Leong Guan Holdings (SGX:LGH) Beneish M-Score: -3.12 (As of Aug. 22, 2026)

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SGX:LGH Leong Guan Holdings Ltd SGX:LGH
15 GF Score
Price S$0.23
! 2 Warning Signs
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What is Leong Guan Holdings Beneish M-Score?

Leong Guan Holdings SGX:LGH 15 Beneish M-Score is -3.12 as of Aug. 22, 2026. GuruFocus rates SGX:LGH with a GF Score™ of 15/100. The stock has 2 warning signs investors should review. Among 1,858 Consumer Packaged Goods companies, Leong Guan Holdings ranks better than 86.92% 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 -3.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGX:LGH' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12   Med: -2.72   Max: -2.31
Current: -3.12

During the past 4 years, the highest Beneish M-Score of Leong Guan Holdings was -2.31. The lowest was -3.12. And the median was -2.72.

Leong Guan Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Leong Guan 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.

Leong Guan Holdings Beneish M-Score Chart

Leong Guan Holdings Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.31 -3.12

Leong Guan Holdings Semi-Annual Data
Dec22 Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -2.31 -3.12

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

For the Packaged Foods subindustry, Leong Guan 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.

Leong Guan Holdings Beneish M-Score vs Consumer Packaged Goods Industry

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

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


SGX:LGH
15GF Score
Leong Guan Holdings Ltd SGX:LGH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Leong Guan 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 Leong Guan 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 * 0.6227+0.528 * 1.0164+0.404 * 0.6809+0.892 * 1.0663+0.115 * 2.4279
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.08912-0.327 * 0.9338
=-3.12

* 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 S$4.29 Mil.
Revenue was S$40.03 Mil.
Gross Profit was S$18.25 Mil.
Total Current Assets was S$12.54 Mil.
Total Assets was S$27.23 Mil.
Property, Plant and Equipment(Net PPE) was S$14.31 Mil.
Depreciation, Depletion and Amortization(DDA) was S$1.12 Mil.
Selling, General, & Admin. Expense(SGA) was S$0.00 Mil.
Total Current Liabilities was S$9.14 Mil.
Long-Term Debt & Capital Lease Obligation was S$7.56 Mil.
Net Income was S$0.50 Mil.
Gross Profit was S$0.00 Mil.
Cash Flow from Operations was S$2.93 Mil.
 Total Receivables was S$6.46 Mil.
Revenue was S$37.54 Mil.
Gross Profit was S$17.40 Mil.
Total Current Assets was S$13.81 Mil.
Total Assets was S$18.49 Mil.
Property, Plant and Equipment(Net PPE) was S$4.30 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.92 Mil.
Selling, General, & Admin. Expense(SGA) was S$0.00 Mil.
Total Current Liabilities was S$9.60 Mil.
Long-Term Debt & Capital Lease Obligation was S$2.55 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)
=(4.29 / 40.028) / (6.461 / 37.538)
=0.107175 / 0.172119
=0.6227

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)
=(17.395 / 37.538) / (18.249 / 40.028)
=0.463397 / 0.455906
=1.0164

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 - (12.543 + 14.306) / 27.233) / (1 - (13.808 + 4.303) / 18.494)
=0.014101 / 0.020709
=0.6809

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
=40.028 / 37.538
=1.0663

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))
=(0.919 / (0.919 + 4.303)) / (1.118 / (1.118 + 14.306))
=0.175986 / 0.072484
=2.4279

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)
=(0 / 40.028) / (0 / 37.538)
=0 / 0
=1

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)
=((7.564 + 9.141) / 27.233) / ((2.545 + 9.603) / 18.494)
=0.61341 / 0.656862
=0.9338

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
=(0.498 - 0 - 2.925) / 27.233
=-0.08912

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.

Leong Guan Holdings has a M-score of -3.12 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 -3.12 mean?
Leong Guan Holdings (SGX:LGH) has a Beneish M-Score of -3.12 as of Aug. 22, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Leong Guan Holdings and its competitors. According to the industry distribution chart, Leong Guan Holdings ranks #243 out of 1858 companies in the Consumer Packaged Goods industry, placing it in the top 13.1%.
Is Leong Guan Holdings' Beneish M-Score too high?
Leong Guan Holdings' current Beneish M-Score is -3.12. Based on the distribution chart, Leong Guan Holdings ranks #243 out of 1858 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Leong Guan Holdings has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Leong Guan Holdings' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Leong Guan Holdings ranks #243 out of 1858 companies for Beneish M-Score. This places Leong Guan Holdings in the top 13% 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 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 Leong Guan Holdings and its competitors. Leong Guan Holdings's current Beneish M-Score is -3.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Leong Guan Holdings stock overvalued right now?
Leong Guan Holdings (SGX:LGH) has a current Beneish M-Score of -3.12. The current Beneish M-Score is -3.12. Leong Guan Holdings' overall GF Score™ is 15/100 with 2 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 Leong Guan Holdings (SGX:LGH), the current Beneish M-Score is -3.12 as of Aug. 22, 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.

Leong Guan Holdings Business Description

Address 7 Woodlands Link, Singapore, SGP, 738722
Leong Guan Holdings Ltd is a food manufacturing and distribution company. The company specialise in the production of fresh noodle products and soy bean-based beancurd products, and also trades a wide range of complementary food items. Through its LG Brand and white-label offerings, the company aims to provide a one-stop food sourcing solution for its customers. The company operates in three main business segments, namely (i) self-manufactured products, (ii) trading products and (iii) original equipment manufacturer (OEM) products. The majority of its revenue is derived from the Self-manufactured products segment, which refers to the products manufactured by the company and delivered to customers under its own LG Brand. Geographically, the company generates maximum revenue from Singapore.
15GF 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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