Towngas Smart Energy Co (HKSE:01083) Beneish M-Score: -2.41 (As of Jul. 02, 2026)


HKSE:01083 Towngas Smart Energy Co Ltd HKSE:01083
79 GF Score
Price HK$2.96
GF Value HK$3.19
Valuation Fairly Valued
! 6 Warning Signs
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What is Towngas Smart Energy Co Beneish M-Score?

Towngas Smart Energy Co HKSE:01083 +0.34% 79 Beneish M-Score is -2.41 as of Jul. 02, 2026. GuruFocus rates HKSE:01083 with a GF Score™ of 79/100 and a GF Value™ of HK$3.19 (Fairly Valued). The stock has 6 warning signs investors should review. Among 485 Utilities - Regulated companies, Towngas Smart Energy Co ranks worse than 70.52% 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 -2.41 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Towngas Smart Energy Co's Beneish M-Score or its related term are showing as below:

HKSE:01083' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77   Med: -2.36   Max: -2.18
Current: -2.41

During the past 13 years, the highest Beneish M-Score of Towngas Smart Energy Co was -2.18. The lowest was -2.77. And the median was -2.36.

Towngas Smart Energy Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Towngas Smart Energy Co'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.

Towngas Smart Energy Co Beneish M-Score Chart

Towngas Smart Energy Co 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 -2.31 -2.33 -2.54 -2.18 -2.41

Towngas Smart Energy Co 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 -2.54 0.00 -2.18 0.00 -2.41

HKSE:01083 vs ATO, NI: Beneish M-Score Comparison

For the Utilities - Regulated Gas subindustry, Towngas Smart Energy Co'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.

Towngas Smart Energy Co Beneish M-Score vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Towngas Smart Energy Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Towngas Smart Energy Co's Beneish M-Score falls into.


HKSE:01083
79GF Score
Towngas Smart Energy Co Ltd HKSE:01083
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Towngas Smart Energy Co 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 Towngas Smart Energy Co 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 * 1.0116+0.528 * 1.0685+0.404 * 1.1217+0.892 * 0.9811+0.115 * 0.9689
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.00382-0.327 * 0.9479
=-2.41

* 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$3,932 Mil.
Revenue was HK$20,912 Mil.
Gross Profit was HK$5,020 Mil.
Total Current Assets was HK$7,643 Mil.
Total Assets was HK$55,207 Mil.
Property, Plant and Equipment(Net PPE) was HK$30,275 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,322 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0 Mil.
Total Current Liabilities was HK$15,178 Mil.
Long-Term Debt & Capital Lease Obligation was HK$10,854 Mil.
Net Income was HK$1,585 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$1,796 Mil.
 Total Receivables was HK$3,962 Mil.
Revenue was HK$21,314 Mil.
Gross Profit was HK$5,467 Mil.
Total Current Assets was HK$8,930 Mil.
Total Assets was HK$53,043 Mil.
Property, Plant and Equipment(Net PPE) was HK$29,304 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,238 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0 Mil.
Total Current Liabilities was HK$14,528 Mil.
Long-Term Debt & Capital Lease Obligation was HK$11,857 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)
=(3931.95 / 20912.01) / (3961.632 / 21314.027)
=0.188024 / 0.18587
=1.0116

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)
=(5467.295 / 21314.027) / (5020.372 / 20912.01)
=0.256512 / 0.240071
=1.0685

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 - (7643.16 + 30275.324) / 55206.905) / (1 - (8930.343 + 29303.777) / 53042.747)
=0.313157 / 0.279183
=1.1217

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
=20912.01 / 21314.027
=0.9811

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))
=(1238.31 / (1238.31 + 29303.777)) / (1322.155 / (1322.155 + 30275.324))
=0.040544 / 0.041844
=0.9689

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)
=(0 / 20912.01) / (0 / 21314.027)
=0 / 0
=1

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)
=((10853.625 + 15178.154) / 55206.905) / ((11857.295 + 14528.388) / 53042.747)
=0.471531 / 0.497442
=0.9479

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
=(1585.355 - 0 - 1796.224) / 55206.905
=-0.00382

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.

Towngas Smart Energy Co has a M-score of -2.41 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 -2.41 mean?
Towngas Smart Energy Co (HKSE:01083) has a Beneish M-Score of -2.41 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Towngas Smart Energy Co and its competitors. According to the industry distribution chart, Towngas Smart Energy Co ranks #342 out of 485 companies in the Utilities - Regulated industry, placing it in the top 70.5%.
Is Towngas Smart Energy Co's Beneish M-Score too high?
Towngas Smart Energy Co's current Beneish M-Score is -2.41. Based on the distribution chart, Towngas Smart Energy Co ranks #342 out of 485 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Towngas Smart Energy Co has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Towngas Smart Energy Co's Beneish M-Score compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Towngas Smart Energy Co ranks #342 out of 485 companies for Beneish M-Score. This places Towngas Smart Energy Co 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 an Utilities - Regulated company?
A good Beneish M-Score depends on the Utilities - Regulated 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 Towngas Smart Energy Co and its competitors. Towngas Smart Energy Co's current Beneish M-Score is -2.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Towngas Smart Energy Co stock overvalued right now?
Based on GuruFocus' analysis, Towngas Smart Energy Co (HKSE:01083) is currently considered Fairly Valued. The stock's GF Value™ is HK$3.19, compared to a current price of HK$2.96 — trading 7.2% below its estimated fair value. The current Beneish M-Score is -2.41. Towngas Smart Energy Co's overall GF Score™ is 79/100 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 Towngas Smart Energy Co (HKSE:01083), the current Beneish M-Score is -2.41 as of Jul. 02, 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 Towngas Smart Energy Co (HKSE:01083) Overvalued in 2026?

Based on GuruFocus' analysis, Towngas Smart Energy Co stock appears to be undervalued. The current stock price of HK$2.96 is trading 7.2% below its estimated GF Value™ of HK$3.19. GuruFocus considers Towngas Smart Energy Co to be Fairly Valued.

Key valuation signals for HKSE:01083:

  • Beneish M-Score: -2.41
  • GF Value™: HK$3.19 vs. price of HK$2.96 (7.2% below fair value)
  • GF Score™: 79/100 with 6 warning signs

No single metric tells the full story. See the HKSE:01083 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Towngas Smart Energy Co Business Description

Other Exchanges TGASF:USAPGJ:Germany
Address 363 Java Road, North Point, 23rd Floor, Hong Kong, HKG
Towngas Smart Energy Co Ltd is an investment holding company engaged in the sales of piped gas, renewable energy, and other types of energy, the construction of gas pipelines, the sale of gas appliances and related products, and other value-added services in the People's Republic of China. The operating segment of the company are Gas business and Renewable energy business. The Renewable energy business is engaged in Sales of renewable energy (mainly photovoltaic power) and other related energy and services and the Gas business is further categorized in Sales of piped gas, Gas connection, Gas-related products and services. The company derives maximum revenue from the Sales of piped gas and other gas-related energy. All of the Group' s revenue is generated in the PRC.
79GF Score

Get the complete analysis for HKSE:01083

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

HK$2.96
Price
HK$3.19
GF Value