GT Gold Holdings (HKSE:08299) Beneish M-Score: 0.00 (As of Aug. 10, 2026)

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HKSE:08299 GT Gold Holdings Ltd HKSE:08299
67 GF Score
Price HK$0.32
! 1 Warning Sign
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What is GT Gold Holdings Beneish M-Score?

GT Gold Holdings HKSE:08299 +1.61% 67 Beneish M-Score is 0.00 as of Aug. 10, 2026. GuruFocus rates HKSE:08299 with a GF Score™ of 67/100. The stock has 1 warning sign investors should review. Among 677 Metals & Mining companies, GT Gold Holdings ranks worse than 147710.34% 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.

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

During the past 13 years, the highest Beneish M-Score of GT Gold Holdings was -1.49. The lowest was -4.14. And the median was -2.82.

GT Gold Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for GT Gold 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.

GT Gold Holdings Beneish M-Score Chart

GT Gold Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

GT Gold Holdings Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

HKSE:08299 vs NEM, AU, RGLD: Beneish M-Score Comparison

For the Gold subindustry, GT Gold 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.

GT Gold Holdings Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, GT Gold Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where GT Gold Holdings's Beneish M-Score falls into.


HKSE:08299
67GF Score
GT Gold Holdings Ltd HKSE:08299
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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GT Gold 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 GT Gold 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was HK$56 Mil.
Revenue was HK$1,966 Mil.
Gross Profit was HK$232 Mil.
Total Current Assets was HK$261 Mil.
Total Assets was HK$1,821 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,392 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$63 Mil.
Selling, General, & Admin. Expense(SGA) was HK$26 Mil.
Total Current Liabilities was HK$250 Mil.
Long-Term Debt & Capital Lease Obligation was HK$254 Mil.
Net Income was HK$95 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$272 Mil.
 Total Receivables was HK$32 Mil.
Revenue was HK$1,314 Mil.
Gross Profit was HK$104 Mil.
Total Current Assets was HK$564 Mil.
Total Assets was HK$1,679 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,115 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$56 Mil.
Selling, General, & Admin. Expense(SGA) was HK$16 Mil.
Total Current Liabilities was HK$545 Mil.
Long-Term Debt & Capital Lease Obligation was HK$245 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)
=(56.123 / 1966.154) / (31.595 / 1314.101)
=0.028545 / 0.024043
=

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)
=(103.804 / 1314.101) / (231.833 / 1966.154)
=0.078992 / 0.117912
=

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 - (260.877 + 1391.716) / 1820.853) / (1 - (564.256 + 1114.9) / 1679.156)
=0.092407 / 0
=

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
=1966.154 / 1314.101
=

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))
=(55.822 / (55.822 + 1114.9)) / (63.031 / (63.031 + 1391.716))
=0.047682 / 0.043328
=

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)
=(26.163 / 1966.154) / (16.344 / 1314.101)
=0.013307 / 0.012437
=

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)
=((253.966 + 249.697) / 1820.853) / ((245.037 + 544.642) / 1679.156)
=0.276608 / 0.470283
=

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
=(94.878 - 0 - 271.858) / 1820.853
=-0.097196

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
GT Gold Holdings (HKSE:08299) has a Beneish M-Score of 0.00 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on GT Gold Holdings and its competitors. According to the industry distribution chart, GT Gold Holdings ranks #999999 out of 677 companies in the Metals & Mining industry.
Is GT Gold Holdings' Beneish M-Score too high?
GT Gold Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, GT Gold Holdings ranks #999999 out of 677 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, GT Gold Holdings has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.
How does GT Gold Holdings' Beneish M-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, GT Gold Holdings ranks #999999 out of 677 companies for Beneish M-Score. This places GT Gold 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 GT Gold Holdings and its competitors. GT Gold Holdings's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GT Gold Holdings stock overvalued right now?
GT Gold Holdings (HKSE:08299) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. GT Gold Holdings' overall GF Score™ is 67/100 with 1 warning sign 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 GT Gold Holdings (HKSE:08299), the current Beneish M-Score is 0.00 as of Aug. 10, 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.

GT Gold Holdings Business Description

Address 305-313 Queen’s Road Central, Roon A-B, 8th Floor, Centre Mark II, Sheung Wan, Hong Kong, HKG
GT Gold Holdings Ltd is an investment holding company. Its subsidiaries are principally engaged in gold exploration, mining, mineral processing, the sale of gold concentrate, and related products. Its segments are Gold mining and Corporate. The group's operations are located in Hong Kong and other parts of the People's Republic of China whereas the principal markets for the group's products are mainly located in other parts of the People's Republic of China.
67GF Score

Get the complete analysis for HKSE:08299

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

HK$0.32
Price