EEKA Fashion Holdings (HKSE:03709) Beneish M-Score: -3.23 (As of Jul. 06, 2026)

What is EEKA Fashion Holdings Beneish M-Score?

EEKA Fashion Holdings HKSE:03709 +2.40% 81 Beneish M-Score is -3.23 as of Jul. 06, 2026. GuruFocus rates HKSE:03709 with a GF Score™ of 81/100 and a GF Value™ of HK$8.93 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,083 Retail - Cyclical companies, EEKA Fashion Holdings ranks better than 86.8% 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 -3.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:03709' s Beneish M-Score Range Over the Past 10 Years
Min: -3.71 Med: -2.84 Max: -0.2
Current: -3.23

During the past 13 years, the highest Beneish M-Score of EEKA Fashion Holdings was -0.20. The lowest was -3.71. And the median was -2.84.

EEKA Fashion Holdings Beneish M-Score Related Terms

EEKA Fashion Holdings Beneish M-Score Historical Data

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The historical data trend for EEKA Fashion 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.

EEKA Fashion Holdings Beneish M-Score Chart

EEKA Fashion Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-3.02

-3.71

-2.66

-2.85

-3.23

EEKA Fashion Holdings Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.66	0.00	-2.85	0.00	-3.23

HKSE:03709 vs TJX, ROST, BURL: Beneish M-Score Comparison

For the Apparel Retail subindustry, EEKA Fashion 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.

EEKA Fashion Holdings Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, EEKA Fashion Holdings's Beneish M-Score distribution charts can be found below:

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

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81GF Score

EEKA Fashion Holdings Ltd HKSE:03709

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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EEKA Fashion 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 EEKA Fashion Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0279

0.528 * 0.9983

0.404 * 0.9834

0.892 * 0.9872

0.115 * 1.1278

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9932

4.679 * -0.162267

0.327 * 1.0425

-3.23

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was HK$889 Mil.
Revenue was HK$6,944 Mil.
Gross Profit was HK$5,316 Mil.
Total Current Assets was HK$3,762 Mil.
Total Assets was HK$7,887 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,668 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,085 Mil.
Selling, General, & Admin. Expense(SGA) was HK$4,586 Mil.
Total Current Liabilities was HK$1,961 Mil.
Long-Term Debt & Capital Lease Obligation was HK$568 Mil.
Net Income was HK$439 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$1,718 Mil.

Total Receivables was HK$876 Mil.
Revenue was HK$7,034 Mil.
Gross Profit was HK$5,376 Mil.
Total Current Assets was HK$3,600 Mil.
Total Assets was HK$7,323 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,403 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,123 Mil.
Selling, General, & Admin. Expense(SGA) was HK$4,678 Mil.
Total Current Liabilities was HK$1,894 Mil.
Long-Term Debt & Capital Lease Obligation was HK$358 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)
	=	(889.034 / 6944.078)	/	(876.2 / 7034.396)
	=	0.128028	/	0.124559
	=	1.0279

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)
	=	(5376.318 / 7034.396)	/	(5316.262 / 6944.078)
	=	0.76429	/	0.765582
	=	0.9983

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 - (3761.542 + 1667.79) / 7886.813)	/	(1 - (3599.89 + 1402.996) / 7323.46)
	=	0.311594	/	0.316869
	=	0.9834

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
	=	6944.078	/	7034.396
	=	0.9872

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))
	=	(1123.014 / (1123.014 + 1402.996))	/	(1085.262 / (1085.262 + 1667.79))
	=	0.44458	/	0.394203
	=	1.1278

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)
	=	(4586.086 / 6944.078)	/	(4677.643 / 7034.396)
	=	0.660431	/	0.664967
	=	0.9932

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)
	=	((567.76 + 1960.784) / 7886.813)	/	((358.216 + 1893.896) / 7323.46)
	=	0.320604	/	0.30752
	=	1.0425

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
	=	(438.605 - 0	-	1718.377)	/	7886.813
	=	-0.162267

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.

EEKA Fashion Holdings has a M-score of -3.23 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 -3.23 mean?

EEKA Fashion Holdings (HKSE:03709) has a Beneish M-Score of -3.23 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on EEKA Fashion Holdings and its competitors. According to the industry distribution chart, EEKA Fashion Holdings ranks #143 out of 1083 companies in the Retail - Cyclical industry, placing it in the top 13.2%.

Is EEKA Fashion Holdings' Beneish M-Score too high?

EEKA Fashion Holdings' current Beneish M-Score is -3.23. Based on the distribution chart, EEKA Fashion Holdings ranks #143 out of 1083 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, EEKA Fashion Holdings has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does EEKA Fashion Holdings' Beneish M-Score compare to TJX and ROST?

According to the Retail - Cyclical industry distribution chart, EEKA Fashion Holdings ranks #143 out of 1083 companies for Beneish M-Score. This places EEKA Fashion Holdings in the top 13% 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 Retail - Cyclical company?

A good Beneish M-Score depends on the Retail - Cyclical 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 EEKA Fashion Holdings and its competitors. EEKA Fashion Holdings's current Beneish M-Score is -3.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is EEKA Fashion Holdings stock overvalued right now?

Based on GuruFocus' analysis, EEKA Fashion Holdings (HKSE:03709) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$8.93, compared to a current price of HK$5.11 — trading 42.8% below its estimated fair value. The current Beneish M-Score is -3.23. EEKA Fashion Holdings' overall GF Score™ is 81/100 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 EEKA Fashion Holdings (HKSE:03709), the current Beneish M-Score is -3.23 as of Jul. 06, 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 EEKA Fashion Holdings (HKSE:03709) Overvalued in 2026?

Based on GuruFocus' analysis, EEKA Fashion Holdings stock appears to be undervalued. The current stock price of HK$5.11 is trading 42.8% below its estimated GF Value™ of HK$8.93. GuruFocus considers EEKA Fashion Holdings to be Significantly Undervalued.

Key valuation signals for HKSE:03709:

Beneish M-Score: -3.23
GF Value™: HK$8.93 vs. price of HK$5.11 (42.8% below fair value)
GF Score™: 81/100 with 3 warning signs

No single metric tells the full story. See the HKSE:03709 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

EEKA Fashion Holdings Business Description

Industry Consumer Cyclical Retail - Cyclical

Comparable Companies HKSE:00709 HKSE:01657 HKSE:03860 HKSE:02528 HKSE:01817 HKSE:00375 HKSE:00330 HKSE:00483 HKSE:01368 HKSE:06110 XMAD:ITX TJX TSE:9983 ROST LSE:NXT BURL BOM:500251 LULU TSX:ATZ GAP

Address Terra 4th Road, 26th Floor, B Block, Terra Licheng Building, Futian District, Guangdong Province, Shenzhen, CHN, 518040

Website http://www.eekagroup.com

EEKA Fashion Holdings Ltd is a Chinese company that manufactures and sells women's clothing. It have three high-end brands, namely Koradior, La Koradior, and Koradior Elsewhere, which cater to women aged between 30 and 45. Company offer products such as dresses, skirts, trousers, shirts, knitwear, vests, jackets, overcoats, scarves, and accessories. The company's primary activities include designing, retailing, and wholesaling women's wear in China. It mainly sell products directly to customers through their retail stores but also have a presence on third-party e-commerce platforms and distributor-operated retail stores. The company generates nearly all of its revenue from sales in China.

81GF Score

Get the complete analysis for HKSE:03709

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$5.11

Price

HK$8.93

GF Value

View HKSE:03709 Analysis

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