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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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for FineTek Co's Beneish M-Score or its related term are showing as below:
ROCO:4549'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.94 Med: -2.49 Max: -1.89
Current: -2.33
During the past 13 years, the highest Beneish M-Score of FineTek Co was -1.89. The lowest was -2.94. And the median was -2.49.
The historical data trend for FineTek Co'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:4549 vs COHR, KEYS, GRMN: Beneish M-Score Comparison
For the Scientific & Technical Instruments subindustry, FineTek Co'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.
FineTek Co Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, FineTek Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where FineTek Co'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 FineTek Co 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 * 1.1687
+
0.528 * 0.9577
+
0.404 * 0.9173
+
0.892 * 0.9382
+
0.115 * 0.9018
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1108
+
4.679 * 0.022565
-
0.327 * 0.9087
=
-2.33
* 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))
=
(55.295 / (55.295 + 730.022))
/
(61.001 / (61.001 + 720.27))
=
0.070411
/
0.078079
=
0.9018
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
=
(232.016 - 0
-
168.051)
/
2834.662
=
0.022565
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.
FineTek Co has a M-score of -2.33 suggests that the company is unlikely to be a manipulator.
FineTek Co (ROCO:4549) has a Beneish M-Score of -2.33 as of Aug. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FineTek Co and its competitors. According to the industry distribution chart, FineTek Co ranks #1293 out of 2407 companies in the Hardware industry, placing it in the top 53.7%.
Is FineTek Co's Beneish M-Score too high?
FineTek Co's current Beneish M-Score is -2.33. Based on the distribution chart, FineTek Co ranks #1293 out of 2407 companies in the Hardware industry, which is below the industry midpoint. Overall, FineTek Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does FineTek Co's Beneish M-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, FineTek Co ranks #1293 out of 2407 companies for Beneish M-Score. This places FineTek Co 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 FineTek Co and its competitors. FineTek Co's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FineTek Co stock overvalued right now?
Based on GuruFocus' analysis, FineTek Co (ROCO:4549) is currently considered Fairly Valued. The stock's GF Value™ is NT$104.42, compared to a current price of NT$101.00 — trading 3.3% below its estimated fair value. The current Beneish M-Score is -2.33. FineTek Co's overall GF Score™ is 77/100 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 FineTek Co (ROCO:4549), the current Beneish M-Score is -2.33 as of Aug. 28, 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 FineTek Co (ROCO:4549) Overvalued in 2026?
Based on GuruFocus' analysis, FineTek Co stock appears to be undervalued.
The current stock price of NT$101.00 is trading 3.3% below its estimated GF Value™ of NT$104.42.
GuruFocus considers FineTek Co to be Fairly Valued.
Key valuation signals for ROCO:4549:
Beneish M-Score: -2.33
GF Value™: NT$104.42 vs. price of NT$101.00 (3.3% below fair value)
No single metric tells the full story. See the ROCO:4549 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FineTek Co Ltd manufactures, designs, and sells transmitters, point switches, and electronic terminals. Its products include point switches, level transmitters, flow measurements, grain monitoring systems, safety instruments, and digital meters among others. The company supplies industrial sensors as well as solutions for Process Automation, Flow Metering, Wireless Communication Technology, and Tank Gauging systems. It derives revenue from Process automated sensor development, Pneumatic control system, and Others. It operates in four principal geographical areas, China, Taiwan, USA and Germany, of which Taiwan derives the maximum revenue.
77GF Score
Get the complete analysis for ROCO:4549
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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