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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 -2.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Medigen Biotechnology's Beneish M-Score or its related term are showing as below:
ROCO:3176'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.14 Med: -2.24 Max: 1.46
Current: -2.64
During the past 13 years, the highest Beneish M-Score of Medigen Biotechnology was 1.46. The lowest was -3.14. And the median was -2.24.
Medigen Biotechnology Beneish M-Score Related Terms
Medigen Biotechnology Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Medigen Biotechnology'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.
ROCO:3176 vs VRTX, REGN, ALNY: Beneish M-Score Comparison
For the Biotechnology subindustry, Medigen Biotechnology'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.
Medigen Biotechnology Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Medigen Biotechnology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Medigen Biotechnology'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 Medigen Biotechnology 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 * 0.8495
+
0.528 * 0.9602
+
0.404 * 0.8404
+
0.892 * 1.1528
+
0.115 * 0.9452
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8476
+
4.679 * -0.024163
-
0.327 * 0.9505
=
-2.64
* 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))
=
(175.241 / (175.241 + 1981.304))
/
(175.636 / (175.636 + 1867.243))
=
0.08126
/
0.085975
=
0.9452
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
=
(-108.803 - 0
-
40.545)
/
6180.925
=
-0.024163
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.
Medigen Biotechnology has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
Medigen Biotechnology (ROCO:3176) has a Beneish M-Score of -2.64 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Medigen Biotechnology and its competitors. According to the industry distribution chart, Medigen Biotechnology ranks #313 out of 824 companies in the Biotechnology industry, placing it in the top 38%.
Is Medigen Biotechnology's Beneish M-Score too high?
Medigen Biotechnology's current Beneish M-Score is -2.64. Based on the distribution chart, Medigen Biotechnology ranks #313 out of 824 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Medigen Biotechnology has a GF Score™ of 58/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Medigen Biotechnology's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Medigen Biotechnology ranks #313 out of 824 companies for Beneish M-Score. This puts Medigen Biotechnology in the upper 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 Biotechnology company?
A good Beneish M-Score depends on the Biotechnology 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 Medigen Biotechnology and its competitors. Medigen Biotechnology's current Beneish M-Score is -2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medigen Biotechnology stock overvalued right now?
Based on GuruFocus' analysis, Medigen Biotechnology (ROCO:3176) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$49.63, compared to a current price of NT$34.60 — trading 30.3% below its estimated fair value. The current Beneish M-Score is -2.64. Medigen Biotechnology's overall GF Score™ is 58/100 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 Medigen Biotechnology (ROCO:3176), the current Beneish M-Score is -2.64 as of Jul. 15, 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 Medigen Biotechnology (ROCO:3176) Overvalued in 2026?
Based on GuruFocus' analysis, Medigen Biotechnology stock appears to be undervalued.
The current stock price of NT$34.60 is trading 30.3% below its estimated GF Value™ of NT$49.63.
GuruFocus considers Medigen Biotechnology to be Significantly Undervalued.
Key valuation signals for ROCO:3176:
Beneish M-Score: -2.64
GF Value™: NT$49.63 vs. price of NT$34.60 (30.3% below fair value)
No single metric tells the full story. See the ROCO:3176 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Medigen Biotechnology Corp is engaged in the research and development of new drugs and vaccines, cytotherapy, nucleic acid testing, and the production and sales of generic drugs, aesthetic medicine products and vaccine-related products. Its segments are the Nucleic acid department, the New drug and vaccine research and development segment, the Cytotherapy department, and the Generic drug, aesthetic medicine product and dietary supplement segment: responsible for production and sales and relevant services of western medicine, aesthetic medicine product, and dietary supplement. The majority of revenue is derived from generic drugs, aesthetic medicine products, and the dietary supplement segment. Geographically, it operates in Taiwan, China, and Other countries with revenue from Taiwan.
58GF Score
Get the complete analysis for ROCO:3176
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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