Voicecomm International (HKSE:02495) Beneish M-Score: -2.17 (As of Sep. 05, 2026)

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HKSE:02495 Voicecomm International Ltd HKSE:02495
45 GF Score
Price HK$29.74
! 6 Warning Signs
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What is Voicecomm International Beneish M-Score?

Voicecomm International HKSE:02495 +1.16% 45 Beneish M-Score is -2.17 as of Sep. 05, 2026. GuruFocus rates HKSE:02495 with a GF Score™ of 45/100. The stock has 6 warning signs investors should review. Among 2,640 Software companies, Voicecomm International ranks worse than 69.7% 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 -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02495' s Beneish M-Score Range Over the Past 10 Years
Min: -2.84   Med: -2.31   Max: -2.06
Current: -2.17

During the past 6 years, the highest Beneish M-Score of Voicecomm International was -2.06. The lowest was -2.84. And the median was -2.31.

Voicecomm International Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Voicecomm International'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.

Voicecomm International Beneish M-Score Chart

Voicecomm International Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.44 -2.06 -2.84 -2.17

Voicecomm International Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -2.06 0.00 -2.84 0.00 -2.17

HKSE:02495 vs MSFT, PLTR, ORCL: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Voicecomm International'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.

Voicecomm International Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Voicecomm International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Voicecomm International's Beneish M-Score falls into.


HKSE:02495
45GF Score
Voicecomm International Ltd HKSE:02495
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Voicecomm International 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 Voicecomm International 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 * 1.1855+0.528 * 0.9904+0.404 * 1.6609+0.892 * 1.1067+0.115 * 0.6949
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8256+4.679 * -0.025936-0.327 * 1.2744
=-2.17

* 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$1,272 Mil.
Revenue was HK$1,112 Mil.
Gross Profit was HK$609 Mil.
Total Current Assets was HK$1,868 Mil.
Total Assets was HK$3,282 Mil.
Property, Plant and Equipment(Net PPE) was HK$789 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$132 Mil.
Selling, General, & Admin. Expense(SGA) was HK$97 Mil.
Total Current Liabilities was HK$1,376 Mil.
Long-Term Debt & Capital Lease Obligation was HK$7 Mil.
Net Income was HK$150 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$235 Mil.
 Total Receivables was HK$970 Mil.
Revenue was HK$1,005 Mil.
Gross Profit was HK$545 Mil.
Total Current Assets was HK$1,633 Mil.
Total Assets was HK$2,557 Mil.
Property, Plant and Equipment(Net PPE) was HK$631 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$70 Mil.
Selling, General, & Admin. Expense(SGA) was HK$106 Mil.
Total Current Liabilities was HK$834 Mil.
Long-Term Debt & Capital Lease Obligation was HK$11 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)
=(1272.148 / 1112.385) / (969.581 / 1005.121)
=1.143622 / 0.964641
=1.1855

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)
=(544.963 / 1005.121) / (608.975 / 1112.385)
=0.542186 / 0.54745
=0.9904

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 - (1868.49 + 789.316) / 3282.326) / (1 - (1633.387 + 631.054) / 2557.417)
=0.190268 / 0.114559
=1.6609

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
=1112.385 / 1005.121
=1.1067

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))
=(69.816 / (69.816 + 631.054)) / (132.072 / (132.072 + 789.316))
=0.099613 / 0.14334
=0.6949

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)
=(96.514 / 1112.385) / (105.624 / 1005.121)
=0.086763 / 0.105086
=0.8256

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)
=((6.53 + 1376.229) / 3282.326) / ((11.326 + 834.076) / 2557.417)
=0.421274 / 0.330569
=1.2744

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
=(149.673 - 0 - 234.805) / 3282.326
=-0.025936

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.

Voicecomm International has a M-score of -2.17 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 -2.17 mean?
Voicecomm International (HKSE:02495) has a Beneish M-Score of -2.17 as of Sep. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Voicecomm International and its competitors. According to the industry distribution chart, Voicecomm International ranks #1840 out of 2640 companies in the Software industry, placing it in the top 69.7%.
Is Voicecomm International's Beneish M-Score too high?
Voicecomm International's current Beneish M-Score is -2.17. Based on the distribution chart, Voicecomm International ranks #1840 out of 2640 companies in the Software industry, which is below the industry midpoint. Overall, Voicecomm International has a GF Score™ of 45/100, reflecting its overall financial health beyond just this single metric.
How does Voicecomm International's Beneish M-Score compare to MSFT and PLTR?
According to the Software industry distribution chart, Voicecomm International ranks #1840 out of 2640 companies for Beneish M-Score. This places Voicecomm International 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 Software company?
A good Beneish M-Score depends on the Software 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 Voicecomm International and its competitors. Voicecomm International's current Beneish M-Score is -2.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Voicecomm International stock overvalued right now?
Voicecomm International (HKSE:02495) has a current Beneish M-Score of -2.17. The current Beneish M-Score is -2.17. Voicecomm International's overall GF Score™ is 45/100 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 Voicecomm International (HKSE:02495), the current Beneish M-Score is -2.17 as of Sep. 05, 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.

Voicecomm International Business Description

Address Gudai Road, 7DEF, Building G, Weijing Center, No. 2337, Minhang District, Shanghai, CHN
Voicecomm Technology Co Ltd is an IT solution provider in China. It provide services for enterprise-level users to improve the level of convenience and intelligence for their information exchanges and business interactions. The solutions are built upon technologies comprising core conversational AI technologies, unified communication technologies, and other AI and computer technologies. It offers Voicecomm Brain, technology infrastructure, and Voicecomm Suites. The principal activities of the group are provision of on-premised integrated enterprise-level solutions including software license, hardware and services.
45GF 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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