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SanbaseHKSE:08501 41 Beneish M-Score is -1.86 as of Aug. 17, 2026. GuruFocus rates HKSE:08501 with a GF Score™ of 41/100 and a GF Value™ of HK$0.29 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,018 Business Services companies, Sanbase ranks worse than 83.2% 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 -1.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sanbase's Beneish M-Score or its related term are showing as below:
HKSE:08501'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.4 Med: -2.17 Max: -0.83
Current: -1.86
During the past 11 years, the highest Beneish M-Score of Sanbase was -0.83. The lowest was -3.40. And the median was -2.17.
The historical data trend for Sanbase'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.
HKSE:08501 vs VRSK, EFX, BAH: Beneish M-Score Comparison
For the Consulting Services subindustry, Sanbase'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.
Sanbase Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Sanbase's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sanbase's Beneish M-Score falls into.
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 Sanbase 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 * 0.7406
+
0.528 * 4.5714
+
0.404 * 0.6123
+
0.892 * 0.8231
+
0.115 * 1.0515
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2344
+
4.679 * -0.148627
-
0.327 * 0.9458
=
-1.86
* 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))
=
(2.976 / (2.976 + 2.661))
/
(1.939 / (1.939 + 1.923))
=
0.52794
/
0.502071
=
1.0515
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
=
(-13.594 - 0
-
19.178)
/
220.498
=
-0.148627
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.
Sanbase has a M-score of -1.86 suggests that the company is unlikely to be a manipulator.
Sanbase (HKSE:08501) has a Beneish M-Score of -1.86 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sanbase and its competitors. According to the industry distribution chart, Sanbase ranks #847 out of 1018 companies in the Business Services industry, placing it in the top 83.2%.
Is Sanbase's Beneish M-Score too high?
Sanbase's current Beneish M-Score is -1.86. Based on the distribution chart, Sanbase ranks #847 out of 1018 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Sanbase has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sanbase's Beneish M-Score compare to VRSK and EFX?
According to the Business Services industry distribution chart, Sanbase ranks #847 out of 1018 companies for Beneish M-Score. This places Sanbase 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Sanbase and its competitors. Sanbase's current Beneish M-Score is -1.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sanbase stock overvalued right now?
Based on GuruFocus' analysis, Sanbase (HKSE:08501) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.29, compared to a current price of HK$0.90 — trading 210.3% above its estimated fair value. The current Beneish M-Score is -1.86. Sanbase's overall GF Score™ is 41/100 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 Sanbase (HKSE:08501), the current Beneish M-Score is -1.86 as of Aug. 17, 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 Sanbase (HKSE:08501) Overvalued in 2026?
Based on GuruFocus' analysis, Sanbase stock appears to be overvalued.
The current stock price of HK$0.90 is trading 210.3% above its estimated GF Value™ of HK$0.29.
GuruFocus considers Sanbase to be Significantly Overvalued.
Key valuation signals for HKSE:08501:
Beneish M-Score: -1.86
GF Value™: HK$0.29 vs. price of HK$0.90 (210.3% above fair value)
No single metric tells the full story. See the HKSE:08501 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sanbase Corp Ltd is an investment holding company. The company is engaged in providing interior fit-out solutions. It focuses on providing services to clients whose offices are predominately situated in Grade A offices in Hong Kong and the PRC. The Company's segments cover Bare shell fit-out, Restacking, Reinstatement, Design, Churn works and Maintenance and others. It derives key revenue from Hong Kong as well as from Bare shell fit-out segment. The company operates in the PRC and Hong Kong.
41GF Score
Get the complete analysis for HKSE:08501
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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