EmBestor Technology (ROCO:7843) Beneish M-Score: -1.63 (As of Jul. 21, 2026)

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ROCO:7843 EmBestor Technology Inc ROCO:7843
24 GF Score
Price NT$107.00
! 4 Warning Signs
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What is EmBestor Technology Beneish M-Score?

EmBestor Technology ROCO:7843 24 Beneish M-Score is -1.63 as of Jul. 21, 2026. GuruFocus rates ROCO:7843 with a GF Score™ of 24/100. The stock has 4 warning signs investors should review. Among 2,405 Hardware companies, EmBestor Technology ranks worse than 86.61% 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.

Warning Sign:

Beneish M-Score -1.63 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ROCO:7843' s Beneish M-Score Range Over the Past 10 Years
Min: -2.69   Med: -2.31   Max: -1.63
Current: -1.63

During the past 5 years, the highest Beneish M-Score of EmBestor Technology was -1.63. The lowest was -2.69. And the median was -2.31.

EmBestor Technology Beneish M-Score Historical Data

* Premium members only.

The historical data trend for EmBestor Technology'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.

EmBestor Technology Beneish M-Score Chart

EmBestor Technology Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.69 -2.31 -1.63

EmBestor Technology Semi-Annual Data
Dec21 Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -2.69 0.00 -2.31 0.00 -1.63

ROCO:7843 vs SNDK, DELL, STX: Beneish M-Score Comparison

For the Computer Hardware subindustry, EmBestor Technology'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.

EmBestor Technology Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, EmBestor Technology's Beneish M-Score distribution charts can be found below:

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


ROCO:7843
24GF Score
EmBestor Technology Inc ROCO:7843
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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EmBestor Technology 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 EmBestor Technology 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 * 1.3819+0.528 * 1.1561+0.404 * 0.8347+0.892 * 1.2154+0.115 * 1.3617
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0067+4.679 * 0.047792-0.327 * 0.9164
=-1.63

* 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$53.0 Mil.
Revenue was NT$327.5 Mil.
Gross Profit was NT$131.2 Mil.
Total Current Assets was NT$564.8 Mil.
Total Assets was NT$605.2 Mil.
Property, Plant and Equipment(Net PPE) was NT$24.0 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$10.0 Mil.
Selling, General, & Admin. Expense(SGA) was NT$49.9 Mil.
Total Current Liabilities was NT$39.0 Mil.
Long-Term Debt & Capital Lease Obligation was NT$9.8 Mil.
Net Income was NT$17.1 Mil.
Gross Profit was NT$0.0 Mil.
Cash Flow from Operations was NT$-11.8 Mil.
 Total Receivables was NT$31.6 Mil.
Revenue was NT$269.5 Mil.
Gross Profit was NT$124.8 Mil.
Total Current Assets was NT$462.8 Mil.
Total Assets was NT$494.1 Mil.
Property, Plant and Equipment(Net PPE) was NT$15.3 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$10.3 Mil.
Selling, General, & Admin. Expense(SGA) was NT$40.7 Mil.
Total Current Liabilities was NT$43.3 Mil.
Long-Term Debt & Capital Lease Obligation was NT$0.2 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)
=(53.007 / 327.516) / (31.559 / 269.461)
=0.161846 / 0.117119
=1.3819

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)
=(124.837 / 269.461) / (131.245 / 327.516)
=0.463284 / 0.400729
=1.1561

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 - (564.838 + 24.007) / 605.231) / (1 - (462.823 + 15.287) / 494.138)
=0.027074 / 0.032436
=0.8347

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
=327.516 / 269.461
=1.2154

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))
=(10.254 / (10.254 + 15.287)) / (10.037 / (10.037 + 24.007))
=0.401472 / 0.294824
=1.3617

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)
=(49.854 / 327.516) / (40.743 / 269.461)
=0.152219 / 0.151202
=1.0067

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)
=((9.799 + 39.042) / 605.231) / ((0.19 + 43.322) / 494.138)
=0.080698 / 0.088056
=0.9164

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
=(17.142 - 0 - -11.783) / 605.231
=0.047792

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.

EmBestor Technology has a M-score of -1.63 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 -1.63 mean?
EmBestor Technology (ROCO:7843) has a Beneish M-Score of -1.63 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on EmBestor Technology and its competitors. According to the industry distribution chart, EmBestor Technology ranks #2083 out of 2405 companies in the Hardware industry, placing it in the top 86.6%.
Is EmBestor Technology's Beneish M-Score too high?
EmBestor Technology's current Beneish M-Score is -1.63. Based on the distribution chart, EmBestor Technology ranks #2083 out of 2405 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, EmBestor Technology has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does EmBestor Technology's Beneish M-Score compare to SNDK and DELL?
According to the Hardware industry distribution chart, EmBestor Technology ranks #2083 out of 2405 companies for Beneish M-Score. This places EmBestor Technology 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 a Hardware company?
A good Beneish M-Score depends on the Hardware 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 EmBestor Technology and its competitors. EmBestor Technology's current Beneish M-Score is -1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EmBestor Technology stock overvalued right now?
EmBestor Technology (ROCO:7843) has a current Beneish M-Score of -1.63. The current Beneish M-Score is -1.63. EmBestor Technology's overall GF Score™ is 24/100 with 4 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 EmBestor Technology (ROCO:7843), the current Beneish M-Score is -1.63 as of Jul. 21, 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.

EmBestor Technology Business Description

Address 7th Floor, No.1, Chinshan 8th Street, Hsinchu, TWN, 30080
EmBestor Technology Inc is a professional technology company of Embedded Flash Storage Products and Solutions for industrial applications. It provides the products and business of industrial embedded flash storage modules, such as: industrial SD/uSD cards, industrial SATA SSD, and industrial PCIe/NVMe SSD.
24GF Score

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

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