Getac Holdings (TPE:3005) Beneish M-Score: -2.49 (As of Jun. 26, 2026)


TPE:3005 Getac Holdings Corp TPE:3005
91 GF Score
Price NT$96.00
GF Value NT$124.05
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Getac Holdings Beneish M-Score?

Getac Holdings TPE:3005 -2.24% 91 Beneish M-Score is -2.49 as of Jun. 26, 2026. GuruFocus rates TPE:3005 with a GF Score™ of 91/100 and a GF Value™ of NT$124.05 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,404 Hardware companies, Getac Holdings ranks better than 52% 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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TPE:3005' s Beneish M-Score Range Over the Past 10 Years
Min: -2.87   Med: -2.56   Max: -1.99
Current: -2.49

During the past 13 years, the highest Beneish M-Score of Getac Holdings was -1.99. The lowest was -2.87. And the median was -2.56.


Getac Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Getac Holdings'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.

Getac Holdings Beneish M-Score Chart

Getac Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.99 -2.87 -2.62 -2.66 -2.49

Getac Holdings Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.66 -2.39 -2.73 -2.53 -2.49

TPE:3005 vs DELL, SNDK, ANET: Beneish M-Score Comparison

For the Computer Hardware subindustry, Getac Holdings'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.


Getac Holdings Beneish M-Score vs Hardware Industry

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

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


TPE:3005
91GF Score
Getac Holdings Corp TPE:3005
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Getac Holdings 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 Getac Holdings 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 * 0.9095+0.528 * 0.9985+0.404 * 1.0121+0.892 * 1.106+0.115 * 1.0446
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9169+4.679 * -0.010955-0.327 * 0.9835
=-2.49

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was NT$8,672 Mil.
Revenue was 10313.302 + 9773.392 + 9808.958 + 9552.192 = NT$39,448 Mil.
Gross Profit was 3199.644 + 3082.781 + 3293.811 + 2970.505 = NT$12,547 Mil.
Total Current Assets was NT$33,148 Mil.
Total Assets was NT$50,147 Mil.
Property, Plant and Equipment(Net PPE) was NT$10,958 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$1,332 Mil.
Selling, General, & Admin. Expense(SGA) was NT$4,312 Mil.
Total Current Liabilities was NT$15,939 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,013 Mil.
Net Income was 1284.205 + 1312.908 + 1402.085 + 1227.773 = NT$5,227 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was 1326.89 + 1666.891 + 2790.845 + -8.304 = NT$5,776 Mil.
Total Receivables was NT$8,621 Mil.
Revenue was 9173.167 + 9136.062 + 8653.783 + 8705.374 = NT$35,668 Mil.
Gross Profit was 2917.594 + 2926.924 + 2829.328 + 2653.843 = NT$11,328 Mil.
Total Current Assets was NT$30,505 Mil.
Total Assets was NT$46,516 Mil.
Property, Plant and Equipment(Net PPE) was NT$10,474 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$1,338 Mil.
Selling, General, & Admin. Expense(SGA) was NT$4,253 Mil.
Total Current Liabilities was NT$14,625 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,306 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)
=(8671.561 / 39447.844) / (8620.776 / 35668.386)
=0.219823 / 0.241692
=0.9095

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)
=(11327.689 / 35668.386) / (12546.741 / 39447.844)
=0.317583 / 0.318059
=0.9985

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 - (33148.454 + 10957.855) / 50147.25) / (1 - (30505.129 + 10474.329) / 46516.074)
=0.120464 / 0.119026
=1.0121

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
=39447.844 / 35668.386
=1.106

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))
=(1337.5 / (1337.5 + 10474.329)) / (1332.308 / (1332.308 + 10957.855))
=0.113234 / 0.108404
=1.0446

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)
=(4312.246 / 39447.844) / (4252.68 / 35668.386)
=0.109315 / 0.119228
=0.9169

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)
=((2012.555 + 15938.806) / 50147.25) / ((2305.505 + 14624.825) / 46516.074)
=0.357973 / 0.363967
=0.9835

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
=(5226.971 - 0 - 5776.322) / 50147.25
=-0.010955

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.

Getac Holdings has a M-score of -2.49 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 -2.49 mean?
Getac Holdings (TPE:3005) has a Beneish M-Score of -2.49 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Getac Holdings and its competitors. According to the industry distribution chart, Getac Holdings ranks #1154 out of 2404 companies in the Hardware industry, placing it in the top 48%.
Is Getac Holdings' Beneish M-Score too high?
Getac Holdings' current Beneish M-Score is -2.49. Based on the distribution chart, Getac Holdings ranks #1154 out of 2404 companies in the Hardware industry, which is above the industry midpoint. Overall, Getac Holdings has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Getac Holdings' Beneish M-Score compare to DELL and SNDK?
According to the Hardware industry distribution chart, Getac Holdings ranks #1154 out of 2404 companies for Beneish M-Score. This puts Getac Holdings in the upper 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 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 Getac Holdings and its competitors. Getac Holdings's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Getac Holdings stock overvalued right now?
Based on GuruFocus' analysis, Getac Holdings (TPE:3005) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$124.05, compared to a current price of NT$96.00 — trading 22.6% below its estimated fair value. The current Beneish M-Score is -2.49. Getac Holdings' overall GF Score™ is 91/100 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 Getac Holdings (TPE:3005), the current Beneish M-Score is -2.49 as of Jun. 26, 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 Getac Holdings (TPE:3005) Overvalued in 2026?

Based on GuruFocus' analysis, Getac Holdings stock appears to be undervalued. The current stock price of NT$96.00 is trading 22.6% below its estimated GF Value™ of NT$124.05. GuruFocus considers Getac Holdings to be Modestly Undervalued.

Key valuation signals for TPE:3005:

  • Beneish M-Score: -2.49
  • GF Value™: NT$124.05 vs. price of NT$96.00 (22.6% below fair value)
  • GF Score™: 91/100 with 2 warning signs

No single metric tells the full story. See the TPE:3005 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Getac Holdings Business Description

Address No. 209, Building A, Nangang Road, Section 1, 5th Floor, Taipei, TWN, 11568
Getac Holdings Corp is a manufacturer of rugged notebooks, tablets, and personal computers. Its products can be used in extreme environments such as sandstorms and blizzards and can withstand a wide range of temperatures. Their functionality includes modularity and flexibility of military interfaces and readability in pitch darkness with night vision goggles. The firm offers bespoke hardware solutions to meet specific client requirements as well. The firm has operations in North America, Asia, and Europe. The reportable segments of the company are Electronic parts, automotive and home appliance industries, and aerospace fasteners. The Majority of its revenue is generated from the electronic parts segment.
91GF Score

Get the complete analysis for TPE:3005

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$96.00
Price
NT$124.05
GF Value