Bank of Tianjin Co (HKSE:01578) Beneish M-Score: -2.31 (As of Sep. 20, 2026)

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HKSE:01578 Bank of Tianjin Co Ltd HKSE:01578
55 GF Score
Price HK$2.06
GF Value HK$2.05
Valuation Fairly Valued
! 4 Warning Signs
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What is Bank of Tianjin Co Beneish M-Score?

Bank of Tianjin Co HKSE:01578 -0.24% 55 Beneish M-Score is -2.31 as of Sep. 20, 2026. GuruFocus rates HKSE:01578 with a GF Score™ of 55/100 and a GF Value™ of HK$2.05 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,388 Banks companies, Bank of Tianjin Co ranks worse than 66.5% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01578' s Beneish M-Score Range Over the Past 10 Years
Min: -3.38   Med: -2.48   Max: -1.66
Current: -2.31

During the past 13 years, the highest Beneish M-Score of Bank of Tianjin Co was -1.66. The lowest was -3.38. And the median was -2.48.

HKSE:01578
55GF Score
Bank of Tianjin Co Ltd HKSE:01578
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bank of Tianjin 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 Bank of Tianjin 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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$0 Mil.
Revenue was HK$19,116 Mil.
Gross Profit was HK$ Mil.
Total Current Assets was HK$ Mil.
Total Assets was HK$1,094,214 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,548 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$706 Mil.
Selling, General, & Admin. Expense(SGA) was HK$ Mil.
Total Current Liabilities was HK$ Mil.
Long-Term Debt & Capital Lease Obligation was HK$53,741 Mil.
Net Income was HK$4,179 Mil.
Gross Profit was HK$ Mil.
Cash Flow from Operations was HK$-14,339 Mil.
 Total Receivables was HK$0 Mil.
Revenue was HK$18,743 Mil.
Gross Profit was HK$ Mil.
Total Current Assets was HK$ Mil.
Total Assets was HK$985,454 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,196 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$747 Mil.
Selling, General, & Admin. Expense(SGA) was HK$ Mil.
Total Current Liabilities was HK$ Mil.
Long-Term Debt & Capital Lease Obligation was HK$37,559 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)
=(0 / 19116.23) / (0 / 18743.02)
=0 / 0
=

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)
=(0 / 18743.02) / (0 / 19116.23)
=0 / 0
=

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 - (0 + 3547.955) / 1094213.995) / (1 - (0 + 3196.143) / 985453.63)
=0.996758 / 0.996757
=

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
=19116.23 / 18743.02
=

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))
=(746.503 / (746.503 + 3196.143)) / (705.73 / (705.73 + 3547.955))
=0.189341 / 0.16591
=

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 / 19116.23) / (0 / 18743.02)
=0 / 0
=

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)
=((53741.143 + 0) / 1094213.995) / ((37558.586 + 0) / 985453.63)
=0.049114 / 0.038113
=

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
=(4179.376 - 0 - -14339.183) / 1094213.995
=0.016924

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.31 mean?
Bank of Tianjin Co (HKSE:01578) has a Beneish M-Score of -2.31 as of Sep. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bank of Tianjin Co and its competitors. According to the industry distribution chart, Bank of Tianjin Co ranks #923 out of 1388 companies in the Banks industry, placing it in the top 66.5%.
Is Bank of Tianjin Co's Beneish M-Score too high?
Bank of Tianjin Co's current Beneish M-Score is -2.31. Based on the distribution chart, Bank of Tianjin Co ranks #923 out of 1388 companies in the Banks industry, which is below the industry midpoint. Overall, Bank of Tianjin Co has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bank of Tianjin Co's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Bank of Tianjin Co ranks #923 out of 1388 companies for Beneish M-Score. This places Bank of Tianjin 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 a Banks company?
A good Beneish M-Score depends on the Banks 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 Bank of Tianjin Co and its competitors. Bank of Tianjin Co's current Beneish M-Score is -2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bank of Tianjin Co stock overvalued right now?
Based on GuruFocus' analysis, Bank of Tianjin Co (HKSE:01578) is currently considered Fairly Valued. The stock's GF Value™ is HK$2.05, compared to a current price of HK$2.06 — trading 0.5% above its estimated fair value. The current Beneish M-Score is -2.31. Bank of Tianjin Co's overall GF Score™ is 55/100 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 Bank of Tianjin Co (HKSE:01578), the current Beneish M-Score is -2.31 as of Sep. 20, 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 Bank of Tianjin Co (HKSE:01578) Overvalued in 2026?

Based on GuruFocus' analysis, Bank of Tianjin Co stock appears to be overvalued. The current stock price of HK$2.06 is trading 0.5% above its estimated GF Value™ of HK$2.05. GuruFocus considers Bank of Tianjin Co to be Fairly Valued.

Key valuation signals for HKSE:01578:

  • Beneish M-Score: -2.31
  • GF Value™: HK$2.05 vs. price of HK$2.06 (0.5% above fair value)
  • GF Score™: 55/100 with 4 warning signs

No single metric tells the full story. See the HKSE:01578 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Bank of Tianjin Co Business Description

Other Exchanges B95:Germany
Address No. 15 Youyi Road, Hexi District, Tianjin, CHN, 300201
Bank of Tianjin Co Ltd is engaged in corporate banking, personal banking, treasury operations, and other financial services, providing a diversified range of banking products and services. The corporate banking segment, which generates maximum revenue, offers loans, trade financing, deposit-taking, and intermediary services to corporations, government agencies, and financial institutions. The personal banking segment provides loans, deposits, card business, wealth management, and intermediary services to individual customers. The treasury operations segment conducts money market, foreign exchange, precious metals, and derivatives transactions, and debt instrument investments for its own accounts or on behalf of customers.
55GF Score

Get the complete analysis for HKSE:01578

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

HK$2.06
Price
HK$2.05
GF Value