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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 -2.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Boer Power Holdings's Beneish M-Score or its related term are showing as below:
HKSE:01685'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.95 Med: -3.02 Max: 0.34
Current: -2.94
During the past 13 years, the highest Beneish M-Score of Boer Power Holdings was 0.34. The lowest was -5.95. And the median was -3.02.
Boer Power Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Boer Power 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.
HKSE:01685 vs GWW, FAST, FERG: Beneish M-Score Comparison
For the Industrial Distribution subindustry, Boer Power 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.
Boer Power Holdings Beneish M-Score vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Boer Power Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Boer Power Holdings's Beneish M-Score falls into.
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 Boer Power 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 * 0.9998
+
0.528 * 1.0076
+
0.404 * 0.7262
+
0.892 * 0.9852
+
0.115 * 1.0355
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1965
+
4.679 * -0.064627
-
0.327 * 1.0166
=
-2.94
* 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.
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.
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))
=
(18.402 / (18.402 + 98.317))
/
(16.791 / (16.791 + 93.491))
=
0.157661
/
0.152255
=
1.0355
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
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
=
(19.846 - 0
-
130.388)
/
1710.455
=
-0.064627
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.
Boer Power Holdings has a M-score of -2.94 suggests that the company is unlikely to be a manipulator.
Boer Power Holdings (HKSE:01685) has a Beneish M-Score of -2.94 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Boer Power Holdings and its competitors. According to the industry distribution chart, Boer Power Holdings ranks #28 out of 154 companies in the Industrial Distribution industry, placing it in the top 18.2%.
Is Boer Power Holdings' Beneish M-Score too high?
Boer Power Holdings' current Beneish M-Score is -2.94. Based on the distribution chart, Boer Power Holdings ranks #28 out of 154 companies in the Industrial Distribution industry, which is in the top quartile — a strong position relative to peers. Overall, Boer Power Holdings has a GF Score™ of 35/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Boer Power Holdings' Beneish M-Score compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Boer Power Holdings ranks #28 out of 154 companies for Beneish M-Score. This places Boer Power Holdings in the top 18% 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 an Industrial Distribution company?
A good Beneish M-Score depends on the Industrial Distribution 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 Boer Power Holdings and its competitors. Boer Power Holdings's current Beneish M-Score is -2.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Boer Power Holdings stock overvalued right now?
Based on GuruFocus' analysis, Boer Power Holdings (HKSE:01685) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.24, compared to a current price of HK$0.69 — trading 187.5% above its estimated fair value. The current Beneish M-Score is -2.94. Boer Power Holdings' overall GF Score™ is 35/100 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 Boer Power Holdings (HKSE:01685), the current Beneish M-Score is -2.94 as of Aug. 12, 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 Boer Power Holdings (HKSE:01685) Overvalued in 2026?
Based on GuruFocus' analysis, Boer Power Holdings stock appears to be overvalued.
The current stock price of HK$0.69 is trading 187.5% above its estimated GF Value™ of HK$0.24.
GuruFocus considers Boer Power Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01685:
Beneish M-Score: -2.94
GF Value™: HK$0.24 vs. price of HK$0.69 (187.5% above fair value)
No single metric tells the full story. See the HKSE:01685 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Boer Power Holdings Ltd is engaged in designing, manufacturing, and selling electrical distribution equipment and provision of electrical distribution systems solution services in the PRC. The business has two segments; IEM Solutions, which includes the sale of electrical distribution systems, EPC projects, and the sale of electricity, and the Components and Spare Parts Business segment, which includes components and spare parts for application on electrical distribution equipment or the basic function units of the solutions and sells such components and spare parts to the customers. Maximum of its revenue is generated by the IEM solutions segment.
35GF Score
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