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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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for United Radiant Technology's Beneish M-Score or its related term are showing as below:
ROCO:5315'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.35 Med: -2.29 Max: -1.21
Current: -2.45
During the past 13 years, the highest Beneish M-Score of United Radiant Technology was -1.21. The lowest was -3.35. And the median was -2.29.
* 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:5315 vs APH, GLW, TEL: Beneish M-Score Comparison
For the Electronic Components subindustry, United Radiant 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.
United Radiant Technology Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, United Radiant Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where United Radiant Technology's Beneish M-Score falls into.
United Radiant 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 United Radiant 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 * 0.8027
+
0.528 * 1.0855
+
0.404 * 1.0038
+
0.892 * 1.121
+
0.115 * 1.0013
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9097
+
4.679 * 0.000733
-
0.327 * 0.874
=
-2.45
* 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))
=
(28.512 / (28.512 + 158.406))
/
(27.137 / (27.137 + 150.999))
=
0.152537
/
0.152339
=
1.0013
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
=
(185.589 - 0
-
184.017)
/
2144.25
=
0.000733
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.
United Radiant Technology has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
United Radiant Technology (ROCO:5315) has a Beneish M-Score of -2.45 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Radiant Technology and its competitors. According to the industry distribution chart, United Radiant Technology ranks #1197 out of 2400 companies in the Hardware industry, placing it in the top 49.9%.
Is United Radiant Technology's Beneish M-Score too high?
United Radiant Technology's current Beneish M-Score is -2.45. Based on the distribution chart, United Radiant Technology ranks #1197 out of 2400 companies in the Hardware industry, which is above the industry midpoint. Overall, United Radiant Technology has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does United Radiant Technology's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, United Radiant Technology ranks #1197 out of 2400 companies for Beneish M-Score. This puts United Radiant 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 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 United Radiant Technology and its competitors. United Radiant Technology's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Radiant Technology stock overvalued right now?
Based on GuruFocus' analysis, United Radiant Technology (ROCO:5315) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$23.98, compared to a current price of NT$19.05 — trading 20.6% below its estimated fair value. The current Beneish M-Score is -2.45. United Radiant Technology's overall GF Score™ is 76/100 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 United Radiant Technology (ROCO:5315), the current Beneish M-Score is -2.45 as of Aug. 14, 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 United Radiant Technology (ROCO:5315) Overvalued in 2026?
Based on GuruFocus' analysis, United Radiant Technology stock appears to be undervalued.
The current stock price of NT$19.05 is trading 20.6% below its estimated GF Value™ of NT$23.98.
GuruFocus considers United Radiant Technology to be Modestly Undervalued.
Key valuation signals for ROCO:5315:
Beneish M-Score: -2.45
GF Value™: NT$23.98 vs. price of NT$19.05 (20.6% below fair value)
No single metric tells the full story. See the ROCO:5315 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Radiant Technology Corp is a Taiwan-based company engaged in manufacturing, processing, and selling all kinds of liquid crystal displays (LCDs) and their modules. The company is also involved in the contracting business of LED street lighting projects. The Revenue of the company is generated from sales of goods is generated from sales of LCD modules and LCD products.
76GF Score
Get the complete analysis for ROCO:5315
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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