Praise Victor Industry Co (TPE:7768) Beneish M-Score: 0.00 (As of Aug. 10, 2026)

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TPE:7768 Praise Victor Industry Co Ltd TPE:7768
16 GF Score
Price NT$257.00
! 3 Warning Signs
View Full Analysis

What is Praise Victor Industry Co Beneish M-Score?

Praise Victor Industry Co TPE:7768 -2.47% 16 Beneish M-Score is 0.00 as of Aug. 10, 2026. GuruFocus rates TPE:7768 with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 1,527 Chemicals companies, Praise Victor Industry Co ranks worse than 65487.82% 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.

The historical rank and industry rank for Praise Victor Industry Co's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Praise Victor Industry Co was -1.99. The lowest was -1.99. And the median was -1.99.

Praise Victor Industry Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Praise Victor Industry 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.

Praise Victor Industry Co Beneish M-Score Chart

Praise Victor Industry Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 -1.99

Praise Victor Industry Co Quarterly Data
Dec21 Dec22 Dec23 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 0.00 0.00 0.00 -1.99 0.00

TPE:7768 vs DOW: Beneish M-Score Comparison

For the Chemicals subindustry, Praise Victor Industry 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.

Praise Victor Industry Co Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Praise Victor Industry Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Praise Victor Industry Co's Beneish M-Score falls into.


TPE:7768
16GF Score
Praise Victor Industry Co Ltd TPE:7768
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Praise Victor Industry 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 Praise Victor Industry 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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$404 Mil.
Revenue was 558.892 + 470.152 + 491.828 + 539.59 = NT$2,060 Mil.
Gross Profit was 311.713 + 241.928 + 252.681 + 259.771 = NT$1,066 Mil.
Total Current Assets was NT$2,086 Mil.
Total Assets was NT$4,128 Mil.
Property, Plant and Equipment(Net PPE) was NT$1,904 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$109 Mil.
Selling, General, & Admin. Expense(SGA) was NT$536 Mil.
Total Current Liabilities was NT$1,128 Mil.
Long-Term Debt & Capital Lease Obligation was NT$962 Mil.
Net Income was 99.753 + 48.661 + 64.111 + 11.307 = NT$224 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was 13.95 + 99.25 + 95.156 + -14.265 = NT$194 Mil.
 Total Receivables was NT$0 Mil.
Revenue was 479.206 + 462.088 + 515.706 + 0 = NT$1,457 Mil.
Gross Profit was 254.193 + 224.224 + 242.208 + 0 = NT$721 Mil.
Total Current Assets was NT$0 Mil.
Total Assets was NT$0 Mil.
Property, Plant and Equipment(Net PPE) was NT$0 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$27 Mil.
Selling, General, & Admin. Expense(SGA) was NT$364 Mil.
Total Current Liabilities was NT$0 Mil.
Long-Term Debt & Capital Lease Obligation was NT$0 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)
=(404.108 / 2060.462) / (0 / 1457)
=0.196125 / 0
=

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)
=(720.625 / 1457) / (1066.093 / 2060.462)
=0.494595 / 0.517405
=

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 - (2086.244 + 1903.574) / 4128) / (1 - (0 + 0) / 0)
=0.033474 /
=

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
=2060.462 / 1457
=

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))
=(27.043 / (27.043 + 0)) / (109.302 / (109.302 + 1903.574))
=1 / 0.054301
=

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)
=(535.835 / 2060.462) / (363.693 / 1457)
=0.260056 / 0.249618
=

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)
=((961.855 + 1127.735) / 4128) / ((0 + 0) / 0)
=0.506199 /
=

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
=(223.832 - 0 - 194.091) / 4128
=0.007205

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Praise Victor Industry Co (TPE:7768) has a Beneish M-Score of 0.00 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Praise Victor Industry Co and its competitors. According to the industry distribution chart, Praise Victor Industry Co ranks #999999 out of 1527 companies in the Chemicals industry.
Is Praise Victor Industry Co's Beneish M-Score too high?
Praise Victor Industry Co's current Beneish M-Score is 0.00. Based on the distribution chart, Praise Victor Industry Co ranks #999999 out of 1527 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Praise Victor Industry Co has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Praise Victor Industry Co's Beneish M-Score compare to DOW?
According to the Chemicals industry distribution chart, Praise Victor Industry Co ranks #999999 out of 1527 companies for Beneish M-Score. This places Praise Victor Industry 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Praise Victor Industry Co and its competitors. Praise Victor Industry Co's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Praise Victor Industry Co stock overvalued right now?
Praise Victor Industry Co (TPE:7768) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Praise Victor Industry Co's overall GF Score™ is 16/100 with 3 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 Praise Victor Industry Co (TPE:7768), the current Beneish M-Score is 0.00 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.

Praise Victor Industry Co Business Description

Address No. 2, Gongyequ 14th Road, Xitun District, Taichung, TWN
Praise Victor Industry Co Ltd is engaged in the trading of chemical raw materials (PU foams) and manufacturing equipment. The group includes PU foam, PU elastomers, and PU adhesives applications. It is not only producing PU products but also help customers with solutions for PU product manufacturing. Its products are: Design and development of semiconductor consumables, Comfort and health products, Environmentally-friendly adhesives, PU casting products, Soft and rigid foam products, and Collaborative development of new products and development.
16GF Score

Get the complete analysis for TPE:7768

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

NT$257.00
Price