Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Wecon HoldingsHKSE:01793 57 Beneish M-Score is -3.82 as of Aug. 20, 2026. GuruFocus rates HKSE:01793 with a GF Score™ of 57/100 and a GF Value™ of HK$0.19 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 1,705 Construction companies, Wecon Holdings ranks better than 94.43% 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 -3.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Wecon Holdings's Beneish M-Score or its related term are showing as below:
HKSE:01793'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.82 Med: -2.25 Max: -1.55
Current: -3.82
During the past 11 years, the highest Beneish M-Score of Wecon Holdings was -1.55. The lowest was -3.82. And the median was -2.25.
The historical data trend for Wecon 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:01793 vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Wecon 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.
Wecon Holdings Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Wecon Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Wecon 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 Wecon 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 * 0.623
+
0.528 * 0.9692
+
0.404 * 0.9699
+
0.892 * 1.0044
+
0.115 * 1.8277
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9658
+
4.679 * -0.230199
-
0.327 * 0.9712
=
-3.82
* 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))
=
(7.258 / (7.258 + 8.898))
/
(7.851 / (7.851 + 24.09))
=
0.449245
/
0.245797
=
1.8277
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
=
(9.455 - 0
-
129.923)
/
523.322
=
-0.230199
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.
Wecon Holdings has a M-score of -3.82 suggests that the company is unlikely to be a manipulator.
Wecon Holdings (HKSE:01793) has a Beneish M-Score of -3.82 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wecon Holdings and its competitors. According to the industry distribution chart, Wecon Holdings ranks #95 out of 1705 companies in the Construction industry, placing it in the top 5.6%.
Is Wecon Holdings' Beneish M-Score too high?
Wecon Holdings' current Beneish M-Score is -3.82. Based on the distribution chart, Wecon Holdings ranks #95 out of 1705 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Wecon Holdings has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Wecon Holdings' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Wecon Holdings ranks #95 out of 1705 companies for Beneish M-Score. This places Wecon Holdings in the top 6% 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 Wecon Holdings and its competitors. Wecon Holdings's current Beneish M-Score is -3.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wecon Holdings stock overvalued right now?
Based on GuruFocus' analysis, Wecon Holdings (HKSE:01793) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.19, compared to a current price of HK$0.82 — trading 331.6% above its estimated fair value. The current Beneish M-Score is -3.82. Wecon Holdings' overall GF Score™ is 57/100 with 10 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 Wecon Holdings (HKSE:01793), the current Beneish M-Score is -3.82 as of Aug. 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 Wecon Holdings (HKSE:01793) Overvalued in 2026?
Based on GuruFocus' analysis, Wecon Holdings stock appears to be overvalued.
The current stock price of HK$0.82 is trading 331.6% above its estimated GF Value™ of HK$0.19.
GuruFocus considers Wecon Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01793:
Beneish M-Score: -3.82
GF Value™: HK$0.19 vs. price of HK$0.82 (331.6% above fair value)
No single metric tells the full story. See the HKSE:01793 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wecon Holdings Ltd is an investment holding company. The company's operating segment includes Construction contracts and RMAA works services. The Construction contracts services provided by the group consist of building works for new buildings, including residential, commercial, and industrial buildings. Its RMAA works services include the general upkeep, maintenance, improvement, refurbishment, alteration, and addition of existing facilities and components of buildings and their surroundings. It generates maximum revenue from the Construction contracts segment. Geographically, it derives revenue from Hong Kong.
57GF Score
Get the complete analysis for HKSE:01793
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:01793 has been successfully added to your 
