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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.
Warning Sign:
Beneish M-Score 3.78 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Sheng Yuan Holdings's Beneish M-Score or its related term are showing as below:
HKSE:00851'
s Beneish M-Score Range Over the Past 10 Years
Min: -8.32 Med: -2.14 Max: 4.48
Current: 3.78
During the past 13 years, the highest Beneish M-Score of Sheng Yuan Holdings was 4.48. The lowest was -8.32. And the median was -2.14.
Sheng Yuan Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Sheng Yuan 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:00851 vs MS, GS, SCHW: Beneish M-Score Comparison
For the Capital Markets subindustry, Sheng Yuan 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.
Sheng Yuan Holdings Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Sheng Yuan Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sheng Yuan 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 Sheng Yuan 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 * 2.6839
+
0.528 * 7.0105
+
0.404 * 0.2282
+
0.892 * 2.5186
+
0.115 * 0.6346
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.2825
+
4.679 * 0.125125
-
0.327 * 1.5328
=
3.78
* 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))
=
(1.659 / (1.659 + 2.699))
/
(1.619 / (1.619 + 1.08))
=
0.380679
/
0.599852
=
0.6346
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
=
(9.682 - 0
-
-13.384)
/
184.343
=
0.125125
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.
Sheng Yuan Holdings has a M-score of 3.78 signals that the company is likely to be a manipulator.
Sheng Yuan Holdings (HKSE:00851) has a Beneish M-Score of 3.78 as of Sep. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sheng Yuan Holdings and its competitors. According to the industry distribution chart, Sheng Yuan Holdings ranks #637 out of 701 companies in the Capital Markets industry, placing it in the top 90.9%.
Is Sheng Yuan Holdings' Beneish M-Score too high?
Sheng Yuan Holdings' current Beneish M-Score is 3.78. Based on the distribution chart, Sheng Yuan Holdings ranks #637 out of 701 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Sheng Yuan Holdings has a GF Score™ of 28/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sheng Yuan Holdings' Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Sheng Yuan Holdings ranks #637 out of 701 companies for Beneish M-Score. This places Sheng Yuan 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 Sheng Yuan Holdings and its competitors. Sheng Yuan Holdings's current Beneish M-Score is 3.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sheng Yuan Holdings stock overvalued right now?
Based on GuruFocus' analysis, Sheng Yuan Holdings (HKSE:00851) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.69, compared to a current price of HK$0.17 — trading 76.1% below its estimated fair value. The current Beneish M-Score is 3.78. Sheng Yuan Holdings' overall GF Score™ is 28/100 with 5 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 Sheng Yuan Holdings (HKSE:00851), the current Beneish M-Score is 3.78 as of Sep. 03, 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 Sheng Yuan Holdings (HKSE:00851) Overvalued in 2026?
Based on GuruFocus' analysis, Sheng Yuan Holdings stock appears to be undervalued.
The current stock price of HK$0.17 is trading 76.1% below its estimated GF Value™ of HK$0.69.
GuruFocus considers Sheng Yuan Holdings to be Possible Value Trap.
Key valuation signals for HKSE:00851:
Beneish M-Score: 3.78
GF Value™: HK$0.69 vs. price of HK$0.17 (76.1% below fair value)
No single metric tells the full story. See the HKSE:00851 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sheng Yuan Holdings Ltd is an investment holding company. The company through its subsidiaries is engaged in the provision of financial services in Hong Kong. The operating business segments are securities brokerage and financial services is engaged in the provision of discretionary and non-discretionary dealing services for securities, securities placing and underwriting services, margin financing and money lending services, corporate finance advisory and general advisory services; asset management services provides fund management and discretionary portfolio management and investment advisory services; the proprietary trading segment is engaged in investment holding and securities trading; and trading business is engaged in Financing services. It derives revenue from Hong Kong.
28GF 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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