Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Cathay Consolidated's Beneish M-Score or its related term are showing as below:
TPE:1342'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.32 Max: -1.47
Current: -2.07
During the past 10 years, the highest Beneish M-Score of Cathay Consolidated was -1.47. The lowest was -3.01. And the median was -2.32.
Cathay Consolidated Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Cathay Consolidated'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.
For the Textile Manufacturing subindustry, Cathay Consolidated'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.
Cathay Consolidated Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Cathay Consolidated's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cathay Consolidated'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 Cathay Consolidated 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 * 1.0583
+
0.528 * 1.1374
+
0.404 * 1.1743
+
0.892 * 1.1202
+
0.115 * 0.794
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8628
+
4.679 * 0.025363
-
0.327 * 1.0461
=
-2.07
* 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))
=
(98.236 / (98.236 + 1336.085))
/
(125.551 / (125.551 + 1329.98))
=
0.06849
/
0.086258
=
0.794
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
=
(464.195 - 0
-
367.805)
/
3800.359
=
0.025363
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.
Cathay Consolidated has a M-score of -2.07 suggests that the company is unlikely to be a manipulator.
Cathay Consolidated (TPE:1342) has a Beneish M-Score of -2.07 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cathay Consolidated and its competitors. According to the industry distribution chart, Cathay Consolidated ranks #740 out of 995 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 74.4%.
Is Cathay Consolidated's Beneish M-Score too high?
Cathay Consolidated's current Beneish M-Score is -2.07. Based on the distribution chart, Cathay Consolidated ranks #740 out of 995 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Cathay Consolidated has a GF Score™ of 95/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cathay Consolidated's Beneish M-Score compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Cathay Consolidated ranks #740 out of 995 companies for Beneish M-Score. This places Cathay Consolidated 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Cathay Consolidated and its competitors. Cathay Consolidated's current Beneish M-Score is -2.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cathay Consolidated stock overvalued right now?
Based on GuruFocus' analysis, Cathay Consolidated (TPE:1342) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$116.35, compared to a current price of NT$102.50 — trading 11.9% below its estimated fair value. The current Beneish M-Score is -2.07. Cathay Consolidated's overall GF Score™ is 95/100 with 3 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 Cathay Consolidated (TPE:1342), the current Beneish M-Score is -2.07 as of Aug. 12, 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 Cathay Consolidated (TPE:1342) Overvalued in 2026?
Based on GuruFocus' analysis, Cathay Consolidated stock appears to be undervalued.
The current stock price of NT$102.50 is trading 11.9% below its estimated GF Value™ of NT$116.35.
GuruFocus considers Cathay Consolidated to be Modestly Undervalued.
Key valuation signals for TPE:1342:
Beneish M-Score: -2.07
GF Value™: NT$116.35 vs. price of NT$102.50 (11.9% below fair value)
No single metric tells the full story. See the TPE:1342 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cathay Consolidated Inc is a Taiwan-based company engaged in the manufacturing of TPU film, air mattresses, covers, laminated fabrics, and bladders. Its revenue mainly comes from the production and sale of functional fabrics. It operates in Taiwan, Asia, the Americas, Others, and the majority of its revenue comes from Asia. The main product of the Company is TPU film, air mattress, cover, laminated fabrics and bladder. The company's products are used in Aviation, Marine, Medical, Outdoor, and Industrial.
95GF Score
Get the complete analysis for TPE:1342
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:1342 has been successfully added to your 
