Distinct Healthcare Holdings (HKSE:02677) Beneish M-Score: -2.57 (As of Aug. 13, 2026)

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HKSE:02677 Distinct Healthcare Holdings Ltd HKSE:02677
9 GF Score
Price HK$22.84
! 3 Warning Signs
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What is Distinct Healthcare Holdings Beneish M-Score?

Distinct Healthcare Holdings HKSE:02677 +0.71% 9 Beneish M-Score is -2.57 as of Aug. 13, 2026. GuruFocus rates HKSE:02677 with a GF Score™ of 9/100. The stock has 3 warning signs investors should review. Among 625 Healthcare Providers & Services companies, Distinct Healthcare Holdings ranks worse than 51.04% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02677' s Beneish M-Score Range Over the Past 10 Years
Min: -3.24   Med: -2.91   Max: -2.57
Current: -2.57

During the past 4 years, the highest Beneish M-Score of Distinct Healthcare Holdings was -2.57. The lowest was -3.24. And the median was -2.91.

Distinct Healthcare Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Distinct Healthcare 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.

Distinct Healthcare Holdings Beneish M-Score Chart

Distinct Healthcare Holdings Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.24 -2.57

Distinct Healthcare Holdings Semi-Annual Data
Dec22 Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -3.24 -2.57

HKSE:02677 vs HCA, THC, DVA: Beneish M-Score Comparison

For the Medical Care Facilities subindustry, Distinct Healthcare 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.

Distinct Healthcare Holdings Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Distinct Healthcare Holdings's Beneish M-Score distribution charts can be found below:

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


HKSE:02677
9GF Score
Distinct Healthcare Holdings Ltd HKSE:02677
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Distinct Healthcare 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 Distinct Healthcare 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 * 1.0127+0.528 * 0.9399+0.404 * 1.0311+0.892 * 1.1491+0.115 * 0.9131
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7519+4.679 * -0.057005-0.327 * 0.9402
=-2.57

* 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$77 Mil.
Revenue was HK$1,176 Mil.
Gross Profit was HK$295 Mil.
Total Current Assets was HK$732 Mil.
Total Assets was HK$1,476 Mil.
Property, Plant and Equipment(Net PPE) was HK$491 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$147 Mil.
Selling, General, & Admin. Expense(SGA) was HK$259 Mil.
Total Current Liabilities was HK$2,975 Mil.
Long-Term Debt & Capital Lease Obligation was HK$244 Mil.
Net Income was HK$149 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$233 Mil.
 Total Receivables was HK$66 Mil.
Revenue was HK$1,023 Mil.
Gross Profit was HK$241 Mil.
Total Current Assets was HK$635 Mil.
Total Assets was HK$1,415 Mil.
Property, Plant and Equipment(Net PPE) was HK$545 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$145 Mil.
Selling, General, & Admin. Expense(SGA) was HK$299 Mil.
Total Current Liabilities was HK$3,006 Mil.
Long-Term Debt & Capital Lease Obligation was HK$275 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)
=(77.093 / 1176.012) / (66.252 / 1023.447)
=0.065555 / 0.064734
=1.0127

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)
=(241.297 / 1023.447) / (295.006 / 1176.012)
=0.235769 / 0.250853
=0.9399

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 - (732.268 + 491.461) / 1476.387) / (1 - (634.813 + 545.337) / 1415.01)
=0.171133 / 0.165978
=1.0311

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
=1176.012 / 1023.447
=1.1491

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))
=(145.027 / (145.027 + 545.337)) / (146.849 / (146.849 + 491.461))
=0.210073 / 0.230059
=0.9131

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)
=(258.67 / 1176.012) / (299.384 / 1023.447)
=0.219955 / 0.292525
=0.7519

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)
=((244.266 + 2974.933) / 1476.387) / ((275.236 + 3006.329) / 1415.01)
=2.180457 / 2.319111
=0.9402

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
=(149.209 - 0 - 233.371) / 1476.387
=-0.057005

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.

Distinct Healthcare Holdings has a M-score of -2.57 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 -2.57 mean?
Distinct Healthcare Holdings (HKSE:02677) has a Beneish M-Score of -2.57 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Distinct Healthcare Holdings and its competitors. According to the industry distribution chart, Distinct Healthcare Holdings ranks #319 out of 625 companies in the Healthcare Providers & Services industry, placing it in the top 51%.
Is Distinct Healthcare Holdings' Beneish M-Score too high?
Distinct Healthcare Holdings' current Beneish M-Score is -2.57. Based on the distribution chart, Distinct Healthcare Holdings ranks #319 out of 625 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, Distinct Healthcare Holdings has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Distinct Healthcare Holdings' Beneish M-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Distinct Healthcare Holdings ranks #319 out of 625 companies for Beneish M-Score. This places Distinct Healthcare Holdings 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 Distinct Healthcare Holdings and its competitors. Distinct Healthcare Holdings's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Distinct Healthcare Holdings stock overvalued right now?
Distinct Healthcare Holdings (HKSE:02677) has a current Beneish M-Score of -2.57. The current Beneish M-Score is -2.57. Distinct Healthcare Holdings' overall GF Score™ is 9/100 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 Distinct Healthcare Holdings (HKSE:02677), the current Beneish M-Score is -2.57 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.

Distinct Healthcare Holdings Business Description

Address Gongye 4th Road, Floor 4, Tower A, Wanrong Building, Nanshan District, Shenzhen, CHN
Distinct Healthcare Holdings Ltd is principally engaged in the provision of healthcare services through healthcare service institutions and tele-healthcare service platform mainly in the People's Republic of China. The company owns and operates healthcare service institutions and tele-healthcare service platform across China, including clinics and hospitals. Additionally, it operates general practice clinics in Singapore and Malaysia. The company derives revenue from providing healthcare services. Geographically, it operates its business mainly in the Chinese Mainland.
9GF 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$22.84
Price