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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 -2.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Simula Technology's Beneish M-Score or its related term are showing as below:
ROCO:3511'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.98 Med: -2.76 Max: 5.83
Current: -2.26
During the past 13 years, the highest Beneish M-Score of Simula Technology was 5.83. The lowest was -3.98. And the median was -2.76.
Simula Technology Beneish M-Score Related Terms
Simula Technology Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Simula Technology'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.
For the Electronic Components subindustry, Simula Technology'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.
Simula Technology Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Simula Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Simula Technology'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 Simula Technology 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 * 1.2102
+
0.528 * 0.9791
+
0.404 * 1.3449
+
0.892 * 0.9358
+
0.115 * 1.0061
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0639
+
4.679 * 6.8E-5
-
0.327 * 1.1012
=
-2.26
* 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))
=
(146.781 / (146.781 + 792.521))
/
(141.64 / (141.64 + 770.334))
=
0.156266
/
0.155311
=
1.0061
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
=
(-82.418 - 0
-
-82.585)
/
2473.172
=
6.8E-5
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.
Simula Technology has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
Simula Technology (ROCO:3511) has a Beneish M-Score of -2.26 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Simula Technology and its competitors. According to the industry distribution chart, Simula Technology ranks #1595 out of 2406 companies in the Hardware industry, placing it in the top 66.3%.
Is Simula Technology's Beneish M-Score too high?
Simula Technology's current Beneish M-Score is -2.26. Based on the distribution chart, Simula Technology ranks #1595 out of 2406 companies in the Hardware industry, which is below the industry midpoint. Overall, Simula Technology has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Simula Technology's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Simula Technology ranks #1595 out of 2406 companies for Beneish M-Score. This places Simula Technology 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 Simula Technology and its competitors. Simula Technology's current Beneish M-Score is -2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Simula Technology stock overvalued right now?
Based on GuruFocus' analysis, Simula Technology (ROCO:3511) is currently considered Fairly Valued. The stock's GF Value™ is NT$19.55, compared to a current price of NT$20.45 — trading 4.6% above its estimated fair value. The current Beneish M-Score is -2.26. Simula Technology's overall GF Score™ is 60/100 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 Simula Technology (ROCO:3511), the current Beneish M-Score is -2.26 as of Jul. 18, 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 Simula Technology (ROCO:3511) Overvalued in 2026?
Based on GuruFocus' analysis, Simula Technology stock appears to be overvalued.
The current stock price of NT$20.45 is trading 4.6% above its estimated GF Value™ of NT$19.55.
GuruFocus considers Simula Technology to be Fairly Valued.
Key valuation signals for ROCO:3511:
Beneish M-Score: -2.26
GF Value™: NT$19.55 vs. price of NT$20.45 (4.6% above fair value)
No single metric tells the full story. See the ROCO:3511 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Simula Technology Inc is engaged in the manufacture of electronic products, wholesale and product designing, and international trading. Its products include Connectors, Cable Assembly, Accessories, and Customized Solutions. The main sales of the Company come from sales of connectors (wires) and other electronic products. The Company is aggregated into a single segment. Geographically, the company generates a majority of its revenue from the United States of America, Taiwan, Thailand, China, and other countries.
60GF Score
Get the complete analysis for ROCO:3511
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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