TIRXF (Tian Ruixiang Holdings) Beneish M-Score: 0.00 (As of Aug. 30, 2026)

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What is Tian Ruixiang Holdings Beneish M-Score?

Tian Ruixiang Holdings TIRXF +50.00% Beneish M-Score is 0.00 as of Aug. 30, 2026. Among 404 Insurance companies, Tian Ruixiang Holdings ranks worse than 98.51% 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.

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

During the past 8 years, the highest Beneish M-Score of Tian Ruixiang Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

Tian Ruixiang Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tian Ruixiang 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.

Tian Ruixiang Holdings Beneish M-Score Chart

Tian Ruixiang Holdings Annual Data
Trend Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24
Beneish M-Score
Get a 7-Day Free Trial 1.21 1.23 40.21 149.53 63.26

Tian Ruixiang Holdings Semi-Annual Data
Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24 Apr25
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 0.00 149.53 0.00 63.26 0.00

TIRXF vs MRSH, AON, AJG: Beneish M-Score Comparison

For the Insurance Brokers subindustry, Tian Ruixiang 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.

Tian Ruixiang Holdings Beneish M-Score vs Insurance Industry

For the Insurance industry and Financial Services sector, Tian Ruixiang Holdings's Beneish M-Score distribution charts can be found below:

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


Tian Ruixiang 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 Tian Ruixiang 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 * 71.7671+0.528 * 1.3347+0.404 * 0+0.892 * 2.5876+0.115 * 0.7621
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4562+4.679 * -0.080217-0.327 * 1.7642
=63.26

* 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 (Oct24) TTM:Last Year (Oct23) TTM:
Total Receivables was $10.77 Mil.
Revenue was $3.22 Mil.
Gross Profit was $1.52 Mil.
Total Current Assets was $39.92 Mil.
Total Assets was $39.98 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.17 Mil.
Selling, General, & Admin. Expense(SGA) was $4.49 Mil.
Total Current Liabilities was $5.92 Mil.
Long-Term Debt & Capital Lease Obligation was $0.17 Mil.
Net Income was $-3.99 Mil.
Gross Profit was $-1.68 Mil.
Cash Flow from Operations was $0.90 Mil.
 Total Receivables was $0.06 Mil.
Revenue was $1.24 Mil.
Gross Profit was $0.78 Mil.
Total Current Assets was $27.62 Mil.
Total Assets was $35.48 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.08 Mil.
Selling, General, & Admin. Expense(SGA) was $3.80 Mil.
Total Current Liabilities was $3.06 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)
=(10.771 / 3.219) / (0.058 / 1.244)
=3.34607 / 0.046624
=71.7671

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)
=(0.783 / 1.244) / (1.518 / 3.219)
=0.629421 / 0.471575
=1.3347

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 - (39.921 + 0.058) / 39.979) / (1 - (27.619 + 0.061) / 35.48)
=0 / 0.219842
=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
=3.219 / 1.244
=2.5876

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))
=(0.08 / (0.08 + 0.061)) / (0.169 / (0.169 + 0.058))
=0.567376 / 0.744493
=0.7621

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)
=(4.486 / 3.219) / (3.8 / 1.244)
=1.3936 / 3.054662
=0.4562

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)
=((0.17 + 5.919) / 39.979) / ((0 + 3.063) / 35.48)
=0.152305 / 0.08633
=1.7642

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
=(-3.987 - -1.678 - 0.898) / 39.979
=-0.080217

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.

Tian Ruixiang Holdings has a M-score of 63.26 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 0.00 mean?
Tian Ruixiang Holdings (TIRXF) has a Beneish M-Score of 0.00 as of Aug. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tian Ruixiang Holdings and its competitors. According to the industry distribution chart, Tian Ruixiang Holdings ranks #398 out of 404 companies in the Insurance industry, placing it in the top 98.5%.
Is Tian Ruixiang Holdings' Beneish M-Score too high?
Tian Ruixiang Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, Tian Ruixiang Holdings ranks #398 out of 404 companies in the Insurance industry, which is in the bottom quartile relative to peers.
How does Tian Ruixiang Holdings' Beneish M-Score compare to MRSH and AON?
According to the Insurance industry distribution chart, Tian Ruixiang Holdings ranks #398 out of 404 companies for Beneish M-Score. This places Tian Ruixiang 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Tian Ruixiang Holdings and its competitors. Tian Ruixiang Holdings's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tian Ruixiang Holdings stock overvalued right now?
Tian Ruixiang Holdings (TIRXF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Tian Ruixiang Holdings (TIRXF), the current Beneish M-Score is 0.00 as of Aug. 30, 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.

Tian Ruixiang Holdings Business Description

Address Room 918, Jingding Building, Xicheng District, Beijing, CHN, 100000
Tian Ruixiang Holdings Ltd is an Insurance Brokerage firm. It distributes a wide range of insurance products, which are categorized into two groups; property and casualty insurance, such as commercial property insurance, liability insurance, accidental insurance, and automobile insurance; and other insurances, such as health insurance, life insurance, and miscellaneous insurances. It also generates a small amount of revenue from risk management services. The firm act on behalf of its customers seeking insurance coverage from insurance companies. It generates revenue from the provision of insurance brokerage services.