JL (J-Long Group) Beneish M-Score: -3.24 (As of Jun. 24, 2026)


JL J-Long Group Ltd JL
24 GF Score
Price $5.81
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What is J-Long Group Beneish M-Score?

J-Long Group JL -3.97% 24 Beneish M-Score is -3.24 as of Jun. 24, 2026. GuruFocus rates JL with a GF Score™ of 24/100. Among 1,003 Manufacturing - Apparel & Accessories companies, J-Long Group ranks better than 88.63% 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 -3.24 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

JL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.24   Med: -2.55   Max: 3.03
Current: -3.24

During the past 5 years, the highest Beneish M-Score of J-Long Group was 3.03. The lowest was -3.24. And the median was -2.55.

J-Long Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for J-Long 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.

J-Long Group Beneish M-Score Chart

J-Long Group Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 3.03 -2.55 -3.24

J-Long Group Semi-Annual Data
Mar21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 -2.55 0.00 -3.24 0.00

JL vs NCI, XELB, PMNT: Beneish M-Score Comparison

For the Apparel Manufacturing subindustry, J-Long 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.

J-Long Group Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, J-Long Group's Beneish M-Score distribution charts can be found below:

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


JL
24GF Score
J-Long Group Ltd JL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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J-Long 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 J-Long Group 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 * 0.6287+0.528 * 0.8314+0.404 * 1.8881+0.892 * 1.3769+0.115 * 1.1159
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0087+4.679 * -0.22785-0.327 * 0.9013
=-3.24

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was $3.52 Mil.
Revenue was $39.08 Mil.
Gross Profit was $11.26 Mil.
Total Current Assets was $18.98 Mil.
Total Assets was $23.45 Mil.
Property, Plant and Equipment(Net PPE) was $4.21 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.22 Mil.
Selling, General, & Admin. Expense(SGA) was $8.40 Mil.
Total Current Liabilities was $7.09 Mil.
Long-Term Debt & Capital Lease Obligation was $1.32 Mil.
Net Income was $2.59 Mil.
Gross Profit was $0.71 Mil.
Cash Flow from Operations was $7.23 Mil.
 Total Receivables was $4.06 Mil.
Revenue was $28.38 Mil.
Gross Profit was $6.80 Mil.
Total Current Assets was $14.28 Mil.
Total Assets was $16.89 Mil.
Property, Plant and Equipment(Net PPE) was $2.51 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.15 Mil.
Selling, General, & Admin. Expense(SGA) was $6.05 Mil.
Total Current Liabilities was $5.34 Mil.
Long-Term Debt & Capital Lease Obligation was $1.38 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)
=(3.518 / 39.075) / (4.064 / 28.379)
=0.090032 / 0.143204
=0.6287

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)
=(6.797 / 28.379) / (11.257 / 39.075)
=0.239508 / 0.288087
=0.8314

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 - (18.976 + 4.208) / 23.454) / (1 - (14.281 + 2.51) / 16.894)
=0.011512 / 0.006097
=1.8881

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
=39.075 / 28.379
=1.3769

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))
=(0.148 / (0.148 + 2.51)) / (0.221 / (0.221 + 4.208))
=0.055681 / 0.049898
=1.1159

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)
=(8.403 / 39.075) / (6.05 / 28.379)
=0.215048 / 0.213186
=1.0087

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)
=((1.322 + 7.088) / 23.454) / ((1.382 + 5.339) / 16.894)
=0.358574 / 0.397834
=0.9013

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
=(2.593 - 0.711 - 7.226) / 23.454
=-0.22785

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.

J-Long Group has a M-score of -3.24 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 -3.24 mean?
J-Long Group (JL) has a Beneish M-Score of -3.24 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on J-Long Group and its competitors. According to the industry distribution chart, J-Long Group ranks #114 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 11.4%.
Is J-Long Group's Beneish M-Score too high?
J-Long Group's current Beneish M-Score is -3.24. Based on the distribution chart, J-Long Group ranks #114 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, J-Long Group has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does J-Long Group's Beneish M-Score compare to NCI and XELB?
According to the Manufacturing - Apparel & Accessories industry distribution chart, J-Long Group ranks #114 out of 1003 companies for Beneish M-Score. This places J-Long Group in the top 11% 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 J-Long Group and its competitors. J-Long Group's current Beneish M-Score is -3.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is J-Long Group stock overvalued right now?
J-Long Group (JL) has a current Beneish M-Score of -3.24. The current Beneish M-Score is -3.24. J-Long Group's overall GF Score™ is 24/100. 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 J-Long Group (JL), the current Beneish M-Score is -3.24 as of Jun. 24, 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.

J-Long Group Business Description

Address 32-40 Wang Lung Street, Flat F, 8th Floor, Houston Industrial Building, Tsuen Wan New Territories, Hong Kong, HKG
J-Long Group Ltd is an established distributor in Hong Kong of reflective and non-reflective garment trims including, among others, heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pullers and drawcords. It also offers a wide range of apparel solution services to cater to its customers' needs for reflective and non-reflective garment trims, ranging from market trend analysis, product design and development and production to quality control. The company operates in Asia (excluding other than Hong Kong and China), Hong Kong, China, and Others (Non-Asian).
24GF Score

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

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