Ling Yue Services Group (HKSE:02165) Beneish M-Score: -2.76 (As of Aug. 12, 2026)

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HKSE:02165 Ling Yue Services Group Ltd HKSE:02165
81 GF Score
Price HK$1.63
GF Value HK$1.40
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Ling Yue Services Group Beneish M-Score?

Ling Yue Services Group HKSE:02165 81 Beneish M-Score is -2.76 as of Aug. 12, 2026. GuruFocus rates HKSE:02165 with a GF Score™ of 81/100 and a GF Value™ of HK$1.40 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,677 Real Estate companies, Ling Yue Services Group ranks better than 74.72% 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 -2.76 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ling Yue Services Group's Beneish M-Score or its related term are showing as below:

HKSE:02165' s Beneish M-Score Range Over the Past 10 Years
Min: -4.05   Med: -2.7   Max: -1.39
Current: -2.76

During the past 8 years, the highest Beneish M-Score of Ling Yue Services Group was -1.39. The lowest was -4.05. And the median was -2.70.

Ling Yue Services Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ling Yue Services Group'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.

Ling Yue Services Group Beneish M-Score Chart

Ling Yue Services Group Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -1.39 -2.55 -3.79 -2.63 -2.76

Ling Yue Services Group Semi-Annual Data
Dec18 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 -3.79 0.00 -2.63 0.00 -2.76

HKSE:02165 vs CBRE, BEKE, JLL: Beneish M-Score Comparison

For the Real Estate Services subindustry, Ling Yue Services Group'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.

Ling Yue Services Group Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Ling Yue Services Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ling Yue Services Group's Beneish M-Score falls into.


HKSE:02165
81GF Score
Ling Yue Services Group Ltd HKSE:02165
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ling Yue Services Group 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 Ling Yue Services Group 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 * 0.8875+0.528 * 0.9176+0.404 * 0.8707+0.892 * 1.053+0.115 * 0.7042
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9122+4.679 * -0.02943-0.327 * 0.9244
=-2.76

* 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$178.6 Mil.
Revenue was HK$734.1 Mil.
Gross Profit was HK$224.9 Mil.
Total Current Assets was HK$1,122.7 Mil.
Total Assets was HK$1,158.2 Mil.
Property, Plant and Equipment(Net PPE) was HK$3.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$5.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$62.2 Mil.
Total Current Liabilities was HK$373.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Net Income was HK$87.7 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$121.8 Mil.
 Total Receivables was HK$191.1 Mil.
Revenue was HK$697.1 Mil.
Gross Profit was HK$196.0 Mil.
Total Current Assets was HK$997.4 Mil.
Total Assets was HK$1,035.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$5.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$4.2 Mil.
Selling, General, & Admin. Expense(SGA) was HK$64.7 Mil.
Total Current Liabilities was HK$361.1 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)
=(178.613 / 734.058) / (191.131 / 697.114)
=0.243323 / 0.274175
=0.8875

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)
=(195.952 / 697.114) / (224.859 / 734.058)
=0.28109 / 0.306323
=0.9176

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 - (1122.703 + 3.774) / 1158.219) / (1 - (997.446 + 5.618) / 1035.661)
=0.027406 / 0.031475
=0.8707

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
=734.058 / 697.114
=1.053

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))
=(4.16 / (4.16 + 5.618)) / (5.76 / (5.76 + 3.774))
=0.425445 / 0.604154
=0.7042

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)
=(62.194 / 734.058) / (64.746 / 697.114)
=0.084726 / 0.092877
=0.9122

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 + 373.279) / 1158.219) / ((0 + 361.09) / 1035.661)
=0.322287 / 0.348657
=0.9244

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
=(87.735 - 0 - 121.821) / 1158.219
=-0.02943

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.

Ling Yue Services Group has a M-score of -2.76 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 -2.76 mean?
Ling Yue Services Group (HKSE:02165) has a Beneish M-Score of -2.76 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ling Yue Services Group and its competitors. According to the industry distribution chart, Ling Yue Services Group ranks #424 out of 1677 companies in the Real Estate industry, placing it in the top 25.3%.
Is Ling Yue Services Group's Beneish M-Score too high?
Ling Yue Services Group's current Beneish M-Score is -2.76. Based on the distribution chart, Ling Yue Services Group ranks #424 out of 1677 companies in the Real Estate industry, which is above the industry midpoint. Overall, Ling Yue Services Group has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ling Yue Services Group's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Ling Yue Services Group ranks #424 out of 1677 companies for Beneish M-Score. This puts Ling Yue Services Group 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Ling Yue Services Group and its competitors. Ling Yue Services Group's current Beneish M-Score is -2.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ling Yue Services Group stock overvalued right now?
Based on GuruFocus' analysis, Ling Yue Services Group (HKSE:02165) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$1.40, compared to a current price of HK$1.63 — trading 16.1% above its estimated fair value. The current Beneish M-Score is -2.76. Ling Yue Services Group's overall GF Score™ is 81/100 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 Ling Yue Services Group (HKSE:02165), the current Beneish M-Score is -2.76 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 Ling Yue Services Group (HKSE:02165) Overvalued in 2026?

Based on GuruFocus' analysis, Ling Yue Services Group stock appears to be overvalued. The current stock price of HK$1.63 is trading 16.1% above its estimated GF Value™ of HK$1.40. GuruFocus considers Ling Yue Services Group to be Modestly Overvalued.

Key valuation signals for HKSE:02165:

  • Beneish M-Score: -2.76
  • GF Value™: HK$1.40 vs. price of HK$1.63 (16.1% above fair value)
  • GF Score™: 81/100 with 2 warning signs

No single metric tells the full story. See the HKSE:02165 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Ling Yue Services Group Business Description

Address No. 151, 2nd Tianfu Street, 44th Floor, Tower A, Leading International Finance Center, Gaoxin District, Sichuan Province, Chengdu, CHN, 610000
Ling Yue Services Group Ltd is a property management company. The business of the company covers residential property services, commercial property services, urban services, public construction services, and others. The Group's revenue is derived from three core businesses namely property management services; value-added services to non-property owners; and community value-added services. The majority of revenue is derived from the property management services segment.
81GF Score

Get the complete analysis for HKSE:02165

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

HK$1.63
Price
HK$1.40
GF Value