NWFAF (New Focus Auto Tech Holdings) Beneish M-Score: -2.75 (As of Jul. 03, 2026)


What is New Focus Auto Tech Holdings Beneish M-Score?

New Focus Auto Tech Holdings NWFAF Beneish M-Score is -2.75 as of Jul. 03, 2026. The stock has 5 warning signs investors should review. Among 1,276 Vehicles & Parts companies, New Focus Auto Tech Holdings ranks better than 70.69% 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 -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for New Focus Auto Tech Holdings's Beneish M-Score or its related term are showing as below:

NWFAF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.82   Med: -2.88   Max: -0.88
Current: -2.75

During the past 13 years, the highest Beneish M-Score of New Focus Auto Tech Holdings was -0.88. The lowest was -4.82. And the median was -2.88.

New Focus Auto Tech Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for New Focus Auto Tech 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.

New Focus Auto Tech Holdings Beneish M-Score Chart

New Focus Auto Tech Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.88 -1.48 -2.28 -2.87 -2.75

New Focus Auto Tech Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 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 -2.28 0.00 -2.87 0.00 -2.75

NWFAF vs ORLY, AZO: Beneish M-Score Comparison

For the Auto Parts subindustry, New Focus Auto Tech 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.

New Focus Auto Tech Holdings Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, New Focus Auto Tech Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where New Focus Auto Tech Holdings's Beneish M-Score falls into.


New Focus Auto Tech 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 New Focus Auto Tech Holdings 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 * 0.868+0.528 * 1.174+0.404 * 0.7721+0.892 * 1.167+0.115 * 0.8461
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0347+4.679 * -0.045784-0.327 * 1.1978
=-2.76

* 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 $63.76 Mil.
Revenue was $83.11 Mil.
Gross Profit was $11.91 Mil.
Total Current Assets was $87.01 Mil.
Total Assets was $209.83 Mil.
Property, Plant and Equipment(Net PPE) was $93.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.99 Mil.
Selling, General, & Admin. Expense(SGA) was $19.93 Mil.
Total Current Liabilities was $129.18 Mil.
Long-Term Debt & Capital Lease Obligation was $0.71 Mil.
Net Income was $-18.22 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-8.62 Mil.
 Total Receivables was $62.95 Mil.
Revenue was $71.22 Mil.
Gross Profit was $11.99 Mil.
Total Current Assets was $90.55 Mil.
Total Assets was $208.01 Mil.
Property, Plant and Equipment(Net PPE) was $79.32 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.14 Mil.
Selling, General, & Admin. Expense(SGA) was $16.50 Mil.
Total Current Liabilities was $99.25 Mil.
Long-Term Debt & Capital Lease Obligation was $8.24 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)
=(63.76 / 83.112) / (62.946 / 71.218)
=0.767158 / 0.88385
=0.868

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)
=(11.985 / 71.218) / (11.914 / 83.112)
=0.168286 / 0.143349
=1.174

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 - (87.005 + 93.127) / 209.831) / (1 - (90.55 + 79.323) / 208.006)
=0.141538 / 0.183326
=0.7721

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
=83.112 / 71.218
=1.167

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))
=(2.142 / (2.142 + 79.323)) / (2.987 / (2.987 + 93.127))
=0.026294 / 0.031078
=0.8461

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)
=(19.928 / 83.112) / (16.504 / 71.218)
=0.239773 / 0.231739
=1.0347

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)
=((0.706 + 129.179) / 209.831) / ((8.236 + 99.254) / 208.006)
=0.618998 / 0.516764
=1.1978

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
=(-18.224 - 0 - -8.617) / 209.831
=-0.045784

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.

New Focus Auto Tech Holdings has a M-score of -2.76 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 -2.75 mean?
New Focus Auto Tech Holdings (NWFAF) has a Beneish M-Score of -2.75 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on New Focus Auto Tech Holdings and its competitors. According to the industry distribution chart, New Focus Auto Tech Holdings ranks #374 out of 1276 companies in the Vehicles & Parts industry, placing it in the top 29.3%.
Is New Focus Auto Tech Holdings' Beneish M-Score too high?
New Focus Auto Tech Holdings' current Beneish M-Score is -2.75. Based on the distribution chart, New Focus Auto Tech Holdings ranks #374 out of 1276 companies in the Vehicles & Parts industry, which is above the industry midpoint.
How does New Focus Auto Tech Holdings' Beneish M-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, New Focus Auto Tech Holdings ranks #374 out of 1276 companies for Beneish M-Score. This puts New Focus Auto Tech Holdings in the upper 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 New Focus Auto Tech Holdings and its competitors. New Focus Auto Tech Holdings's current Beneish M-Score is -2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Focus Auto Tech Holdings stock overvalued right now?
New Focus Auto Tech Holdings (NWFAF) has a current Beneish M-Score of -2.75. The current Beneish M-Score is -2.75. 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 New Focus Auto Tech Holdings (NWFAF), the current Beneish M-Score is -2.75 as of Jul. 03, 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.

New Focus Auto Tech Holdings Business Description

Other Exchanges 00360:Hong Kong
Address 180 Hennessy Road, 5th Floor, Wan Chai, Hong Kong, HKG
New Focus Auto Tech Holdings Ltd focuses on the R&D, manufacturing and sales of automotive electronic products, the construction and development of automobile dealership networks and the R&D, sales and provision of integrated solutions for hydrogen fuel cells. The automotive electronic products include inverters, chargers, multi-functional power packs, and cooling and heating boxes. Its segments include Manufacturing and Trading Business engages in the manufacture and sale of automobile accessories; Automobile Dealership and Services Business engages in the operation of the 4S dealership stores and related business; and Hydrogen Fuel Cell Business engages in the research and development, sales and provision of integrated solutions for hydrogen fuel cell.