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Hospital of ChinaHKSE:03869 73 Beneish M-Score is -2.39 as of Sep. 01, 2026. GuruFocus rates HKSE:03869 with a GF Score™ of 73/100 and a GF Value™ of HK$5.53 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 629 Healthcare Providers & Services companies, Hospital of China ranks worse than 65.82% 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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Hospital of China's Beneish M-Score or its related term are showing as below:
HKSE:03869'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.72 Med: -2.45 Max: -1.73
Current: -2.39
During the past 12 years, the highest Beneish M-Score of Hospital of China was -1.73. The lowest was -3.72. And the median was -2.45.
The historical data trend for Hospital of China'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.
HKSE:03869 vs HCA, THC, EHC: Beneish M-Score Comparison
For the Medical Care Facilities subindustry, Hospital of China'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.
Hospital of China Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Hospital of China's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hospital of China's Beneish M-Score falls into.
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 Hospital of China 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 * 1.0462
+
0.528 * 1.0512
+
0.404 * 0.9857
+
0.892 * 1.0553
+
0.115 * 1.075
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0888
+
4.679 * -0.008345
-
0.327 * 0.9247
=
-2.39
* 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.
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.
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))
=
(67.378 / (67.378 + 191.964))
/
(68.893 / (68.893 + 216.166))
=
0.259804
/
0.24168
=
1.075
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
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
=
(150.703 - 0
-
174.458)
/
2846.723
=
-0.008345
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.
Hospital of China has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
Hospital of China (HKSE:03869) has a Beneish M-Score of -2.39 as of Sep. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hospital of China and its competitors. According to the industry distribution chart, Hospital of China ranks #414 out of 629 companies in the Healthcare Providers & Services industry, placing it in the top 65.8%.
Is Hospital of China's Beneish M-Score too high?
Hospital of China's current Beneish M-Score is -2.39. Based on the distribution chart, Hospital of China ranks #414 out of 629 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, Hospital of China has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hospital of China's Beneish M-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Hospital of China ranks #414 out of 629 companies for Beneish M-Score. This places Hospital of China 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 Hospital of China and its competitors. Hospital of China's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hospital of China stock overvalued right now?
Based on GuruFocus' analysis, Hospital of China (HKSE:03869) is currently considered Possible Value Trap. The stock's GF Value™ is HK$5.53, compared to a current price of HK$3.40 — trading 38.5% below its estimated fair value. The current Beneish M-Score is -2.39. Hospital of China's overall GF Score™ is 73/100 with 4 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 Hospital of China (HKSE:03869), the current Beneish M-Score is -2.39 as of Sep. 01, 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 Hospital of China (HKSE:03869) Overvalued in 2026?
Based on GuruFocus' analysis, Hospital of China stock appears to be undervalued.
The current stock price of HK$3.40 is trading 38.5% below its estimated GF Value™ of HK$5.53.
GuruFocus considers Hospital of China to be Possible Value Trap.
Key valuation signals for HKSE:03869:
Beneish M-Score: -2.39
GF Value™: HK$5.53 vs. price of HK$3.40 (38.5% below fair value)
No single metric tells the full story. See the HKSE:03869 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hospital Corporation of China Ltd is an investment holding company that operates and manages hospitals in the People's Republic of China. In addition to offering hospital management services, it also provides supply chain services, other ancillary services, and sells pharmaceutical products. The company has three operating segments, namely, Hospital management services, General hospital services, and the sale of pharmaceutical products. The General Hospital services segment is the primary revenue generator for the company. All the company's revenue is generates from PRC.
73GF Score
Get the complete analysis for HKSE:03869
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