Shun Wo Group Holdings (HKSE:01591) Beneish M-Score: 0.00 (As of Jul. 19, 2026)

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Shun Wo Group Holdings Ltd HKSE:01591

52 GF Score

Price HK$0.13

GF Value HK$0.13

Valuation Fairly Valued

4 Warning Signs

View Full Analysis

What is Shun Wo Group Holdings Beneish M-Score?

Shun Wo Group Holdings HKSE:01591 -2.33% 52 Beneish M-Score is 0.00 as of Jul. 19, 2026. GuruFocus rates HKSE:01591 with a GF Score™ of 52/100 and a GF Value™ of HK$0.13 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,700 Construction companies, Shun Wo Group Holdings ranks worse than 58823.47% 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.

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

During the past 13 years, the highest Beneish M-Score of Shun Wo Group Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

Shun Wo Group Holdings Beneish M-Score Related Terms

Shun Wo Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shun Wo 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.

Shun Wo Group Holdings Beneish M-Score Chart

Shun Wo Group Holdings Annual Data

Trend

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Beneish M-Score

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0.00

Shun Wo Group Holdings 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															0.00	0.00	0.00	0.00	0.00

HKSE:01591 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Shun Wo 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.

Shun Wo Group Holdings Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Shun Wo Group Holdings's Beneish M-Score distribution charts can be found below:

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

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52GF Score

Shun Wo Group Holdings Ltd HKSE:01591

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Shun Wo 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 Shun Wo Group Holdings for today is based on a combination of the following eight different indices:

-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 *

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was HK$86.6 Mil.
Revenue was HK$166.3 Mil.
Gross Profit was HK$25.3 Mil.
Total Current Assets was HK$186.9 Mil.
Total Assets was HK$203.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$16.3 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$7.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$6.2 Mil.
Total Current Liabilities was HK$62.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.2 Mil.
Net Income was HK$-5.7 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-1.8 Mil.

Total Receivables was HK$82.8 Mil.
Revenue was HK$333.4 Mil.
Gross Profit was HK$60.8 Mil.
Total Current Assets was HK$190.8 Mil.
Total Assets was HK$203.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$12.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$6.6 Mil.
Total Current Liabilities was HK$56.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 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)
	=	(86.623 / 166.255)	/	(82.848 / 333.43)
	=	0.521025	/	0.248472
	=

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)
	=	(60.794 / 333.43)	/	(25.339 / 166.255)
	=	0.182329	/	0.15241
	=

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 - (186.882 + 16.319) / 203.412)	/	(1 - (190.797 + 12.614) / 203.411)
	=	0.001037	/	0
	=

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
	=	166.255	/	333.43
	=

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))
	=	(6.807 / (6.807 + 12.614))	/	(7.696 / (7.696 + 16.319))
	=	0.350497	/	0.320466
	=

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)
	=	(6.221 / 166.255)	/	(6.559 / 333.43)
	=	0.037418	/	0.019671
	=

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)
	=	((0.156 + 62.416) / 203.412)	/	((0 + 56.544) / 203.411)
	=	0.307612	/	0.277979
	=

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
	=	(-5.693 - 0	-	-1.799)	/	203.412
	=	-0.019143

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 0.00 mean?

Shun Wo Group Holdings (HKSE:01591) has a Beneish M-Score of 0.00 as of Jul. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shun Wo Group Holdings and its competitors. According to the industry distribution chart, Shun Wo Group Holdings ranks #999999 out of 1700 companies in the Construction industry.

Is Shun Wo Group Holdings' Beneish M-Score too high?

Shun Wo Group Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, Shun Wo Group Holdings ranks #999999 out of 1700 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Shun Wo Group Holdings has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Shun Wo Group Holdings' Beneish M-Score compare to PWR and FIX?

According to the Construction industry distribution chart, Shun Wo Group Holdings ranks #999999 out of 1700 companies for Beneish M-Score. This places Shun Wo Group Holdings 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Shun Wo Group Holdings and its competitors. Shun Wo Group Holdings's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Shun Wo Group Holdings stock overvalued right now?

Based on GuruFocus' analysis, Shun Wo Group Holdings (HKSE:01591) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.13, compared to a current price of HK$0.13 — trading 3.1% below its estimated fair value. The current Beneish M-Score is 0.00. Shun Wo Group Holdings' overall GF Score™ is 52/100 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 Shun Wo Group Holdings (HKSE:01591), the current Beneish M-Score is 0.00 as of Jul. 19, 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 Shun Wo Group Holdings (HKSE:01591) Overvalued in 2026?

Based on GuruFocus' analysis, Shun Wo Group Holdings stock appears to be undervalued. The current stock price of HK$0.13 is trading 3.1% below its estimated GF Value™ of HK$0.13. GuruFocus considers Shun Wo Group Holdings to be Fairly Valued.

Key valuation signals for HKSE:01591:

Beneish M-Score: 0.00
GF Value™: HK$0.13 vs. price of HK$0.13 (3.1% below fair value)
GF Score™: 52/100 with 4 warning signs

No single metric tells the full story. See the HKSE:01591 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Shun Wo Group Holdings Business Description

Industry Industrials Construction

Comparable Companies HKSE:01253 HKSE:00498 HKSE:08616 HKSE:08549 HKSE:08268 HKSE:01413 HKSE:03728 HKSE:00924 HKSE:03822 HKSE:01647 PWR XPAR:DG FIX NSE:LT XKRX:028260 XAMS:FER XTER:HOT XMAD:ACS EME MTZ

Address 68 Shaukeiwan Road, Flat A, 7th Floor, Sai Wan Ho Plaza, Hong Kong, HKG

Website https://www.swgrph.com

Shun Wo Group Holdings Ltd operates as a foundation works contractor in Hong Kong. It undertakes excavation and lateral support works, socketed H-piling and mini-piling works, and pile caps construction works. Its services are mainly required in the construction of residential, industrial, and commercial buildings. The group engages in business in Hong Kong. It derives revenue from Main contracting and Sub-contracting sources, of which key revenue is generated from Main contracting services.

52GF Score

Get the complete analysis for HKSE:01591

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

HK$0.13

Price

HK$0.13

GF Value

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