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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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Soft-World International's Beneish M-Score or its related term are showing as below:
ROCO:5478'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.92 Med: -2.67 Max: -1.8
Current: -2.59
During the past 13 years, the highest Beneish M-Score of Soft-World International was -1.80. The lowest was -2.92. And the median was -2.67.
Soft-World International Beneish M-Score Related Terms
Soft-World International 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:5478 vs NTES, EA, TTWO: Beneish M-Score Comparison
For the Electronic Gaming & Multimedia subindustry, Soft-World International'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.
Soft-World International Beneish M-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Soft-World International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Soft-World International's Beneish M-Score falls into.
Soft-World International 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 Soft-World International 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 * 1.2983
+
0.528 * 0.9945
+
0.404 * 0.7916
+
0.892 * 0.9622
+
0.115 * 1.012
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9976
+
4.679 * -0.048167
-
0.327 * 1.1121
=
-2.59
* 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))
=
(84.063 / (84.063 + 388.724))
/
(82.212 / (82.212 + 385.707))
=
0.177803
/
0.175697
=
1.012
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
=
(1188.199 - 0
-
2136.293)
/
19683.666
=
-0.048167
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.
Soft-World International has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
Soft-World International (ROCO:5478) has a Beneish M-Score of -2.59 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Soft-World International and its competitors. According to the industry distribution chart, Soft-World International ranks #288 out of 532 companies in the Interactive Media industry, placing it in the top 54.1%.
Is Soft-World International's Beneish M-Score too high?
Soft-World International's current Beneish M-Score is -2.59. Based on the distribution chart, Soft-World International ranks #288 out of 532 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Soft-World International has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Soft-World International's Beneish M-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Soft-World International ranks #288 out of 532 companies for Beneish M-Score. This places Soft-World International 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 an Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 Soft-World International and its competitors. Soft-World International's current Beneish M-Score is -2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Soft-World International stock overvalued right now?
Based on GuruFocus' analysis, Soft-World International (ROCO:5478) is currently considered Fairly Valued. The stock's GF Value™ is NT$101.04, compared to a current price of NT$100.50 — trading 0.5% below its estimated fair value. The current Beneish M-Score is -2.59. Soft-World International's overall GF Score™ is 77/100 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 Soft-World International (ROCO:5478), the current Beneish M-Score is -2.59 as of Jul. 16, 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 Soft-World International (ROCO:5478) Overvalued in 2026?
Based on GuruFocus' analysis, Soft-World International stock appears to be undervalued.
The current stock price of NT$100.50 is trading 0.5% below its estimated GF Value™ of NT$101.04.
GuruFocus considers Soft-World International to be Fairly Valued.
Key valuation signals for ROCO:5478:
Beneish M-Score: -2.59
GF Value™: NT$101.04 vs. price of NT$100.50 (0.5% below fair value)
No single metric tells the full story. See the ROCO:5478 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Soft-World International Corp is engaged in the digital content point service platforms, production and publication of computer game magazines, commercial advertising services and the retail sale of entertainment products and accessories for game software. The Corporation also acts as an agent for games and commercial software. Its segments include Soft-World; Chinese Gamer International Corporation; Game Flier International Corporation; Neweb Technologies; Efun Corporation; and Others. It operates in China, Taiwan and other countries. The company derives maximum revenue from Soft-World International Corporation segment.
77GF Score
Get the complete analysis for ROCO:5478
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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