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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 -2.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for KWG Living Group Holdings's Beneish M-Score or its related term are showing as below:
HKSE:03913'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.99 Med: -2.2 Max: 0.33
Current: -2.99
During the past 9 years, the highest Beneish M-Score of KWG Living Group Holdings was 0.33. The lowest was -2.99. And the median was -2.20.
KWG Living Group Holdings Beneish M-Score Related Terms
KWG Living Group Holdings Beneish M-Score Historical Data
* 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:03913 vs CBRE, BEKE, JLL: Beneish M-Score Comparison
For the Real Estate Services subindustry, KWG Living 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.
KWG Living Group Holdings Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, KWG Living Group Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where KWG Living Group Holdings's Beneish M-Score falls into.
KWG Living 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 KWG Living 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 * 1.0509
+
0.528 * 0.9916
+
0.404 * 0.8857
+
0.892 * 0.9642
+
0.115 * 0.9148
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.975
+
4.679 * -0.094166
-
0.327 * 1.0892
=
-2.99
* 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))
=
(156.055 / (156.055 + 64.166))
/
(102.99 / (102.99 + 29.962))
=
0.708629
/
0.77464
=
0.9148
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
=
(-346.623 - 0
-
275.046)
/
6601.827
=
-0.094166
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.
KWG Living Group Holdings has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.
KWG Living Group Holdings (HKSE:03913) has a Beneish M-Score of -2.99 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on KWG Living Group Holdings and its competitors. According to the industry distribution chart, KWG Living Group Holdings ranks #271 out of 1683 companies in the Real Estate industry, placing it in the top 16.1%.
Is KWG Living Group Holdings' Beneish M-Score too high?
KWG Living Group Holdings' current Beneish M-Score is -2.99. Based on the distribution chart, KWG Living Group Holdings ranks #271 out of 1683 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, KWG Living Group Holdings has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does KWG Living Group Holdings' Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, KWG Living Group Holdings ranks #271 out of 1683 companies for Beneish M-Score. This places KWG Living Group Holdings in the top 16% 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 KWG Living Group Holdings and its competitors. KWG Living Group Holdings's current Beneish M-Score is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KWG Living Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, KWG Living Group Holdings (HKSE:03913) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.32, compared to a current price of HK$0.14 — trading 57.2% below its estimated fair value. The current Beneish M-Score is -2.99. KWG Living Group Holdings' overall GF Score™ is 62/100 with 5 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 KWG Living Group Holdings (HKSE:03913), the current Beneish M-Score is -2.99 as of Jul. 24, 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 KWG Living Group Holdings (HKSE:03913) Overvalued in 2026?
Based on GuruFocus' analysis, KWG Living Group Holdings stock appears to be undervalued.
The current stock price of HK$0.14 is trading 57.2% below its estimated GF Value™ of HK$0.32.
GuruFocus considers KWG Living Group Holdings to be Possible Value Trap.
Key valuation signals for HKSE:03913:
Beneish M-Score: -2.99
GF Value™: HK$0.32 vs. price of HK$0.14 (57.2% below fair value)
No single metric tells the full story. See the HKSE:03913 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KWG Living Group Holdings Ltd is an investment holding company. Along with its subsidiaries, it operates in two reportable segments: Residential property management services and Non-residential property management and commercial operational services. Maximum revenue for the group is generated from its Residential property management and commercial operational services segment, which manages and operates a portfolio of non-residential properties, provides property management and commercial operational services to commercial properties such as shopping malls, office buildings and industrial parks, and provides property management services to schools, hospitals, government authorities and other public properties. Geographically, it derives all of its revenue from Chinese Mainland.
62GF Score
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