Evergreen Marine (Taiwan)LSE:EGMA 92 Beneish M-Score is -2.45 as of Jun. 27, 2026. GuruFocus rates LSE:EGMA with a GF Score™ of 92/100. The stock has 8 warning signs investors should review. Among 966 Transportation companies, Evergreen Marine (Taiwan) ranks worse than 61.7% 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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Evergreen Marine (Taiwan)'s Beneish M-Score or its related term are showing as below:
LSE:EGMA'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.29 Med: -2.66 Max: -0.51
Current: -2.45
During the past 13 years, the highest Beneish M-Score of Evergreen Marine (Taiwan) was -0.51. The lowest was -3.29. And the median was -2.66.
Evergreen Marine (Taiwan) Beneish M-Score Related Terms
Evergreen Marine (Taiwan) Beneish M-Score Historical Data
* 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.
For the Marine Shipping subindustry, Evergreen Marine (Taiwan)'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.
Evergreen Marine (Taiwan) Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Evergreen Marine (Taiwan)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Evergreen Marine (Taiwan)'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 Evergreen Marine (Taiwan) 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 * 1.0046
+
0.528 * 1.5485
+
0.404 * 1.1595
+
0.892 * 0.815
+
0.115 * 0.9839
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1537
+
4.679 * -0.036519
-
0.327 * 1.0358
=
-2.50
* 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))
=
(953.759 / (953.759 + 11386.074))
/
(1036.658 / (1036.658 + 12160.056))
=
0.077291
/
0.078554
=
0.9839
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
=
(1647.543 - 0
-
2425.698)
/
21308.361
=
-0.036519
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.
Evergreen Marine (Taiwan) has a M-score of -2.50 suggests that the company is unlikely to be a manipulator.
Evergreen Marine (Taiwan) (LSE:EGMA) has a Beneish M-Score of -2.45 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Evergreen Marine (Taiwan) and its competitors. According to the industry distribution chart, Evergreen Marine (Taiwan) ranks #596 out of 966 companies in the Transportation industry, placing it in the top 61.7%.
Is Evergreen Marine (Taiwan)'s Beneish M-Score too high?
Evergreen Marine (Taiwan)'s current Beneish M-Score is -2.45. Based on the distribution chart, Evergreen Marine (Taiwan) ranks #596 out of 966 companies in the Transportation industry, which is below the industry midpoint. Overall, Evergreen Marine (Taiwan) has a GF Score™ of 92/100, reflecting its overall financial health beyond just this single metric.
How does Evergreen Marine (Taiwan)'s Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, Evergreen Marine (Taiwan) ranks #596 out of 966 companies for Beneish M-Score. This places Evergreen Marine (Taiwan) 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Evergreen Marine (Taiwan) and its competitors. Evergreen Marine (Taiwan)'s current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Evergreen Marine (Taiwan) stock overvalued right now?
Evergreen Marine (Taiwan) (LSE:EGMA) has a current Beneish M-Score of -2.45. The current Beneish M-Score is -2.45. Evergreen Marine (Taiwan)'s overall GF Score™ is 92/100 with 8 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 Evergreen Marine (Taiwan) (LSE:EGMA), the current Beneish M-Score is -2.45 as of Jun. 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.
Evergreen Marine Corp (Taiwan) Ltd is mainly engaged in domestic and international marine transportation, shipping agency services, commercial port area ship repair services, and the distribution of containers. Along with its subsidiaries, it operates in the following reportable segments: Transportation Department, which derives maximum revenue, and Other Departments. Geographically, the group generates maximum revenue from Asia (excluding Taiwan), followed by Taiwan, America, Europe, and other regions.
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