Sinew Pharma (ROCO:6634) Beneish M-Score: 0.00 (As of Aug. 24, 2026)

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ROCO:6634 Sinew Pharma Inc ROCO:6634
25 GF Score
Price NT$60.10
! 2 Warning Signs
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What is Sinew Pharma Beneish M-Score?

Sinew Pharma ROCO:6634 +0.17% 25 Beneish M-Score is 0.00 as of Aug. 24, 2026. GuruFocus rates ROCO:6634 with a GF Score™ of 25/100. The stock has 2 warning signs investors should review. Among 829 Biotechnology companies, Sinew Pharma ranks worse than 120627.14% on this metric.

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.

The historical rank and industry rank for Sinew Pharma's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Sinew Pharma was 40.52. The lowest was 7.83. And the median was 24.18.


Sinew Pharma Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sinew Pharma'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.

Sinew Pharma Beneish M-Score Chart

Sinew Pharma Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.83 40.52 0.00 0.00 0.00

Sinew Pharma Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

ROCO:6634 vs VRTX, REGN, RVMD: Beneish M-Score Comparison

For the Biotechnology subindustry, Sinew Pharma'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.


Sinew Pharma Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Sinew Pharma's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sinew Pharma's Beneish M-Score falls into.


ROCO:6634
25GF Score
Sinew Pharma Inc ROCO:6634
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sinew Pharma 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 Sinew Pharma 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was NT$2.77 Mil.
Revenue was NT$0.05 Mil.
Gross Profit was NT$0.04 Mil.
Total Current Assets was NT$1,077.42 Mil.
Total Assets was NT$1,127.59 Mil.
Property, Plant and Equipment(Net PPE) was NT$17.05 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$19.33 Mil.
Selling, General, & Admin. Expense(SGA) was NT$42.69 Mil.
Total Current Liabilities was NT$25.49 Mil.
Long-Term Debt & Capital Lease Obligation was NT$9.23 Mil.
Net Income was NT$-123.75 Mil.
Gross Profit was NT$0.00 Mil.
Cash Flow from Operations was NT$-95.30 Mil.
Total Receivables was NT$1.74 Mil.
Revenue was NT$0.00 Mil.
Gross Profit was NT$0.00 Mil.
Total Current Assets was NT$1,181.29 Mil.
Total Assets was NT$1,226.14 Mil.
Property, Plant and Equipment(Net PPE) was NT$7.12 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$30.31 Mil.
Selling, General, & Admin. Expense(SGA) was NT$36.95 Mil.
Total Current Liabilities was NT$27.18 Mil.
Long-Term Debt & Capital Lease Obligation was NT$0.00 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2.77 / 0.047) / (1.74 / 0)
=58.93617 /
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(0 / 0) / (0.037 / 0.047)
= / 0.787234
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1077.416 + 17.046) / 1127.588) / (1 - (1181.293 + 7.12) / 1226.142)
=0.029378 / 0.03077
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=0.047 / 0
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(30.307 / (30.307 + 7.12)) / (19.331 / (19.331 + 17.046))
=0.809763 / 0.531407
=

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(42.689 / 0.047) / (36.952 / 0)
=908.276596 /
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((9.234 + 25.486) / 1127.588) / ((0 + 27.18) / 1226.142)
=0.030791 / 0.022167
=

8. TATA = Total Accruals to Total Assets

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
=(-123.745 - 0 - -95.299) / 1127.588
=-0.025227

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Sinew Pharma (ROCO:6634) has a Beneish M-Score of 0.00 as of Aug. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sinew Pharma and its competitors. Over the past decade, Sinew Pharma's Beneish M-Score has ranged from 7.83 to 40.52. According to the industry distribution chart, Sinew Pharma ranks #999999 out of 829 companies in the Biotechnology industry.
Is Sinew Pharma's Beneish M-Score too high?
Sinew Pharma's current Beneish M-Score is 0.00. Over the past 10 years, this metric has ranged from a low of 7.83 to a high of 40.52. Based on the distribution chart, Sinew Pharma ranks #999999 out of 829 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Sinew Pharma has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does Sinew Pharma's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Sinew Pharma ranks #999999 out of 829 companies for Beneish M-Score. This places Sinew Pharma in the lower half of its industry. Historically, Sinew Pharma's own Beneish M-Score has ranged from 7.83 to 40.52 over the past decade. 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 Sinew Pharma and its competitors. Sinew Pharma's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sinew Pharma stock overvalued right now?
Sinew Pharma (ROCO:6634) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Sinew Pharma's overall GF Score™ is 25/100 with 2 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 Sinew Pharma (ROCO:6634), the current Beneish M-Score is 0.00 as of Aug. 24, 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.

Sinew Pharma Business Description

Address Xueyin Road, Lane 130, Section 1, C516, Building C, Number 99, Nangang District, Taipei, TWN, 11571
Sinew Pharma Inc is a Taiwan-based biopharmaceutical company. The company is mainly engaged in the research and development of new drugs for the treatment of liver diseases and pain relief. Its drug candidates includes SNP-610, SNP-630, SNP-810, SNP-820, SNP-830 and SNP-840.
25GF Score

Get the complete analysis for ROCO:6634

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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