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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 -2.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Medtecs International's Beneish M-Score or its related term are showing as below:
SGX:546'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.01 Med: -2.69 Max: 1.5
Current: -2.93
During the past 13 years, the highest Beneish M-Score of Medtecs International was 1.50. The lowest was -6.01. And the median was -2.69.
Medtecs International Beneish M-Score Related Terms
Medtecs International Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Medtecs 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.
SGX:546 vs ISRG, BDX, MDLN: Beneish M-Score Comparison
For the Medical Instruments & Supplies subindustry, Medtecs 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.
Medtecs International Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medtecs International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Medtecs International'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 Medtecs 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 * 0.3708
+
0.528 * 0.7896
+
0.404 * 0.5759
+
0.892 * 1.3868
+
0.115 * 2.3924
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4814
+
4.679 * -0.016246
-
0.327 * 1.3325
=
-2.93
* 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))
=
(10.198 / (10.198 + 35.718))
/
(8.597 / (8.597 + 84.007))
=
0.222101
/
0.092836
=
2.3924
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
=
(-6.15 - 0
-
-3.094)
/
188.11
=
-0.016246
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.
Medtecs International has a M-score of -2.93 suggests that the company is unlikely to be a manipulator.
Medtecs International (SGX:546) has a Beneish M-Score of -2.93 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Medtecs International and its competitors. According to the industry distribution chart, Medtecs International ranks #184 out of 767 companies in the Medical Devices & Instruments industry, placing it in the top 24%.
Is Medtecs International's Beneish M-Score too high?
Medtecs International's current Beneish M-Score is -2.93. Based on the distribution chart, Medtecs International ranks #184 out of 767 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Medtecs International has a GF Score™ of 37/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Medtecs International's Beneish M-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Medtecs International ranks #184 out of 767 companies for Beneish M-Score. This places Medtecs International in the top 24% 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Medtecs International and its competitors. Medtecs International's current Beneish M-Score is -2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medtecs International stock overvalued right now?
Based on GuruFocus' analysis, Medtecs International (SGX:546) is currently considered Possible Value Trap. The stock's GF Value™ is S$0.20, compared to a current price of S$0.12 — trading 42% below its estimated fair value. The current Beneish M-Score is -2.93. Medtecs International's overall GF Score™ is 37/100 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 Medtecs International (SGX:546), the current Beneish M-Score is -2.93 as of Aug. 14, 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 Medtecs International (SGX:546) Overvalued in 2026?
Based on GuruFocus' analysis, Medtecs International stock appears to be undervalued.
The current stock price of S$0.12 is trading 42% below its estimated GF Value™ of S$0.20.
GuruFocus considers Medtecs International to be Possible Value Trap.
Key valuation signals for SGX:546:
Beneish M-Score: -2.93
GF Value™: S$0.20 vs. price of S$0.12 (42% below fair value)
No single metric tells the full story. See the SGX:546 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Medtecs International Corp Ltd is an investment holding company. The company, along with its subsidiaries, is a manufacturer of medical consumables and provides healthcare products and services. It operates in three segments. The Manufacturing segment produces and sub-contracts medical consumables, including patients' apparel, disposable surgical masks, boot covers and surgical gowns, adult diapers, underpads, crochet blankets, bed linens and medical bandages. The Hospital services segment provides laundry and leasing services. The Distribution segment is involved in the marketing of Medtecs-branded medical consumables to hospitals, pharmacies, and other end users in Asia Pacific and through online channels. It generates the majority of its revenue from the Manufacturing segment.
37GF 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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