TYCMY (Tingyi (Cayman Islands) Holding) Beneish M-Score: -2.89 (As of Jun. 24, 2026)

What is Tingyi (Cayman Islands) Holding Beneish M-Score?

Tingyi (Cayman Islands) Holding TYCMY -2.92% 77 Beneish M-Score is -2.89 as of Jun. 24, 2026. GuruFocus rates TYCMY with a GF Score™ of 77/100 and a GF Value™ of $30.52 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,849 Consumer Packaged Goods companies, Tingyi (Cayman Islands) Holding ranks better than 78.26% 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 -2.89 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Tingyi (Cayman Islands) Holding's Beneish M-Score or its related term are showing as below:

TYCMY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.34 Med: -2.76 Max: -1.96
Current: -2.89

During the past 13 years, the highest Beneish M-Score of Tingyi (Cayman Islands) Holding was -1.96. The lowest was -3.34. And the median was -2.76.

Tingyi (Cayman Islands) Holding Beneish M-Score Related Terms

Tingyi (Cayman Islands) Holding Beneish M-Score Historical Data

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The historical data trend for Tingyi (Cayman Islands) Holding'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.

Tingyi (Cayman Islands) Holding Beneish M-Score Chart

Tingyi (Cayman Islands) Holding Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.43

-2.64

-2.83

-3.01

-2.89

Tingyi (Cayman Islands) Holding 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															-2.83	0.00	-3.01	0.00	-2.89

TYCMY vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Tingyi (Cayman Islands) Holding'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.

Tingyi (Cayman Islands) Holding Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Tingyi (Cayman Islands) Holding's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tingyi (Cayman Islands) Holding's Beneish M-Score falls into.

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77GF Score

Tingyi (Cayman Islands) Holding Corp TYCMY

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Tingyi (Cayman Islands) Holding 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 Tingyi (Cayman Islands) Holding for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9643

0.528 * 0.9506

0.404 * 0.8999

0.892 * 1.0134

0.115 * 0.9489

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0323

4.679 * -0.067364

0.327 * 0.9968

-2.89

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $288 Mil.
Revenue was $11,226 Mil.
Gross Profit was $3,909 Mil.
Total Current Assets was $3,017 Mil.
Total Assets was $7,800 Mil.
Property, Plant and Equipment(Net PPE) was $3,020 Mil.
Depreciation, Depletion and Amortization(DDA) was $515 Mil.
Selling, General, & Admin. Expense(SGA) was $2,999 Mil.
Total Current Liabilities was $4,168 Mil.
Long-Term Debt & Capital Lease Obligation was $836 Mil.
Net Income was $639 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $1,164 Mil.

Total Receivables was $295 Mil.
Revenue was $11,077 Mil.
Gross Profit was $3,667 Mil.
Total Current Assets was $2,470 Mil.
Total Assets was $7,300 Mil.
Property, Plant and Equipment(Net PPE) was $2,996 Mil.
Depreciation, Depletion and Amortization(DDA) was $481 Mil.
Selling, General, & Admin. Expense(SGA) was $2,866 Mil.
Total Current Liabilities was $4,453 Mil.
Long-Term Debt & Capital Lease Obligation was $245 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)
	=	(287.896 / 11226.15)	/	(294.607 / 11077.357)
	=	0.025645	/	0.026595
	=	0.9643

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)
	=	(3666.631 / 11077.357)	/	(3908.977 / 11226.15)
	=	0.331002	/	0.348203
	=	0.9506

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 - (3016.872 + 3020.225) / 7800.399)	/	(1 - (2470.331 + 2995.952) / 7299.965)
	=	0.226053	/	0.251191
	=	0.8999

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
	=	11226.15	/	11077.357
	=	1.0134

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))
	=	(480.971 / (480.971 + 2995.952))	/	(515.434 / (515.434 + 3020.225))
	=	0.138332	/	0.145782
	=	0.9489

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)
	=	(2998.71 / 11226.15)	/	(2866.397 / 11077.357)
	=	0.267118	/	0.258762
	=	1.0323

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)
	=	((835.627 + 4168.216) / 7800.399)	/	((244.655 + 4453.311) / 7299.965)
	=	0.641486	/	0.64356
	=	0.9968

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
	=	(639.013 - 0	-	1164.48)	/	7800.399
	=	-0.067364

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.

Tingyi (Cayman Islands) Holding has a M-score of -2.89 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 -2.89 mean?

Tingyi (Cayman Islands) Holding (TYCMY) has a Beneish M-Score of -2.89 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tingyi (Cayman Islands) Holding and its competitors. According to the industry distribution chart, Tingyi (Cayman Islands) Holding ranks #402 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 21.7%.

Is Tingyi (Cayman Islands) Holding's Beneish M-Score too high?

Tingyi (Cayman Islands) Holding's current Beneish M-Score is -2.89. Based on the distribution chart, Tingyi (Cayman Islands) Holding ranks #402 out of 1849 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Tingyi (Cayman Islands) Holding has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Tingyi (Cayman Islands) Holding's Beneish M-Score compare to KHC and GIS?

According to the Consumer Packaged Goods industry distribution chart, Tingyi (Cayman Islands) Holding ranks #402 out of 1849 companies for Beneish M-Score. This places Tingyi (Cayman Islands) Holding in the top 22% 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 Tingyi (Cayman Islands) Holding and its competitors. Tingyi (Cayman Islands) Holding's current Beneish M-Score is -2.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tingyi (Cayman Islands) Holding stock overvalued right now?

Based on GuruFocus' analysis, Tingyi (Cayman Islands) Holding (TYCMY) is currently considered Modestly Undervalued. The stock's GF Value™ is $30.52, compared to a current price of $24.25 — trading 20.5% below its estimated fair value. The current Beneish M-Score is -2.89. Tingyi (Cayman Islands) Holding's overall GF Score™ is 77/100 with 1 warning sign 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 Tingyi (Cayman Islands) Holding (TYCMY), the current Beneish M-Score is -2.89 as of Jun. 24, 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.

Is Tingyi (Cayman Islands) Holding (TYCMY) Overvalued in 2026?

Based on GuruFocus' analysis, Tingyi (Cayman Islands) Holding stock appears to be undervalued. The current stock price of $24.25 is trading 20.5% below its estimated GF Value™ of $30.52. GuruFocus considers Tingyi (Cayman Islands) Holding to be Modestly Undervalued.

Key valuation signals for TYCMY:

Beneish M-Score: -2.89
GF Value™: $30.52 vs. price of $24.25 (20.5% below fair value)
GF Score™: 77/100 with 1 warning sign

No single metric tells the full story. See the TYCMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tingyi (Cayman Islands) Holding Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies HKSE:02319 HKSE:00151 HKSE:06186 HKSE:00142 HKSE:09985 HKSE:00288 HKSE:01579 HKSE:01112 HKSE:02555 HKSE:01475 XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 SHSE:603288 NSE:NESTLEIND KHC SHSE:600887 SZSE:300999 GIS

Other Exchanges TCYMF:USA 910322:Taiwan 00322:Hong Kong TYG:Germany

Address No. 1688, Wuzhong Road, Building A, Minhang District, Shanghai, CHN, 201103

Website https://www.masterkong.com.cn

Tingyi is a leading producer of instant noodles and ready-to-drink beverages in China, with its Master Kong brand being the most popular. The company commenced its instant noodle business in China since 1992 and expanded into beverages in 1996. In March 2012, Tingyi formed a strategic alliance with PepsiCo and became China's exclusive manufacturer and distributor of Pepsi's nonalcoholic drinks.

77GF Score

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$24.25

Price

$30.52

GF Value

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