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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.
Warning Sign:
Beneish M-Score -1.52 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Shih Her Technologies's Beneish M-Score or its related term are showing as below:
ROCO:3551'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.2 Med: -2.69 Max: -1.37
Current: -1.52
During the past 13 years, the highest Beneish M-Score of Shih Her Technologies was -1.37. The lowest was -3.20. And the median was -2.69.
Shih Her Technologies Beneish M-Score Related Terms
Shih Her Technologies Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Shih Her Technologies'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:3551 vs LRCX, AMAT, KLAC: Beneish M-Score Comparison
For the Semiconductor Equipment & Materials subindustry, Shih Her Technologies'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.
Shih Her Technologies Beneish M-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Shih Her Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shih Her Technologies'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 Shih Her Technologies 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 * 1.1186
+
0.528 * 1.0033
+
0.404 * 1.0225
+
0.892 * 1.1998
+
0.115 * 1.009
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9271
+
4.679 * 0.132994
-
0.327 * 0.9101
=
-1.52
* 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))
=
(295.769 / (295.769 + 2641.128))
/
(297.061 / (297.061 + 2679.236))
=
0.100708
/
0.099809
=
1.009
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
=
(585.027 - 0
-
-283.569)
/
6531.084
=
0.132994
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.
Shih Her Technologies has a M-score of -1.52 signals that the company is likely to be a manipulator.
Shih Her Technologies (ROCO:3551) has a Beneish M-Score of -1.52 as of Sep. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shih Her Technologies and its competitors. According to the industry distribution chart, Shih Her Technologies ranks #810 out of 1000 companies in the Semiconductors industry, placing it in the top 81%.
Is Shih Her Technologies' Beneish M-Score too high?
Shih Her Technologies' current Beneish M-Score is -1.52. Based on the distribution chart, Shih Her Technologies ranks #810 out of 1000 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Shih Her Technologies has a GF Score™ of 89/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shih Her Technologies' Beneish M-Score compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Shih Her Technologies ranks #810 out of 1000 companies for Beneish M-Score. This places Shih Her Technologies 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 Shih Her Technologies and its competitors. Shih Her Technologies's current Beneish M-Score is -1.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shih Her Technologies stock overvalued right now?
Based on GuruFocus' analysis, Shih Her Technologies (ROCO:3551) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$151.02, compared to a current price of NT$182.00 — trading 20.5% above its estimated fair value. The current Beneish M-Score is -1.52. Shih Her Technologies' overall GF Score™ is 89/100 with 2 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 Shih Her Technologies (ROCO:3551), the current Beneish M-Score is -1.52 as of Sep. 05, 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 Shih Her Technologies (ROCO:3551) Overvalued in 2026?
Based on GuruFocus' analysis, Shih Her Technologies stock appears to be overvalued.
The current stock price of NT$182.00 is trading 20.5% above its estimated GF Value™ of NT$151.02.
GuruFocus considers Shih Her Technologies to be Modestly Overvalued.
Key valuation signals for ROCO:3551:
Beneish M-Score: -1.52
GF Value™: NT$151.02 vs. price of NT$182.00 (20.5% above fair value)
No single metric tells the full story. See the ROCO:3551 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shih Her Technologies Inc is a Taiwan-based company that regeneration cleaning, repair, sales, purchase, research & development, manufacturing, processing, and assembly of semiconductors, optoelectronic equipment and components. Geographically, the company operates in Taiwan; and China, of which it derives maximum revenue from Taiwan.
89GF Score
Get the complete analysis for ROCO:3551
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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