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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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Watts International Maritime Co's Beneish M-Score or its related term are showing as below:
HKSE:02258'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.56 Med: -2.48 Max: -1.97
Current: -2.56
During the past 11 years, the highest Beneish M-Score of Watts International Maritime Co was -1.97. The lowest was -2.56. And the median was -2.48.
* 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.
Watts International Maritime Co Beneish M-Score Chart
Watts International Maritime Co Beneish M-Score Competitor Comparison
For the Infrastructure Operations subindustry, Watts International Maritime 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.
Watts International Maritime Co Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Watts International Maritime Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Watts International Maritime Co's Beneish M-Score falls into.
Watts International Maritime 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 Watts International Maritime 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 * 0.8248
+
0.528 * 0.6649
+
0.404 * 0.844
+
0.892 * 1.2677
+
0.115 * 1.1605
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7398
+
4.679 * 0.005183
-
0.327 * 1.0283
=
-2.56
* 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))
=
(16.873 / (16.873 + 59.715))
/
(14.961 / (14.961 + 63.846))
=
0.220309
/
0.189844
=
1.1605
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
=
(36.565 - 0
-
16.271)
/
3915.601
=
0.005183
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.
Watts International Maritime Co has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.
Watts International Maritime Co (HKSE:02258) has a Beneish M-Score of -2.56 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Watts International Maritime Co and its competitors. According to the industry distribution chart, Watts International Maritime Co ranks #743 out of 1705 companies in the Construction industry, placing it in the top 43.6%.
Is Watts International Maritime Co's Beneish M-Score too high?
Watts International Maritime Co's current Beneish M-Score is -2.56. Based on the distribution chart, Watts International Maritime Co ranks #743 out of 1705 companies in the Construction industry, which is above the industry midpoint. Overall, Watts International Maritime Co has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Watts International Maritime Co's Beneish M-Score compare to competitors?
According to the Construction industry distribution chart, Watts International Maritime Co ranks #743 out of 1705 companies for Beneish M-Score. This puts Watts International Maritime 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 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 Watts International Maritime Co and its competitors. Watts International Maritime Co's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Watts International Maritime Co stock overvalued right now?
Based on GuruFocus' analysis, Watts International Maritime Co (HKSE:02258) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.21, compared to a current price of HK$0.33 — trading 57.1% above its estimated fair value. The current Beneish M-Score is -2.56. Watts International Maritime Co's overall GF Score™ is 46/100 with 6 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 Watts International Maritime Co (HKSE:02258), the current Beneish M-Score is -2.56 as of Aug. 10, 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 Watts International Maritime Co (HKSE:02258) Overvalued in 2026?
Based on GuruFocus' analysis, Watts International Maritime Co stock appears to be overvalued.
The current stock price of HK$0.33 is trading 57.1% above its estimated GF Value™ of HK$0.21.
GuruFocus considers Watts International Maritime Co to be Significantly Overvalued.
Key valuation signals for HKSE:02258:
Beneish M-Score: -2.56
GF Value™: HK$0.21 vs. price of HK$0.33 (57.1% above fair value)
No single metric tells the full story. See the HKSE:02258 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Watts International Maritime Co Ltd is a port, waterway, maritime engineering and municipal public engineering services provider in the PRC and provides services of port infrastructure, waterway engineering, construction of public infrastructure within cities, urban greening and construction of buildings. Its segments include Marine construction, including infrastructure construction of ports, waterway engineering and other services; and Municipal public construction, including construction of public infrastructure within cities, urban greening and construction of buildings.
46GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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