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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 -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Uniflex Technology's Beneish M-Score or its related term are showing as below:
TPE:3321'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.82 Med: -2.75 Max: 29.23
Current: -2.38
During the past 13 years, the highest Beneish M-Score of Uniflex Technology was 29.23. The lowest was -5.82. And the median was -2.75.
Uniflex Technology Beneish M-Score Related Terms
Uniflex Technology Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Uniflex Technology'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 Electronic Components subindustry, Uniflex Technology'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.
Uniflex Technology Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Uniflex Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Uniflex Technology'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 Uniflex Technology 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 * 1.1808
+
0.528 * 0.3742
+
0.404 * 0.9142
+
0.892 * 1.091
+
0.115 * 1.1163
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9255
+
4.679 * 0.033059
-
0.327 * 0.8846
=
-2.38
* 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))
=
(95.485 / (95.485 + 419.887))
/
(88.616 / (88.616 + 445.308))
=
0.185274
/
0.165971
=
1.1163
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
=
(-180.132 - 0
-
-250.868)
/
2139.696
=
0.033059
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.
Uniflex Technology has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.
Uniflex Technology (TPE:3321) has a Beneish M-Score of -2.38 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Uniflex Technology and its competitors. According to the industry distribution chart, Uniflex Technology ranks #1370 out of 2408 companies in the Hardware industry, placing it in the top 56.9%.
Is Uniflex Technology's Beneish M-Score too high?
Uniflex Technology's current Beneish M-Score is -2.38. Based on the distribution chart, Uniflex Technology ranks #1370 out of 2408 companies in the Hardware industry, which is below the industry midpoint. Overall, Uniflex Technology has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Uniflex Technology's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Uniflex Technology ranks #1370 out of 2408 companies for Beneish M-Score. This places Uniflex Technology 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 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 Uniflex Technology and its competitors. Uniflex Technology's current Beneish M-Score is -2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Uniflex Technology stock overvalued right now?
Based on GuruFocus' analysis, Uniflex Technology (TPE:3321) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$25.77, compared to a current price of NT$20.40 — trading 20.8% below its estimated fair value. The current Beneish M-Score is -2.38. Uniflex Technology's overall GF Score™ is 63/100 with 5 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 Uniflex Technology (TPE:3321), the current Beneish M-Score is -2.38 as of Jul. 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 Uniflex Technology (TPE:3321) Overvalued in 2026?
Based on GuruFocus' analysis, Uniflex Technology stock appears to be undervalued.
The current stock price of NT$20.40 is trading 20.8% below its estimated GF Value™ of NT$25.77.
GuruFocus considers Uniflex Technology to be Modestly Undervalued.
Key valuation signals for TPE:3321:
Beneish M-Score: -2.38
GF Value™: NT$25.77 vs. price of NT$20.40 (20.8% below fair value)
No single metric tells the full story. See the TPE:3321 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Uniflex Technology Inc is engaged in the manufacturing, processing, and sales of various printed circuit boards and electronic components. The company's products include Single-sided FPC, Double-sided FPC, Double access, and Multi-Layer FPC, which are used in various applications such as Information technology, Communication, Consumer electronics, Automotive, Medical Equipment, and Industrial Equipment. Geographically, its operations are spread across Taiwan and Mainland China, with the majority of the revenue generating from Mainland China.
63GF Score
Get the complete analysis for TPE:3321
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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