Kin Pang Holdings (HKSE:01722) Beneish M-Score: -3.60 (As of Aug. 11, 2026)

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What is Kin Pang Holdings Beneish M-Score?

Kin Pang Holdings HKSE:01722 -5.10% Beneish M-Score is -3.60 as of Aug. 11, 2026. The stock has 3 warning signs investors should review. Among 1,705 Construction companies, Kin Pang Holdings ranks better than 93.08% 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 -3.6 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01722' s Beneish M-Score Range Over the Past 10 Years
Min: -3.94   Med: -1.42   Max: 0.79
Current: -3.6

During the past 12 years, the highest Beneish M-Score of Kin Pang Holdings was 0.79. The lowest was -3.94. And the median was -1.42.

Kin Pang Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Kin Pang 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.

Kin Pang Holdings Beneish M-Score Chart

Kin Pang 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 0.79 -3.94 -0.25 -1.80 -3.60

Kin Pang Holdings Semi-Annual Data
Dec15 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 -0.25 0.00 -1.80 0.00 -3.60

HKSE:01722 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Kin Pang 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.

Kin Pang Holdings Beneish M-Score vs Construction Industry

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

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


Kin Pang 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 Kin Pang 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 * 1.0655+0.528 * 0.6492+0.404 * 0.1064+0.892 * 0.9436+0.115 * 0.8234
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0472+4.679 * -0.115239-0.327 * 1.0632
=-3.60

* 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$254.8 Mil.
Revenue was HK$618.3 Mil.
Gross Profit was HK$9.9 Mil.
Total Current Assets was HK$300.2 Mil.
Total Assets was HK$423.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$122.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$35.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$29.7 Mil.
Total Current Liabilities was HK$283.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3.7 Mil.
Net Income was HK$-19.2 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$29.7 Mil.
 Total Receivables was HK$253.5 Mil.
Revenue was HK$655.3 Mil.
Gross Profit was HK$6.8 Mil.
Total Current Assets was HK$307.7 Mil.
Total Assets was HK$429.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$114.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$25.6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$30.1 Mil.
Total Current Liabilities was HK$273.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.4 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)
=(254.81 / 618.304) / (253.45 / 655.284)
=0.412111 / 0.386779
=1.0655

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)
=(6.826 / 655.284) / (9.921 / 618.304)
=0.010417 / 0.016046
=0.6492

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 - (300.168 + 122.844) / 423.858) / (1 - (307.744 + 114.111) / 429.92)
=0.001996 / 0.018759
=0.1064

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
=618.304 / 655.284
=0.9436

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))
=(25.567 / (25.567 + 114.111)) / (35.115 / (35.115 + 122.844))
=0.183042 / 0.222305
=0.8234

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)
=(29.713 / 618.304) / (30.07 / 655.284)
=0.048056 / 0.045889
=1.0472

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)
=((3.676 + 283.345) / 423.858) / ((0.444 + 273.374) / 429.92)
=0.677163 / 0.636905
=1.0632

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
=(-19.193 - 0 - 29.652) / 423.858
=-0.115239

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.

Kin Pang Holdings has a M-score of -3.60 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 -3.60 mean?
Kin Pang Holdings (HKSE:01722) has a Beneish M-Score of -3.60 as of Aug. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kin Pang Holdings and its competitors. According to the industry distribution chart, Kin Pang Holdings ranks #118 out of 1705 companies in the Construction industry, placing it in the top 6.9%.
Is Kin Pang Holdings' Beneish M-Score too high?
Kin Pang Holdings' current Beneish M-Score is -3.60. Based on the distribution chart, Kin Pang Holdings ranks #118 out of 1705 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does Kin Pang Holdings' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Kin Pang Holdings ranks #118 out of 1705 companies for Beneish M-Score. This places Kin Pang Holdings in the top 7% 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 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 Kin Pang Holdings and its competitors. Kin Pang Holdings's current Beneish M-Score is -3.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kin Pang Holdings stock overvalued right now?
Based on GuruFocus' analysis, Kin Pang Holdings (HKSE:01722) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.08, compared to a current price of HK$0.09 — trading 16.3% above its estimated fair value. The current Beneish M-Score is -3.60. 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 Kin Pang Holdings (HKSE:01722), the current Beneish M-Score is -3.60 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.

Kin Pang Holdings Business Description

Address No. 249-263, Avenida Dr. Sun Yat-Sen, Room L, 17th Floor, China Civil Engineering Building, NAPE, Macau, MAC
Kin Pang Holdings Ltd is an integrated construction company that provides building and ancillary services to hotel and casino resorts, property developers, infrastructure of electricity and water supply, and public amenities and utilities (such as carriageways, footpaths, drains, and sewers). The company operates in a single business segment, which is the building and ancillary services segment, and represents the firm's revenue generated from foundation-associated works, hard landscaping, alteration, and addition works, road works, water pipe works, electrical and mechanical works, and other ancillary building works. Geographically, the company derives a majority of its revenue from Macau and the rest from Hong Kong.