Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Expert Systems Holdings's Beneish M-Score or its related term are showing as below:
HKSE:08319'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.72 Med: -2.15 Max: 6.78
Current: -2.18
During the past 13 years, the highest Beneish M-Score of Expert Systems Holdings was 6.78. The lowest was -3.72. And the median was -2.15.
* 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:08319 vs IBM, ACN, FISV: Beneish M-Score Comparison
For the Information Technology Services subindustry, Expert Systems 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.
Expert Systems Holdings Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Expert Systems Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Expert Systems Holdings's Beneish M-Score falls into.
Expert Systems 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 Expert Systems 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 * 1.1171
+
0.528 * 1.153
+
0.404 * 0.9391
+
0.892 * 1.11
+
0.115 * 1.3413
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9388
+
4.679 * 0.000439
-
0.327 * 1.0289
=
-2.18
* 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))
=
(12.231 / (12.231 + 13.355))
/
(11.587 / (11.587 + 20.925))
=
0.478035
/
0.356391
=
1.3413
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
=
(3.851 - 0
-
3.568)
/
644.381
=
0.000439
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.
Expert Systems Holdings has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
Expert Systems Holdings (HKSE:08319) has a Beneish M-Score of -2.18 as of Aug. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Expert Systems Holdings and its competitors. According to the industry distribution chart, Expert Systems Holdings ranks #1831 out of 2637 companies in the Software industry, placing it in the top 69.4%.
Is Expert Systems Holdings' Beneish M-Score too high?
Expert Systems Holdings' current Beneish M-Score is -2.18. Based on the distribution chart, Expert Systems Holdings ranks #1831 out of 2637 companies in the Software industry, which is below the industry midpoint. Overall, Expert Systems Holdings has a GF Score™ of 55/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Expert Systems Holdings' Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Expert Systems Holdings ranks #1831 out of 2637 companies for Beneish M-Score. This places Expert Systems 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 Software company?
A good Beneish M-Score depends on the Software 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 Expert Systems Holdings and its competitors. Expert Systems Holdings's current Beneish M-Score is -2.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Expert Systems Holdings stock overvalued right now?
Based on GuruFocus' analysis, Expert Systems Holdings (HKSE:08319) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$0.20, compared to a current price of HK$0.11 — trading 46.5% below its estimated fair value. The current Beneish M-Score is -2.18. Expert Systems Holdings' overall GF Score™ is 55/100 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 Expert Systems Holdings (HKSE:08319), the current Beneish M-Score is -2.18 as of Aug. 25, 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 Expert Systems Holdings (HKSE:08319) Overvalued in 2026?
Based on GuruFocus' analysis, Expert Systems Holdings stock appears to be undervalued.
The current stock price of HK$0.11 is trading 46.5% below its estimated GF Value™ of HK$0.20.
GuruFocus considers Expert Systems Holdings to be Significantly Undervalued.
Key valuation signals for HKSE:08319:
Beneish M-Score: -2.18
GF Value™: HK$0.20 vs. price of HK$0.11 (46.5% below fair value)
No single metric tells the full story. See the HKSE:08319 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Expert Systems Holdings Ltd is an investment holding company. Along with its subsidiaries, the company is principally engaged in the provision of IT infrastructure solutions .The operating segments of the Company are the provision of IT infrastructure solutions, the provision of IT infrastructure management services and the provision of AI business. Its products and solutions comprise server and storage consolidation, backup and restore, desktop management, networking, infrastructure and management, and information security. The company serves a diverse range of markets including banking, finance, insurance, telecommunications, media, Hotel and government sector. Geographically, Hong Kong contributes to the vast majority of total revenue.
55GF Score
Get the complete analysis for HKSE:08319
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:08319 has been successfully added to your 
