Q Burger Group Co (ROCO:7797) Beneish M-Score: -2.84 (As of Jul. 12, 2026)


ROCO:7797 Q Burger Group Co Ltd ROCO:7797
9 GF Score
Price NT$57.00
! 7 Warning Signs
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What is Q Burger Group Co Beneish M-Score?

Q Burger Group Co ROCO:7797 9 Beneish M-Score is -2.84 as of Jul. 12, 2026. GuruFocus rates ROCO:7797 with a GF Score™ of 9/100. The stock has 7 warning signs investors should review. Among 354 Restaurants companies, Q Burger Group Co ranks better than 57.63% 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Q Burger Group Co's Beneish M-Score or its related term are showing as below:

ROCO:7797' s Beneish M-Score Range Over the Past 10 Years
Min: -2.84   Med: -2.7   Max: -2.07
Current: -2.84

During the past 6 years, the highest Beneish M-Score of Q Burger Group Co was -2.07. The lowest was -2.84. And the median was -2.70.


Q Burger Group Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Q Burger Group 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.

Q Burger Group Co Beneish M-Score Chart

Q Burger Group Co Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.07 -2.55 -2.84 -2.84

Q Burger Group Co Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -2.55 0.00 -2.84 0.00 -2.84

ROCO:7797 vs MCD, SBUX, YUM: Beneish M-Score Comparison

For the Restaurants subindustry, Q Burger Group 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.


Q Burger Group Co Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Q Burger Group Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Q Burger Group Co's Beneish M-Score falls into.


ROCO:7797
9GF Score
Q Burger Group Co Ltd ROCO:7797
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Q Burger Group 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 Q Burger Group 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 * 0.9121+0.528 * 0.9883+0.404 * 1.1858+0.892 * 1.0844+0.115 * 0.8234
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.118+4.679 * -0.073413-0.327 * 1.1156
=-2.84

* 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$37 Mil.
Revenue was NT$2,410 Mil.
Gross Profit was NT$1,102 Mil.
Total Current Assets was NT$333 Mil.
Total Assets was NT$2,979 Mil.
Property, Plant and Equipment(Net PPE) was NT$2,264 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$278 Mil.
Selling, General, & Admin. Expense(SGA) was NT$1,000 Mil.
Total Current Liabilities was NT$909 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,667 Mil.
Net Income was NT$55 Mil.
Gross Profit was NT$0 Mil.
Cash Flow from Operations was NT$273 Mil.
Total Receivables was NT$37 Mil.
Revenue was NT$2,222 Mil.
Gross Profit was NT$1,004 Mil.
Total Current Assets was NT$510 Mil.
Total Assets was NT$2,809 Mil.
Property, Plant and Equipment(Net PPE) was NT$1,995 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$197 Mil.
Selling, General, & Admin. Expense(SGA) was NT$825 Mil.
Total Current Liabilities was NT$614 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,564 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)
=(36.7 / 2409.903) / (37.106 / 2222.392)
=0.015229 / 0.016696
=0.9121

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)
=(1003.882 / 2222.392) / (1101.524 / 2409.903)
=0.451712 / 0.457082
=0.9883

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 - (332.974 + 2263.669) / 2979.365) / (1 - (509.509 + 1995.297) / 2809.105)
=0.128458 / 0.108326
=1.1858

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
=2409.903 / 2222.392
=1.0844

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))
=(197.291 / (197.291 + 1995.297)) / (277.714 / (277.714 + 2263.669))
=0.089981 / 0.109277
=0.8234

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)
=(999.936 / 2409.903) / (824.773 / 2222.392)
=0.414928 / 0.371119
=1.118

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)
=((1667.176 + 909.318) / 2979.365) / ((1563.52 + 613.939) / 2809.105)
=0.86478 / 0.775143
=1.1156

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
=(54.624 - 0 - 273.348) / 2979.365
=-0.073413

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.

Q Burger Group Co has a M-score of -2.84 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 -2.84 mean?
Q Burger Group Co (ROCO:7797) has a Beneish M-Score of -2.84 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Q Burger Group Co and its competitors. According to the industry distribution chart, Q Burger Group Co ranks #150 out of 354 companies in the Restaurants industry, placing it in the top 42.4%.
Is Q Burger Group Co's Beneish M-Score too high?
Q Burger Group Co's current Beneish M-Score is -2.84. Based on the distribution chart, Q Burger Group Co ranks #150 out of 354 companies in the Restaurants industry, which is above the industry midpoint. Overall, Q Burger Group Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Q Burger Group Co's Beneish M-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Q Burger Group Co ranks #150 out of 354 companies for Beneish M-Score. This puts Q Burger Group Co 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 Q Burger Group Co and its competitors. Q Burger Group Co's current Beneish M-Score is -2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Q Burger Group Co stock overvalued right now?
Q Burger Group Co (ROCO:7797) has a current Beneish M-Score of -2.84. The current Beneish M-Score is -2.84. Q Burger Group Co's overall GF Score™ is 9/100 with 7 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 Q Burger Group Co (ROCO:7797), the current Beneish M-Score is -2.84 as of Jul. 12, 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.

Q Burger Group Co Business Description

Address No. 238, Zhongxing North Street, Sanchong District, New Taipei, TWN, 241
Q Burger Group Co Ltd is engaged in Operation of chain restaurants and sales of related products. It offers a comfortable and bright dining environment and provides high-quality, exquisite, and affordable brunch. Its food products are Stuffed Crispy Chicken Leg Brio Toast, Stuffed crispy chicken drumsticks and brioche toast set (spicy), strawberry milk, and others.
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Get the complete analysis for ROCO:7797

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

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