based on the distribution chart, Grand Pharmaceutical Group ranks #613 out of 913 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Grand Pharmaceutical Group has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grand Pharmaceutical Group's Beneish M-Score compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Grand Pharmaceutical Group ranks #613 out of 913 companies for Beneish M-Score. This places Grand Pharmaceutical Group 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 Drug Manufacturers company?
A good Beneish M-Score depends on the Drug Manufacturers 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 Grand Pharmaceutical Group and its competitors. Grand Pharmaceutical Group's current Beneish M-Score is -2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grand Pharmaceutical Group stock overvalued right now?
Based on GuruFocus' analysis, Grand Pharmaceutical Group (HKSE:00512) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$5.97, compared to a current price of HK$5.24 — trading 12.3% below its estimated fair value. The current Beneish M-Score is -2.26. Grand Pharmaceutical Group's overall GF Score™ is 87/100 with 6 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 Grand Pharmaceutical Group (HKSE:00512), the current Beneish M-Score is -2.26 as of Aug. 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 Grand Pharmaceutical Group (HKSE:00512) Overvalued in 2026?
Based on GuruFocus' analysis, Grand Pharmaceutical Group stock appears to be undervalued.
The current stock price of HK$5.24 is trading 12.3% below its estimated GF Value™ of HK$5.97.
GuruFocus considers Grand Pharmaceutical Group to be Modestly Undervalued.
Key valuation signals for HKSE:00512:
Beneish M-Score: -2.26
GF Value™: HK$5.97 vs. price of HK$5.24 (12.3% below fair value)
No single metric tells the full story. See the HKSE:00512 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Grand Pharmaceutical Group Ltd are principally engaged in the manufacture and sales of pharmaceutical technology products, manufacture and sales of bio-technology products as well as manufacture and sales of nuclear medicine anti-tumor diagnosis and treatment and cerebro-cardiovascular precision interventional diagnosis and treatment technology products, in the People's Republic of China. The operation of the group constitutes one single reportable segment. The company has presence in The PRC, America, Europe, Asia other than the PRC and Others. The majority of revenue comes from the PRC. Its brands are breathe, biology, Cardiovascular emergency care, Cardiovascular intervention, ENT, tumor.
87GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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