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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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CHC Healthcare Group's Beneish M-Score or its related term are showing as below:
TPE:4164'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.09 Med: -2.64 Max: -2.02
Current: -2.7
During the past 13 years, the highest Beneish M-Score of CHC Healthcare Group was -2.02. The lowest was -3.09. And the median was -2.64.
CHC Healthcare Group Beneish M-Score Related Terms
CHC Healthcare Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for CHC Healthcare Group'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.
TPE:4164 vs MCK, COR, CAH: Beneish M-Score Comparison
For the Medical Distribution subindustry, CHC Healthcare Group'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.
CHC Healthcare Group Beneish M-Score vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, CHC Healthcare Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CHC Healthcare Group'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 CHC Healthcare Group 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 * 0.8129
+
0.528 * 0.8043
+
0.404 * 1.1294
+
0.892 * 1.1521
+
0.115 * 1.0113
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1444
+
4.679 * -0.026934
-
0.327 * 0.9498
=
-2.70
* 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))
=
(647.283 / (647.283 + 6157.475))
/
(662.629 / (662.629 + 6381.962))
=
0.095122
/
0.094062
=
1.0113
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
=
(204.07 - 0
-
633.829)
/
15956.285
=
-0.026934
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.
CHC Healthcare Group has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
CHC Healthcare Group (TPE:4164) has a Beneish M-Score of -2.70 as of Aug. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CHC Healthcare Group and its competitors. According to the industry distribution chart, CHC Healthcare Group ranks #36 out of 115 companies in the Medical Distribution industry, placing it in the top 31.3%.
Is CHC Healthcare Group's Beneish M-Score too high?
CHC Healthcare Group's current Beneish M-Score is -2.70. Based on the distribution chart, CHC Healthcare Group ranks #36 out of 115 companies in the Medical Distribution industry, which is above the industry midpoint. Overall, CHC Healthcare Group has a GF Score™ of 76/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does CHC Healthcare Group's Beneish M-Score compare to MCK and COR?
According to the Medical Distribution industry distribution chart, CHC Healthcare Group ranks #36 out of 115 companies for Beneish M-Score. This puts CHC Healthcare Group 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 Medical Distribution company?
A good Beneish M-Score depends on the Medical Distribution 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 CHC Healthcare Group and its competitors. CHC Healthcare Group's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CHC Healthcare Group stock overvalued right now?
Based on GuruFocus' analysis, CHC Healthcare Group (TPE:4164) is currently considered Possible Value Trap. The stock's GF Value™ is NT$52.32, compared to a current price of NT$26.05 — trading 50.2% below its estimated fair value. The current Beneish M-Score is -2.70. CHC Healthcare Group's overall GF Score™ is 76/100 with 8 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 CHC Healthcare Group (TPE:4164), the current Beneish M-Score is -2.70 as of Aug. 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 CHC Healthcare Group (TPE:4164) Overvalued in 2026?
Based on GuruFocus' analysis, CHC Healthcare Group stock appears to be undervalued.
The current stock price of NT$26.05 is trading 50.2% below its estimated GF Value™ of NT$52.32.
GuruFocus considers CHC Healthcare Group to be Possible Value Trap.
Key valuation signals for TPE:4164:
Beneish M-Score: -2.70
GF Value™: NT$52.32 vs. price of NT$26.05 (50.2% below fair value)
No single metric tells the full story. See the TPE:4164 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CHC Healthcare Group is a Taiwan-based company engaged in the trading of pharmaceutical products and health food, as well as the sale, leasing, installation, and repair of medical instruments. It is engaged in the distribution of radiotherapy equipment, including equipment used in radiation oncology, ophthalmology, dentistry, and neuroscience. It also provides medical equipment consulting for hospitals and clinics. It earns revenues from the sale of drugs, the sale of medical instruments, repairs, maintenance, and other services.
76GF Score
Get the complete analysis for TPE:4164
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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