Justin Allen Holdings (HKSE:01425) Beneish M-Score: -2.53 (As of Aug. 11, 2026)

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HKSE:01425 Justin Allen Holdings Ltd HKSE:01425
66 GF Score
Price HK$0.59
GF Value HK$0.61
Valuation Fairly Valued
! 1 Warning Sign
View Full Analysis

What is Justin Allen Holdings Beneish M-Score?

Justin Allen Holdings HKSE:01425 66 Beneish M-Score is -2.53 as of Aug. 11, 2026. GuruFocus rates HKSE:01425 with a GF Score™ of 66/100 and a GF Value™ of HK$0.61 (Fairly Valued). The stock has 1 warning sign investors should review. Among 998 Manufacturing - Apparel & Accessories companies, Justin Allen Holdings ranks better than 51.1% 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 -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01425' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12   Med: -2.72   Max: 0.21
Current: -2.53

During the past 10 years, the highest Beneish M-Score of Justin Allen Holdings was 0.21. The lowest was -3.12. And the median was -2.72.

Justin Allen Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Justin Allen 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.

Justin Allen Holdings Beneish M-Score Chart

Justin Allen 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 -1.66 -2.03 -3.12 0.21 -2.53

Justin Allen Holdings Semi-Annual Data
Dec16 Dec17 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 -3.12 0.00 0.21 0.00 -2.53

HKSE:01425 vs RL, LEVI, VFC: Beneish M-Score Comparison

For the Apparel Manufacturing subindustry, Justin Allen 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.

Justin Allen Holdings Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Justin Allen Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Justin Allen Holdings's Beneish M-Score falls into.


HKSE:01425
66GF Score
Justin Allen Holdings Ltd HKSE:01425
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Justin Allen 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 Justin Allen 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 * 0.9129+0.528 * 0.9848+0.404 * 1.05+0.892 * 1.0288+0.115 * 0.9948
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1507+4.679 * -0.012281-0.327 * 0.7806
=-2.53

* 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$111 Mil.
Revenue was HK$1,099 Mil.
Gross Profit was HK$336 Mil.
Total Current Assets was HK$892 Mil.
Total Assets was HK$1,127 Mil.
Property, Plant and Equipment(Net PPE) was HK$225 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$22 Mil.
Selling, General, & Admin. Expense(SGA) was HK$144 Mil.
Total Current Liabilities was HK$161 Mil.
Long-Term Debt & Capital Lease Obligation was HK$27 Mil.
Net Income was HK$167 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$181 Mil.
 Total Receivables was HK$118 Mil.
Revenue was HK$1,068 Mil.
Gross Profit was HK$322 Mil.
Total Current Assets was HK$843 Mil.
Total Assets was HK$1,056 Mil.
Property, Plant and Equipment(Net PPE) was HK$204 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$20 Mil.
Selling, General, & Admin. Expense(SGA) was HK$121 Mil.
Total Current Liabilities was HK$199 Mil.
Long-Term Debt & Capital Lease Obligation was HK$28 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)
=(110.617 / 1098.569) / (117.775 / 1067.83)
=0.100692 / 0.110294
=0.9129

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)
=(321.59 / 1067.83) / (335.947 / 1098.569)
=0.301162 / 0.305804
=0.9848

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 - (892.148 + 224.739) / 1127.05) / (1 - (843.152 + 204.234) / 1056.459)
=0.009017 / 0.008588
=1.05

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
=1098.569 / 1067.83
=1.0288

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))
=(19.526 / (19.526 + 204.234)) / (21.609 / (21.609 + 224.739))
=0.087263 / 0.087717
=0.9948

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)
=(143.637 / 1098.569) / (121.338 / 1067.83)
=0.130749 / 0.11363
=1.1507

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)
=((27.378 + 161.477) / 1127.05) / ((27.713 + 199.057) / 1056.459)
=0.167566 / 0.214651
=0.7806

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
=(166.749 - 0 - 180.59) / 1127.05
=-0.012281

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.

Justin Allen Holdings has a M-score of -2.53 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 -2.53 mean?
Justin Allen Holdings (HKSE:01425) has a Beneish M-Score of -2.53 as of Aug. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Justin Allen Holdings and its competitors. According to the industry distribution chart, Justin Allen Holdings ranks #488 out of 998 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 48.9%.
Is Justin Allen Holdings' Beneish M-Score too high?
Justin Allen Holdings' current Beneish M-Score is -2.53. Based on the distribution chart, Justin Allen Holdings ranks #488 out of 998 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Justin Allen Holdings has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Justin Allen Holdings' Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Justin Allen Holdings ranks #488 out of 998 companies for Beneish M-Score. This puts Justin Allen Holdings in the upper 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Justin Allen Holdings and its competitors. Justin Allen Holdings's current Beneish M-Score is -2.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Justin Allen Holdings stock overvalued right now?
Based on GuruFocus' analysis, Justin Allen Holdings (HKSE:01425) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.61, compared to a current price of HK$0.59 — trading 4.1% below its estimated fair value. The current Beneish M-Score is -2.53. Justin Allen Holdings' overall GF Score™ is 66/100 with 1 warning sign 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 Justin Allen Holdings (HKSE:01425), the current Beneish M-Score is -2.53 as of Aug. 11, 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 Justin Allen Holdings (HKSE:01425) Overvalued in 2026?

Based on GuruFocus' analysis, Justin Allen Holdings stock appears to be undervalued. The current stock price of HK$0.59 is trading 4.1% below its estimated GF Value™ of HK$0.61. GuruFocus considers Justin Allen Holdings to be Fairly Valued.

Key valuation signals for HKSE:01425:

  • Beneish M-Score: -2.53
  • GF Value™: HK$0.61 vs. price of HK$0.59 (4.1% below fair value)
  • GF Score™: 66/100 with 1 warning sign

No single metric tells the full story. See the HKSE:01425 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Justin Allen Holdings Business Description

Address 483A Castle Peak Road, 31st Floor, Excel Centre, Cheung Sha Wan, Hong Kong, HKG
Justin Allen Holdings Ltd is an investment holding company. The Group is principally engaged in the manufacturing and sales of sleepwear products, loungewear products, greige fabric and processing services. Its business operation includes raw materials sourcing and greige fabric production, raw materials and fabric development, garment design, customer consultation on product design and fabric use, conducting key garment production processes with its production facilities, and carrying out quality control at various key production stages and on finished garment products. The Group has one operating segment. The company has presence in United States of America, United Kingdom, Ireland, Canada, Spain, The PRC, and Cambodia. The majority of revenue comes from United States of America.
66GF Score

Get the complete analysis for HKSE:01425

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

HK$0.59
Price
HK$0.61
GF Value