EVA Precision Industrial Holdings (HKSE:00838) Beneish M-Score: -2.88 (As of Aug. 22, 2026)

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HKSE:00838 EVA Precision Industrial Holdings Ltd HKSE:00838
56 GF Score
Price HK$0.76
GF Value HK$0.80
Valuation Fairly Valued
! 2 Warning Signs
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What is EVA Precision Industrial Holdings Beneish M-Score?

EVA Precision Industrial Holdings HKSE:00838 +2.01% 56 Beneish M-Score is -2.88 as of Aug. 22, 2026. GuruFocus rates HKSE:00838 with a GF Score™ of 56/100 and a GF Value™ of HK$0.80 (Fairly Valued). The stock has 2 warning signs investors should review. Among 2,917 Industrial Products companies, EVA Precision Industrial Holdings ranks better than 83.13% 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 -2.88 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:00838' s Beneish M-Score Range Over the Past 10 Years
Min: -2.98   Med: -2.46   Max: -2.34
Current: -2.88

During the past 13 years, the highest Beneish M-Score of EVA Precision Industrial Holdings was -2.34. The lowest was -2.98. And the median was -2.46.

EVA Precision Industrial Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for EVA Precision Industrial 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.

EVA Precision Industrial Holdings Beneish M-Score Chart

EVA Precision Industrial 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 -2.49 -2.43 -2.34 -2.98 -2.88

EVA Precision Industrial 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 -2.34 0.00 -2.98 0.00 -2.88

HKSE:00838 vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, EVA Precision Industrial 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.

EVA Precision Industrial Holdings Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, EVA Precision Industrial Holdings's Beneish M-Score distribution charts can be found below:

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


HKSE:00838
56GF Score
EVA Precision Industrial Holdings Ltd HKSE:00838
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EVA Precision Industrial 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 EVA Precision Industrial 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 * 1.0291+0.528 * 0.9779+0.404 * 0.6122+0.892 * 0.9573+0.115 * 0.936
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0544+4.679 * -0.045975-0.327 * 0.9787
=-2.88

* 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$1,785 Mil.
Revenue was HK$6,028 Mil.
Gross Profit was HK$1,347 Mil.
Total Current Assets was HK$4,371 Mil.
Total Assets was HK$7,700 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,282 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$348 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,021 Mil.
Total Current Liabilities was HK$3,223 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1,124 Mil.
Net Income was HK$245 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$599 Mil.
 Total Receivables was HK$1,812 Mil.
Revenue was HK$6,297 Mil.
Gross Profit was HK$1,376 Mil.
Total Current Assets was HK$4,312 Mil.
Total Assets was HK$7,475 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,090 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$305 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,012 Mil.
Total Current Liabilities was HK$2,812 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1,500 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)
=(1784.543 / 6027.82) / (1811.519 / 6296.926)
=0.296051 / 0.287683
=1.0291

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)
=(1375.632 / 6296.926) / (1346.578 / 6027.82)
=0.218461 / 0.223394
=0.9779

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 - (4371.174 + 3282.428) / 7699.725) / (1 - (4312.043 + 3089.524) / 7474.699)
=0.00599 / 0.009784
=0.6122

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
=6027.82 / 6296.926
=0.9573

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))
=(304.784 / (304.784 + 3089.524)) / (348.302 / (348.302 + 3282.428))
=0.089793 / 0.095932
=0.936

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)
=(1021.109 / 6027.82) / (1011.679 / 6296.926)
=0.169399 / 0.160662
=1.0544

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)
=((1123.843 + 3223.093) / 7699.725) / ((1499.914 + 2811.638) / 7474.699)
=0.564557 / 0.576819
=0.9787

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
=(244.627 - 0 - 598.623) / 7699.725
=-0.045975

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.

EVA Precision Industrial Holdings has a M-score of -2.88 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 -2.88 mean?
EVA Precision Industrial Holdings (HKSE:00838) has a Beneish M-Score of -2.88 as of Aug. 22, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on EVA Precision Industrial Holdings and its competitors. According to the industry distribution chart, EVA Precision Industrial Holdings ranks #492 out of 2917 companies in the Industrial Products industry, placing it in the top 16.9%.
Is EVA Precision Industrial Holdings' Beneish M-Score too high?
EVA Precision Industrial Holdings' current Beneish M-Score is -2.88. Based on the distribution chart, EVA Precision Industrial Holdings ranks #492 out of 2917 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, EVA Precision Industrial Holdings has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does EVA Precision Industrial Holdings' Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, EVA Precision Industrial Holdings ranks #492 out of 2917 companies for Beneish M-Score. This places EVA Precision Industrial Holdings in the top 17% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 EVA Precision Industrial Holdings and its competitors. EVA Precision Industrial Holdings's current Beneish M-Score is -2.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EVA Precision Industrial Holdings stock overvalued right now?
Based on GuruFocus' analysis, EVA Precision Industrial Holdings (HKSE:00838) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.80, compared to a current price of HK$0.76 — trading 5% below its estimated fair value. The current Beneish M-Score is -2.88. EVA Precision Industrial Holdings' overall GF Score™ is 56/100 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 EVA Precision Industrial Holdings (HKSE:00838), the current Beneish M-Score is -2.88 as of Aug. 22, 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 EVA Precision Industrial Holdings (HKSE:00838) Overvalued in 2026?

Based on GuruFocus' analysis, EVA Precision Industrial Holdings stock appears to be undervalued. The current stock price of HK$0.76 is trading 5% below its estimated GF Value™ of HK$0.80. GuruFocus considers EVA Precision Industrial Holdings to be Fairly Valued.

Key valuation signals for HKSE:00838:

  • Beneish M-Score: -2.88
  • GF Value™: HK$0.80 vs. price of HK$0.76 (5% below fair value)
  • GF Score™: 56/100 with 2 warning signs

No single metric tells the full story. See the HKSE:00838 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

EVA Precision Industrial Holdings Business Description

Other Exchanges GZT:Germany
Address Number 1 Science Museum Road, Unit 8, 6th Floor, Greenfield Tower, Concordia Plaza, Kowloon, Hong Kong, HKG
EVA Precision Industrial Holdings Ltd is an investment holding company. The group is a vertically integrated precision manufacturing service provider. The Group's existing services include mainly design and fabrication of precision metal stamping and plastic injection moulds; manufacturing of precision metal and plastic components by using tailor-made moulds and other sophisticated manufacturing processes; iii) lathing of metal components The company's operating segment includes Office automation equipment and Automotive components and Information and communication. It generates maximum revenue from the Office automation equipment segment. Geographically, it derives a majority of revenue from The People's Republic of China.
56GF Score

Get the complete analysis for HKSE:00838

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

HK$0.76
Price
HK$0.80
GF Value