BAIOO Family Interactive (HKSE:02100) Beneish M-Score: -3.10 (As of Aug. 01, 2026)

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HKSE:02100 BAIOO Family Interactive Ltd HKSE:02100
44 GF Score
Price HK$0.35
GF Value HK$0.23
Valuation Significantly Overvalued
! 1 Warning Sign
View Full Analysis

What is BAIOO Family Interactive Beneish M-Score?

BAIOO Family Interactive HKSE:02100 -1.41% 44 Beneish M-Score is -3.10 as of Aug. 01, 2026. GuruFocus rates HKSE:02100 with a GF Score™ of 44/100 and a GF Value™ of HK$0.23 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 531 Interactive Media companies, BAIOO Family Interactive ranks better than 69.49% 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 -3.1 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for BAIOO Family Interactive's Beneish M-Score or its related term are showing as below:

HKSE:02100' s Beneish M-Score Range Over the Past 10 Years
Min: -3.19   Med: -2.35   Max: 0.83
Current: -3.1

During the past 13 years, the highest Beneish M-Score of BAIOO Family Interactive was 0.83. The lowest was -3.19. And the median was -2.35.

BAIOO Family Interactive Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BAIOO Family Interactive'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.

BAIOO Family Interactive Beneish M-Score Chart

BAIOO Family Interactive 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 -3.15 -1.52 -2.93 -2.20 -3.10

BAIOO Family Interactive Semi-Annual Data
Jun16 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 -2.93 0.00 -2.20 0.00 -3.10

HKSE:02100 vs NTES, EA, TTWO: Beneish M-Score Comparison

For the Electronic Gaming & Multimedia subindustry, BAIOO Family Interactive'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.

BAIOO Family Interactive Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, BAIOO Family Interactive's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where BAIOO Family Interactive's Beneish M-Score falls into.


HKSE:02100
44GF Score
BAIOO Family Interactive Ltd HKSE:02100
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BAIOO Family Interactive 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 BAIOO Family Interactive 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 * 0.7539+0.528 * 0.9389+0.404 * 0.3214+0.892 * 1.1582+0.115 * 1.0024
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0585+4.679 * -0.047321-0.327 * 0.9886
=-3.10

* 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$46.2 Mil.
Revenue was HK$674.3 Mil.
Gross Profit was HK$332.0 Mil.
Total Current Assets was HK$1,282.7 Mil.
Total Assets was HK$1,942.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$552.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$23.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$150.9 Mil.
Total Current Liabilities was HK$271.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Net Income was HK$-82.9 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$9.0 Mil.
 Total Receivables was HK$52.9 Mil.
Revenue was HK$582.2 Mil.
Gross Profit was HK$269.1 Mil.
Total Current Assets was HK$1,126.5 Mil.
Total Assets was HK$2,001.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$529.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$22.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$123.1 Mil.
Total Current Liabilities was HK$282.5 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)
=(46.217 / 674.288) / (52.931 / 582.195)
=0.068542 / 0.090916
=0.7539

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)
=(269.12 / 582.195) / (331.988 / 674.288)
=0.462251 / 0.492353
=0.9389

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 - (1282.659 + 551.956) / 1942.661) / (1 - (1126.549 + 529.002) / 2001.94)
=0.055618 / 0.173027
=0.3214

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
=674.288 / 582.195
=1.1582

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))
=(22.12 / (22.12 + 529.002)) / (23.021 / (23.021 + 551.956))
=0.040136 / 0.040038
=1.0024

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)
=(150.875 / 674.288) / (123.071 / 582.195)
=0.223755 / 0.211391
=1.0585

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 + 271.041) / 1942.661) / ((0 + 282.544) / 2001.94)
=0.13952 / 0.141135
=0.9886

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
=(-82.914 - 0 - 9.015) / 1942.661
=-0.047321

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.

BAIOO Family Interactive has a M-score of -3.10 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 -3.10 mean?
BAIOO Family Interactive (HKSE:02100) has a Beneish M-Score of -3.10 as of Aug. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BAIOO Family Interactive and its competitors. According to the industry distribution chart, BAIOO Family Interactive ranks #162 out of 531 companies in the Interactive Media industry, placing it in the top 30.5%.
Is BAIOO Family Interactive's Beneish M-Score too high?
BAIOO Family Interactive's current Beneish M-Score is -3.10. Based on the distribution chart, BAIOO Family Interactive ranks #162 out of 531 companies in the Interactive Media industry, which is above the industry midpoint. Overall, BAIOO Family Interactive has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BAIOO Family Interactive's Beneish M-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, BAIOO Family Interactive ranks #162 out of 531 companies for Beneish M-Score. This puts BAIOO Family Interactive 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 an Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 BAIOO Family Interactive and its competitors. BAIOO Family Interactive's current Beneish M-Score is -3.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BAIOO Family Interactive stock overvalued right now?
Based on GuruFocus' analysis, BAIOO Family Interactive (HKSE:02100) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.23, compared to a current price of HK$0.35 — trading 52.2% above its estimated fair value. The current Beneish M-Score is -3.10. BAIOO Family Interactive's overall GF Score™ is 44/100 with 1 warning sign 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 BAIOO Family Interactive (HKSE:02100), the current Beneish M-Score is -3.10 as of Aug. 01, 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 BAIOO Family Interactive (HKSE:02100) Overvalued in 2026?

Based on GuruFocus' analysis, BAIOO Family Interactive stock appears to be overvalued. The current stock price of HK$0.35 is trading 52.2% above its estimated GF Value™ of HK$0.23. GuruFocus considers BAIOO Family Interactive to be Significantly Overvalued.

Key valuation signals for HKSE:02100:

  • Beneish M-Score: -3.10
  • GF Value™: HK$0.23 vs. price of HK$0.35 (52.2% above fair value)
  • GF Score™: 44/100 with 1 warning sign

No single metric tells the full story. See the HKSE:02100 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

BAIOO Family Interactive Business Description

Address 123 Tiankun 3rd Road, 10th Floor, Baioo Headquarters Building, Tianhe, Guangdong, Guangzhou, CHN, 510640
BAIOO Family Interactive Ltd is developing and publishing mobile and PC games. The Company operates two segments: the Online Entertainment Business segment and the Other Businesses segment. The Online Entertainment Business segment involves development, operation and exclusive distribution of online virtual world business through its own web-based platform and mobile platforms. Other businesses mainly include sales of peripheral products and other services. Key revenue is generated from Online entertainment business. The Company focuses on niche game genres, deepening its development in female-oriented games, pet collection and raising games.
44GF Score

Get the complete analysis for HKSE:02100

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

HK$0.35
Price
HK$0.23
GF Value