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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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Xxentria Technology Materials's Beneish M-Score or its related term are showing as below:
ROCO:8942'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.53 Med: -2.56 Max: -0.43
Current: -2.39
During the past 13 years, the highest Beneish M-Score of Xxentria Technology Materials was -0.43. The lowest was -3.53. And the median was -2.56.
Xxentria Technology Materials Beneish M-Score Related Terms
Xxentria Technology Materials Beneish M-Score Historical Data
* 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:8942 vs AA, CENX, CSTM: Beneish M-Score Comparison
For the Aluminum subindustry, Xxentria Technology Materials'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.
Xxentria Technology Materials Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Xxentria Technology Materials's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Xxentria Technology Materials's Beneish M-Score falls into.
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 Xxentria Technology Materials 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 * 1.0295
+
0.528 * 1.489
+
0.404 * 1.142
+
0.892 * 0.795
+
0.115 * 0.8503
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1555
+
4.679 * -0.009312
-
0.327 * 0.9409
=
-2.39
* 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))
=
(240.059 / (240.059 + 5755.439))
/
(285.946 / (285.946 + 5786.598))
=
0.04004
/
0.047088
=
0.8503
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
=
(364.048 - 0
-
498.034)
/
14388.489
=
-0.009312
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.
Xxentria Technology Materials has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
Xxentria Technology Materials (ROCO:8942) has a Beneish M-Score of -2.39 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Xxentria Technology Materials and its competitors. According to the industry distribution chart, Xxentria Technology Materials ranks #299 out of 679 companies in the Metals & Mining industry, placing it in the top 44%.
Is Xxentria Technology Materials' Beneish M-Score too high?
Xxentria Technology Materials' current Beneish M-Score is -2.39. Based on the distribution chart, Xxentria Technology Materials ranks #299 out of 679 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Xxentria Technology Materials has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Xxentria Technology Materials' Beneish M-Score compare to AA and CENX?
According to the Metals & Mining industry distribution chart, Xxentria Technology Materials ranks #299 out of 679 companies for Beneish M-Score. This puts Xxentria Technology Materials 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Xxentria Technology Materials and its competitors. Xxentria Technology Materials's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xxentria Technology Materials stock overvalued right now?
Based on GuruFocus' analysis, Xxentria Technology Materials (ROCO:8942) is currently considered Fairly Valued. The stock's GF Value™ is NT$35.63, compared to a current price of NT$38.85 — trading 9% above its estimated fair value. The current Beneish M-Score is -2.39. Xxentria Technology Materials' overall GF Score™ is 72/100 with 6 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 Xxentria Technology Materials (ROCO:8942), the current Beneish M-Score is -2.39 as of Jul. 23, 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 Xxentria Technology Materials (ROCO:8942) Overvalued in 2026?
Based on GuruFocus' analysis, Xxentria Technology Materials stock appears to be overvalued.
The current stock price of NT$38.85 is trading 9% above its estimated GF Value™ of NT$35.63.
GuruFocus considers Xxentria Technology Materials to be Fairly Valued.
Key valuation signals for ROCO:8942:
Beneish M-Score: -2.39
GF Value™: NT$35.63 vs. price of NT$38.85 (9% above fair value)
No single metric tells the full story. See the ROCO:8942 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xxentria Technology Materials Business Description
Xxentria Technology Materials Corp is engaged in the manufacturing, processing, import, and export of aluminum composite panels, plastic panels, plastic strips, foamed plastic panels, foamed plastic strips, electronic components, and building materials; processing and assembly of aluminum-plastic composite panels; interior design, surface treatment, heat treatment, and manufacturing and sales of other metal products. It serves the architectural, solar, and transportation sectors. The company's reportable segments are Composite Panels, which generate maximum revenue, Real estates Sales Department, Electronic Commerce Department and All others. Geographically, it derives a substantial part of its revenue from the Americas, and the rest from Asia and other regions.
72GF Score
Get the complete analysis for ROCO:8942
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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