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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 -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Smoore International Holdings's Beneish M-Score or its related term are showing as below:
HKSE:06969'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.76 Med: -1.93 Max: -0.49
Current: -2.17
During the past 10 years, the highest Beneish M-Score of Smoore International Holdings was -0.49. The lowest was -2.76. And the median was -1.93.
* 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.
Smoore International Holdings Beneish M-Score Chart
HKSE:06969 vs PM, MO, TPB: Beneish M-Score Comparison
For the Tobacco subindustry, Smoore International 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.
Smoore International Holdings Beneish M-Score vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Smoore International Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Smoore International Holdings's Beneish M-Score falls into.
Smoore International 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 Smoore International 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 * 0.8803
+
0.528 * 1.0976
+
0.404 * 1.2035
+
0.892 * 1.2502
+
0.115 * 1.0694
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9925
+
4.679 * 0.020139
-
0.327 * 1.1304
=
-2.17
* 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))
=
(304.436 / (304.436 + 4205.304))
/
(314.789 / (314.789 + 4671.864))
=
0.067506
/
0.063126
=
1.0694
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
=
(1172.775 - 0
-
537.871)
/
31526.4
=
0.020139
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.
Smoore International Holdings has a M-score of -2.17 suggests that the company is unlikely to be a manipulator.
Smoore International Holdings (HKSE:06969) has a Beneish M-Score of -2.17 as of Sep. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Smoore International Holdings and its competitors. According to the industry distribution chart, Smoore International Holdings ranks #28 out of 43 companies in the Tobacco Products industry, placing it in the top 65.1%.
Is Smoore International Holdings' Beneish M-Score too high?
Smoore International Holdings' current Beneish M-Score is -2.17. Based on the distribution chart, Smoore International Holdings ranks #28 out of 43 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, Smoore International Holdings has a GF Score™ of 92/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Smoore International Holdings' Beneish M-Score compare to PM and MO?
According to the Tobacco Products industry distribution chart, Smoore International Holdings ranks #28 out of 43 companies for Beneish M-Score. This places Smoore International Holdings 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 Tobacco Products company?
A good Beneish M-Score depends on the Tobacco Products 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 Smoore International Holdings and its competitors. Smoore International Holdings's current Beneish M-Score is -2.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smoore International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Smoore International Holdings (HKSE:06969) is currently considered Possible Value Trap. The stock's GF Value™ is HK$13.81, compared to a current price of HK$9.54 — trading 30.9% below its estimated fair value. The current Beneish M-Score is -2.17. Smoore International Holdings' overall GF Score™ is 92/100 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 Smoore International Holdings (HKSE:06969), the current Beneish M-Score is -2.17 as of Sep. 11, 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 Smoore International Holdings (HKSE:06969) Overvalued in 2026?
Based on GuruFocus' analysis, Smoore International Holdings stock appears to be undervalued.
The current stock price of HK$9.54 is trading 30.9% below its estimated GF Value™ of HK$13.81.
GuruFocus considers Smoore International Holdings to be Possible Value Trap.
Key valuation signals for HKSE:06969:
Beneish M-Score: -2.17
GF Value™: HK$13.81 vs. price of HK$9.54 (30.9% below fair value)
No single metric tells the full story. See the HKSE:06969 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smoore International Holdings Ltd is engaged in providing atomization technology solutions. The group operates through two business segments: Corporate Client Oriented Business (ToB Business) and Self-Branded Business. The ToB Business focuses on the research, design, and manufacturing of vaping, heat-not-burn (HNB), and other atomization products, along with related technological services for corporate clients. The Self-Branded Business is involved in the research, design, manufacturing, and sale of self-branded electronic vaping and beauty atomization products. It generates the majority of its revenue from the Corporate Client Oriented Business (ToB Business) segment.
92GF Score
Get the complete analysis for HKSE:06969
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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