Teamway International Group Holdings (HKSE:01239) Beneish M-Score: -4.40 (As of Aug. 01, 2026)

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HKSE:01239 Teamway International Group Holdings Ltd HKSE:01239
14 GF Score
Price HK$0.27
GF Value HK$0.02
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Teamway International Group Holdings Beneish M-Score?

Teamway International Group Holdings HKSE:01239 14 Beneish M-Score is -4.40 as of Aug. 01, 2026. GuruFocus rates HKSE:01239 with a GF Score™ of 14/100 and a GF Value™ of HK$0.02 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 375 Packaging & Containers companies, Teamway International Group Holdings ranks better than 98.93% 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 -4.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01239' s Beneish M-Score Range Over the Past 10 Years
Min: -6.35   Med: -2.89   Max: 18.42
Current: -4.4

During the past 13 years, the highest Beneish M-Score of Teamway International Group Holdings was 18.42. The lowest was -6.35. And the median was -2.89.

Teamway International Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Teamway International Group 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.

Teamway International Group Holdings Beneish M-Score Chart

Teamway International Group 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 -3.43 -2.93 -0.71 -6.35 -4.40

Teamway International Group 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 -0.71 0.00 -6.35 0.00 -4.40

HKSE:01239 vs SW, PKG, IP: Beneish M-Score Comparison

For the Packaging & Containers subindustry, Teamway International Group 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.

Teamway International Group Holdings Beneish M-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Teamway International Group Holdings's Beneish M-Score distribution charts can be found below:

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


HKSE:01239
14GF Score
Teamway International Group Holdings Ltd HKSE:01239
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Teamway International Group 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 Teamway International Group 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 * 1.2508+0.528 * -0.2351+0.404 * 1.526+0.892 * 0.3117+0.115 * 1.0745
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.914+4.679 * -0.179664-0.327 * 1.3435
=-4.40

* 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$35.88 Mil.
Revenue was HK$84.18 Mil.
Gross Profit was HK$6.25 Mil.
Total Current Assets was HK$102.65 Mil.
Total Assets was HK$195.18 Mil.
Property, Plant and Equipment(Net PPE) was HK$26.61 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$5.41 Mil.
Selling, General, & Admin. Expense(SGA) was HK$44.23 Mil.
Total Current Liabilities was HK$380.74 Mil.
Long-Term Debt & Capital Lease Obligation was HK$176.98 Mil.
Net Income was HK$-35.96 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-0.89 Mil.
 Total Receivables was HK$92.03 Mil.
Revenue was HK$270.07 Mil.
Gross Profit was HK$-4.71 Mil.
Total Current Assets was HK$180.87 Mil.
Total Assets was HK$289.98 Mil.
Property, Plant and Equipment(Net PPE) was HK$44.94 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$9.97 Mil.
Selling, General, & Admin. Expense(SGA) was HK$74.14 Mil.
Total Current Liabilities was HK$424.09 Mil.
Long-Term Debt & Capital Lease Obligation was HK$192.67 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)
=(35.879 / 84.181) / (92.029 / 270.067)
=0.426213 / 0.340764
=1.2508

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)
=(-4.713 / 270.067) / (6.249 / 84.181)
=-0.017451 / 0.074233
=-0.2351

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 - (102.65 + 26.611) / 195.175) / (1 - (180.865 + 44.942) / 289.983)
=0.337717 / 0.22131
=1.526

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
=84.181 / 270.067
=0.3117

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))
=(9.97 / (9.97 + 44.942)) / (5.411 / (5.411 + 26.611))
=0.181563 / 0.168978
=1.0745

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)
=(44.231 / 84.181) / (74.137 / 270.067)
=0.525427 / 0.274513
=1.914

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)
=((176.982 + 380.735) / 195.175) / ((192.671 + 424.089) / 289.983)
=2.857523 / 2.126883
=1.3435

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
=(-35.96 - 0 - -0.894) / 195.175
=-0.179664

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.

Teamway International Group Holdings has a M-score of -4.40 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 -4.40 mean?
Teamway International Group Holdings (HKSE:01239) has a Beneish M-Score of -4.40 as of Aug. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Teamway International Group Holdings and its competitors. According to the industry distribution chart, Teamway International Group Holdings ranks #4 out of 375 companies in the Packaging & Containers industry, placing it in the top 1.1%.
Is Teamway International Group Holdings' Beneish M-Score too high?
Teamway International Group Holdings' current Beneish M-Score is -4.40. Based on the distribution chart, Teamway International Group Holdings ranks #4 out of 375 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers. Overall, Teamway International Group Holdings has a GF Score™ of 14/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Teamway International Group Holdings' Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Teamway International Group Holdings ranks #4 out of 375 companies for Beneish M-Score. This places Teamway International Group Holdings in the top 1% 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 Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers 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 Teamway International Group Holdings and its competitors. Teamway International Group Holdings's current Beneish M-Score is -4.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Teamway International Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Teamway International Group Holdings (HKSE:01239) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.02, compared to a current price of HK$0.27 — trading 1225% above its estimated fair value. The current Beneish M-Score is -4.40. Teamway International Group Holdings' overall GF Score™ is 14/100 with 8 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 Teamway International Group Holdings (HKSE:01239), the current Beneish M-Score is -4.40 as of Aug. 01, 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 Teamway International Group Holdings (HKSE:01239) Overvalued in 2026?

Based on GuruFocus' analysis, Teamway International Group Holdings stock appears to be overvalued. The current stock price of HK$0.27 is trading 1225% above its estimated GF Value™ of HK$0.02. GuruFocus considers Teamway International Group Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:01239:

  • Beneish M-Score: -4.40
  • GF Value™: HK$0.02 vs. price of HK$0.27 (1225% above fair value)
  • GF Score™: 14/100 with 8 warning signs

No single metric tells the full story. See the HKSE:01239 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Teamway International Group Holdings Business Description

Address 9 Canton Road, Harbour City, Suite 1604, 16th Floor, Tower 6, The Gateway, Tsim Sha Tsui, Kowloon, Hong Kong, HKG
Teamway International Group Holdings Ltd is an investment holding company. Its segments include the Design, manufacture, and sale of packaging products and structural components, Trading of filtration media, equipment and related accessories for air purification, Design, manufacturing, sale and marketing of rosewood home furniture, and Property investment. It generates maximum revenue from sales of the packaging products and structural components segment. The company's packaging products are used for the products like Televisions, Refrigerators, Air conditioners, Washing machines, Water heaters, and others. Geographically, it derives a majority of its revenue from Mainland China, and also has its presence in Singapore.
14GF Score

Get the complete analysis for HKSE:01239

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

HK$0.27
Price
HK$0.02
GF Value