KRFG (King Resources) Beneish M-Score: -87.90 (As of Jul. 11, 2026)


KRFG King Resources Inc KRFG
42 GF Score
Price $0.26
GF Value $1.30
Valuation Possible Value Trap
! 6 Warning Signs
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What is King Resources Beneish M-Score?

King Resources KRFG 42 Beneish M-Score is -87.90 as of Jul. 11, 2026. GuruFocus rates KRFG with a GF Score™ of 42/100 and a GF Value™ of $1.30 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 2,914 Industrial Products companies, King Resources ranks better than 99.93% 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 -87.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

KRFG' s Beneish M-Score Range Over the Past 10 Years
Min: -1401.02   Med: -43.76   Max: 16.93
Current: -87.9

During the past 7 years, the highest Beneish M-Score of King Resources was 16.93. The lowest was -1401.02. And the median was -43.76.

King Resources Beneish M-Score Historical Data

* Premium members only.

The historical data trend for King Resources'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.

King Resources Beneish M-Score Chart

King Resources Annual Data
Trend Oct99 Oct00 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -3.43 -6.54 -47.72 -573.66

King Resources Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 -1,401.02 -573.66 -51.31 0.00 -87.90

KRFG vs CCTG, LNKS, RAYA: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, King Resources'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 Resources Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, King Resources's Beneish M-Score distribution charts can be found below:

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


KRFG
42GF Score
King Resources Inc KRFG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

King Resources 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 Resources 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 * 1+0.528 * 3.2431+0.404 * 0+0.892 * 8.5132+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3309+4.679 * -19.945946-0.327 * 0.054
=-87.90

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $0.04 Mil.
Revenue was 0.59 + 0.019 + 0.019 + 0.019 = $0.65 Mil.
Gross Profit was 0.06 + 0.008 + 0.008 + 0.008 = $0.08 Mil.
Total Current Assets was $0.07 Mil.
Total Assets was $0.07 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $1.62 Mil.
Total Current Liabilities was $1.20 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.746 + -0.325 + -0.308 + 0.238 = $-1.14 Mil.
Non Operating Income was 0 + 0 + 0 + 0.465 = $0.47 Mil.
Cash Flow from Operations was 0.02 + -0.055 + -0.043 + -0.052 = $-0.13 Mil.
 Total Receivables was $0.00 Mil.
Revenue was 0.019 + 0.019 + 0.019 + 0.019 = $0.08 Mil.
Gross Profit was 0.008 + 0.008 + 0.008 + 0.008 = $0.03 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $0.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $0.58 Mil.
Total Current Liabilities was $1.20 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(0.044 / 0.647) / (0 / 0.076)
=0.068006 / 0
=1

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)
=(0.032 / 0.076) / (0.084 / 0.647)
=0.421053 / 0.12983
=3.2431

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 - (0.074 + 0) / 0.074) / (1 - (0.002 + 0) / 0.004)
=0 / 0.5
=0

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
=0.647 / 0.076
=8.5132

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))
=(0.013 / (0.013 + 0)) / (0.001 / (0.001 + 0))
=1 / 1
=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)
=(1.62 / 0.647) / (0.575 / 0.076)
=2.503864 / 7.565789
=0.3309

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 + 1.195) / 0.074) / ((0 + 1.196) / 0.004)
=16.148649 / 299
=0.054

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
=(-1.141 - 0.465 - -0.13) / 0.074
=-19.945946

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 Resources has a M-score of -87.90 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 -87.90 mean?
King Resources (KRFG) has a Beneish M-Score of -87.90 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on King Resources and its competitors. According to the industry distribution chart, King Resources ranks #2 out of 2914 companies in the Industrial Products industry, placing it in the top 0.099999999999994%.
Is King Resources' Beneish M-Score too high?
King Resources' current Beneish M-Score is -87.90. Based on the distribution chart, King Resources ranks #2 out of 2914 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, King Resources has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does King Resources' Beneish M-Score compare to CCTG and LNKS?
According to the Industrial Products industry distribution chart, King Resources ranks #2 out of 2914 companies for Beneish M-Score. This places King Resources in the top 0% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 King Resources and its competitors. King Resources's current Beneish M-Score is -87.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is King Resources stock overvalued right now?
Based on GuruFocus' analysis, King Resources (KRFG) is currently considered Possible Value Trap. The stock's GF Value™ is $1.30, compared to a current price of $0.26 — trading 80% below its estimated fair value. The current Beneish M-Score is -87.90. King Resources' overall GF Score™ is 42/100 with 6 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 King Resources (KRFG), the current Beneish M-Score is -87.90 as of Jul. 11, 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 King Resources (KRFG) Overvalued in 2026?

Based on GuruFocus' analysis, King Resources stock appears to be undervalued. The current stock price of $0.26 is trading 80% below its estimated GF Value™ of $1.30. GuruFocus considers King Resources to be Possible Value Trap.

Key valuation signals for KRFG:

  • Beneish M-Score: -87.90
  • GF Value™: $1.30 vs. price of $0.26 (80% below fair value)
  • GF Score™: 42/100 with 6 warning signs

No single metric tells the full story. See the KRFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

King Resources Business Description

Address 26-28 Au Pui Wan Street, Unit 1813, 18th Floor, Fo Tan Industrial Centre, Fo Tan, Hong Kong, HKG
King Resources Inc through its subsidiaries, is engaged in the rendering of smart power supply solutions and the related technical service as well as lifestyle products in Hong Kong. The company focuses on research and development solutions, sales of own brand smart power supply products and development of IoT products across the smart home, smart office and smart fitness ecosystem. The company's segment includes the provision of technical consultancy services in Hong Kong.
42GF Score

Get the complete analysis for KRFG

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

$0.26
Price
$1.30
GF Value