ISP Global (HKSE:08487) Beneish M-Score: -5.02 (As of Jul. 05, 2026)


What is ISP Global Beneish M-Score?

ISP Global HKSE:08487 -3.64% Beneish M-Score is -5.02 as of Jul. 05, 2026. The stock has 6 warning signs investors should review. Among 2,405 Hardware companies, ISP Global ranks better than 98.05% 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 -5.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:08487' s Beneish M-Score Range Over the Past 10 Years
Min: -5.02   Med: -2.43   Max: -0.17
Current: -5.02

During the past 10 years, the highest Beneish M-Score of ISP Global was -0.17. The lowest was -5.02. And the median was -2.43.

ISP Global Beneish M-Score Historical Data

* Premium members only.

The historical data trend for ISP Global'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.

ISP Global Beneish M-Score Chart

ISP Global Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.17 -1.03 -2.32 -2.78 -5.02

ISP Global Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -2.78 0.00 -5.02 0.00

HKSE:08487 vs CSCO, CIEN, MSI: Beneish M-Score Comparison

For the Communication Equipment subindustry, ISP Global'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.

ISP Global Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, ISP Global's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where ISP Global's Beneish M-Score falls into.


ISP Global 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 ISP Global 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 * 0.5998+0.528 * 1.1787+0.404 * 0.6465+0.892 * 1.0763+0.115 * 1.2749
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7161+4.679 * -0.488696-0.327 * 0.9441
=-5.02

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was HK$20.9 Mil.
Revenue was HK$253.3 Mil.
Gross Profit was HK$73.7 Mil.
Total Current Assets was HK$119.0 Mil.
Total Assets was HK$151.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$31.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$50.5 Mil.
Total Current Liabilities was HK$62.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$20.5 Mil.
Net Income was HK$-16.3 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$57.5 Mil.
 Total Receivables was HK$32.4 Mil.
Revenue was HK$235.3 Mil.
Gross Profit was HK$80.7 Mil.
Total Current Assets was HK$171.6 Mil.
Total Assets was HK$200.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$28.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$4.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$65.5 Mil.
Total Current Liabilities was HK$95.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$21.0 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)
=(20.945 / 253.312) / (32.444 / 235.344)
=0.082685 / 0.137858
=0.5998

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)
=(80.745 / 235.344) / (73.732 / 253.312)
=0.343094 / 0.291072
=1.1787

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 - (118.952 + 31.672) / 151.096) / (1 - (171.583 + 27.968) / 200.52)
=0.003124 / 0.004832
=0.6465

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
=253.312 / 235.344
=1.0763

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))
=(4.084 / (4.084 + 27.968)) / (3.517 / (3.517 + 31.672))
=0.127418 / 0.099946
=1.2749

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)
=(50.505 / 253.312) / (65.529 / 235.344)
=0.199379 / 0.278439
=0.7161

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)
=((20.516 + 62.418) / 151.096) / ((21.049 + 95.535) / 200.52)
=0.548883 / 0.581408
=0.9441

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
=(-16.308 - 0 - 57.532) / 151.096
=-0.488696

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.

ISP Global has a M-score of -5.02 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 -5.02 mean?
ISP Global (HKSE:08487) has a Beneish M-Score of -5.02 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ISP Global and its competitors. According to the industry distribution chart, ISP Global ranks #47 out of 2405 companies in the Hardware industry, placing it in the top 2%.
Is ISP Global's Beneish M-Score too high?
ISP Global's current Beneish M-Score is -5.02. Based on the distribution chart, ISP Global ranks #47 out of 2405 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers.
How does ISP Global's Beneish M-Score compare to CSCO and CIEN?
According to the Hardware industry distribution chart, ISP Global ranks #47 out of 2405 companies for Beneish M-Score. This places ISP Global in the top 2% 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 ISP Global and its competitors. ISP Global's current Beneish M-Score is -5.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ISP Global stock overvalued right now?
Based on GuruFocus' analysis, ISP Global (HKSE:08487) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.09, compared to a current price of HK$0.05 — trading 41.1% below its estimated fair value. The current Beneish M-Score is -5.02. 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 ISP Global (HKSE:08487), the current Beneish M-Score is -5.02 as of Jul. 05, 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.

ISP Global Business Description

Address 18 Harbour Road, Central Plaza, Suite 4302, 43rd Floor, Wanchai, Hong Kong, HKG
ISP Global Ltd is an investment holding company engaged in the sale and provision of integrated services for networking, sound, and communication systems in Singapore and the People's Republic of China (PRC). Additionally, it operates e-commerce businesses in the PRC and Malaysia. The Group's two main segments are e-commerce operations, focusing on brand marketing, online agency operations, retail, and distribution, and the sale and provision of integrated services for networking, sound, and communication systems, including alert alarm solutions. The majority of the Group's revenue is generated from its e-commerce operations. The Company operates in Singapore, Malaysia, Hong Kong, and the PRC, with the majority of its revenue coming from the PRC.