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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 -3.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Cornerstone Financial Holdings's Beneish M-Score or its related term are showing as below:
HKSE:08112'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.53 Med: -3.07 Max: 2.98
Current: -3.38
During the past 13 years, the highest Beneish M-Score of Cornerstone Financial Holdings was 2.98. The lowest was -4.53. And the median was -3.07.
* 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:08112 vs APP, OMC, TTD: Beneish M-Score Comparison
For the Advertising Agencies subindustry, Cornerstone Financial 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.
Cornerstone Financial Holdings Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Cornerstone Financial Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cornerstone Financial Holdings'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 Cornerstone Financial 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 * 0.6662
+
0.528 * 1.3637
+
0.404 * 1.2041
+
0.892 * 0.8909
+
0.115 * 0.7452
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8464
+
4.679 * -0.145293
-
0.327 * 1.2684
=
-3.38
* 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))
=
(7.908 / (7.908 + 3.069))
/
(10.883 / (10.883 + 0.375))
=
0.720415
/
0.96669
=
0.7452
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
=
(-18.66 - 0
-
6.634)
/
174.09
=
-0.145293
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.
Cornerstone Financial Holdings has a M-score of -3.38 suggests that the company is unlikely to be a manipulator.
Cornerstone Financial Holdings (HKSE:08112) has a Beneish M-Score of -3.38 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cornerstone Financial Holdings and its competitors. According to the industry distribution chart, Cornerstone Financial Holdings ranks #134 out of 969 companies in the Media - Diversified industry, placing it in the top 13.8%.
Is Cornerstone Financial Holdings' Beneish M-Score too high?
Cornerstone Financial Holdings' current Beneish M-Score is -3.38. Based on the distribution chart, Cornerstone Financial Holdings ranks #134 out of 969 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Cornerstone Financial Holdings has a GF Score™ of 42/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cornerstone Financial Holdings' Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Cornerstone Financial Holdings ranks #134 out of 969 companies for Beneish M-Score. This places Cornerstone Financial Holdings in the top 14% 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Cornerstone Financial Holdings and its competitors. Cornerstone Financial Holdings's current Beneish M-Score is -3.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cornerstone Financial Holdings stock overvalued right now?
Based on GuruFocus' analysis, Cornerstone Financial Holdings (HKSE:08112) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.16, compared to a current price of HK$0.12 — trading 24.4% below its estimated fair value. The current Beneish M-Score is -3.38. Cornerstone Financial Holdings' overall GF Score™ is 42/100 with 4 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 Cornerstone Financial Holdings (HKSE:08112), the current Beneish M-Score is -3.38 as of Aug. 12, 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 Cornerstone Financial Holdings (HKSE:08112) Overvalued in 2026?
Based on GuruFocus' analysis, Cornerstone Financial Holdings stock appears to be undervalued.
The current stock price of HK$0.12 is trading 24.4% below its estimated GF Value™ of HK$0.16.
GuruFocus considers Cornerstone Financial Holdings to be Modestly Undervalued.
Key valuation signals for HKSE:08112:
Beneish M-Score: -3.38
GF Value™: HK$0.16 vs. price of HK$0.12 (24.4% below fair value)
No single metric tells the full story. See the HKSE:08112 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cornerstone Financial Holdings Ltd is an investment holding company. Along with its subsidiaries, it operates in the following segments: Advertising and media, Financial services, and Retail of skin care products. The majority of its revenue is generated from the Advertising and media segment, which is mainly involved in creating and operating a network of flat-panel displays in elevator lobbies of office and commercial complexes, as well as residential buildings, to sell advertisements. The Financial services segment mainly includes securities dealings, brokerage business, and margin financing business. Geographically, the Group generates maximum revenue from Hong Kong and the rest from Singapore.
42GF Score
Get the complete analysis for HKSE:08112
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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