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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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Telecom Digital Holdings's Beneish M-Score or its related term are showing as below:
HKSE:06033'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.42 Med: -2.8 Max: -1.84
Current: -2.83
During the past 13 years, the highest Beneish M-Score of Telecom Digital Holdings was -1.84. The lowest was -3.42. And the median was -2.80.
* 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:06033 vs CASY, WSM, ULTA: Beneish M-Score Comparison
For the Specialty Retail subindustry, Telecom Digital 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.
Telecom Digital Holdings Beneish M-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Telecom Digital Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Telecom Digital Holdings's Beneish M-Score falls into.
Telecom Digital 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 Telecom Digital 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 * 1.2689
+
0.528 * 1.0863
+
0.404 * 0.9855
+
0.892 * 1.0736
+
0.115 * 0.9622
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9308
+
4.679 * -0.154696
-
0.327 * 0.971
=
-2.83
* 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))
=
(97.96 / (97.96 + 349.696))
/
(93.717 / (93.717 + 318.35))
=
0.218829
/
0.227431
=
0.9622
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
=
(-34.227 - 0
-
129.166)
/
1056.219
=
-0.154696
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.
Telecom Digital Holdings has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.
Telecom Digital Holdings (HKSE:06033) has a Beneish M-Score of -2.83 as of Sep. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Telecom Digital Holdings and its competitors. According to the industry distribution chart, Telecom Digital Holdings ranks #353 out of 1086 companies in the Retail - Cyclical industry, placing it in the top 32.5%.
Is Telecom Digital Holdings' Beneish M-Score too high?
Telecom Digital Holdings' current Beneish M-Score is -2.83. Based on the distribution chart, Telecom Digital Holdings ranks #353 out of 1086 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Telecom Digital Holdings has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Telecom Digital Holdings' Beneish M-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Telecom Digital Holdings ranks #353 out of 1086 companies for Beneish M-Score. This puts Telecom Digital Holdings 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 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 Telecom Digital Holdings and its competitors. Telecom Digital Holdings's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telecom Digital Holdings stock overvalued right now?
Based on GuruFocus' analysis, Telecom Digital Holdings (HKSE:06033) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.74, compared to a current price of HK$0.51 — trading 31.1% below its estimated fair value. The current Beneish M-Score is -2.83. Telecom Digital Holdings' overall GF Score™ is 50/100 with 6 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 Telecom Digital Holdings (HKSE:06033), the current Beneish M-Score is -2.83 as of Sep. 03, 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 Telecom Digital Holdings (HKSE:06033) Overvalued in 2026?
Based on GuruFocus' analysis, Telecom Digital Holdings stock appears to be undervalued.
The current stock price of HK$0.51 is trading 31.1% below its estimated GF Value™ of HK$0.74.
GuruFocus considers Telecom Digital Holdings to be Possible Value Trap.
Key valuation signals for HKSE:06033:
Beneish M-Score: -2.83
GF Value™: HK$0.74 vs. price of HK$0.51 (31.1% below fair value)
No single metric tells the full story. See the HKSE:06033 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Telecom Digital Holdings Ltd is an investment holding company. The company is principally engaged in telecommunications and related business. The company's operating segment includes Product business; Operation Services; Properties Investment and other segments. It generates maximum revenue from the Product business segment which is involved in the sales of electronic devices, other consumer goods, and related services.
50GF Score
Get the complete analysis for HKSE:06033
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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