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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 -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Rafael Microelectronics's Beneish M-Score or its related term are showing as below:
ROCO:6568'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.41 Med: -2.43 Max: -0.37
Current: -2.71
During the past 12 years, the highest Beneish M-Score of Rafael Microelectronics was -0.37. The lowest was -3.41. And the median was -2.43.
* 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:6568 vs NVDA, AVGO, MU: Beneish M-Score Comparison
For the Semiconductors subindustry, Rafael Microelectronics'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.
Rafael Microelectronics Beneish M-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Rafael Microelectronics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rafael Microelectronics's Beneish M-Score falls into.
Rafael Microelectronics 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 Rafael Microelectronics 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 * 1.0686
+
0.528 * 0.9767
+
0.404 * 1.4967
+
0.892 * 1.1029
+
0.115 * 1.066
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9133
+
4.679 * -0.099913
-
0.327 * 1.3871
=
-2.71
* 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))
=
(42.2 / (42.2 + 291.451))
/
(38.937 / (38.937 + 289.239))
=
0.126479
/
0.118647
=
1.066
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
=
(154.222 - 0
-
338.383)
/
1843.21
=
-0.099913
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.
Rafael Microelectronics has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
Rafael Microelectronics (ROCO:6568) has a Beneish M-Score of -2.71 as of Aug. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rafael Microelectronics and its competitors. According to the industry distribution chart, Rafael Microelectronics ranks #261 out of 991 companies in the Semiconductors industry, placing it in the top 26.3%.
Is Rafael Microelectronics' Beneish M-Score too high?
Rafael Microelectronics' current Beneish M-Score is -2.71. Based on the distribution chart, Rafael Microelectronics ranks #261 out of 991 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Rafael Microelectronics has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Rafael Microelectronics' Beneish M-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Rafael Microelectronics ranks #261 out of 991 companies for Beneish M-Score. This puts Rafael Microelectronics 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 Rafael Microelectronics and its competitors. Rafael Microelectronics's current Beneish M-Score is -2.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rafael Microelectronics stock overvalued right now?
Based on GuruFocus' analysis, Rafael Microelectronics (ROCO:6568) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$154.16, compared to a current price of NT$131.00 — trading 15% below its estimated fair value. The current Beneish M-Score is -2.71. Rafael Microelectronics' overall GF Score™ is 82/100 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 Rafael Microelectronics (ROCO:6568), the current Beneish M-Score is -2.71 as of Aug. 29, 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 Rafael Microelectronics (ROCO:6568) Overvalued in 2026?
Based on GuruFocus' analysis, Rafael Microelectronics stock appears to be undervalued.
The current stock price of NT$131.00 is trading 15% below its estimated GF Value™ of NT$154.16.
GuruFocus considers Rafael Microelectronics to be Modestly Undervalued.
Key valuation signals for ROCO:6568:
Beneish M-Score: -2.71
GF Value™: NT$154.16 vs. price of NT$131.00 (15% below fair value)
No single metric tells the full story. See the ROCO:6568 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rafael Microelectronics Inc engaged in the research and development, design, manufacturing, and marketing of radio frequency integrated circuits (RF ICs), RF integrated systems, and related products. Its products include IOT connectivity, optical networking, satellite communication, STB receivers, and TV receivers. The company's geographical segments include Taiwan, China, Europe and America, and Other parts of Asia.
82GF Score
Get the complete analysis for ROCO:6568
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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