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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 -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for BenQ Medical Technology's Beneish M-Score or its related term are showing as below:
ROCO:4116'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.84 Med: -2.64 Max: -0.65
Current: -2.75
During the past 13 years, the highest Beneish M-Score of BenQ Medical Technology was -0.65. The lowest was -2.84. And the median was -2.64.
BenQ Medical Technology Beneish M-Score Related Terms
BenQ Medical Technology Beneish M-Score Historical Data
* 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:4116 vs ISRG, BDX, MDLN: Beneish M-Score Comparison
For the Medical Instruments & Supplies subindustry, BenQ Medical 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.
BenQ Medical Technology Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, BenQ Medical Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BenQ Medical Technology's Beneish M-Score falls into.
BenQ Medical Technology 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 BenQ Medical 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 * 0.9676
+
0.528 * 0.9448
+
0.404 * 1.0001
+
0.892 * 1.1021
+
0.115 * 0.6584
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1011
+
4.679 * -0.051477
-
0.327 * 1.0064
=
-2.75
* 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))
=
(255.214 / (255.214 + 1174.776))
/
(269.129 / (269.129 + 723.633))
=
0.178473
/
0.271091
=
0.6584
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
=
(78.172 - 0
-
358.753)
/
5450.611
=
-0.051477
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.
BenQ Medical Technology has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
BenQ Medical Technology (ROCO:4116) has a Beneish M-Score of -2.75 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BenQ Medical Technology and its competitors. According to the industry distribution chart, BenQ Medical Technology ranks #267 out of 763 companies in the Medical Devices & Instruments industry, placing it in the top 35%.
Is BenQ Medical Technology's Beneish M-Score too high?
BenQ Medical Technology's current Beneish M-Score is -2.75. Based on the distribution chart, BenQ Medical Technology ranks #267 out of 763 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, BenQ Medical Technology has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BenQ Medical Technology's Beneish M-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, BenQ Medical Technology ranks #267 out of 763 companies for Beneish M-Score. This puts BenQ Medical Technology 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 BenQ Medical Technology and its competitors. BenQ Medical Technology's current Beneish M-Score is -2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BenQ Medical Technology stock overvalued right now?
Based on GuruFocus' analysis, BenQ Medical Technology (ROCO:4116) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$62.38, compared to a current price of NT$38.20 — trading 38.8% below its estimated fair value. The current Beneish M-Score is -2.75. BenQ Medical Technology's overall GF Score™ is 81/100 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 BenQ Medical Technology (ROCO:4116), the current Beneish M-Score is -2.75 as of Jul. 17, 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 BenQ Medical Technology (ROCO:4116) Overvalued in 2026?
Based on GuruFocus' analysis, BenQ Medical Technology stock appears to be undervalued.
The current stock price of NT$38.20 is trading 38.8% below its estimated GF Value™ of NT$62.38.
GuruFocus considers BenQ Medical Technology to be Significantly Undervalued.
Key valuation signals for ROCO:4116:
Beneish M-Score: -2.75
GF Value™: NT$62.38 vs. price of NT$38.20 (38.8% below fair value)
No single metric tells the full story. See the ROCO:4116 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BenQ Medical Technology Corp is engaged in the manufacturing, assembly, maintenance, repair, and sales of professional medical equipment and consumables. Its products include surgical and gynecology tables, digital OR solutions, halogen and LED surgical lights, and medical imaging products, among others. The company's segment includes the R&D and Manufacturing Division and the Medical Services Division. The company generates the majority of its revenue from the Medical Services Division. Geographically, the company generates revenue from Taiwan, Mainland China, Indonesia, Thai, India, Colombia, and Others.
81GF Score
Get the complete analysis for ROCO:4116
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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