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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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ho Tung Chemical's Beneish M-Score or its related term are showing as below:
TPE:1714'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.15 Med: -2.71 Max: -1.46
Current: -2.45
During the past 13 years, the highest Beneish M-Score of Ho Tung Chemical was -1.46. The lowest was -4.15. And the median was -2.71.
The historical data trend for Ho Tung Chemical'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 Chemicals subindustry, Ho Tung Chemical'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.
Ho Tung Chemical Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Ho Tung Chemical's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ho Tung Chemical'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 Ho Tung Chemical 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 * 0.9477
+
0.528 * 0.6408
+
0.404 * 0.8364
+
0.892 * 1.3628
+
0.115 * 1.2039
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8066
+
4.679 * -0.012757
-
0.327 * 0.9557
=
-2.45
* 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))
=
(583.373 / (583.373 + 5627.062))
/
(511.975 / (511.975 + 6049.88))
=
0.093934
/
0.078023
=
1.2039
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
=
(1161.337 - 0
-
1508.412)
/
27205.9
=
-0.012757
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.
Ho Tung Chemical has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
Ho Tung Chemical (TPE:1714) has a Beneish M-Score of -2.45 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ho Tung Chemical and its competitors. According to the industry distribution chart, Ho Tung Chemical ranks #810 out of 1538 companies in the Chemicals industry, placing it in the top 52.7%.
Is Ho Tung Chemical's Beneish M-Score too high?
Ho Tung Chemical's current Beneish M-Score is -2.45. Based on the distribution chart, Ho Tung Chemical ranks #810 out of 1538 companies in the Chemicals industry, which is below the industry midpoint. Overall, Ho Tung Chemical has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ho Tung Chemical's Beneish M-Score compare to DOW?
According to the Chemicals industry distribution chart, Ho Tung Chemical ranks #810 out of 1538 companies for Beneish M-Score. This places Ho Tung Chemical 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Ho Tung Chemical and its competitors. Ho Tung Chemical's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ho Tung Chemical stock overvalued right now?
Based on GuruFocus' analysis, Ho Tung Chemical (TPE:1714) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$12.73, compared to a current price of NT$16.55 — trading 30% above its estimated fair value. The current Beneish M-Score is -2.45. Ho Tung Chemical's overall GF Score™ is 67/100 with 2 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 Ho Tung Chemical (TPE:1714), the current Beneish M-Score is -2.45 as of Aug. 27, 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 Ho Tung Chemical (TPE:1714) Overvalued in 2026?
Based on GuruFocus' analysis, Ho Tung Chemical stock appears to be overvalued.
The current stock price of NT$16.55 is trading 30% above its estimated GF Value™ of NT$12.73.
GuruFocus considers Ho Tung Chemical to be Modestly Overvalued.
Key valuation signals for TPE:1714:
Beneish M-Score: -2.45
GF Value™: NT$12.73 vs. price of NT$16.55 (30% above fair value)
No single metric tells the full story. See the TPE:1714 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ho Tung Chemical Corp is engaged in the manufacturing, processing, and sales of chemicals such as normal paraffin, alkenes, etc. The company's key products comprise Paraffin, Linear Alkylbenzene, Anionic Surfactants, Cationic Surfactants, Non-ionic Surfactants, Amphoteric Surfactants, Solvents, and others. It also focuses on other businesses like oil, investment, and cement. The company's reportable segments include Chemicals, which derives the majority of its revenue from Oil Products, Cement, and Investments. Geographically, the company generates a majority of its revenue from China and the rest from Taiwan, other parts of Southeast Asia, and other regions.
67GF Score
Get the complete analysis for TPE:1714
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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