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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 -2.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CSC Financial Co's Beneish M-Score or its related term are showing as below:
HKSE:06066'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.34 Med: -2.22 Max: 0.08
Current: -2.15
During the past 13 years, the highest Beneish M-Score of CSC Financial Co was 0.08. The lowest was -5.34. And the median was -2.22.
The historical data trend for CSC Financial Co'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:06066 vs MS, GS, SCHW: Beneish M-Score Comparison
For the Capital Markets subindustry, CSC Financial Co'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.
CSC Financial Co Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, CSC Financial Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CSC Financial Co'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 CSC Financial Co 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 * 1.0451
+
0.528 * 0.968
+
0.404 * 1.7855
+
0.892 * 1.3085
+
0.115 * 0.9083
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4426
+
4.679 * 0.031521
-
0.327 * 1.0058
=
-1.63
* 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))
=
(1217.76 / (1217.76 + 1961.658))
/
(1198.114 / (1198.114 + 1643.278))
=
0.383014
/
0.421665
=
0.9083
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
=
(10233.737 - 0
-
-13528.097)
/
753846.971
=
0.031521
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.
CSC Financial Co has a M-score of -1.63 signals that the company is likely to be a manipulator.
CSC Financial Co (HKSE:06066) has a Beneish M-Score of -2.15 as of Sep. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CSC Financial Co and its competitors. According to the industry distribution chart, CSC Financial Co ranks #373 out of 703 companies in the Capital Markets industry, placing it in the top 53.1%.
Is CSC Financial Co's Beneish M-Score too high?
CSC Financial Co's current Beneish M-Score is -2.15. Based on the distribution chart, CSC Financial Co ranks #373 out of 703 companies in the Capital Markets industry, which is below the industry midpoint. Overall, CSC Financial Co has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CSC Financial Co's Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, CSC Financial Co ranks #373 out of 703 companies for Beneish M-Score. This places CSC Financial Co 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 CSC Financial Co and its competitors. CSC Financial Co's current Beneish M-Score is -2.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CSC Financial Co stock overvalued right now?
Based on GuruFocus' analysis, CSC Financial Co (HKSE:06066) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$12.61, compared to a current price of HK$11.33 — trading 10.2% below its estimated fair value. The current Beneish M-Score is -2.15. CSC Financial Co's overall GF Score™ is 88/100 with 2 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 CSC Financial Co (HKSE:06066), the current Beneish M-Score is -2.15 as of Sep. 15, 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 CSC Financial Co (HKSE:06066) Overvalued in 2026?
Based on GuruFocus' analysis, CSC Financial Co stock appears to be undervalued.
The current stock price of HK$11.33 is trading 10.2% below its estimated GF Value™ of HK$12.61.
GuruFocus considers CSC Financial Co to be Modestly Undervalued.
Key valuation signals for HKSE:06066:
Beneish M-Score: -2.15
GF Value™: HK$12.61 vs. price of HK$11.33 (10.2% below fair value)
No single metric tells the full story. See the HKSE:06066 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CSC Financial Co Ltd is engaged in providing capital markets services. The operating segments of the company include investment banking business which includes equity financing business, debt financing business, and financial advisory business; wealth management business which includes brokerage and wealth management business, margin financing, security lending business, and repurchase business; trading and institutional client services business which include equity sales, fixed income sales, and prime brokerage business, and asset management business which include asset management business and fund management business. The company derives the majority of its revenue from the Investment Banking segment.
88GF Score
Get the complete analysis for HKSE:06066
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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