Homeland Interactive Technology (HKSE:03798) Beneish M-Score: -3.11 (As of Aug. 31, 2026)

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HKSE:03798 Homeland Interactive Technology Ltd HKSE:03798
88 GF Score
Price HK$1.20
GF Value HK$1.42
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Homeland Interactive Technology Beneish M-Score?

Homeland Interactive Technology HKSE:03798 +4.35% 88 Beneish M-Score is -3.11 as of Aug. 31, 2026. GuruFocus rates HKSE:03798 with a GF Score™ of 88/100 and a GF Value™ of HK$1.42 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 527 Interactive Media companies, Homeland Interactive Technology ranks better than 71.73% 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 -3.11 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:03798' s Beneish M-Score Range Over the Past 10 Years
Min: -3.11   Med: -1.97   Max: -0.05
Current: -3.11

During the past 10 years, the highest Beneish M-Score of Homeland Interactive Technology was -0.05. The lowest was -3.11. And the median was -1.97.

Homeland Interactive Technology Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Homeland Interactive Technology'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.

Homeland Interactive Technology Beneish M-Score Chart

Homeland Interactive Technology Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.46 -1.69 -2.25 -2.42 -3.11

Homeland Interactive Technology Semi-Annual Data
Dec16 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.25 0.00 -2.42 0.00 -3.11

HKSE:03798 vs NTES, TTWO, RBLX: Beneish M-Score Comparison

For the Electronic Gaming & Multimedia subindustry, Homeland Interactive Technology'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.

Homeland Interactive Technology Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Homeland Interactive Technology's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Homeland Interactive Technology's Beneish M-Score falls into.


HKSE:03798
88GF Score
Homeland Interactive Technology Ltd HKSE:03798
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Homeland Interactive Technology 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 Homeland Interactive Technology 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 * 0.8133+0.528 * 0.8742+0.404 * 1.0947+0.892 * 1.0068+0.115 * 1.3892
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7167+4.679 * -0.11374-0.327 * 1.0067
=-3.11

* 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$299 Mil.
Revenue was HK$1,490 Mil.
Gross Profit was HK$774 Mil.
Total Current Assets was HK$1,843 Mil.
Total Assets was HK$2,412 Mil.
Property, Plant and Equipment(Net PPE) was HK$182 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$62 Mil.
Selling, General, & Admin. Expense(SGA) was HK$508 Mil.
Total Current Liabilities was HK$265 Mil.
Long-Term Debt & Capital Lease Obligation was HK$12 Mil.
Net Income was HK$65 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$340 Mil.
 Total Receivables was HK$365 Mil.
Revenue was HK$1,480 Mil.
Gross Profit was HK$672 Mil.
Total Current Assets was HK$1,883 Mil.
Total Assets was HK$2,314 Mil.
Property, Plant and Equipment(Net PPE) was HK$91 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$50 Mil.
Selling, General, & Admin. Expense(SGA) was HK$704 Mil.
Total Current Liabilities was HK$250 Mil.
Long-Term Debt & Capital Lease Obligation was HK$14 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)
=(299.259 / 1489.996) / (365.458 / 1479.879)
=0.200846 / 0.246951
=0.8133

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)
=(672.191 / 1479.879) / (774.158 / 1489.996)
=0.45422 / 0.519571
=0.8742

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 - (1842.54 + 182.132) / 2412.13) / (1 - (1883.155 + 91.099) / 2313.763)
=0.160629 / 0.146735
=1.0947

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
=1489.996 / 1479.879
=1.0068

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))
=(49.989 / (49.989 + 91.099)) / (62.357 / (62.357 + 182.132))
=0.354311 / 0.25505
=1.3892

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)
=(508.339 / 1489.996) / (704.487 / 1479.879)
=0.341168 / 0.476044
=0.7167

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)
=((11.929 + 265.036) / 2412.13) / ((13.76 + 250.138) / 2313.763)
=0.114822 / 0.114056
=1.0067

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
=(65.332 - 0 - 339.688) / 2412.13
=-0.11374

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.

Homeland Interactive Technology has a M-score of -3.11 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 -3.11 mean?
Homeland Interactive Technology (HKSE:03798) has a Beneish M-Score of -3.11 as of Aug. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Homeland Interactive Technology and its competitors. According to the industry distribution chart, Homeland Interactive Technology ranks #149 out of 527 companies in the Interactive Media industry, placing it in the top 28.3%.
Is Homeland Interactive Technology's Beneish M-Score too high?
Homeland Interactive Technology's current Beneish M-Score is -3.11. Based on the distribution chart, Homeland Interactive Technology ranks #149 out of 527 companies in the Interactive Media industry, which is above the industry midpoint. Overall, Homeland Interactive Technology has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Homeland Interactive Technology's Beneish M-Score compare to NTES and TTWO?
According to the Interactive Media industry distribution chart, Homeland Interactive Technology ranks #149 out of 527 companies for Beneish M-Score. This puts Homeland Interactive Technology in the upper 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 an Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 Homeland Interactive Technology and its competitors. Homeland Interactive Technology's current Beneish M-Score is -3.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Homeland Interactive Technology stock overvalued right now?
Based on GuruFocus' analysis, Homeland Interactive Technology (HKSE:03798) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$1.42, compared to a current price of HK$1.20 — trading 15.5% below its estimated fair value. The current Beneish M-Score is -3.11. Homeland Interactive Technology's overall GF Score™ is 88/100 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 Homeland Interactive Technology (HKSE:03798), the current Beneish M-Score is -3.11 as of Aug. 31, 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 Homeland Interactive Technology (HKSE:03798) Overvalued in 2026?

Based on GuruFocus' analysis, Homeland Interactive Technology stock appears to be undervalued. The current stock price of HK$1.20 is trading 15.5% below its estimated GF Value™ of HK$1.42. GuruFocus considers Homeland Interactive Technology to be Modestly Undervalued.

Key valuation signals for HKSE:03798:

  • Beneish M-Score: -3.11
  • GF Value™: HK$1.42 vs. price of HK$1.20 (15.5% below fair value)
  • GF Score™: 88/100 with 3 warning signs

No single metric tells the full story. See the HKSE:03798 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Homeland Interactive Technology Business Description

Address No. 3040, Xinghai Avenue, Nanshan Street, 17 Floor, Qianhai Shimao Finance Centre II, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen, CHN
Homeland Interactive Technology Ltd is a developer and operator of localized card and board games developer and operator in the PRC with a special focus on localized Mahjong and poker games. It derives revenue from game development and operation income from sales of virtual tokens and private game room cards. Its operating activities are attributable to a single operating segment focusing on the development and operation of mobile games in the People's Republic of China as well as other Asian Countries.
88GF Score

Get the complete analysis for HKSE:03798

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

HK$1.20
Price
HK$1.42
GF Value