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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 -1.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Maxnerva Technology Services's Beneish M-Score or its related term are showing as below:
HKSE:01037'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.86 Med: -2.25 Max: -0.48
Current: -1.87
During the past 13 years, the highest Beneish M-Score of Maxnerva Technology Services was -0.48. The lowest was -4.86. And the median was -2.25.
* 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:01037 vs IBM, ACN, FISV: Beneish M-Score Comparison
For the Information Technology Services subindustry, Maxnerva Technology Services'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.
Maxnerva Technology Services Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Maxnerva Technology Services's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Maxnerva Technology Services'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 Maxnerva Technology Services 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 * 1.1052
+
0.528 * 1.0546
+
0.404 * 0.5738
+
0.892 * 1.3099
+
0.115 * 1.1759
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7923
+
4.679 * 0.061916
-
0.327 * 0.9072
=
-1.87
* 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))
=
(10.545 / (10.545 + 28.693))
/
(12.42 / (12.42 + 41.924))
=
0.268745
/
0.228544
=
1.1759
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
=
(-16.075 - 0
-
-56.72)
/
656.452
=
0.061916
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.
Maxnerva Technology Services has a M-score of -1.87 suggests that the company is unlikely to be a manipulator.
Maxnerva Technology Services (HKSE:01037) has a Beneish M-Score of -1.87 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Maxnerva Technology Services and its competitors. According to the industry distribution chart, Maxnerva Technology Services ranks #2075 out of 2629 companies in the Software industry, placing it in the top 78.9%.
Is Maxnerva Technology Services' Beneish M-Score too high?
Maxnerva Technology Services' current Beneish M-Score is -1.87. Based on the distribution chart, Maxnerva Technology Services ranks #2075 out of 2629 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Maxnerva Technology Services has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Maxnerva Technology Services' Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Maxnerva Technology Services ranks #2075 out of 2629 companies for Beneish M-Score. This places Maxnerva Technology Services 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 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 Maxnerva Technology Services and its competitors. Maxnerva Technology Services's current Beneish M-Score is -1.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maxnerva Technology Services stock overvalued right now?
Based on GuruFocus' analysis, Maxnerva Technology Services (HKSE:01037) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.29, compared to a current price of HK$0.60 — trading 106.9% above its estimated fair value. The current Beneish M-Score is -1.87. Maxnerva Technology Services' overall GF Score™ is 48/100 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 Maxnerva Technology Services (HKSE:01037), the current Beneish M-Score is -1.87 as of Aug. 05, 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 Maxnerva Technology Services (HKSE:01037) Overvalued in 2026?
Based on GuruFocus' analysis, Maxnerva Technology Services stock appears to be overvalued.
The current stock price of HK$0.60 is trading 106.9% above its estimated GF Value™ of HK$0.29.
GuruFocus considers Maxnerva Technology Services to be Significantly Overvalued.
Key valuation signals for HKSE:01037:
Beneish M-Score: -1.87
GF Value™: HK$0.29 vs. price of HK$0.60 (106.9% above fair value)
No single metric tells the full story. See the HKSE:01037 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maxnerva Technology Services Ltd provides a range of smart manufacturing solutions and services to customers, including the implementation of a combination of software systems and automation equipment and robots into the production lines to lower costs and increase operational effectiveness and efficiency through smart processes; the implementation of facility monitor and control system for monitoring the efficiency of the usage of water, power, and gas at production plants; the implementation of facial recognition system for labor and security management of the entire industrial parks; and the provision of testing and inspection services for new and existing electronic products. Its segments are Digital Industry Business which derives the majority of revenue, and Digital Life Business.
48GF 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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