NYKHF (Nayuki Holdings) Beneish M-Score: -3.15 (As of Jun. 29, 2026)


What is Nayuki Holdings Beneish M-Score?

Nayuki Holdings NYKHF 68 Beneish M-Score is -3.15 as of Jun. 29, 2026. GuruFocus rates NYKHF with a GF Score™ of 68/100. The stock has 3 warning signs investors should review. Among 356 Restaurants companies, Nayuki Holdings ranks better than 76.4% 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 -3.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NYKHF' s Beneish M-Score Range Over the Past 10 Years
Min: -6.14   Med: -2.79   Max: 34.89
Current: -3.15

During the past 8 years, the highest Beneish M-Score of Nayuki Holdings was 34.89. The lowest was -6.14. And the median was -2.79.

Nayuki Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nayuki 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.

Nayuki Holdings Beneish M-Score Chart

Nayuki Holdings Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -6.14 -0.77 -2.43 -3.25 -3.15

Nayuki Holdings Semi-Annual Data
Dec18 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 -2.43 0.00 -3.25 0.00 -3.15

NYKHF vs MCD, SBUX, YUM: Beneish M-Score Comparison

For the Restaurants subindustry, Nayuki 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.

Nayuki Holdings Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Nayuki Holdings's Beneish M-Score distribution charts can be found below:

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


Nayuki 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 Nayuki 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 * 0.9066+0.528 * 0.9008+0.404 * 0.8286+0.892 * 0.9098+0.115 * 0.9945
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8586+4.679 * -0.095984-0.327 * 0.8817
=-3.15

* 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 $9.54 Mil.
Revenue was $614.95 Mil.
Gross Profit was $232.73 Mil.
Total Current Assets was $424.60 Mil.
Total Assets was $758.41 Mil.
Property, Plant and Equipment(Net PPE) was $242.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $76.98 Mil.
Selling, General, & Admin. Expense(SGA) was $42.52 Mil.
Total Current Liabilities was $130.33 Mil.
Long-Term Debt & Capital Lease Obligation was $111.38 Mil.
Net Income was $-33.95 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $38.85 Mil.
 Total Receivables was $11.57 Mil.
Revenue was $675.92 Mil.
Gross Profit was $230.42 Mil.
Total Current Assets was $397.40 Mil.
Total Assets was $846.78 Mil.
Property, Plant and Equipment(Net PPE) was $325.85 Mil.
Depreciation, Depletion and Amortization(DDA) was $102.84 Mil.
Selling, General, & Admin. Expense(SGA) was $54.43 Mil.
Total Current Liabilities was $158.32 Mil.
Long-Term Debt & Capital Lease Obligation was $147.76 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)
=(9.543 / 614.951) / (11.569 / 675.924)
=0.015518 / 0.017116
=0.9066

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)
=(230.416 / 675.924) / (232.729 / 614.951)
=0.34089 / 0.378451
=0.9008

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 - (424.603 + 242.131) / 758.405) / (1 - (397.401 + 325.848) / 846.78)
=0.120873 / 0.145883
=0.8286

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
=614.951 / 675.924
=0.9098

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))
=(102.837 / (102.837 + 325.848)) / (76.976 / (76.976 + 242.131))
=0.239889 / 0.241223
=0.9945

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)
=(42.517 / 614.951) / (54.43 / 675.924)
=0.069139 / 0.080527
=0.8586

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)
=((111.383 + 130.331) / 758.405) / ((147.763 + 158.32) / 846.78)
=0.318714 / 0.361467
=0.8817

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
=(-33.945 - 0 - 38.85) / 758.405
=-0.095984

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.

Nayuki Holdings has a M-score of -3.15 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 -3.15 mean?
Nayuki Holdings (NYKHF) has a Beneish M-Score of -3.15 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nayuki Holdings and its competitors. According to the industry distribution chart, Nayuki Holdings ranks #84 out of 356 companies in the Restaurants industry, placing it in the top 23.6%.
Is Nayuki Holdings' Beneish M-Score too high?
Nayuki Holdings' current Beneish M-Score is -3.15. Based on the distribution chart, Nayuki Holdings ranks #84 out of 356 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers. Overall, Nayuki Holdings has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Nayuki Holdings' Beneish M-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Nayuki Holdings ranks #84 out of 356 companies for Beneish M-Score. This places Nayuki Holdings in the top 24% 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 Nayuki Holdings and its competitors. Nayuki Holdings's current Beneish M-Score is -3.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nayuki Holdings stock overvalued right now?
Nayuki Holdings (NYKHF) has a current Beneish M-Score of -3.15. The current Beneish M-Score is -3.15. Nayuki Holdings' overall GF Score™ is 68/100 with 3 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 Nayuki Holdings (NYKHF), the current Beneish M-Score is -3.15 as of Jun. 29, 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.

Nayuki Holdings Business Description

Other Exchanges 02150:Hong Kong
Address Baoxing Road, 4-5th Floor, OCT REAL ONE, Bao’an District, Shenzhen, CHN
Nayuki Holdings Ltd is a premium modern teahouse chain in China serving freshly-made tea drinks. The company has segment namely Freshly-made tea drinks business and franchise operations and Ready-to-drink beverage business. The group principally generates its revenue from the sales of freshly-made tea drinks, baked goods, and other products through its operating teahouses and online food delivery applications mainly in the PRC.