Acmepoint Energy Services Co (ROCO:6692) Beneish M-Score: -3.21 (As of Jul. 18, 2026)

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ROCO:6692 Acmepoint Energy Services Co ROCO:6692
69 GF Score
Price NT$22.75
GF Value NT$17.57
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Acmepoint Energy Services Co Beneish M-Score?

Acmepoint Energy Services Co ROCO:6692 -8.45% 69 Beneish M-Score is -3.21 as of Jul. 18, 2026. GuruFocus rates ROCO:6692 with a GF Score™ of 69/100 and a GF Value™ of NT$17.57 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 987 Semiconductors companies, Acmepoint Energy Services Co ranks better than 87.44% 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.

Good Sign:

Beneish M-Score -3.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Acmepoint Energy Services Co's Beneish M-Score or its related term are showing as below:

ROCO:6692' s Beneish M-Score Range Over the Past 10 Years
Min: -3.31   Med: -3.21   Max: -1.97
Current: -3.21

During the past 11 years, the highest Beneish M-Score of Acmepoint Energy Services Co was -1.97. The lowest was -3.31. And the median was -3.21.


Acmepoint Energy Services Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Acmepoint Energy Services Co'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.

Acmepoint Energy Services Co Beneish M-Score Chart

Acmepoint Energy Services Co 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 0.00 0.00 -1.97 -3.31 -3.21

Acmepoint Energy Services Co Quarterly Data
Jun20 Dec20 Jun21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 -3.31 -1.93 -1.66 -3.10 -3.21

ROCO:6692 vs FSLR, NXT, ENPH: Beneish M-Score Comparison

For the Solar subindustry, Acmepoint Energy Services Co'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.


Acmepoint Energy Services Co Beneish M-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Acmepoint Energy Services Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Acmepoint Energy Services Co's Beneish M-Score falls into.


ROCO:6692
69GF Score
Acmepoint Energy Services Co ROCO:6692
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Acmepoint Energy Services Co 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 Acmepoint Energy Services Co 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 * 0.668+0.528 * 0.8003+0.404 * 1.1846+0.892 * 0.6537+0.115 * 2.0125
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3083+4.679 * -0.043745-0.327 * 0.8166
=-3.21

* 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$388 Mil.
Revenue was 209.713 + 233.572 + 257.72 + 762.255 = NT$1,463 Mil.
Gross Profit was 4.167 + 39.56 + 54.934 + 103.354 = NT$202 Mil.
Total Current Assets was NT$1,599 Mil.
Total Assets was NT$1,938 Mil.
Property, Plant and Equipment(Net PPE) was NT$163 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$17 Mil.
Selling, General, & Admin. Expense(SGA) was NT$181 Mil.
Total Current Liabilities was NT$820 Mil.
Long-Term Debt & Capital Lease Obligation was NT$11 Mil.
Net Income was -12.258 + -20.089 + 6.577 + 39.158 = NT$13 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was 240.004 + 152.24 + -11.411 + -282.675 = NT$98 Mil.
Total Receivables was NT$889 Mil.
Revenue was 1096.438 + 558.88 + 319.895 + 263.239 = NT$2,238 Mil.
Gross Profit was 125.866 + 52.57 + 40.491 + 28.396 = NT$247 Mil.
Total Current Assets was NT$2,068 Mil.
Total Assets was NT$2,365 Mil.
Property, Plant and Equipment(Net PPE) was NT$115 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$27 Mil.
Selling, General, & Admin. Expense(SGA) was NT$212 Mil.
Total Current Liabilities was NT$1,238 Mil.
Long-Term Debt & Capital Lease Obligation was NT$4 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)
=(388.002 / 1463.26) / (888.621 / 2238.452)
=0.265163 / 0.39698
=0.668

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)
=(247.323 / 2238.452) / (202.015 / 1463.26)
=0.110488 / 0.138058
=0.8003

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 - (1598.792 + 162.877) / 1937.838) / (1 - (2067.794 + 115.498) / 2364.778)
=0.09091 / 0.076745
=1.1846

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
=1463.26 / 2238.452
=0.6537

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))
=(27.017 / (27.017 + 115.498)) / (16.938 / (16.938 + 162.877))
=0.189573 / 0.094197
=2.0125

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)
=(181.34 / 1463.26) / (212.04 / 2238.452)
=0.123929 / 0.094726
=1.3083

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)
=((10.947 + 820.238) / 1937.838) / ((4.125 + 1237.978) / 2364.778)
=0.428924 / 0.525251
=0.8166

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
=(13.388 - 0 - 98.158) / 1937.838
=-0.043745

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.

Acmepoint Energy Services Co has a M-score of -3.21 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.21 mean?
Acmepoint Energy Services Co (ROCO:6692) has a Beneish M-Score of -3.21 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Acmepoint Energy Services Co and its competitors. According to the industry distribution chart, Acmepoint Energy Services Co ranks #124 out of 987 companies in the Semiconductors industry, placing it in the top 12.6%.
Is Acmepoint Energy Services Co's Beneish M-Score too high?
Acmepoint Energy Services Co's current Beneish M-Score is -3.21. Based on the distribution chart, Acmepoint Energy Services Co ranks #124 out of 987 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Acmepoint Energy Services Co has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Acmepoint Energy Services Co's Beneish M-Score compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Acmepoint Energy Services Co ranks #124 out of 987 companies for Beneish M-Score. This places Acmepoint Energy Services Co in the top 13% of its industry — outperforming the majority of peers. 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 Acmepoint Energy Services Co and its competitors. Acmepoint Energy Services Co's current Beneish M-Score is -3.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Acmepoint Energy Services Co stock overvalued right now?
Based on GuruFocus' analysis, Acmepoint Energy Services Co (ROCO:6692) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$17.57, compared to a current price of NT$22.75 — trading 29.5% above its estimated fair value. The current Beneish M-Score is -3.21. Acmepoint Energy Services Co's overall GF Score™ is 69/100 with 8 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 Acmepoint Energy Services Co (ROCO:6692), the current Beneish M-Score is -3.21 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 Acmepoint Energy Services Co (ROCO:6692) Overvalued in 2026?

Based on GuruFocus' analysis, Acmepoint Energy Services Co stock appears to be overvalued. The current stock price of NT$22.75 is trading 29.5% above its estimated GF Value™ of NT$17.57. GuruFocus considers Acmepoint Energy Services Co to be Modestly Overvalued.

Key valuation signals for ROCO:6692:

  • Beneish M-Score: -3.21
  • GF Value™: NT$17.57 vs. price of NT$22.75 (29.5% above fair value)
  • GF Score™: 69/100 with 8 warning signs

No single metric tells the full story. See the ROCO:6692 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Acmepoint Energy Services Co Business Description

Address No.257, Xinhu 2nd Road, 6 Floor, Neihu District, Taipei, TWN, 114
Acmepoint Energy Services Co is a Taiwan-based company engaged in the construction of solar power station. The products and services offered by the company include Roof PV System, Floating Solar PV system, Ground-mounted PV Systems, and others. The company is also engaged in the development of overseas projects.
69GF Score

Get the complete analysis for ROCO:6692

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

NT$22.75
Price
NT$17.57
GF Value