JMG (JM Group) Beneish M-Score: -1.35 (As of Jun. 27, 2026)


JMG JM Group Ltd JMG
25 GF Score
Price $6.61
! 4 Warning Signs
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What is JM Group Beneish M-Score?

JM Group JMG 25 Beneish M-Score is -1.35 as of Jun. 27, 2026. GuruFocus rates JMG with a GF Score™ of 25/100. The stock has 4 warning signs investors should review.

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 -1.35 higher than -1.78, which implies that the company might have manipulated its financial results.

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

JMG' s Beneish M-Score Range Over the Past 10 Years
Min: -1.35   Med: -1.35   Max: -1.35
Current: -1.35

During the past 3 years, the highest Beneish M-Score of JM Group was -1.35. The lowest was -1.35. And the median was -1.35.

JM Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for JM 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.

JM Group Beneish M-Score Chart

JM Group Annual Data
Trend Sep23 Sep24 Sep25
Beneish M-Score
0.00 0.00 -1.35

JM Group Semi-Annual Data
Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score 0.00 0.00 0.00 0.00 -1.35

JMG vs BARK, CHPT, NPT: Beneish M-Score Comparison

For the Specialty Retail subindustry, JM 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.

JM Group Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, JM Group's Beneish M-Score distribution charts can be found below:

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


JMG
25GF Score
JM Group Ltd JMG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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JM 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 JM 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 * 0.9714+0.528 * 1.0358+0.404 * 2.4592+0.892 * 1.2186+0.115 * 1.0885
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9605+4.679 * 0.056082-0.327 * 0.7869
=-1.35

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was $9.44 Mil.
Revenue was $34.61 Mil.
Gross Profit was $4.91 Mil.
Total Current Assets was $14.29 Mil.
Total Assets was $14.87 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.16 Mil.
Selling, General, & Admin. Expense(SGA) was $3.63 Mil.
Total Current Liabilities was $17.16 Mil.
Long-Term Debt & Capital Lease Obligation was $0.75 Mil.
Net Income was $2.40 Mil.
Gross Profit was $-0.51 Mil.
Cash Flow from Operations was $2.08 Mil.
 Total Receivables was $7.98 Mil.
Revenue was $28.40 Mil.
Gross Profit was $4.17 Mil.
Total Current Assets was $10.01 Mil.
Total Assets was $10.24 Mil.
Property, Plant and Equipment(Net PPE) was $0.10 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.15 Mil.
Selling, General, & Admin. Expense(SGA) was $3.10 Mil.
Total Current Liabilities was $14.67 Mil.
Long-Term Debt & Capital Lease Obligation was $1.00 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)
=(9.441 / 34.605) / (7.975 / 28.397)
=0.272822 / 0.28084
=0.9714

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)
=(4.169 / 28.397) / (4.905 / 34.605)
=0.146811 / 0.141743
=1.0358

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 - (14.292 + 0.129) / 14.871) / (1 - (10.011 + 0.103) / 10.24)
=0.03026 / 0.012305
=2.4592

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
=34.605 / 28.397
=1.2186

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))
=(0.154 / (0.154 + 0.103)) / (0.158 / (0.158 + 0.129))
=0.599222 / 0.550523
=1.0885

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)
=(3.633 / 34.605) / (3.104 / 28.397)
=0.104985 / 0.109307
=0.9605

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)
=((0.749 + 17.161) / 14.871) / ((1.003 + 14.669) / 10.24)
=1.204357 / 1.530469
=0.7869

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
=(2.396 - -0.513 - 2.075) / 14.871
=0.056082

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.

JM Group has a M-score of -1.35 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.35 mean?
JM Group (JMG) has a Beneish M-Score of -1.35 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on JM Group and its competitors.
Is JM Group's Beneish M-Score too high?
JM Group's current Beneish M-Score is -1.35. Overall, JM Group has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does JM Group's Beneish M-Score compare to BARK and CHPT?
JM Group's Beneish M-Score of -1.35 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 JM Group and its competitors. JM Group's current Beneish M-Score is -1.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JM Group stock overvalued right now?
JM Group (JMG) has a current Beneish M-Score of -1.35. The current Beneish M-Score is -1.35. JM Group's overall GF Score™ is 25/100 with 4 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 JM Group (JMG), the current Beneish M-Score is -1.35 as of Jun. 27, 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.

JM Group Business Description

Address 1 Hok Cheung Street, Unit 812, 8th Floor, Harbour Center Tower 1, Hung Hom, Kowloon, Hong Kong, HKG
JM Group Ltd is engaged in the sourcing and wholesaling of toys, gifts, household products and other products for international brand owners. Its products can be broadly classified into eight categories: (i) sports and outdoor recreation products, including water gun, umbrella, pool volleyball, athletic equipment and accessories, (ii) toys and games, (iii) seasonable decor and party supplies, including interior decorative elements, Christmas tree, and other general festival and event decorative goods, (iv) electronics, including electronic toys and automotive battery; (v) home and tools, (vi) school, office and art supplies, including art and craft, (vii) clothing, shoes and accessories, (vii) personal care products, such as personal care appliance, and (viii) others.
25GF 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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