Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Aero Win Technology's Beneish M-Score or its related term are showing as below:
TPE:8222'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.64 Med: -2.91 Max: -1.3
Current: -2.02
During the past 13 years, the highest Beneish M-Score of Aero Win Technology was -1.30. The lowest was -3.64. And the median was -2.91.
Aero Win Technology Beneish M-Score Related Terms
Aero Win Technology Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Aero Win 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.
TPE:8222 vs SPCX, GE, RTX: Beneish M-Score Comparison
For the Aerospace & Defense subindustry, Aero Win 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.
Aero Win Technology Beneish M-Score vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Aero Win Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aero Win Technology'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 Aero Win 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 * 1.2055
+
0.528 * 1.2137
+
0.404 * 0.9001
+
0.892 * 1.1661
+
0.115 * 0.8427
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8189
+
4.679 * 0.010498
-
0.327 * 1.0237
=
-2.02
* 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))
=
(72.043 / (72.043 + 1005.258))
/
(88.538 / (88.538 + 1027.191))
=
0.066874
/
0.079354
=
0.8427
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
=
(37.446 - 0
-
14.671)
/
2169.368
=
0.010498
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.
Aero Win Technology has a M-score of -2.02 suggests that the company is unlikely to be a manipulator.
Aero Win Technology (TPE:8222) has a Beneish M-Score of -2.02 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aero Win Technology and its competitors. According to the industry distribution chart, Aero Win Technology ranks #231 out of 326 companies in the Aerospace & Defense industry, placing it in the top 70.9%.
Is Aero Win Technology's Beneish M-Score too high?
Aero Win Technology's current Beneish M-Score is -2.02. Based on the distribution chart, Aero Win Technology ranks #231 out of 326 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Aero Win Technology has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Aero Win Technology's Beneish M-Score compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Aero Win Technology ranks #231 out of 326 companies for Beneish M-Score. This places Aero Win Technology 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 an Aerospace & Defense company?
A good Beneish M-Score depends on the Aerospace & Defense 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 Aero Win Technology and its competitors. Aero Win Technology's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aero Win Technology stock overvalued right now?
Based on GuruFocus' analysis, Aero Win Technology (TPE:8222) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$65.40, compared to a current price of NT$39.90 — trading 39% below its estimated fair value. The current Beneish M-Score is -2.02. Aero Win Technology's overall GF Score™ is 81/100 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 Aero Win Technology (TPE:8222), the current Beneish M-Score is -2.02 as of Jul. 23, 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 Aero Win Technology (TPE:8222) Overvalued in 2026?
Based on GuruFocus' analysis, Aero Win Technology stock appears to be undervalued.
The current stock price of NT$39.90 is trading 39% below its estimated GF Value™ of NT$65.40.
GuruFocus considers Aero Win Technology to be Significantly Undervalued.
Key valuation signals for TPE:8222:
Beneish M-Score: -2.02
GF Value™: NT$65.40 vs. price of NT$39.90 (39% below fair value)
No single metric tells the full story. See the TPE:8222 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aero Win Technology Corp mainly engaged in the manufacturing, repairing, and trading of various types of aviation and engine accessories and hardware tools, as well as the trading of various types of aviation alloy material and hardware. Additionally, the Company acts as an agent for domestic and foreign manufacturers in distribution, bidding, quoting, and various import and export trade activities. The company has single operating segment. The Company has no foreign operation. Its products are Oil Collecto; Plenum, Inlet Air; Rear Flange; Front Flange; Oil Cover Inlet; SAGB Casing; Bearing Support; Cooling Insert of vane; Brackets; Combustion Liner; Combustion Chamber Liner; Inner and Outer Rings for Stators; Flanges for Stator; Ring Assembly, Curvic; Inlet Housing; and Case, Diffuser.
81GF Score
Get the complete analysis for TPE:8222
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:8222 has been successfully added to your 
