Tianjin Jinran Public Utilities Co (HKSE:01265) Beneish M-Score: -1.60 (As of Aug. 13, 2026)

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HKSE:01265 Tianjin Jinran Public Utilities Co Ltd HKSE:01265
40 GF Score
Price HK$0.15
GF Value HK$0.05
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Tianjin Jinran Public Utilities Co Beneish M-Score?

Tianjin Jinran Public Utilities Co HKSE:01265 40 Beneish M-Score is -1.60 as of Aug. 13, 2026. GuruFocus rates HKSE:01265 with a GF Score™ of 40/100 and a GF Value™ of HK$0.05 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 485 Utilities - Regulated companies, Tianjin Jinran Public Utilities Co ranks worse than 94.23% 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.

Warning Sign:

Beneish M-Score -1.6 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Tianjin Jinran Public Utilities Co's Beneish M-Score or its related term are showing as below:

HKSE:01265' s Beneish M-Score Range Over the Past 10 Years
Min: -4.11   Med: -2.61   Max: -1.6
Current: -1.6

During the past 13 years, the highest Beneish M-Score of Tianjin Jinran Public Utilities Co was -1.60. The lowest was -4.11. And the median was -2.61.

Tianjin Jinran Public Utilities Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tianjin Jinran Public Utilities 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.

Tianjin Jinran Public Utilities Co Beneish M-Score Chart

Tianjin Jinran Public Utilities 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 -4.11 -2.68 -2.14 -2.00 -1.60

Tianjin Jinran Public Utilities 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 -2.14 0.00 -2.00 0.00 -1.60

HKSE:01265 vs ATO, NI: Beneish M-Score Comparison

For the Utilities - Regulated Gas subindustry, Tianjin Jinran Public Utilities 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.

Tianjin Jinran Public Utilities Co Beneish M-Score vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Tianjin Jinran Public Utilities Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tianjin Jinran Public Utilities Co's Beneish M-Score falls into.


HKSE:01265
40GF Score
Tianjin Jinran Public Utilities Co Ltd HKSE:01265
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tianjin Jinran Public Utilities 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 Tianjin Jinran Public Utilities 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 * 1.5713+0.528 * 1.5175+0.404 * 0.9215+0.892 * 1.0326+0.115 * 0.9533
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7255+4.679 * 0.015248-0.327 * 1.0814
=-1.60

* 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$442 Mil.
Revenue was HK$1,759 Mil.
Gross Profit was HK$-24 Mil.
Total Current Assets was HK$1,121 Mil.
Total Assets was HK$2,243 Mil.
Property, Plant and Equipment(Net PPE) was HK$893 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$9 Mil.
Total Current Liabilities was HK$649 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0 Mil.
Net Income was HK$-49 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-83 Mil.
 Total Receivables was HK$272 Mil.
Revenue was HK$1,703 Mil.
Gross Profit was HK$-35 Mil.
Total Current Assets was HK$1,021 Mil.
Total Assets was HK$2,168 Mil.
Property, Plant and Equipment(Net PPE) was HK$909 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$12 Mil.
Total Current Liabilities was HK$580 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 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)
=(441.562 / 1758.775) / (272.141 / 1703.257)
=0.251062 / 0.159777
=1.5713

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)
=(-34.958 / 1703.257) / (-23.787 / 1758.775)
=-0.020524 / -0.013525
=1.5175

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 - (1121.452 + 893.29) / 2242.644) / (1 - (1020.572 + 908.51) / 2168.173)
=0.101622 / 0.110273
=0.9215

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
=1758.775 / 1703.257
=1.0326

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))
=(3.055 / (3.055 + 908.51)) / (3.151 / (3.151 + 893.29))
=0.003351 / 0.003515
=0.9533

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)
=(9.316 / 1758.775) / (12.435 / 1703.257)
=0.005297 / 0.007301
=0.7255

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)
=((0 + 649.352) / 2242.644) / ((0.6 + 579.949) / 2168.173)
=0.289548 / 0.26776
=1.0814

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
=(-48.9 - 0 - -83.095) / 2242.644
=0.015248

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.

Tianjin Jinran Public Utilities Co has a M-score of -1.60 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.60 mean?
Tianjin Jinran Public Utilities Co (HKSE:01265) has a Beneish M-Score of -1.60 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tianjin Jinran Public Utilities Co and its competitors. According to the industry distribution chart, Tianjin Jinran Public Utilities Co ranks #457 out of 485 companies in the Utilities - Regulated industry, placing it in the top 94.2%.
Is Tianjin Jinran Public Utilities Co's Beneish M-Score too high?
Tianjin Jinran Public Utilities Co's current Beneish M-Score is -1.60. Based on the distribution chart, Tianjin Jinran Public Utilities Co ranks #457 out of 485 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Tianjin Jinran Public Utilities Co has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tianjin Jinran Public Utilities Co's Beneish M-Score compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Tianjin Jinran Public Utilities Co ranks #457 out of 485 companies for Beneish M-Score. This places Tianjin Jinran Public Utilities 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 Tianjin Jinran Public Utilities Co and its competitors. Tianjin Jinran Public Utilities Co's current Beneish M-Score is -1.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tianjin Jinran Public Utilities Co stock overvalued right now?
Based on GuruFocus' analysis, Tianjin Jinran Public Utilities Co (HKSE:01265) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.05, compared to a current price of HK$0.15 — trading 200% above its estimated fair value. The current Beneish M-Score is -1.60. Tianjin Jinran Public Utilities Co's overall GF Score™ is 40/100 with 4 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 Tianjin Jinran Public Utilities Co (HKSE:01265), the current Beneish M-Score is -1.60 as of Aug. 13, 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 Tianjin Jinran Public Utilities Co (HKSE:01265) Overvalued in 2026?

Based on GuruFocus' analysis, Tianjin Jinran Public Utilities Co stock appears to be overvalued. The current stock price of HK$0.15 is trading 200% above its estimated GF Value™ of HK$0.05. GuruFocus considers Tianjin Jinran Public Utilities Co to be Significantly Overvalued.

Key valuation signals for HKSE:01265:

  • Beneish M-Score: -1.60
  • GF Value™: HK$0.05 vs. price of HK$0.15 (200% above fair value)
  • GF Score™: 40/100 with 4 warning signs

No single metric tells the full story. See the HKSE:01265 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tianjin Jinran Public Utilities Co Business Description

Address No. 28 Nankai Fourth Road, 5th Floor, Court A, Nankai District, Tianjin, CHN
Tianjin Jinran Public Utilities Co Ltd is engaged in the sale of piped natural gas, the sale of natural gas appliances, natural gas pipeline grid connection, and natural gas transportation via pipelines, while principal operation activities include the sale and distribution of piped gas, the lease of pipelines, the operation and management of gas pipeline infrastructure, the sale and installation of gas appliances, the lease of self-owned buildings and facilities of gas stations. The Company has the following reportable segments: (1) Sales of piped natural gas; (2) Gas connection; (3) Gas transportation; (4) Sales of gas appliances and others; (5) Gas pipeline rental. It generates majority of its revenue from the Sales of piped natural gas segment.
40GF Score

Get the complete analysis for HKSE:01265

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

HK$0.15
Price
HK$0.05
GF Value