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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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for ACON Holdings's Beneish M-Score or its related term are showing as below:
ROCO:3710'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.03 Med: -2.83 Max: 101.14
Current: -2.81
During the past 13 years, the highest Beneish M-Score of ACON Holdings was 101.14. The lowest was -3.03. And the median was -2.83.
ACON Holdings Beneish M-Score Related Terms
ACON Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for ACON Holdings'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, ACON Holdings'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.
ACON Holdings Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, ACON Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ACON Holdings'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 ACON Holdings 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 * 1.036
+
0.528 * 1.0903
+
0.404 * 1.0664
+
0.892 * 0.9475
+
0.115 * 1.0353
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1338
+
4.679 * -0.075791
-
0.327 * 1.0583
=
-2.81
* 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))
=
(653.438 / (653.438 + 3105.174))
/
(631.607 / (631.607 + 3129.674))
=
0.173851
/
0.167923
=
1.0353
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
=
(-423.758 - 0
-
175.98)
/
7913.077
=
-0.075791
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.
ACON Holdings has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
ACON Holdings (ROCO:3710) has a Beneish M-Score of -2.81 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ACON Holdings and its competitors. According to the industry distribution chart, ACON Holdings ranks #625 out of 2406 companies in the Hardware industry, placing it in the top 26%.
Is ACON Holdings' Beneish M-Score too high?
ACON Holdings' current Beneish M-Score is -2.81. Based on the distribution chart, ACON Holdings ranks #625 out of 2406 companies in the Hardware industry, which is above the industry midpoint. Overall, ACON Holdings has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ACON Holdings' Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, ACON Holdings ranks #625 out of 2406 companies for Beneish M-Score. This puts ACON Holdings 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 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 ACON Holdings and its competitors. ACON Holdings's current Beneish M-Score is -2.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ACON Holdings stock overvalued right now?
Based on GuruFocus' analysis, ACON Holdings (ROCO:3710) is currently considered Possible Value Trap. The stock's GF Value™ is NT$10.96, compared to a current price of NT$5.64 — trading 48.5% below its estimated fair value. The current Beneish M-Score is -2.81. ACON Holdings' overall GF Score™ is 42/100 with 6 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 ACON Holdings (ROCO:3710), the current Beneish M-Score is -2.81 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 ACON Holdings (ROCO:3710) Overvalued in 2026?
Based on GuruFocus' analysis, ACON Holdings stock appears to be undervalued.
The current stock price of NT$5.64 is trading 48.5% below its estimated GF Value™ of NT$10.96.
GuruFocus considers ACON Holdings to be Possible Value Trap.
Key valuation signals for ROCO:3710:
Beneish M-Score: -2.81
GF Value™: NT$10.96 vs. price of NT$5.64 (48.5% below fair value)
No single metric tells the full story. See the ROCO:3710 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ACON Holdings Inc, along with its subsidiaries, is engaged in the development, manufacture, and sale of electronic components, optical-fiber communication, and wireless communication products. Its product portfolio comprises I/O connectors and 3C peripheral electronic components, including connectors for personal computers and peripherals, and customized cable assemblies, among others. The group's reportable segments are Connector and electronic assembly, Department of Electronics, Optic-fiber communication, Wireless, Battery module assembly, and Others. The majority of its revenue is generated from the Connector and electronic assembly segment. Geographically, the group generates maximum revenue from China, followed by Taiwan, Japan, America, and other regions.
42GF Score
Get the complete analysis for ROCO:3710
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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