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Leunda HoldingsHKSE:00738 +1.54%39 Beneish M-Score is -2.92 as of Aug. 17, 2026. GuruFocus rates HKSE:00738 with a GF Score™ of 39/100 and a GF Value™ of HK$0.16 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 996 Manufacturing - Apparel & Accessories companies, Leunda Holdings ranks better than 77.51% 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 -2.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Leunda Holdings's Beneish M-Score or its related term are showing as below:
HKSE:00738'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.51 Med: -2.96 Max: -1.96
Current: -2.92
During the past 13 years, the highest Beneish M-Score of Leunda Holdings was -1.96. The lowest was -3.51. And the median was -2.96.
The historical data trend for Leunda 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:00738 vs NKE, DECK, ONON: Beneish M-Score Comparison
For the Footwear & Accessories subindustry, Leunda 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.
Leunda Holdings Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Leunda Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Leunda 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 Leunda 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 * 1.1853
+
0.528 * 0.8677
+
0.404 * 0.8852
+
0.892 * 0.6419
+
0.115 * 1.2016
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0159
+
4.679 * -0.049481
-
0.327 * 0.8741
=
-2.92
* 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))
=
(20.318 / (20.318 + 12.83))
/
(11.922 / (11.922 + 11.45))
=
0.612948
/
0.510098
=
1.2016
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
=
(-66.251 - 0
-
-39.817)
/
534.221
=
-0.049481
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.
Leunda Holdings has a M-score of -2.92 suggests that the company is unlikely to be a manipulator.
Leunda Holdings (HKSE:00738) has a Beneish M-Score of -2.92 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Leunda Holdings and its competitors. According to the industry distribution chart, Leunda Holdings ranks #224 out of 996 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 22.5%.
Is Leunda Holdings' Beneish M-Score too high?
Leunda Holdings' current Beneish M-Score is -2.92. Based on the distribution chart, Leunda Holdings ranks #224 out of 996 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Leunda Holdings has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Leunda Holdings' Beneish M-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Leunda Holdings ranks #224 out of 996 companies for Beneish M-Score. This places Leunda Holdings in the top 23% 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 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 Leunda Holdings and its competitors. Leunda Holdings's current Beneish M-Score is -2.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Leunda Holdings stock overvalued right now?
Based on GuruFocus' analysis, Leunda Holdings (HKSE:00738) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.16, compared to a current price of HK$0.33 — trading 106.3% above its estimated fair value. The current Beneish M-Score is -2.92. Leunda Holdings' overall GF Score™ is 39/100 with 2 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 Leunda Holdings (HKSE:00738), the current Beneish M-Score is -2.92 as of Aug. 17, 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 Leunda Holdings (HKSE:00738) Overvalued in 2026?
Based on GuruFocus' analysis, Leunda Holdings stock appears to be overvalued.
The current stock price of HK$0.33 is trading 106.3% above its estimated GF Value™ of HK$0.16.
GuruFocus considers Leunda Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:00738:
Beneish M-Score: -2.92
GF Value™: HK$0.16 vs. price of HK$0.33 (106.3% above fair value)
No single metric tells the full story. See the HKSE:00738 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Le Saunda Holdings Ltd is an investment holding company. Along with its subsidiaries, it is engaged in the trading and sales of ladies' and men's footwear, handbags, and fashion accessories. The proprietary brands of the firm include Le Saunda, Le Saunda Men, Linea Rosa, and CNE. The group's reportable segments are Mainland China, which derives all of its revenue, and Others.
39GF Score
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