SELXF (Semilux International) Beneish M-Score: -2.92 (As of Jun. 24, 2026)


What is Semilux International Beneish M-Score?

Semilux International SELXF -16.51% Beneish M-Score is -2.92 as of Jun. 24, 2026. The stock has 3 warning signs investors should review. Among 2,403 Hardware companies, Semilux International ranks better than 79.4% 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 -2.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SELXF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.12   Max: -1.32
Current: -2.92

During the past 4 years, the highest Beneish M-Score of Semilux International was -1.32. The lowest was -2.92. And the median was -2.12.

Semilux International Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Semilux International'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.

Semilux International Beneish M-Score Chart

Semilux International Annual Data
Trend Dec21 Dec22 Dec23 Dec24
Beneish M-Score
0.00 0.00 -1.32 -2.92

Semilux International Semi-Annual Data
Dec21 Dec22 Dec23 Jun24 Dec24 Jun25
Beneish M-Score Get a 7-Day Free Trial 0.00 -1.32 0.00 -2.92 0.00

SELXF vs MSAI, MTEK, GAUZ: Beneish M-Score Comparison

For the Electronic Components subindustry, Semilux International'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.

Semilux International Beneish M-Score vs Hardware Industry

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

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


Semilux International 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 Semilux International 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 * 0.3234+0.528 * 1.9569+0.404 * 0.1947+0.892 * 3.5119+0.115 * 1.1877
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7496+4.679 * -0.399793-0.327 * 2.3123
=-2.92

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $0.20 Mil.
Revenue was $3.69 Mil.
Gross Profit was $-0.87 Mil.
Total Current Assets was $7.40 Mil.
Total Assets was $9.68 Mil.
Property, Plant and Equipment(Net PPE) was $2.12 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.71 Mil.
Selling, General, & Admin. Expense(SGA) was $3.01 Mil.
Total Current Liabilities was $6.91 Mil.
Long-Term Debt & Capital Lease Obligation was $1.36 Mil.
Net Income was $-3.70 Mil.
Gross Profit was $0.10 Mil.
Cash Flow from Operations was $0.07 Mil.
 Total Receivables was $0.18 Mil.
Revenue was $1.05 Mil.
Gross Profit was $-0.49 Mil.
Total Current Assets was $11.36 Mil.
Total Assets was $14.37 Mil.
Property, Plant and Equipment(Net PPE) was $1.83 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.78 Mil.
Selling, General, & Admin. Expense(SGA) was $1.14 Mil.
Total Current Liabilities was $3.93 Mil.
Long-Term Debt & Capital Lease Obligation was $1.38 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)
=(0.201 / 3.691) / (0.177 / 1.051)
=0.054457 / 0.168411
=0.3234

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)
=(-0.487 / 1.051) / (-0.874 / 3.691)
=-0.463368 / -0.236792
=1.9569

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 - (7.404 + 2.116) / 9.675) / (1 - (11.355 + 1.828) / 14.365)
=0.016021 / 0.082283
=0.1947

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
=3.691 / 1.051
=3.5119

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))
=(0.781 / (0.781 + 1.828)) / (0.713 / (0.713 + 2.116))
=0.299348 / 0.252033
=1.1877

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)
=(3.009 / 3.691) / (1.143 / 1.051)
=0.815226 / 1.087536
=0.7496

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)
=((1.358 + 6.913) / 9.675) / ((1.381 + 3.93) / 14.365)
=0.854884 / 0.369718
=2.3123

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
=(-3.703 - 0.097 - 0.068) / 9.675
=-0.399793

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.

Semilux International has a M-score of -2.92 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 -2.92 mean?
Semilux International (SELXF) has a Beneish M-Score of -2.92 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Semilux International and its competitors. According to the industry distribution chart, Semilux International ranks #495 out of 2403 companies in the Hardware industry, placing it in the top 20.6%.
Is Semilux International's Beneish M-Score too high?
Semilux International's current Beneish M-Score is -2.92. Based on the distribution chart, Semilux International ranks #495 out of 2403 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers.
How does Semilux International's Beneish M-Score compare to MSAI and MTEK?
According to the Hardware industry distribution chart, Semilux International ranks #495 out of 2403 companies for Beneish M-Score. This places Semilux International in the top 21% 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 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 Semilux International and its competitors. Semilux International's current Beneish M-Score is -2.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Semilux International stock overvalued right now?
Semilux International (SELXF) has a current Beneish M-Score of -2.92. The current Beneish M-Score is -2.92. 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 Semilux International (SELXF), the current Beneish M-Score is -2.92 as of Jun. 24, 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.

Semilux International Business Description

Address No. 32, Keya Road, 4th Floor, Daya District, Central Taiwan Science Park, Taichung, TWN, 42881
Semilux International Ltd is a company that operates through its subsidiaries which is an optical and 3D sensing technology company that is involved in the customization, design and supply of optical components and integrated chip for various industries including autonomous driving, intelligent lighting, as well as unmanned aerial vehicles. In collaboration with clients, TCO conceptualizes and produces high precision optics and sensing modules that are specifically customized to clients' needs for ease of integration in overall design and production. Applications for TCO's products include automotive laser headlight systems, adaptive driving beams (ADB) as well as light detection and autonomous driving systems (LiDAR).