Busy Ming Group Co (HKSE:01768) Beneish M-Score: -2.81 (As of Aug. 28, 2026)

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HKSE:01768 Busy Ming Group Co Ltd HKSE:01768
20 GF Score
Price HK$444.80
! 2 Warning Signs
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What is Busy Ming Group Co Beneish M-Score?

Busy Ming Group Co HKSE:01768 +4.66% 20 Beneish M-Score is -2.81 as of Aug. 28, 2026. GuruFocus rates HKSE:01768 with a GF Score™ of 20/100. The stock has 2 warning signs investors should review. Among 294 Retail - Defensive companies, Busy Ming Group Co ranks better than 69.39% 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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Busy Ming Group Co's Beneish M-Score or its related term are showing as below:

HKSE:01768' s Beneish M-Score Range Over the Past 10 Years
Min: -2.81   Med: -1.57   Max: -0.32
Current: -2.81

During the past 4 years, the highest Beneish M-Score of Busy Ming Group Co was -0.32. The lowest was -2.81. And the median was -1.57.

Busy Ming Group Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Busy Ming Group Co'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.

Busy Ming Group Co Beneish M-Score Chart

Busy Ming Group Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -0.32 -2.81

Busy Ming Group Co Quarterly Data
Dec22 Dec23 Sep24 Dec24 Jun25 Sep25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 -0.32 0.00 0.00 -2.81

HKSE:01768 vs SYY, USFD, PFGC: Beneish M-Score Comparison

For the Food Distribution subindustry, Busy Ming Group Co'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.

Busy Ming Group Co Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Busy Ming Group Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Busy Ming Group Co's Beneish M-Score falls into.


HKSE:01768
20GF Score
Busy Ming Group Co Ltd HKSE:01768
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Busy Ming Group 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 Busy Ming Group 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 * 0.3727+0.528 * 0.7753+0.404 * 0.8005+0.892 * 1.7402+0.115 * 1.1051
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0582+4.679 * -0.05711-0.327 * 0.8319
=-2.81

* 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$382 Mil.
Revenue was HK$73,100 Mil.
Gross Profit was HK$7,187 Mil.
Total Current Assets was HK$9,007 Mil.
Total Assets was HK$13,920 Mil.
Property, Plant and Equipment(Net PPE) was HK$935 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$283 Mil.
Selling, General, & Admin. Expense(SGA) was HK$3,671 Mil.
Total Current Liabilities was HK$4,416 Mil.
Long-Term Debt & Capital Lease Obligation was HK$198 Mil.
Net Income was HK$2,573 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$3,368 Mil.
 Total Receivables was HK$589 Mil.
Revenue was HK$42,006 Mil.
Gross Profit was HK$3,202 Mil.
Total Current Assets was HK$6,528 Mil.
Total Assets was HK$10,856 Mil.
Property, Plant and Equipment(Net PPE) was HK$452 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$156 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,994 Mil.
Total Current Liabilities was HK$4,168 Mil.
Long-Term Debt & Capital Lease Obligation was HK$157 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)
=(381.981 / 73100.033) / (588.871 / 42005.968)
=0.005225 / 0.014019
=0.3727

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)
=(3202 / 42005.968) / (7186.828 / 73100.033)
=0.076227 / 0.098315
=0.7753

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 - (9007.076 + 934.696) / 13920.471) / (1 - (6527.724 + 452.302) / 10856.323)
=0.285816 / 0.357054
=0.8005

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
=73100.033 / 42005.968
=1.7402

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))
=(156.285 / (156.285 + 452.302)) / (282.953 / (282.953 + 934.696))
=0.2568 / 0.232376
=1.1051

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)
=(3671.174 / 73100.033) / (1993.523 / 42005.968)
=0.050221 / 0.047458
=1.0582

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)
=((198.156 + 4415.948) / 13920.471) / ((157.235 + 4168.282) / 10856.323)
=0.331462 / 0.398433
=0.8319

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
=(2573.061 - 0 - 3368.057) / 13920.471
=-0.05711

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.

Busy Ming Group Co has a M-score of -2.81 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 -2.81 mean?
Busy Ming Group Co (HKSE:01768) has a Beneish M-Score of -2.81 as of Aug. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Busy Ming Group Co and its competitors. According to the industry distribution chart, Busy Ming Group Co ranks #90 out of 294 companies in the Retail - Defensive industry, placing it in the top 30.6%.
Is Busy Ming Group Co's Beneish M-Score too high?
Busy Ming Group Co's current Beneish M-Score is -2.81. Based on the distribution chart, Busy Ming Group Co ranks #90 out of 294 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Busy Ming Group Co has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Busy Ming Group Co's Beneish M-Score compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Busy Ming Group Co ranks #90 out of 294 companies for Beneish M-Score. This puts Busy Ming Group Co 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Busy Ming Group Co and its competitors. Busy Ming Group Co's current Beneish M-Score is -2.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Busy Ming Group Co stock overvalued right now?
Busy Ming Group Co (HKSE:01768) has a current Beneish M-Score of -2.81. The current Beneish M-Score is -2.81. Busy Ming Group Co's overall GF Score™ is 20/100 with 2 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 Busy Ming Group Co (HKSE:01768), the current Beneish M-Score is -2.81 as of Aug. 28, 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.

Busy Ming Group Co Business Description

Address 567 Changsha Avenue, 33001-33006, Phase II Business Complex Building, Yunda Central Plaza, Yuhua District, Hunan Province, Changsha, CHN
Busy Ming Group Co Ltd is principally engaged in the sale of snacks and beverages as well as the provision of related services. The company operates under the two brands: Busy for You and Super Ming. The majority of its revenue is derived from (i) sales of goods to franchisees and (ii) fees for franchising services. Geographically, it generates revenue only from the PRC.
20GF Score

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

HK$444.80
Price