Butong Group (HKSE:06090) Beneish M-Score: -1.41 (As of Sep. 09, 2026)

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HKSE:06090 Butong Group HKSE:06090
20 GF Score
Price HK$42.48
! 2 Warning Signs
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What is Butong Group Beneish M-Score?

Butong Group HKSE:06090 -3.37% 20 Beneish M-Score is -1.41 as of Sep. 09, 2026. GuruFocus rates HKSE:06090 with a GF Score™ of 20/100. The stock has 2 warning signs investors should review. Among 1,889 Consumer Packaged Goods companies, Butong Group ranks worse than 87.61% 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.

Warning Sign:

Beneish M-Score -1.41 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:06090' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18   Med: -2.3   Max: -1.41
Current: -1.41

During the past 4 years, the highest Beneish M-Score of Butong Group was -1.41. The lowest was -3.18. And the median was -2.30.

Butong Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Butong Group'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.

Butong Group Beneish M-Score Chart

Butong Group Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.18 -1.41

Butong Group Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -3.18 0.00 -1.41

HKSE:06090 vs PG, CL, EL: Beneish M-Score Comparison

For the Household & Personal Products subindustry, Butong Group'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.

Butong Group Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Butong Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Butong Group's Beneish M-Score falls into.


HKSE:06090
20GF Score
Butong Group HKSE:06090
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Butong Group 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 Butong Group 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 * 2.1278+0.528 * 1.0175+0.404 * 0.3567+0.892 * 1.1979+0.115 * 1.9299
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0425+4.679 * -0.03075-0.327 * 0.531
=-1.41

* 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$102 Mil.
Revenue was HK$1,597 Mil.
Gross Profit was HK$791 Mil.
Total Current Assets was HK$1,313 Mil.
Total Assets was HK$1,612 Mil.
Property, Plant and Equipment(Net PPE) was HK$244 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$25 Mil.
Selling, General, & Admin. Expense(SGA) was HK$643 Mil.
Total Current Liabilities was HK$397 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6 Mil.
Net Income was HK$72 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$122 Mil.
 Total Receivables was HK$40 Mil.
Revenue was HK$1,333 Mil.
Gross Profit was HK$672 Mil.
Total Current Assets was HK$449 Mil.
Total Assets was HK$617 Mil.
Property, Plant and Equipment(Net PPE) was HK$109 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$24 Mil.
Selling, General, & Admin. Expense(SGA) was HK$515 Mil.
Total Current Liabilities was HK$282 Mil.
Long-Term Debt & Capital Lease Obligation was HK$9 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)
=(101.752 / 1597.237) / (39.92 / 1333.389)
=0.063705 / 0.029939
=2.1278

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)
=(671.623 / 1333.389) / (790.718 / 1597.237)
=0.503696 / 0.495054
=1.0175

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 - (1313.242 + 244.191) / 1612.343) / (1 - (449.048 + 109.016) / 616.969)
=0.034056 / 0.095475
=0.3567

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
=1597.237 / 1333.389
=1.1979

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))
=(23.731 / (23.731 + 109.016)) / (24.929 / (24.929 + 244.191))
=0.178769 / 0.092632
=1.9299

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)
=(643.46 / 1597.237) / (515.272 / 1333.389)
=0.402858 / 0.386438
=1.0425

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)
=((5.885 + 397.412) / 1612.343) / ((8.858 + 281.782) / 616.969)
=0.250131 / 0.471077
=0.531

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
=(72.026 - 0 - 121.606) / 1612.343
=-0.03075

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.

Butong Group has a M-score of -1.41 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.41 mean?
Butong Group (HKSE:06090) has a Beneish M-Score of -1.41 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Butong Group and its competitors. According to the industry distribution chart, Butong Group ranks #1655 out of 1889 companies in the Consumer Packaged Goods industry, placing it in the top 87.6%.
Is Butong Group's Beneish M-Score too high?
Butong Group's current Beneish M-Score is -1.41. Based on the distribution chart, Butong Group ranks #1655 out of 1889 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Butong Group has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Butong Group's Beneish M-Score compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Butong Group ranks #1655 out of 1889 companies for Beneish M-Score. This places Butong Group 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Butong Group and its competitors. Butong Group's current Beneish M-Score is -1.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Butong Group stock overvalued right now?
Butong Group (HKSE:06090) has a current Beneish M-Score of -1.41. The current Beneish M-Score is -1.41. Butong Group's overall GF Score™ is 20/100 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 Butong Group (HKSE:06090), the current Beneish M-Score is -1.41 as of Sep. 09, 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.

Butong Group Business Description

Address Lane 28, Danba Road, 3rd-4th Floor, Building 10, Putuo District, Shanghai, CHN
Butong Group is principally engaged in the designing, manufacturing, and selling of nursery products. The Group mainly sells its nursery products to customers through offline channels such as direct sales via distributors and retailers, and online channels such as self-operated stores and platform-operated stores on e-commerce platforms. Its products include Outing, Sleeping, Feeding, and Hygiene & Care items. The Group mainly generates revenue from sales of products, including travel gear such as strollers and accessories, car seats, and baby carriers, sleep gear such as cribs, pajamas, and pillows, feeding gear such as highchairs and tableware, and baby care products such as diapers and wipes. The Group generates the majority of its revenue from the Chinese Mainland.
20GF Score

Get the complete analysis for HKSE:06090

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

HK$42.48
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