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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 Hephaestus Holdings's Beneish M-Score or its related term are showing as below:
HKSE:08173'
s Beneish M-Score Range Over the Past 10 Years
Min: -9.56 Med: -3.01 Max: 97.66
Current: -2.83
During the past 13 years, the highest Beneish M-Score of Hephaestus Holdings was 97.66. The lowest was -9.56. And the median was -3.01.
Hephaestus Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Hephaestus Holdings'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:08173 vs VRSK, EFX, BAH: Beneish M-Score Comparison
For the Consulting Services subindustry, Hephaestus 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.
Hephaestus Holdings Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Hephaestus Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hephaestus 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 Hephaestus 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 * 0.5853
+
0.528 * 1.7685
+
0.404 * 0.3279
+
0.892 * 2.464
+
0.115 * 0.7339
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4142
+
4.679 * -0.278109
-
0.327 * 1.5513
=
-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))
=
(1.225 / (1.225 + 1.1))
/
(0.794 / (0.794 + 0.312))
=
0.526882
/
0.717902
=
0.7339
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
=
(-7.54 - 0
-
2.804)
/
37.194
=
-0.278109
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.
Hephaestus Holdings has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.
Hephaestus Holdings (HKSE:08173) has a Beneish M-Score of -2.83 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hephaestus Holdings and its competitors. According to the industry distribution chart, Hephaestus Holdings ranks #293 out of 1017 companies in the Business Services industry, placing it in the top 28.8%.
Is Hephaestus Holdings' Beneish M-Score too high?
Hephaestus Holdings' current Beneish M-Score is -2.83. Based on the distribution chart, Hephaestus Holdings ranks #293 out of 1017 companies in the Business Services industry, which is above the industry midpoint. Overall, Hephaestus Holdings has a GF Score™ of 32/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hephaestus Holdings' Beneish M-Score compare to VRSK and EFX?
According to the Business Services industry distribution chart, Hephaestus Holdings ranks #293 out of 1017 companies for Beneish M-Score. This puts Hephaestus 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Hephaestus Holdings and its competitors. Hephaestus 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 Hephaestus Holdings stock overvalued right now?
Based on GuruFocus' analysis, Hephaestus Holdings (HKSE:08173) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.45, compared to a current price of HK$0.12 — trading 74.4% below its estimated fair value. The current Beneish M-Score is -2.83. Hephaestus Holdings' overall GF Score™ is 32/100 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 Hephaestus Holdings (HKSE:08173), the current Beneish M-Score is -2.83 as of Aug. 19, 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 Hephaestus Holdings (HKSE:08173) Overvalued in 2026?
Based on GuruFocus' analysis, Hephaestus Holdings stock appears to be undervalued.
The current stock price of HK$0.12 is trading 74.4% below its estimated GF Value™ of HK$0.45.
GuruFocus considers Hephaestus Holdings to be Possible Value Trap.
Key valuation signals for HKSE:08173:
Beneish M-Score: -2.83
GF Value™: HK$0.45 vs. price of HK$0.12 (74.4% below fair value)
No single metric tells the full story. See the HKSE:08173 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hephaestus Holdings Ltd is an investment holding company that is engaged in the provision of interior design and execution services to premises, including private residences, corporate offices, service apartments, hotels, residential clubhouses, show flats, and sales galleries. The company operates in a single segment, focusing on interior design and execution services, and derives the majority of its revenue from Hong Kong.
32GF Score
Get the complete analysis for HKSE:08173
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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