Ever Ohms Technology Co (TPE:6834) Beneish M-Score: -2.39 (As of Aug. 10, 2026)

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TPE:6834 Ever Ohms Technology Co Ltd TPE:6834
60 GF Score
Price NT$96.60
GF Value NT$40.08
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Ever Ohms Technology Co Beneish M-Score?

Ever Ohms Technology Co TPE:6834 +9.90% 60 Beneish M-Score is -2.39 as of Aug. 10, 2026. GuruFocus rates TPE:6834 with a GF Score™ of 60/100 and a GF Value™ of NT$40.08 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 2,400 Hardware companies, Ever Ohms Technology Co ranks worse than 54.88% 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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ever Ohms Technology Co's Beneish M-Score or its related term are showing as below:

TPE:6834' s Beneish M-Score Range Over the Past 10 Years
Min: -3.09   Med: -2.61   Max: 1.49
Current: -2.39

During the past 9 years, the highest Beneish M-Score of Ever Ohms Technology Co was 1.49. The lowest was -3.09. And the median was -2.61.


Ever Ohms Technology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ever Ohms Technology Co'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.

Ever Ohms Technology Co Beneish M-Score Chart

Ever Ohms Technology Co Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only 0.00 -3.09 1.49 -2.78 -2.61

Ever Ohms Technology Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -2.79 -2.90 -2.81 -2.61 -2.39

TPE:6834 vs APH, GLW, TEL: Beneish M-Score Comparison

For the Electronic Components subindustry, Ever Ohms Technology Co'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.


Ever Ohms Technology Co Beneish M-Score vs Hardware Industry

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

* The bar in red indicates where Ever Ohms Technology Co's Beneish M-Score falls into.


TPE:6834
60GF Score
Ever Ohms Technology Co Ltd TPE:6834
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ever Ohms Technology Co 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 Ever Ohms Technology Co 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 * 1.1012+0.528 * 1.072+0.404 * 1.0354+0.892 * 1.1011+0.115 * 0.9606
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.972+4.679 * -0.021544-0.327 * 1.1277
=-2.39

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was NT$532 Mil.
Revenue was 419.741 + 330.64 + 365.385 + 384.173 = NT$1,500 Mil.
Gross Profit was 96.728 + 54.021 + 58.915 + 68.93 = NT$279 Mil.
Total Current Assets was NT$1,335 Mil.
Total Assets was NT$2,353 Mil.
Property, Plant and Equipment(Net PPE) was NT$804 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$171 Mil.
Selling, General, & Admin. Expense(SGA) was NT$182 Mil.
Total Current Liabilities was NT$866 Mil.
Long-Term Debt & Capital Lease Obligation was NT$17 Mil.
Net Income was 39.73 + 22.885 + 39.559 + -47.834 = NT$54 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was 35.404 + 59.594 + 36.551 + -26.52 = NT$105 Mil.
Total Receivables was NT$439 Mil.
Revenue was 350.685 + 331.212 + 347.52 + 332.836 = NT$1,362 Mil.
Gross Profit was 74.33 + 52.84 + 71.062 + 72.996 = NT$271 Mil.
Total Current Assets was NT$1,184 Mil.
Total Assets was NT$2,232 Mil.
Property, Plant and Equipment(Net PPE) was NT$853 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$173 Mil.
Selling, General, & Admin. Expense(SGA) was NT$170 Mil.
Total Current Liabilities was NT$725 Mil.
Long-Term Debt & Capital Lease Obligation was NT$18 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)
=(532.352 / 1499.939) / (439.043 / 1362.253)
=0.354916 / 0.322292
=1.1012

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)
=(271.228 / 1362.253) / (278.594 / 1499.939)
=0.199103 / 0.185737
=1.072

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 - (1334.874 + 804.33) / 2352.81) / (1 - (1183.83 + 852.908) / 2232.497)
=0.090788 / 0.087686
=1.0354

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
=1499.939 / 1362.253
=1.1011

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))
=(173.072 / (173.072 + 852.908)) / (171.34 / (171.34 + 804.33))
=0.168689 / 0.175613
=0.9606

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)
=(181.781 / 1499.939) / (169.856 / 1362.253)
=0.121192 / 0.124688
=0.972

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)
=((16.589 + 865.895) / 2352.81) / ((17.834 + 724.691) / 2232.497)
=0.375077 / 0.332598
=1.1277

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
=(54.34 - 0 - 105.029) / 2352.81
=-0.021544

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.

Ever Ohms Technology Co has a M-score of -2.39 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 -2.39 mean?
Ever Ohms Technology Co (TPE:6834) has a Beneish M-Score of -2.39 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ever Ohms Technology Co and its competitors. According to the industry distribution chart, Ever Ohms Technology Co ranks #1317 out of 2400 companies in the Hardware industry, placing it in the top 54.9%.
Is Ever Ohms Technology Co's Beneish M-Score too high?
Ever Ohms Technology Co's current Beneish M-Score is -2.39. Based on the distribution chart, Ever Ohms Technology Co ranks #1317 out of 2400 companies in the Hardware industry, which is below the industry midpoint. Overall, Ever Ohms Technology Co has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ever Ohms Technology Co's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Ever Ohms Technology Co ranks #1317 out of 2400 companies for Beneish M-Score. This places Ever Ohms Technology Co 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 Ever Ohms Technology Co and its competitors. Ever Ohms Technology Co's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ever Ohms Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Ever Ohms Technology Co (TPE:6834) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$40.08, compared to a current price of NT$96.60 — trading 141% above its estimated fair value. The current Beneish M-Score is -2.39. Ever Ohms Technology Co's overall GF Score™ is 60/100 with 6 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 Ever Ohms Technology Co (TPE:6834), the current Beneish M-Score is -2.39 as of Aug. 10, 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 Ever Ohms Technology Co (TPE:6834) Overvalued in 2026?

Based on GuruFocus' analysis, Ever Ohms Technology Co stock appears to be overvalued. The current stock price of NT$96.60 is trading 141% above its estimated GF Value™ of NT$40.08. GuruFocus considers Ever Ohms Technology Co to be Significantly Overvalued.

Key valuation signals for TPE:6834:

  • Beneish M-Score: -2.39
  • GF Value™: NT$40.08 vs. price of NT$96.60 (141% above fair value)
  • GF Score™: 60/100 with 6 warning signs

No single metric tells the full story. See the TPE:6834 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ever Ohms Technology Co Business Description

Address No. 3, South 4th Road, Qianzhen District, Kaohsiung, TWN, 80681
Ever Ohms Technology Co Ltd mainly operates the businesses of research and development, manufacturing, and sales of various thick-film resistors, thin-film resistors, and metal-plate resistors. The company generates a majority of its revenue from Taiwan and the rest from China.
60GF Score

Get the complete analysis for TPE:6834

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

NT$96.60
Price
NT$40.08
GF Value