Top KingWinWAI 49 Beneish M-Score is -3.48 as of Jun. 26, 2026. GuruFocus rates WAI with a GF Score™ of 49/100 and a GF Value™ of $19.48 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 702 Capital Markets companies, Top KingWin ranks better than 90.17% 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 -3.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Top KingWin's Beneish M-Score or its related term are showing as below:
WAI'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.48 Med: 0.8 Max: 28.55
Current: -3.48
During the past 6 years, the highest Beneish M-Score of Top KingWin was 28.55. The lowest was -3.48. And the median was 0.80.
Top KingWin Beneish M-Score Related Terms
Top KingWin Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Top KingWin'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.
WAI vs PMAX, LMFA, ITEX: Beneish M-Score Comparison
For the Capital Markets subindustry, Top KingWin'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.
Top KingWin Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Top KingWin's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Top KingWin's Beneish M-Score falls into.
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 Top KingWin 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 * 0.3797
+
0.528 * 4.0726
+
0.404 * 1.1313
+
0.892 * 2.1435
+
0.115 * 0.1396
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.5488
+
4.679 * -0.688653
-
0.327 * 0.6357
=
-3.48
* 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.
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.
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))
=
(0.089 / (0.089 + 0.761))
/
(0.084 / (0.084 + 0.028))
=
0.104706
/
0.75
=
0.1396
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
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
=
(-24.021 - 0.223
-
-1.296)
/
33.323
=
-0.688653
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.
Top KingWin has a M-score of -3.48 suggests that the company is unlikely to be a manipulator.
Top KingWin (WAI) has a Beneish M-Score of -3.48 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Top KingWin and its competitors. According to the industry distribution chart, Top KingWin ranks #69 out of 702 companies in the Capital Markets industry, placing it in the top 9.8%.
Is Top KingWin's Beneish M-Score too high?
Top KingWin's current Beneish M-Score is -3.48. Based on the distribution chart, Top KingWin ranks #69 out of 702 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Top KingWin has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Top KingWin's Beneish M-Score compare to PMAX and LMFA?
According to the Capital Markets industry distribution chart, Top KingWin ranks #69 out of 702 companies for Beneish M-Score. This places Top KingWin in the top 10% 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Top KingWin and its competitors. Top KingWin's current Beneish M-Score is -3.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Top KingWin stock overvalued right now?
Based on GuruFocus' analysis, Top KingWin (WAI) is currently considered Possible Value Trap. The stock's GF Value™ is $19.48, compared to a current price of $1.92 — trading 90.1% below its estimated fair value. The current Beneish M-Score is -3.48. Top KingWin's overall GF Score™ is 49/100 with 7 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 Top KingWin (WAI), the current Beneish M-Score is -3.48 as of Jun. 26, 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 Top KingWin (WAI) Overvalued in 2026?
Based on GuruFocus' analysis, Top KingWin stock appears to be undervalued.
The current stock price of $1.92 is trading 90.1% below its estimated GF Value™ of $19.48.
GuruFocus considers Top KingWin to be Possible Value Trap.
Key valuation signals for WAI:
Beneish M-Score: -3.48
GF Value™: $19.48 vs. price of $1.92 (90.1% below fair value)
No single metric tells the full story. See the WAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Top KingWin Ltd is an offshore holding company. The company provides business services mainly to small and medium-sized enterprises, focusing on corporate training related to capital markets, business planning, and fundraising awareness, including guidance on public listing processes and regulatory basics. It also offers corporate consulting, advisory, and transaction services that are customized to clients' fundraising and strategic financial needs, often delivered as bundled or modular solutions. In addition, the company has expanded into selling AI-related devices for data collection and analysis as well as robots with interactive and multi-scenario capabilities, and it has also started limited overseas operations through a subsidiary in the United States.
49GF Score
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