Flexium Interconnect (TPE:6269) Beneish M-Score: -0.75 (As of Jul. 14, 2026)

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TPE:6269 Flexium Interconnect Inc TPE:6269
79 GF Score
Price NT$60.00
GF Value NT$64.96
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Flexium Interconnect Beneish M-Score?

Flexium Interconnect TPE:6269 -0.96% 79 Beneish M-Score is -0.75 as of Jul. 14, 2026. GuruFocus rates TPE:6269 with a GF Score™ of 79/100 and a GF Value™ of NT$64.96 (Fairly Valued). The stock has 5 warning signs investors should review. Among 2,408 Hardware companies, Flexium Interconnect ranks worse than 94.02% 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.

Warning Sign:

Beneish M-Score -0.75 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TPE:6269' s Beneish M-Score Range Over the Past 10 Years
Min: -3.64   Med: -2.11   Max: -0.75
Current: -0.75

During the past 13 years, the highest Beneish M-Score of Flexium Interconnect was -0.75. The lowest was -3.64. And the median was -2.11.


Flexium Interconnect Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Flexium Interconnect'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.

Flexium Interconnect Beneish M-Score Chart

Flexium Interconnect 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 -2.78 -3.64 -2.08 -2.09 -0.75

Flexium Interconnect 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 -2.09 -1.27 -0.21 2.55 -0.75

TPE:6269 vs APH, GLW: Beneish M-Score Comparison

For the Electronic Components subindustry, Flexium Interconnect'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.


Flexium Interconnect Beneish M-Score vs Hardware Industry

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

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


TPE:6269
79GF Score
Flexium Interconnect Inc TPE:6269
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Flexium Interconnect 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 Flexium Interconnect 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 * 1.3014+0.528 * 4.3497+0.404 * 1.3394+0.892 * 0.8452+0.115 * 1.0151
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0567+4.679 * -0.060115-0.327 * 1.0819
=-0.75

* 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$4,243 Mil.
Revenue was 5586.159 + 6095.421 + 5497.157 + 5171.117 = NT$22,350 Mil.
Gross Profit was 56.776 + 82.154 + 129.21 + 27.223 = NT$295 Mil.
Total Current Assets was NT$17,908 Mil.
Total Assets was NT$36,178 Mil.
Property, Plant and Equipment(Net PPE) was NT$14,285 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$2,664 Mil.
Selling, General, & Admin. Expense(SGA) was NT$1,043 Mil.
Total Current Liabilities was NT$7,710 Mil.
Long-Term Debt & Capital Lease Obligation was NT$3,784 Mil.
Net Income was -595.142 + -611.435 + -455.394 + -566.867 = NT$-2,229 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was -256.594 + -106.154 + 78.497 + 230.223 = NT$-54 Mil.
Total Receivables was NT$3,857 Mil.
Revenue was 5673.868 + 6416.043 + 7565.466 + 6788.405 = NT$26,444 Mil.
Gross Profit was -33.15 + 334.375 + 617.862 + 600.918 = NT$1,520 Mil.
Total Current Assets was NT$19,103 Mil.
Total Assets was NT$38,594 Mil.
Property, Plant and Equipment(Net PPE) was NT$16,317 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$3,098 Mil.
Selling, General, & Admin. Expense(SGA) was NT$1,168 Mil.
Total Current Liabilities was NT$7,180 Mil.
Long-Term Debt & Capital Lease Obligation was NT$4,154 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)
=(4242.605 / 22349.854) / (3857.256 / 26443.782)
=0.189827 / 0.145866
=1.3014

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)
=(1520.005 / 26443.782) / (295.363 / 22349.854)
=0.057481 / 0.013215
=4.3497

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 - (17908.288 + 14284.998) / 36177.714) / (1 - (19103.442 + 16317.239) / 38594.126)
=0.110135 / 0.082226
=1.3394

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
=22349.854 / 26443.782
=0.8452

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))
=(3097.942 / (3097.942 + 16317.239)) / (2664.206 / (2664.206 + 14284.998))
=0.159563 / 0.157188
=1.0151

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)
=(1043.437 / 22349.854) / (1168.351 / 26443.782)
=0.046687 / 0.044182
=1.0567

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)
=((3783.714 + 7710.088) / 36177.714) / ((4153.555 + 7180.072) / 38594.126)
=0.317704 / 0.293662
=1.0819

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
=(-2228.838 - 0 - -54.028) / 36177.714
=-0.060115

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.

Flexium Interconnect has a M-score of -0.75 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -0.75 mean?
Flexium Interconnect (TPE:6269) has a Beneish M-Score of -0.75 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Flexium Interconnect and its competitors. According to the industry distribution chart, Flexium Interconnect ranks #2264 out of 2408 companies in the Hardware industry, placing it in the top 94%.
Is Flexium Interconnect's Beneish M-Score too high?
Flexium Interconnect's current Beneish M-Score is -0.75. Based on the distribution chart, Flexium Interconnect ranks #2264 out of 2408 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Flexium Interconnect has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Flexium Interconnect's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Flexium Interconnect ranks #2264 out of 2408 companies for Beneish M-Score. This places Flexium Interconnect 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 Flexium Interconnect and its competitors. Flexium Interconnect's current Beneish M-Score is -0.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flexium Interconnect stock overvalued right now?
Based on GuruFocus' analysis, Flexium Interconnect (TPE:6269) is currently considered Fairly Valued. The stock's GF Value™ is NT$64.96, compared to a current price of NT$60.00 — trading 7.6% below its estimated fair value. The current Beneish M-Score is -0.75. Flexium Interconnect's overall GF Score™ is 79/100 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 Flexium Interconnect (TPE:6269), the current Beneish M-Score is -0.75 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 Flexium Interconnect (TPE:6269) Overvalued in 2026?

Based on GuruFocus' analysis, Flexium Interconnect stock appears to be undervalued. The current stock price of NT$60.00 is trading 7.6% below its estimated GF Value™ of NT$64.96. GuruFocus considers Flexium Interconnect to be Fairly Valued.

Key valuation signals for TPE:6269:

  • Beneish M-Score: -0.75
  • GF Value™: NT$64.96 vs. price of NT$60.00 (7.6% below fair value)
  • GF Score™: 79/100 with 5 warning signs

No single metric tells the full story. See the TPE:6269 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Flexium Interconnect Business Description

Address No. 1, Shangfa 5th Road, Hofa Industrial Park, Daliao District, Kaohsiung, TWN, 831132
Flexium Interconnect Inc is a manufacturer of copper-clad laminate and Flexible Printed Circuit Boards (FPC). Along with its subsidiaries, the company's reportable segments are the printed circuit board segment and other. A majority of its revenue is generated from the printed circuit board segment, which is engaged in the manufacturing, research and development, and trading of flexible printed circuit boards and other related products. The Other segment is engaged in the research, design, manufacturing, and sales of existing related products for radio frequency integrated circuits and integrated video systems. Geographically, the group derives maximum revenue from Europe and America, followed by China, Taiwan, and Asia (excluding Taiwan and China).
79GF Score

Get the complete analysis for TPE:6269

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

NT$60.00
Price
NT$64.96
GF Value