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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 -2.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Tatung System Technologies's Beneish M-Score or its related term are showing as below:
ROCO:8099'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.49 Med: -2.46 Max: -1.49
Current: -2.06
During the past 13 years, the highest Beneish M-Score of Tatung System Technologies was -1.49. The lowest was -3.49. And the median was -2.46.
* 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:8099 vs IBM, ACN, CTSH: Beneish M-Score Comparison
For the Information Technology Services subindustry, Tatung System Technologies'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.
Tatung System Technologies Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Tatung System Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tatung System Technologies's Beneish M-Score falls into.
Tatung System Technologies 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 Tatung System Technologies 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 * 1.0351
+
0.528 * 1.1367
+
0.404 * 0.8814
+
0.892 * 1.4107
+
0.115 * 0.9763
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8071
+
4.679 * 0.003374
-
0.327 * 1.1588
=
-2.06
* 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))
=
(92.623 / (92.623 + 170.352))
/
(73.046 / (73.046 + 129.421))
=
0.352212
/
0.36078
=
0.9763
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
=
(329.19 - 0
-
316.461)
/
3772.301
=
0.003374
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.
Tatung System Technologies has a M-score of -2.06 suggests that the company is unlikely to be a manipulator.
Tatung System Technologies (ROCO:8099) has a Beneish M-Score of -2.06 as of Sep. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tatung System Technologies and its competitors. According to the industry distribution chart, Tatung System Technologies ranks #1947 out of 2640 companies in the Software industry, placing it in the top 73.7%.
Is Tatung System Technologies' Beneish M-Score too high?
Tatung System Technologies' current Beneish M-Score is -2.06. Based on the distribution chart, Tatung System Technologies ranks #1947 out of 2640 companies in the Software industry, which is below the industry midpoint. Overall, Tatung System Technologies has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tatung System Technologies' Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Tatung System Technologies ranks #1947 out of 2640 companies for Beneish M-Score. This places Tatung System Technologies 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 Software company?
A good Beneish M-Score depends on the Software 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 Tatung System Technologies and its competitors. Tatung System Technologies's current Beneish M-Score is -2.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tatung System Technologies stock overvalued right now?
Based on GuruFocus' analysis, Tatung System Technologies (ROCO:8099) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$89.54, compared to a current price of NT$61.50 — trading 31.3% below its estimated fair value. The current Beneish M-Score is -2.06. Tatung System Technologies' overall GF Score™ is 79/100. 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 Tatung System Technologies (ROCO:8099), the current Beneish M-Score is -2.06 as of Sep. 04, 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 Tatung System Technologies (ROCO:8099) Overvalued in 2026?
Based on GuruFocus' analysis, Tatung System Technologies stock appears to be undervalued.
The current stock price of NT$61.50 is trading 31.3% below its estimated GF Value™ of NT$89.54.
GuruFocus considers Tatung System Technologies to be Significantly Undervalued.
Key valuation signals for ROCO:8099:
Beneish M-Score: -2.06
GF Value™: NT$89.54 vs. price of NT$61.50 (31.3% below fair value)
No single metric tells the full story. See the ROCO:8099 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tatung System Technologies Inc is engaged in software and hardware sales related to computer, communications and cybersecurity; custom made system integration consulting and services; providing value-added industrial application solutions. Its solutions cover OneAi Solution, Cyber Security Zero Trust Architecture, Modern Data Center, Modern Work, and UC Collaboration. The company generates revenue from the distribution and maintenance of computers and peripherals, research, design, development, and sale of computer software/hardware, and informatization and digital transformation services.
79GF Score
Get the complete analysis for ROCO:8099
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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