Taste Gourmet Group (HKSE:08371) Beneish M-Score : -3.10 (As of Mar. 04, 2025)

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What is Taste Gourmet Group Beneish M-Score?

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 -3.1 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Taste Gourmet Group's Beneish M-Score or its related term are showing as below:

HKSE:08371' s Beneish M-Score Range Over the Past 10 Years
Min: -5 Med: -2.06 Max: 0.7
Current: -3.1

During the past 9 years, the highest Beneish M-Score of Taste Gourmet Group was 0.70. The lowest was -5.00. And the median was -2.06.

Taste Gourmet Group Beneish M-Score Historical Data

The historical data trend for Taste Gourmet Group'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.

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Taste Gourmet Group Beneish M-Score Chart

Taste Gourmet Group Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-5.00

-0.41

-3.37

-3.94

-3.10

Taste Gourmet Group Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-3.10	-

Competitive Comparison of Taste Gourmet Group's Beneish M-Score

For the Restaurants subindustry, Taste Gourmet Group'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.

Taste Gourmet Group's Beneish M-Score Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Taste Gourmet Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Taste Gourmet Group's Beneish M-Score falls into.

Taste Gourmet Group 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 Taste Gourmet Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.3408

0.528 * 0.9522

0.404 * 0.868

0.892 * 1.3698

0.115 * 0.8884

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0352

4.679 * -0.251472

0.327 * 0.9794

-3.10

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was HK$10 Mil.
Revenue was HK$1,024 Mil.
Gross Profit was HK$441 Mil.
Total Current Assets was HK$171 Mil.
Total Assets was HK$835 Mil.
Property, Plant and Equipment(Net PPE) was HK$599 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$184 Mil.
Selling, General, & Admin. Expense(SGA) was HK$34 Mil.
Total Current Liabilities was HK$239 Mil.
Long-Term Debt & Capital Lease Obligation was HK$332 Mil.
Net Income was HK$90 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$300 Mil.

Total Receivables was HK$6 Mil.
Revenue was HK$748 Mil.
Gross Profit was HK$307 Mil.
Total Current Assets was HK$134 Mil.
Total Assets was HK$689 Mil.
Property, Plant and Equipment(Net PPE) was HK$493 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$130 Mil.
Selling, General, & Admin. Expense(SGA) was HK$24 Mil.
Total Current Liabilities was HK$195 Mil.
Long-Term Debt & Capital Lease Obligation was HK$286 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)
	=	(10.132 / 1023.946)	/	(5.517 / 747.517)
	=	0.009895	/	0.00738
	=	1.3408

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)
	=	(306.781 / 747.517)	/	(441.303 / 1023.946)
	=	0.4104	/	0.430983
	=	0.9522

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 - (170.863 + 599.339) / 835.154)	/	(1 - (134.195 + 492.66) / 688.549)
	=	0.077772	/	0.0896
	=	0.868

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
	=	1023.946	/	747.517
	=	1.3698

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))
	=	(130.113 / (130.113 + 492.66))	/	(184.292 / (184.292 + 599.339))
	=	0.208925	/	0.235177
	=	0.8884

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)
	=	(34.416 / 1023.946)	/	(24.27 / 747.517)
	=	0.033611	/	0.032467
	=	1.0352

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)
	=	((331.925 + 239.186) / 835.154)	/	((285.894 + 194.845) / 688.549)
	=	0.683839	/	0.698191
	=	0.9794

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
	=	(90.458 - 0	-	300.476)	/	835.154
	=	-0.251472

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.

Taste Gourmet Group has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.

Taste Gourmet Group Beneish M-Score Related Terms

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Taste Gourmet Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Taste Gourmet Group Ltd (HKSE:08371) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

99-101 Jervois Street, Unit B, 24th Floor, Crawford Tower, Sheung Wan, Hong Kong, HKG

Website

http://www.tastegourmet.com.hk

Taste Gourmet Group Ltd operates as a holding company. Along with its subsidiaries, it is engaged in operating restaurants serving different kinds of cuisines in Hong Kong and the People's Republic of China (PRC). The restaurants operated by the group offer Vietnamese, Japanese, Chinese, Western cuisines, and other cuisines. Its restaurant's brands comprise La'taste Vietnamese Cuisine, Rakuraku Ramen, Dab-Pa Peking and Szechuan Cuisine, Dab-Pa Peking and Szechuan Bistro, Urawa Japanese Restaurant, Nabe Urawa and Say Cheese, and others. Geographically, the company derives a majority of its revenue from Hong Kong.

Executives

Ikeab Limited	2101 Beneficial owner
Chan Wai Chun	2201 Interest of corporation controlled by you
Wong Ngai Shan	2201 Interest of corporation controlled by you

Taste Gourmet Group Headlines

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