Zixin Group Holdings (SGX:42W) Beneish M-Score: -1.63 (As of Aug. 27, 2026)

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What is Zixin Group Holdings Beneish M-Score?

Zixin Group Holdings SGX:42W Beneish M-Score is -1.63 as of Aug. 27, 2026. The stock has 3 warning signs investors should review. Among 1,865 Consumer Packaged Goods companies, Zixin Group Holdings ranks worse than 85.42% 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.

Warning Sign:

Beneish M-Score -1.63 higher than -1.78, which implies that the company might have manipulated its financial results.

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

SGX:42W' s Beneish M-Score Range Over the Past 10 Years
Min: -3.84   Med: -2.08   Max: 3.59
Current: -1.63

During the past 13 years, the highest Beneish M-Score of Zixin Group Holdings was 3.59. The lowest was -3.84. And the median was -2.08.

Zixin Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Zixin Group 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.

Zixin Group Holdings Beneish M-Score Chart

Zixin Group Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.01 -3.84 -1.94 -2.08 -1.63

Zixin Group Holdings Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 -1.94 0.00 -2.08 0.00 -1.63

SGX:42W vs KHC, GIS, HRL: Beneish M-Score Comparison

For the Packaged Foods subindustry, Zixin Group 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.

Zixin Group Holdings Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Zixin Group Holdings's Beneish M-Score distribution charts can be found below:

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


Zixin Group 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 Zixin Group 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 * 0.8905+0.528 * 1.0841+0.404 * 0.8624+0.892 * 1.4415+0.115 * 0.7209
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8175+4.679 * 0.113729-0.327 * 0.8996
=-1.63

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was S$21.7 Mil.
Revenue was S$112.8 Mil.
Gross Profit was S$32.9 Mil.
Total Current Assets was S$98.8 Mil.
Total Assets was S$158.4 Mil.
Property, Plant and Equipment(Net PPE) was S$30.3 Mil.
Depreciation, Depletion and Amortization(DDA) was S$3.8 Mil.
Selling, General, & Admin. Expense(SGA) was S$8.4 Mil.
Total Current Liabilities was S$26.7 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.0 Mil.
Net Income was S$12.0 Mil.
Gross Profit was S$0.0 Mil.
Cash Flow from Operations was S$-6.0 Mil.
 Total Receivables was S$16.9 Mil.
Revenue was S$78.2 Mil.
Gross Profit was S$24.8 Mil.
Total Current Assets was S$70.2 Mil.
Total Assets was S$131.1 Mil.
Property, Plant and Equipment(Net PPE) was S$32.8 Mil.
Depreciation, Depletion and Amortization(DDA) was S$2.9 Mil.
Selling, General, & Admin. Expense(SGA) was S$7.1 Mil.
Total Current Liabilities was S$24.5 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.0 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)
=(21.713 / 112.784) / (16.915 / 78.242)
=0.192518 / 0.216188
=0.8905

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)
=(24.755 / 78.242) / (32.915 / 112.784)
=0.31639 / 0.291841
=1.0841

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 - (98.832 + 30.299) / 158.42) / (1 - (70.166 + 32.796) / 131.058)
=0.184882 / 0.214378
=0.8624

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
=112.784 / 78.242
=1.4415

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))
=(2.886 / (2.886 + 32.796)) / (3.829 / (3.829 + 30.299))
=0.080881 / 0.112195
=0.7209

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)
=(8.407 / 112.784) / (7.134 / 78.242)
=0.074541 / 0.091179
=0.8175

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)
=((0.028 + 26.662) / 158.42) / ((0 + 24.545) / 131.058)
=0.168476 / 0.187283
=0.8996

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
=(11.969 - 0 - -6.048) / 158.42
=0.113729

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.

Zixin Group Holdings has a M-score of -1.63 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 -1.63 mean?
Zixin Group Holdings (SGX:42W) has a Beneish M-Score of -1.63 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Zixin Group Holdings and its competitors. According to the industry distribution chart, Zixin Group Holdings ranks #1593 out of 1865 companies in the Consumer Packaged Goods industry, placing it in the top 85.4%.
Is Zixin Group Holdings' Beneish M-Score too high?
Zixin Group Holdings' current Beneish M-Score is -1.63. Based on the distribution chart, Zixin Group Holdings ranks #1593 out of 1865 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers.
How does Zixin Group Holdings' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Zixin Group Holdings ranks #1593 out of 1865 companies for Beneish M-Score. This places Zixin Group Holdings in the lower 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Zixin Group Holdings and its competitors. Zixin Group Holdings's current Beneish M-Score is -1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zixin Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Zixin Group Holdings (SGX:42W) is currently considered Modestly Undervalued. The stock's GF Value™ is S$0.03, compared to a current price of S$0.03 — trading 10% below its estimated fair value. The current Beneish M-Score is -1.63. 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 Zixin Group Holdings (SGX:42W), the current Beneish M-Score is -1.63 as of Aug. 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.

Zixin Group Holdings Business Description

Address 60 Paya Lebar Road, No. 13-40 Paya Lebar Square, Singapore, SGP, 409051
Zixin Group Holdings Ltd is an investment holding company. The group is engaged in the research, production, and distribution of sweet potato food products across China, processed from purple sweet potatoes. The company generates its revenue from Sweet potato processed products and sweet potatoes, where the majority is generated from Sweet potato processed products.