Dekon Food and Agriculture Group (HKSE:02419) Beneish M-Score: -1.81 (As of Jul. 26, 2026)

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HKSE:02419 Dekon Food and Agriculture Group HKSE:02419
46 GF Score
Price HK$51.50
! 5 Warning Signs
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What is Dekon Food and Agriculture Group Beneish M-Score?

Dekon Food and Agriculture Group HKSE:02419 +1.98% 46 Beneish M-Score is -1.81 as of Jul. 26, 2026. GuruFocus rates HKSE:02419 with a GF Score™ of 46/100. The stock has 5 warning signs investors should review. Among 1,851 Consumer Packaged Goods companies, Dekon Food and Agriculture Group ranks worse than 82.71% 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 -1.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Dekon Food and Agriculture Group's Beneish M-Score or its related term are showing as below:

HKSE:02419' s Beneish M-Score Range Over the Past 10 Years
Min: -3.34   Med: -1.44   Max: 6.05
Current: -1.81

During the past 6 years, the highest Beneish M-Score of Dekon Food and Agriculture Group was 6.05. The lowest was -3.34. And the median was -1.44.

Dekon Food and Agriculture Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Dekon Food and Agriculture 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.

Dekon Food and Agriculture Group Beneish M-Score Chart

Dekon Food and Agriculture Group Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -3.34 6.05 -1.07 -1.81

Dekon Food and Agriculture Group Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 6.05 0.00 -1.07 0.00 -1.81

HKSE:02419 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Dekon Food and Agriculture 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.

Dekon Food and Agriculture Group Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Dekon Food and Agriculture Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Dekon Food and Agriculture Group's Beneish M-Score falls into.


HKSE:02419
46GF Score
Dekon Food and Agriculture Group HKSE:02419
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Dekon Food and Agriculture 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 Dekon Food and Agriculture 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 * 1.3967+0.528 * 1.6753+0.404 * 1.2243+0.892 * 1.0667+0.115 * 1.067
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9945+4.679 * -0.046789-0.327 * 0.9697
=-1.81

* 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$224 Mil.
Revenue was HK$25,584 Mil.
Gross Profit was HK$3,516 Mil.
Total Current Assets was HK$12,736 Mil.
Total Assets was HK$25,911 Mil.
Property, Plant and Equipment(Net PPE) was HK$11,005 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,467 Mil.
Selling, General, & Admin. Expense(SGA) was HK$726 Mil.
Total Current Liabilities was HK$9,224 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5,902 Mil.
Net Income was HK$1,583 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$2,796 Mil.
 Total Receivables was HK$150 Mil.
Revenue was HK$23,984 Mil.
Gross Profit was HK$5,522 Mil.
Total Current Assets was HK$12,080 Mil.
Total Assets was HK$23,990 Mil.
Property, Plant and Equipment(Net PPE) was HK$10,269 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,474 Mil.
Selling, General, & Admin. Expense(SGA) was HK$684 Mil.
Total Current Liabilities was HK$9,677 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,765 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)
=(223.919 / 25584.356) / (150.283 / 23984.217)
=0.008752 / 0.006266
=1.3967

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)
=(5521.544 / 23984.217) / (3515.837 / 25584.356)
=0.230216 / 0.137421
=1.6753

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 - (12735.598 + 11004.903) / 25910.75) / (1 - (12079.642 + 10268.7) / 23989.587)
=0.083759 / 0.068415
=1.2243

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
=25584.356 / 23984.217
=1.0667

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))
=(1473.826 / (1473.826 + 10268.7)) / (1467.053 / (1467.053 + 11004.903))
=0.125512 / 0.117628
=1.067

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)
=(725.56 / 25584.356) / (683.934 / 23984.217)
=0.02836 / 0.028516
=0.9945

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)
=((5902.313 + 9223.548) / 25910.75) / ((4765.414 + 9676.681) / 23989.587)
=0.583768 / 0.602015
=0.9697

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
=(1583.346 - 0 - 2795.696) / 25910.75
=-0.046789

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.

Dekon Food and Agriculture Group has a M-score of -1.81 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 -1.81 mean?
Dekon Food and Agriculture Group (HKSE:02419) has a Beneish M-Score of -1.81 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dekon Food and Agriculture Group and its competitors. According to the industry distribution chart, Dekon Food and Agriculture Group ranks #1531 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 82.7%.
Is Dekon Food and Agriculture Group's Beneish M-Score too high?
Dekon Food and Agriculture Group's current Beneish M-Score is -1.81. Based on the distribution chart, Dekon Food and Agriculture Group ranks #1531 out of 1851 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Dekon Food and Agriculture Group has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Dekon Food and Agriculture Group's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Dekon Food and Agriculture Group ranks #1531 out of 1851 companies for Beneish M-Score. This places Dekon Food and Agriculture Group in the lower 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Dekon Food and Agriculture Group and its competitors. Dekon Food and Agriculture Group's current Beneish M-Score is -1.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dekon Food and Agriculture Group stock overvalued right now?
Dekon Food and Agriculture Group (HKSE:02419) has a current Beneish M-Score of -1.81. The current Beneish M-Score is -1.81. Dekon Food and Agriculture Group's overall GF Score™ is 46/100 with 5 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 Dekon Food and Agriculture Group (HKSE:02419), the current Beneish M-Score is -1.81 as of Jul. 26, 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.

Dekon Food and Agriculture Group Business Description

Address 32 Lingang Road, Unit 901-909, 9th Floor, Building 2, Chengdu East Aviation Centre, Shuangliu District, Sichuan Province, Chengdu, CHN
Dekon Food and Agriculture Group is engaged in livestock and poultry breeding and farming enterprises in China. It is focused on the breeding and raising of pigs and yellow-feathered broilers. The company's business consists of three segments, namely pig, poultry and ancillary products. The Pig segment includes sales of market hogs, breeding pigs, market piglets and boar semen; the Poultry segment includes sales of yellow-feathered broilers, chicks and eggs; and the Ancillary segment includes sales of fresh meat, ingredients and others. The majority of the revenue is generated from the Pig segment.
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.

HK$51.50
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