Herbs Generation Group Holdings (HKSE:02593) Beneish M-Score: -2.94 (As of Aug. 13, 2026)

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HKSE:02593 Herbs Generation Group Holdings Ltd HKSE:02593
19 GF Score
Price HK$1.01
! 2 Warning Signs
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What is Herbs Generation Group Holdings Beneish M-Score?

Herbs Generation Group Holdings HKSE:02593 +1.51% 19 Beneish M-Score is -2.94 as of Aug. 13, 2026. GuruFocus rates HKSE:02593 with a GF Score™ of 19/100. The stock has 2 warning signs investors should review. Among 1,855 Consumer Packaged Goods companies, Herbs Generation Group Holdings ranks better than 80.59% 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 -2.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02593' s Beneish M-Score Range Over the Past 10 Years
Min: -2.94   Med: -2.57   Max: -1.97
Current: -2.94

During the past 5 years, the highest Beneish M-Score of Herbs Generation Group Holdings was -1.97. The lowest was -2.94. And the median was -2.57.

Herbs Generation Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Herbs Generation Group 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.

Herbs Generation Group Holdings Beneish M-Score Chart

Herbs Generation Group Holdings Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.57 -1.97 -2.94

Herbs Generation Group Holdings Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -2.57 0.00 -1.97 0.00 -2.94

HKSE:02593 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Herbs Generation Group 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.

Herbs Generation Group Holdings Beneish M-Score vs Consumer Packaged Goods Industry

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

* The bar in red indicates where Herbs Generation Group Holdings's Beneish M-Score falls into.


HKSE:02593
19GF Score
Herbs Generation Group Holdings Ltd HKSE:02593
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Herbs Generation Group 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 Herbs Generation Group 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 * 1.0034+0.528 * 1.0726+0.404 * 1.5848+0.892 * 0.9282+0.115 * 0.773
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.391+4.679 * -0.115829-0.327 * 1.1292
=-2.94

* 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$24.6 Mil.
Revenue was HK$227.9 Mil.
Gross Profit was HK$157.5 Mil.
Total Current Assets was HK$159.9 Mil.
Total Assets was HK$194.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$27.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$22.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$187.0 Mil.
Total Current Liabilities was HK$41.2 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6.8 Mil.
Net Income was HK$-23.0 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-0.5 Mil.
 Total Receivables was HK$26.4 Mil.
Revenue was HK$245.5 Mil.
Gross Profit was HK$182.1 Mil.
Total Current Assets was HK$197.5 Mil.
Total Assets was HK$242.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$39.5 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$144.9 Mil.
Total Current Liabilities was HK$37.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$15.4 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)
=(24.578 / 227.868) / (26.388 / 245.49)
=0.107861 / 0.107491
=1.0034

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)
=(182.056 / 245.49) / (157.549 / 227.868)
=0.741603 / 0.691405
=1.0726

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 - (159.88 + 27.794) / 194.131) / (1 - (197.47 + 39.45) / 241.999)
=0.033261 / 0.020988
=1.5848

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
=227.868 / 245.49
=0.9282

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))
=(20.998 / (20.998 + 39.45)) / (22.683 / (22.683 + 27.794))
=0.347373 / 0.449373
=0.773

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)
=(187.027 / 227.868) / (144.853 / 245.49)
=0.820769 / 0.590057
=1.391

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)
=((6.784 + 41.171) / 194.131) / ((15.398 + 37.541) / 241.999)
=0.247024 / 0.218757
=1.1292

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
=(-23.009 - 0 - -0.523) / 194.131
=-0.115829

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.

Herbs Generation Group Holdings has a M-score of -2.94 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 -2.94 mean?
Herbs Generation Group Holdings (HKSE:02593) has a Beneish M-Score of -2.94 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Herbs Generation Group Holdings and its competitors. According to the industry distribution chart, Herbs Generation Group Holdings ranks #360 out of 1855 companies in the Consumer Packaged Goods industry, placing it in the top 19.4%.
Is Herbs Generation Group Holdings' Beneish M-Score too high?
Herbs Generation Group Holdings' current Beneish M-Score is -2.94. Based on the distribution chart, Herbs Generation Group Holdings ranks #360 out of 1855 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Herbs Generation Group Holdings has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Herbs Generation Group Holdings' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Herbs Generation Group Holdings ranks #360 out of 1855 companies for Beneish M-Score. This places Herbs Generation Group Holdings in the top 19% 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 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 Herbs Generation Group Holdings and its competitors. Herbs Generation Group Holdings's current Beneish M-Score is -2.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Herbs Generation Group Holdings stock overvalued right now?
Herbs Generation Group Holdings (HKSE:02593) has a current Beneish M-Score of -2.94. The current Beneish M-Score is -2.94. Herbs Generation Group Holdings' overall GF Score™ is 19/100 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 Herbs Generation Group Holdings (HKSE:02593), the current Beneish M-Score is -2.94 as of Aug. 13, 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.

Herbs Generation Group Holdings Business Description

Address No. 838 Lai Chi Kok Road, Units A7 & A8, 6th floor of NCB Innovation Centre, Laford Centre, Kowloon, Hong Kong, HKG
Herbs Generation Group Holdings Ltd is a provider of health supplements and cosmetics and skincare products in Hong Kong. It has focus on the development, sales and marketing of products under own brands through a multi-channel sales model. Its brand include Herbs, ZINO, Classic, Umeya, Energie, etc. The company products are categorized into (i) health supplements, mainly referring to orally consumed health products which generally take the forms of pills, tablets or liquids for oral intake. (ii) cosmetics and skincare products, which mainly include beauty and skincare beauty products for external use for maintenance and/or improvement of skin conditions. (iii) health supplements for pets, which mainly include orally consumed health products for pets.
19GF 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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