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 Uni-President Enterprises's Beneish M-Score or its related term are showing as below:
TPE:1216'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.37 Med: -2.84 Max: -0.79
Current: -2.92
During the past 13 years, the highest Beneish M-Score of Uni-President Enterprises was -0.79. The lowest was -3.37. And the median was -2.84.
Uni-President Enterprises Beneish M-Score Related Terms
Uni-President Enterprises 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.
For the Packaged Foods subindustry, Uni-President Enterprises'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.
Uni-President Enterprises Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Uni-President Enterprises's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Uni-President Enterprises'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 Uni-President Enterprises 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 * 0.8915
+
0.528 * 0.9889
+
0.404 * 1.0092
+
0.892 * 1.0232
+
0.115 * 1.0314
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0119
+
4.679 * -0.075608
-
0.327 * 1.0153
=
-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.
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))
=
(43126.141 / (43126.141 + 319422.072))
/
(44407.559 / (44407.559 + 340650.26))
=
0.118953
/
0.115327
=
1.0314
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
=
(19627.594 - 0
-
75383.767)
/
737441.27
=
-0.075608
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.
Uni-President Enterprises has a M-score of -2.92 suggests that the company is unlikely to be a manipulator.
Uni-President Enterprises (TPE:1216) has a Beneish M-Score of -2.92 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Uni-President Enterprises and its competitors. According to the industry distribution chart, Uni-President Enterprises ranks #380 out of 1847 companies in the Consumer Packaged Goods industry, placing it in the top 20.6%.
Is Uni-President Enterprises' Beneish M-Score too high?
Uni-President Enterprises' current Beneish M-Score is -2.92. Based on the distribution chart, Uni-President Enterprises ranks #380 out of 1847 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Uni-President Enterprises has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Uni-President Enterprises' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Uni-President Enterprises ranks #380 out of 1847 companies for Beneish M-Score. This places Uni-President Enterprises 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Uni-President Enterprises and its competitors. Uni-President Enterprises'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 Uni-President Enterprises stock overvalued right now?
Based on GuruFocus' analysis, Uni-President Enterprises (TPE:1216) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$89.42, compared to a current price of NT$74.90 — trading 16.2% below its estimated fair value. The current Beneish M-Score is -2.92. Uni-President Enterprises' overall GF Score™ is 81/100 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 Uni-President Enterprises (TPE:1216), the current Beneish M-Score is -2.92 as of Jul. 03, 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 Uni-President Enterprises (TPE:1216) Overvalued in 2026?
Based on GuruFocus' analysis, Uni-President Enterprises stock appears to be undervalued.
The current stock price of NT$74.90 is trading 16.2% below its estimated GF Value™ of NT$89.42.
GuruFocus considers Uni-President Enterprises to be Modestly Undervalued.
Key valuation signals for TPE:1216:
Beneish M-Score: -2.92
GF Value™: NT$89.42 vs. price of NT$74.90 (16.2% below fair value)
No single metric tells the full story. See the TPE:1216 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Uni-President Enterprises Corp is food conglomerates in Asia. It produces and sells a comprehensive range of food products through its company and affiliates. Core business includes food manufacturing and investments in other related business. The company operates in three segments- Dairy Department, Beverage Department and Food Department. Product categories include feeds, flour, edible oils, soy sauce, meat products, instant noodles, bread, beverages, dairy products, frozen food, and health food. Through its network of 200 affiliates, its convenient stores, retail, logistics, finance, and recreation operations are located all across Taiwan, mainland China, and Southeast Asia.
81GF Score
Get the complete analysis for TPE:1216
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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