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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 -2.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Mycenax Biotech's Beneish M-Score or its related term are showing as below:
ROCO:4726'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.68 Med: -2.37 Max: 0.12
Current: -2.99
During the past 13 years, the highest Beneish M-Score of Mycenax Biotech was 0.12. The lowest was -4.68. And the median was -2.37.
Mycenax Biotech Beneish M-Score Related Terms
Mycenax Biotech Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Mycenax Biotech'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:4726 vs VRTX, REGN, ALNY: Beneish M-Score Comparison
For the Biotechnology subindustry, Mycenax Biotech'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.
Mycenax Biotech Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Mycenax Biotech's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mycenax Biotech'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 Mycenax Biotech 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 * 0.865
+
0.528 * 1.44
+
0.404 * 0.986
+
0.892 * 1.0823
+
0.115 * 1.0048
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9639
+
4.679 * -0.12921
-
0.327 * 1.2765
=
-2.99
* 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))
=
(303.214 / (303.214 + 2307.634))
/
(284.325 / (284.325 + 2175.569))
=
0.116136
/
0.115584
=
1.0048
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
=
(-448.627 - 0
-
-27.241)
/
3261.245
=
-0.12921
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.
Mycenax Biotech has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.
Mycenax Biotech (ROCO:4726) has a Beneish M-Score of -2.99 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mycenax Biotech and its competitors. According to the industry distribution chart, Mycenax Biotech ranks #211 out of 824 companies in the Biotechnology industry, placing it in the top 25.6%.
Is Mycenax Biotech's Beneish M-Score too high?
Mycenax Biotech's current Beneish M-Score is -2.99. Based on the distribution chart, Mycenax Biotech ranks #211 out of 824 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Mycenax Biotech has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mycenax Biotech's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Mycenax Biotech ranks #211 out of 824 companies for Beneish M-Score. This puts Mycenax Biotech 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 Biotechnology company?
A good Beneish M-Score depends on the Biotechnology 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 Mycenax Biotech and its competitors. Mycenax Biotech's current Beneish M-Score is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mycenax Biotech stock overvalued right now?
Based on GuruFocus' analysis, Mycenax Biotech (ROCO:4726) is currently considered Possible Value Trap. The stock's GF Value™ is NT$47.88, compared to a current price of NT$24.50 — trading 48.8% below its estimated fair value. The current Beneish M-Score is -2.99. Mycenax Biotech's overall GF Score™ is 43/100 with 3 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 Mycenax Biotech (ROCO:4726), the current Beneish M-Score is -2.99 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 Mycenax Biotech (ROCO:4726) Overvalued in 2026?
Based on GuruFocus' analysis, Mycenax Biotech stock appears to be undervalued.
The current stock price of NT$24.50 is trading 48.8% below its estimated GF Value™ of NT$47.88.
GuruFocus considers Mycenax Biotech to be Possible Value Trap.
Key valuation signals for ROCO:4726:
Beneish M-Score: -2.99
GF Value™: NT$47.88 vs. price of NT$24.50 (48.8% below fair value)
No single metric tells the full story. See the ROCO:4726 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mycenax Biotech Inc is a Taiwan-based biopharmaceutical company. It is engaged in the development and manufacture of biopharmaceutical products, specializing in mammalian and microbial cell-derived biologics. The company provides services for program evaluation/confirmation, cell line development, and construction, process development technology platforms, drug characterization analysis, the establishment of testing methods, and drug production in accordance with PIC/S GMP manufacturing standards. The company's main operating region is located in Taiwan.
43GF Score
Get the complete analysis for ROCO:4726
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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