Mobicon Group (HKSE:01213) Beneish M-Score: -2.97 (As of Jul. 04, 2026)


HKSE:01213 Mobicon Group Ltd HKSE:01213
39 GF Score
Price HK$0.47
GF Value HK$0.19
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Mobicon Group Beneish M-Score?

Mobicon Group HKSE:01213 +2.17% 39 Beneish M-Score is -2.97 as of Jul. 04, 2026. GuruFocus rates HKSE:01213 with a GF Score™ of 39/100 and a GF Value™ of HK$0.19 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,405 Hardware companies, Mobicon Group ranks better than 81.54% 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 -2.97 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Mobicon Group's Beneish M-Score or its related term are showing as below:

HKSE:01213' s Beneish M-Score Range Over the Past 10 Years
Min: -3.28   Med: -2.93   Max: -2.37
Current: -2.97

During the past 13 years, the highest Beneish M-Score of Mobicon Group was -2.37. The lowest was -3.28. And the median was -2.93.

Mobicon Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mobicon Group'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.

Mobicon Group Beneish M-Score Chart

Mobicon Group Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.66 -3.28 -3.15 -2.97 0.00

Mobicon Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 -3.15 0.00 -2.97 0.00 0.00

HKSE:01213 vs SNX, ARW, AVT: Beneish M-Score Comparison

For the Electronics & Computer Distribution subindustry, Mobicon Group'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.

Mobicon Group Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Mobicon Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mobicon Group's Beneish M-Score falls into.


HKSE:01213
39GF Score
Mobicon Group Ltd HKSE:01213
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mobicon Group 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 Mobicon Group 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 * 1.0754+0.528 * 1.0037+0.404 * 0.9326+0.892 * 0.8436+0.115 * 1.1266
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2026+4.679 * -0.077955-0.327 * 1.027
=-2.97

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was HK$37.9 Mil.
Revenue was HK$287.3 Mil.
Gross Profit was HK$75.2 Mil.
Total Current Assets was HK$206.8 Mil.
Total Assets was HK$263.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$50.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$87.1 Mil.
Total Current Liabilities was HK$100.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.4 Mil.
Net Income was HK$-11.8 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$8.7 Mil.
 Total Receivables was HK$41.8 Mil.
Revenue was HK$340.6 Mil.
Gross Profit was HK$89.5 Mil.
Total Current Assets was HK$214.1 Mil.
Total Assets was HK$273.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$53.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$8.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$85.8 Mil.
Total Current Liabilities was HK$99.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4.0 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)
=(37.934 / 287.322) / (41.812 / 340.579)
=0.132026 / 0.122767
=1.0754

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)
=(89.491 / 340.579) / (75.216 / 287.322)
=0.262761 / 0.261783
=1.0037

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 - (206.766 + 50.794) / 263.127) / (1 - (214.095 + 53.575) / 273.883)
=0.021157 / 0.022685
=0.9326

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
=287.322 / 340.579
=0.8436

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))
=(8.084 / (8.084 + 53.575)) / (6.69 / (6.69 + 50.794))
=0.131108 / 0.11638
=1.1266

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)
=(87.053 / 287.322) / (85.802 / 340.579)
=0.302981 / 0.25193
=1.2026

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)
=((1.417 + 100.628) / 263.127) / ((3.977 + 99.452) / 273.883)
=0.387817 / 0.377639
=1.027

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
=(-11.764 - 0 - 8.748) / 263.127
=-0.077955

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.

Mobicon Group has a M-score of -2.97 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 -2.97 mean?
Mobicon Group (HKSE:01213) has a Beneish M-Score of -2.97 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mobicon Group and its competitors. According to the industry distribution chart, Mobicon Group ranks #444 out of 2405 companies in the Hardware industry, placing it in the top 18.5%.
Is Mobicon Group's Beneish M-Score too high?
Mobicon Group's current Beneish M-Score is -2.97. Based on the distribution chart, Mobicon Group ranks #444 out of 2405 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Mobicon Group has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mobicon Group's Beneish M-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Mobicon Group ranks #444 out of 2405 companies for Beneish M-Score. This places Mobicon Group in the top 19% 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Mobicon Group and its competitors. Mobicon Group's current Beneish M-Score is -2.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mobicon Group stock overvalued right now?
Based on GuruFocus' analysis, Mobicon Group (HKSE:01213) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.19, compared to a current price of HK$0.47 — trading 147.4% above its estimated fair value. The current Beneish M-Score is -2.97. Mobicon Group's overall GF Score™ is 39/100 with 3 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 Mobicon Group (HKSE:01213), the current Beneish M-Score is -2.97 as of Jul. 04, 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 Mobicon Group (HKSE:01213) Overvalued in 2026?

Based on GuruFocus' analysis, Mobicon Group stock appears to be overvalued. The current stock price of HK$0.47 is trading 147.4% above its estimated GF Value™ of HK$0.19. GuruFocus considers Mobicon Group to be Significantly Overvalued.

Key valuation signals for HKSE:01213:

  • Beneish M-Score: -2.97
  • GF Value™: HK$0.19 vs. price of HK$0.47 (147.4% above fair value)
  • GF Score™: 39/100 with 3 warning signs

No single metric tells the full story. See the HKSE:01213 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Mobicon Group Business Description

Address 704 Prince Edward Road East, 7th Floor, New Trend Centre, San Po Kong, Kowloon, Hong Kong, HKG
Mobicon Group Ltd is a Hong Kong-based investment holding company principally engaged in the electronic trading business. The company operates through three business segments. The Electronic Trading Business segment which derives key revenue, is engaged in the distribution of electronic components, automation parts, and equipment. The Computer Business segment is engaged in the retail of computer products, mobile accessories; distribution of computer products; provision of information technology (IT) outsourcing, and solution services. The Cosmetic and Online Retail Business segment is engaged in the retail and distribution of cosmetic products. Geographically, it derives key revenue from Hong Kong and also has a presence in the Asia Pacific, South Africa, Europe, and other countries.
39GF Score

Get the complete analysis for HKSE:01213

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

HK$0.47
Price
HK$0.19
GF Value