Wan Leader International (HKSE:08482) Beneish M-Score: -3.27 (As of Jul. 08, 2026)

What is Wan Leader International Beneish M-Score?

Wan Leader International HKSE:08482 40 Beneish M-Score is -3.27 as of Jul. 08, 2026. GuruFocus rates HKSE:08482 with a GF Score™ of 40/100 and a GF Value™ of HK$0.15 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 964 Transportation companies, Wan Leader International ranks better than 92.32% 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.

Good Sign:

Beneish M-Score -3.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Wan Leader International's Beneish M-Score or its related term are showing as below:

HKSE:08482' s Beneish M-Score Range Over the Past 10 Years
Min: -3.27 Med: -1.95 Max: -0.19
Current: -3.27

During the past 11 years, the highest Beneish M-Score of Wan Leader International was -0.19. The lowest was -3.27. And the median was -1.95.

Wan Leader International Beneish M-Score Related Terms

Wan Leader International Beneish M-Score Historical Data

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The historical data trend for Wan Leader International'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.

Wan Leader International Beneish M-Score Chart

Wan Leader International Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-0.35

-0.32

-0.19

-3.27

0.00

Wan Leader International Semi-Annual Data
	Mar16	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															-0.19	0.00	-3.27	0.00	0.00

HKSE:08482 vs UPS, FDX, JBHT: Beneish M-Score Comparison

For the Integrated Freight & Logistics subindustry, Wan Leader International'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.

Wan Leader International Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Wan Leader International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Wan Leader International's Beneish M-Score falls into.

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Wan Leader International Ltd HKSE:08482

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Wan Leader International 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 Wan Leader International 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 * 0.9434

0.528 * 1.7556

0.404 * 1.1709

0.892 * 0.8418

0.115 * 0.514

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0608

4.679 * -0.189953

0.327 * 1.3386

-3.27

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was HK$55.3 Mil.
Revenue was HK$157.6 Mil.
Gross Profit was HK$2.2 Mil.
Total Current Assets was HK$71.2 Mil.
Total Assets was HK$72.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$26.2 Mil.
Total Current Liabilities was HK$34.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.1 Mil.
Net Income was HK$-25.2 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-11.5 Mil.

Total Receivables was HK$69.6 Mil.
Revenue was HK$187.2 Mil.
Gross Profit was HK$4.6 Mil.
Total Current Assets was HK$88.4 Mil.
Total Assets was HK$91.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$3.4 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$29.4 Mil.
Total Current Liabilities was HK$32.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.4 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)
	=	(55.3 / 157.584)	/	(69.632 / 187.193)
	=	0.350924	/	0.37198
	=	0.9434

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)
	=	(4.638 / 187.193)	/	(2.224 / 157.584)
	=	0.024777	/	0.014113
	=	1.7556

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 - (71.166 + 0.651) / 71.96)	/	(1 - (88.38 + 3.375) / 91.911)
	=	0.001987	/	0.001697
	=	1.1709

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
	=	157.584	/	187.193
	=	0.8418

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))
	=	(1.791 / (1.791 + 3.375))	/	(1.349 / (1.349 + 0.651))
	=	0.34669	/	0.6745
	=	0.514

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)
	=	(26.22 / 157.584)	/	(29.362 / 187.193)
	=	0.166387	/	0.156854
	=	1.0608

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)
	=	((0.066 + 34.652) / 71.96)	/	((0.353 + 32.773) / 91.911)
	=	0.482462	/	0.360414
	=	1.3386

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
	=	(-25.213 - 0	-	-11.544)	/	71.96
	=	-0.189953

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.

Wan Leader International has a M-score of -3.27 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -3.27 mean?

Wan Leader International (HKSE:08482) has a Beneish M-Score of -3.27 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wan Leader International and its competitors. According to the industry distribution chart, Wan Leader International ranks #74 out of 964 companies in the Transportation industry, placing it in the top 7.7%.

Is Wan Leader International's Beneish M-Score too high?

Wan Leader International's current Beneish M-Score is -3.27. Based on the distribution chart, Wan Leader International ranks #74 out of 964 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Wan Leader International has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Wan Leader International's Beneish M-Score compare to UPS and FDX?

According to the Transportation industry distribution chart, Wan Leader International ranks #74 out of 964 companies for Beneish M-Score. This places Wan Leader International in the top 8% 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 Transportation company?

A good Beneish M-Score depends on the Transportation 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 Wan Leader International and its competitors. Wan Leader International's current Beneish M-Score is -3.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Wan Leader International stock overvalued right now?

Based on GuruFocus' analysis, Wan Leader International (HKSE:08482) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.15, compared to a current price of HK$0.10 — trading 30.7% below its estimated fair value. The current Beneish M-Score is -3.27. Wan Leader International's overall GF Score™ is 40/100 with 8 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 Wan Leader International (HKSE:08482), the current Beneish M-Score is -3.27 as of Jul. 08, 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 Wan Leader International (HKSE:08482) Overvalued in 2026?

Based on GuruFocus' analysis, Wan Leader International stock appears to be undervalued. The current stock price of HK$0.10 is trading 30.7% below its estimated GF Value™ of HK$0.15. GuruFocus considers Wan Leader International to be Possible Value Trap.

Key valuation signals for HKSE:08482:

Beneish M-Score: -3.27
GF Value™: HK$0.15 vs. price of HK$0.10 (30.7% below fair value)
GF Score™: 40/100 with 8 warning signs

No single metric tells the full story. See the HKSE:08482 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Wan Leader International Business Description

Industry Industrials Transportation

Comparable Companies HKSE:08035 HKSE:08489 UPS FDX XTER:DHL OCSE:DSV XSWX:KNIN JBHT SZSE:002352 FDXF CHRW EXPD ZTO HKSE:01519 HKSE:02618 XAMS:INPST XKRX:086280 SHSE:600233 TSE:9147 LSTR

Address 18 Container Port Road South, Office Tower Unit 903, Hutchison Logistics Centre, Terminal 4, Kwai Chung Container Port, Kwai Chung, New Territories, HKG

Website https://www.wanleader.com

Wan Leader International Ltd is an investment holding company and the principal activities of its subsidiaries include the provision of freight forwarding and related logistics services and the provision of entrusted management services for operating an online e-commerce platform and Trading of fashion items. It generates maximum revenue from the Freight forwarding and related logistics services segment. Geographically, it generates the majority of its revenue from Hongkong.

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

HK$0.10

Price

HK$0.15

GF Value

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