Unity Enterprise Holdings (HKSE:02195) Beneish M-Score: -3.53 (As of Jul. 08, 2026)


HKSE:02195 Unity Enterprise Holdings Ltd HKSE:02195
69 GF Score
Price HK$0.30
GF Value HK$1.09
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Unity Enterprise Holdings Beneish M-Score?

Unity Enterprise Holdings HKSE:02195 69 Beneish M-Score is -3.53 as of Jul. 08, 2026. GuruFocus rates HKSE:02195 with a GF Score™ of 69/100 and a GF Value™ of HK$1.09 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,700 Construction companies, Unity Enterprise Holdings ranks better than 92.53% 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 -3.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02195' s Beneish M-Score Range Over the Past 10 Years
Min: -4.16   Med: -2.66   Max: -0.86
Current: -3.53

During the past 10 years, the highest Beneish M-Score of Unity Enterprise Holdings was -0.86. The lowest was -4.16. And the median was -2.66.

Unity Enterprise Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Unity Enterprise 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.

Unity Enterprise Holdings Beneish M-Score Chart

Unity Enterprise 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 -0.86 -1.74 0.00 0.00 -3.53

Unity Enterprise Holdings Semi-Annual Data
Dec16 Dec17 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 Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 -3.53

HKSE:02195 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Unity Enterprise 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.

Unity Enterprise Holdings Beneish M-Score vs Construction Industry

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

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


HKSE:02195
69GF Score
Unity Enterprise Holdings Ltd HKSE:02195
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Unity Enterprise 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 Unity Enterprise 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 * 0.6027+0.528 * -0.6252+0.404 * 3.5358+0.892 * 1.3838+0.115 * 1.1508
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9311+4.679 * -0.229408-0.327 * 1.4468
=-3.53

* 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$130.6 Mil.
Revenue was HK$209.7 Mil.
Gross Profit was HK$3.2 Mil.
Total Current Assets was HK$170.2 Mil.
Total Assets was HK$250.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$1.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$8.4 Mil.
Total Current Liabilities was HK$159.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.6 Mil.
Net Income was HK$-54.9 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$2.7 Mil.
 Total Receivables was HK$156.6 Mil.
Revenue was HK$151.5 Mil.
Gross Profit was HK$-1.5 Mil.
Total Current Assets was HK$196.9 Mil.
Total Assets was HK$216.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.5 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$6.5 Mil.
Total Current Liabilities was HK$95.9 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)
=(130.626 / 209.671) / (156.626 / 151.522)
=0.623005 / 1.033685
=0.6027

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)
=(-1.457 / 151.522) / (3.225 / 209.671)
=-0.009616 / 0.015381
=-0.6252

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 - (170.172 + 1.08) / 250.928) / (1 - (196.877 + 0.462) / 216.809)
=0.317525 / 0.089803
=3.5358

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
=209.671 / 151.522
=1.3838

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))
=(0.346 / (0.346 + 0.462)) / (0.64 / (0.64 + 1.08))
=0.428218 / 0.372093
=1.1508

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)
=(8.406 / 209.671) / (6.524 / 151.522)
=0.040091 / 0.043056
=0.9311

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)
=((1.59 + 158.993) / 250.928) / ((0 + 95.897) / 216.809)
=0.639956 / 0.442311
=1.4468

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
=(-54.851 - 0 - 2.714) / 250.928
=-0.229408

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.

Unity Enterprise Holdings has a M-score of -3.53 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 -3.53 mean?
Unity Enterprise Holdings (HKSE:02195) has a Beneish M-Score of -3.53 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Unity Enterprise Holdings and its competitors. According to the industry distribution chart, Unity Enterprise Holdings ranks #127 out of 1700 companies in the Construction industry, placing it in the top 7.5%.
Is Unity Enterprise Holdings' Beneish M-Score too high?
Unity Enterprise Holdings' current Beneish M-Score is -3.53. Based on the distribution chart, Unity Enterprise Holdings ranks #127 out of 1700 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Unity Enterprise Holdings has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Unity Enterprise Holdings' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Unity Enterprise Holdings ranks #127 out of 1700 companies for Beneish M-Score. This places Unity Enterprise Holdings in the top 8% 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 Unity Enterprise Holdings and its competitors. Unity Enterprise Holdings's current Beneish M-Score is -3.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Unity Enterprise Holdings stock overvalued right now?
Based on GuruFocus' analysis, Unity Enterprise Holdings (HKSE:02195) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.09, compared to a current price of HK$0.30 — trading 72.9% below its estimated fair value. The current Beneish M-Score is -3.53. Unity Enterprise Holdings' overall GF Score™ is 69/100 with 3 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 Unity Enterprise Holdings (HKSE:02195), the current Beneish M-Score is -3.53 as of Jul. 08, 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 Unity Enterprise Holdings (HKSE:02195) Overvalued in 2026?

Based on GuruFocus' analysis, Unity Enterprise Holdings stock appears to be undervalued. The current stock price of HK$0.30 is trading 72.9% below its estimated GF Value™ of HK$1.09. GuruFocus considers Unity Enterprise Holdings to be Possible Value Trap.

Key valuation signals for HKSE:02195:

  • Beneish M-Score: -3.53
  • GF Value™: HK$1.09 vs. price of HK$0.30 (72.9% below fair value)
  • GF Score™: 69/100 with 3 warning signs

No single metric tells the full story. See the HKSE:02195 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Unity Enterprise Holdings Business Description

Address 1 Tsat Po Street, Room 1610, 16th Floor, Horizon East, San Po Kong, Kowloon, Hong Kong, HKG
Unity Enterprise Holdings Ltd is a contractor specializing in RMAA. It undertook repair and maintenance services, involving the upkeep, restoration and improvement of existing buildings and facilities, including the services of re-roofing, external and internal walls refurbishment, floor screeding and retiling, spalling repair, scaffolding, repairing and replacement of windows and door, plastering, painting, improvement of fire services system, plumbing and drainage works. In addition, the company also provides ancillary services, such as alteration and addition work of building layout and structural works, design of new structural works and checking of structural adequacy of existing constructions and interior decoration works to the existing premises. Revenue is generated from Hong Kong.
69GF Score

Get the complete analysis for HKSE:02195

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

HK$0.30
Price
HK$1.09
GF Value