King Of Catering Global Holdings (HKSE:08619) Beneish M-Score : -0.94 (As of Mar. 29, 2025)

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What is King Of Catering Global Holdings 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.

Warning Sign:

Beneish M-Score -0.94 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:08619' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.35 Max: 2.59
Current: -0.94

During the past 9 years, the highest Beneish M-Score of King Of Catering Global Holdings was 2.59. The lowest was -3.04. And the median was -2.35.

King Of Catering Global Holdings Beneish M-Score Historical Data

The historical data trend for King Of Catering Global Holdings'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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King Of Catering Global Holdings Beneish M-Score Chart

King Of Catering Global Holdings Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-3.04

-1.61

0.84

-2.37

King Of Catering Global Holdings Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Mar24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.37	-2.42	-2.57	-	-0.94

Competitive Comparison of King Of Catering Global Holdings's Beneish M-Score

For the Engineering & Construction subindustry, King Of Catering Global 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.

King Of Catering Global Holdings's Beneish M-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, King Of Catering Global Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where King Of Catering Global Holdings's Beneish M-Score falls into.

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King Of Catering Global 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 King Of Catering Global Holdings 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 * 2.6331

0.528 * 0.8375

0.404 * 2.1448

0.892 * 0.592

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9661

4.679 * -0.0255

0.327 * 0.5919

-0.94

This Year (Sep24) TTM:

Last Year (Mar23) TTM:

Total Receivables was HK$103.35 Mil.
Revenue was 0 + 0 + 25.259 + 26.186 = HK$51.45 Mil.
Gross Profit was 0 + 0 + 7.795 + 9.53 = HK$17.33 Mil.
Total Current Assets was HK$132.88 Mil.
Total Assets was HK$190.51 Mil.
Property, Plant and Equipment(Net PPE) was HK$7.78 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was HK$12.63 Mil.
Total Current Liabilities was HK$35.51 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.72 Mil.
Net Income was 0 + 0 + -6.041 + 1.183 = HK$-4.86 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = HK$0.00 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = HK$0.00 Mil.

Total Receivables was HK$66.30 Mil.
Revenue was 11.891 + 29.541 + 25.058 + 20.414 = HK$86.90 Mil.
Gross Profit was 1.027 + 7.393 + 10.878 + 5.214 = HK$24.51 Mil.
Total Current Assets was HK$107.51 Mil.
Total Assets was HK$137.81 Mil.
Property, Plant and Equipment(Net PPE) was HK$13.49 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was HK$22.08 Mil.
Total Current Liabilities was HK$39.12 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6.38 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)
	=	(103.348 / 51.445)	/	(66.302 / 86.904)
	=	2.008903	/	0.762934
	=	2.6331

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)
	=	(24.512 / 86.904)	/	(17.325 / 51.445)
	=	0.282058	/	0.336767
	=	0.8375

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 - (132.88 + 7.777) / 190.509)	/	(1 - (107.505 + 13.489) / 137.807)
	=	0.261678	/	0.122004
	=	2.1448

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
	=	51.445	/	86.904
	=	0.592

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))
	=	(0 / (0 + 13.489))	/	(0 / (0 + 7.777))
	=	0	/	0
	=	1

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)
	=	(12.629 / 51.445)	/	(22.082 / 86.904)
	=	0.245485	/	0.254096
	=	0.9661

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)
	=	((1.723 + 35.509) / 190.509)	/	((6.382 + 39.116) / 137.807)
	=	0.195434	/	0.330157
	=	0.5919

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
	=	(-4.858 - 0	-	0)	/	190.509
	=	-0.0255

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.

King Of Catering Global Holdings has a M-score of -0.94 signals that the company is likely to be a manipulator.

King Of Catering Global Holdings Beneish M-Score Related Terms

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King Of Catering Global Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » King Of Catering Global Holdings Ltd (HKSE:08619) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

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Address

9 Wing Hong Street, Floor 9, Cheung Sha Wan, Kowloon, Hong Kong, HKG

Website

http://www.wcce.hk

King Of Catering Global Holdings Ltd is a construction engineering consultant, focusing on the area of comprehensive structural and geotechnical engineering. The consultancy service offered by the company includes structural engineering, which involves loading calculation and stress designs. The company also engaged in equipment rental services in Hong Kong. It generates revenue from the Construction of new properties, Refurbishment/maintenance of existing properties, and Others. The company generates the majority of its revenue from the Construction of new properties. The company generates almost all of its revenue from Hong Kong.

Executives

Chan Julia Gower	2202 Interest of your spouse
Chan Yin Nin	2201 Interest of corporation controlled by you
Kwong Po Lam	2101 Beneficial owner
Leung Kwai Ping	2202 Interest of your spouse
Wan Nian Di Chan Fa Zhan You Xian Gong Si	2101 Beneficial owner
Yuen Chi Ping	2101 Beneficial owner
Wong Man Hin Max	2101 Beneficial owner

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