Sunny Optical Technology (Group) Co (MEX:2382N) Beneish M-Score: -2.23 (As of Jun. 25, 2026)


MEX:2382N Sunny Optical Technology (Group) Co Ltd MEX:2382N
89 GF Score
Price MXN109.16
GF Value MXN138.57
! 5 Warning Signs
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What is Sunny Optical Technology (Group) Co Beneish M-Score?

Sunny Optical Technology (Group) Co MEX:2382N 89 Beneish M-Score is -2.23 as of Jun. 25, 2026. GuruFocus rates MEX:2382N with a GF Score™ of 89/100 and a GF Value™ of MXN138.57. The stock has 5 warning signs investors should review. Among 2,403 Hardware companies, Sunny Optical Technology (Group) Co ranks worse than 68.46% 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 -2.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sunny Optical Technology (Group) Co's Beneish M-Score or its related term are showing as below:

MEX:2382N' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18   Med: -2.59   Max: -1.43
Current: -2.23

During the past 13 years, the highest Beneish M-Score of Sunny Optical Technology (Group) Co was -1.43. The lowest was -3.18. And the median was -2.59.

Sunny Optical Technology (Group) Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sunny Optical Technology (Group) Co'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.

Sunny Optical Technology (Group) Co Beneish M-Score Chart

Sunny Optical Technology (Group) Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.78 -3.18 -1.70 -2.51 -2.23

Sunny Optical Technology (Group) Co 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.70 0.00 -2.51 0.00 -2.23

MEX:2382N vs APH, GLW, TEL: Beneish M-Score Comparison

For the Electronic Components subindustry, Sunny Optical Technology (Group) Co'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.

Sunny Optical Technology (Group) Co Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Sunny Optical Technology (Group) Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sunny Optical Technology (Group) Co's Beneish M-Score falls into.


MEX:2382N
89GF Score
Sunny Optical Technology (Group) Co Ltd MEX:2382N
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sunny Optical Technology (Group) Co 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 Sunny Optical Technology (Group) Co 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 * 1.1117+0.528 * 0.9287+0.404 * 1.3009+0.892 * 1.0075+0.115 * 0.8606
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8494+4.679 * -0.024325-0.327 * 0.945
=-2.37

* 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 MXN28,988 Mil.
Revenue was MXN110,514 Mil.
Gross Profit was MXN21,771 Mil.
Total Current Assets was MXN108,300 Mil.
Total Assets was MXN151,380 Mil.
Property, Plant and Equipment(Net PPE) was MXN27,748 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN6,090 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,507 Mil.
Total Current Liabilities was MXN69,138 Mil.
Long-Term Debt & Capital Lease Obligation was MXN3,931 Mil.
Net Income was MXN11,860 Mil.
Gross Profit was MXN0 Mil.
Cash Flow from Operations was MXN15,542 Mil.
 Total Receivables was MXN25,882 Mil.
Revenue was MXN109,695 Mil.
Gross Profit was MXN20,069 Mil.
Total Current Assets was MXN107,334 Mil.
Total Assets was MXN154,132 Mil.
Property, Plant and Equipment(Net PPE) was MXN34,799 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN6,377 Mil.
Selling, General, & Admin. Expense(SGA) was MXN5,267 Mil.
Total Current Liabilities was MXN64,158 Mil.
Long-Term Debt & Capital Lease Obligation was MXN14,571 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)
=(28988.195 / 110513.783) / (25881.604 / 109695.279)
=0.262304 / 0.235941
=1.1117

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)
=(20068.911 / 109695.279) / (21770.577 / 110513.783)
=0.182951 / 0.196994
=0.9287

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 - (108300.182 + 27748.368) / 151380.486) / (1 - (107333.621 + 34798.624) / 154131.887)
=0.101281 / 0.077853
=1.3009

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
=110513.783 / 109695.279
=1.0075

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))
=(6377.215 / (6377.215 + 34798.624)) / (6089.502 / (6089.502 + 27748.368))
=0.154878 / 0.179961
=0.8606

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)
=(4506.799 / 110513.783) / (5266.589 / 109695.279)
=0.04078 / 0.048011
=0.8494

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)
=((3930.906 + 69137.782) / 151380.486) / ((14571.078 + 64158.234) / 154131.887)
=0.482682 / 0.510792
=0.945

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
=(11859.718 - 0 - 15542.031) / 151380.486
=-0.024325

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.

Sunny Optical Technology (Group) Co has a M-score of -2.37 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 -2.23 mean?
Sunny Optical Technology (Group) Co (MEX:2382N) has a Beneish M-Score of -2.23 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sunny Optical Technology (Group) Co and its competitors. According to the industry distribution chart, Sunny Optical Technology (Group) Co ranks #1645 out of 2403 companies in the Hardware industry, placing it in the top 68.5%.
Is Sunny Optical Technology (Group) Co's Beneish M-Score too high?
Sunny Optical Technology (Group) Co's current Beneish M-Score is -2.23. Based on the distribution chart, Sunny Optical Technology (Group) Co ranks #1645 out of 2403 companies in the Hardware industry, which is below the industry midpoint. Overall, Sunny Optical Technology (Group) Co has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does Sunny Optical Technology (Group) Co's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Sunny Optical Technology (Group) Co ranks #1645 out of 2403 companies for Beneish M-Score. This places Sunny Optical Technology (Group) Co 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Sunny Optical Technology (Group) Co and its competitors. Sunny Optical Technology (Group) Co's current Beneish M-Score is -2.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sunny Optical Technology (Group) Co stock overvalued right now?
Sunny Optical Technology (Group) Co (MEX:2382N) has a current Beneish M-Score of -2.23. The stock's GF Value™ is MXN138.57, compared to a current price of MXN109.16 — trading 21.2% below its estimated fair value. The current Beneish M-Score is -2.23. Sunny Optical Technology (Group) Co's overall GF Score™ is 89/100 with 5 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 Sunny Optical Technology (Group) Co (MEX:2382N), the current Beneish M-Score is -2.23 as of Jun. 25, 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 Sunny Optical Technology (Group) Co (MEX:2382N) Overvalued in 2026?

Based on GuruFocus' analysis, Sunny Optical Technology (Group) Co stock appears to be undervalued. The current stock price of MXN109.16 is trading 21.2% below its estimated GF Value™ of MXN138.57.

Key valuation signals for MEX:2382N:

  • Beneish M-Score: -2.23
  • GF Value™: MXN138.57 vs. price of MXN109.16 (21.2% below fair value)
  • GF Score™: 89/100 with 5 warning signs

No single metric tells the full story. See the MEX:2382N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sunny Optical Technology (Group) Co Business Description

Address No. 66-68, Fengle Road, Zhejiang Province, Yuyao, CHN, 315400
Headquartered in Yuyao, China, Sunny Optical is one of China's biggest handset camera module makers and the world's largest handset lens sets manufacturer. Higher-margin lens sets are used in smartphones, vehicles, and extended reality. Sunny Optical is a key beneficiary of the secular growth of extended-reality devices and vehicle camera demand, as advanced driver-assistance systems witness rising adoption among automakers. The firm also manufactures optical instruments, such as high-end microscopes and optical measuring instruments. The company employed over 34,393 people as of Dec. 31, 2025.
89GF Score

Get the complete analysis for MEX:2382N

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN109.16
Price
MXN138.57
GF Value