CyCraft Technology (TPE:7823) Beneish M-Score: -3.40 (As of Jul. 09, 2026)


TPE:7823 CyCraft Technology Corp TPE:7823
14 GF Score
Price NT$88.80
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What is CyCraft Technology Beneish M-Score?

CyCraft Technology TPE:7823 +5.97% 14 Beneish M-Score is -3.40 as of Jul. 09, 2026. GuruFocus rates TPE:7823 with a GF Score™ of 14/100. Among 2,627 Software companies, CyCraft Technology ranks better than 86.49% 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 -3.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TPE:7823' s Beneish M-Score Range Over the Past 10 Years
Min: -3.4   Med: -2.96   Max: -2.52
Current: -3.4

During the past 4 years, the highest Beneish M-Score of CyCraft Technology was -2.52. The lowest was -3.40. And the median was -2.96.

CyCraft Technology Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CyCraft 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.

CyCraft Technology Beneish M-Score Chart

CyCraft Technology Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.52 -3.40

CyCraft Technology Quarterly Data
Dec22 Dec23 Sep24 Dec24 Sep25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.52 0.00 -3.40

TPE:7823 vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, CyCraft 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.

CyCraft Technology Beneish M-Score vs Software Industry

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

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


TPE:7823
14GF Score
CyCraft Technology Corp TPE:7823
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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CyCraft Technology 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 CyCraft 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 * 0.4611+0.528 * 1.0912+0.404 * 0.7584+0.892 * 1.2272+0.115 * 0.7755
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.09+4.679 * -0.131266-0.327 * 0.7699
=-3.40

* 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$38.5 Mil.
Revenue was NT$368.8 Mil.
Gross Profit was NT$300.2 Mil.
Total Current Assets was NT$541.3 Mil.
Total Assets was NT$600.8 Mil.
Property, Plant and Equipment(Net PPE) was NT$44.6 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$24.6 Mil.
Selling, General, & Admin. Expense(SGA) was NT$219.4 Mil.
Total Current Liabilities was NT$250.8 Mil.
Long-Term Debt & Capital Lease Obligation was NT$10.8 Mil.
Net Income was NT$-46.2 Mil.
Gross Profit was NT$0.0 Mil.
Cash Flow from Operations was NT$32.7 Mil.
 Total Receivables was NT$68.0 Mil.
Revenue was NT$300.6 Mil.
Gross Profit was NT$266.9 Mil.
Total Current Assets was NT$360.4 Mil.
Total Assets was NT$431.9 Mil.
Property, Plant and Equipment(Net PPE) was NT$57.3 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$21.8 Mil.
Selling, General, & Admin. Expense(SGA) was NT$164.0 Mil.
Total Current Liabilities was NT$214.6 Mil.
Long-Term Debt & Capital Lease Obligation was NT$29.7 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)
=(38.45 / 368.829) / (67.954 / 300.55)
=0.104249 / 0.226099
=0.4611

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)
=(266.888 / 300.55) / (300.156 / 368.829)
=0.887999 / 0.813808
=1.0912

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 - (541.33 + 44.552) / 600.824) / (1 - (360.43 + 57.259) / 431.85)
=0.024869 / 0.032791
=0.7584

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
=368.829 / 300.55
=1.2272

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))
=(21.849 / (21.849 + 57.259)) / (24.645 / (24.645 + 44.552))
=0.276192 / 0.356157
=0.7755

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)
=(219.423 / 368.829) / (164.034 / 300.55)
=0.594918 / 0.545779
=1.09

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)
=((10.782 + 250.828) / 600.824) / ((29.673 + 214.558) / 431.85)
=0.435419 / 0.565546
=0.7699

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
=(-46.185 - 0 - 32.683) / 600.824
=-0.131266

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.

CyCraft Technology has a M-score of -3.40 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 -3.40 mean?
CyCraft Technology (TPE:7823) has a Beneish M-Score of -3.40 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CyCraft Technology and its competitors. According to the industry distribution chart, CyCraft Technology ranks #355 out of 2627 companies in the Software industry, placing it in the top 13.5%.
Is CyCraft Technology's Beneish M-Score too high?
CyCraft Technology's current Beneish M-Score is -3.40. Based on the distribution chart, CyCraft Technology ranks #355 out of 2627 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, CyCraft Technology has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does CyCraft Technology's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, CyCraft Technology ranks #355 out of 2627 companies for Beneish M-Score. This places CyCraft Technology in the top 14% of its industry — outperforming the majority of peers. 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 Software company?
A good Beneish M-Score depends on the Software 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 CyCraft Technology and its competitors. CyCraft Technology's current Beneish M-Score is -3.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CyCraft Technology stock overvalued right now?
CyCraft Technology (TPE:7823) has a current Beneish M-Score of -3.40. The current Beneish M-Score is -3.40. CyCraft Technology's overall GF Score™ is 14/100. 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 CyCraft Technology (TPE:7823), the current Beneish M-Score is -3.40 as of Jul. 09, 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.

CyCraft Technology Business Description

Address No. 1, Yuandong Road, 6 Floor, Banqiao District, New Taipei City, TWN, 220056
CyCraft Technology Corpa is mainly engaged in general investment activities, the sale of information system software, and consulting services. The company operates in Single segment. The company generates majority of revenue from Taiwan followed by Others. Its solutions are eXtended Attack Surface Management, CyCraft Guards Trustworthy LLMs, SEMI E187 Assessment Tool, AI Red Teaming Security Assessment.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$88.80
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