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 -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for WW Holding's Beneish M-Score or its related term are showing as below:
TPE:8442'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.55 Med: -2.36 Max: -1.4
Current: -2.16
During the past 13 years, the highest Beneish M-Score of WW Holding was -1.40. The lowest was -3.55. And the median was -2.36.
WW Holding Beneish M-Score Related Terms
WW Holding Beneish M-Score Historical Data
* Premium members only.
The historical data trend for WW Holding'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:8442 vs AS, HAS, LTH: Beneish M-Score Comparison
For the Leisure subindustry, WW Holding'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.
WW Holding Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, WW Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WW Holding'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 WW Holding 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 * 1.2157
+
0.528 * 1.0978
+
0.404 * 0.8668
+
0.892 * 0.9715
+
0.115 * 1.0169
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.063
+
4.679 * 0.035483
-
0.327 * 1.0377
=
-2.16
* 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))
=
(279.284 / (279.284 + 1426.632))
/
(268.446 / (268.446 + 1398.982))
=
0.163715
/
0.160994
=
1.0169
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
=
(287.109 - 0
-
38.148)
/
7016.374
=
0.035483
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.
WW Holding has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.
WW Holding (TPE:8442) has a Beneish M-Score of -2.16 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on WW Holding and its competitors. According to the industry distribution chart, WW Holding ranks #635 out of 818 companies in the Travel & Leisure industry, placing it in the top 77.6%.
Is WW Holding's Beneish M-Score too high?
WW Holding's current Beneish M-Score is -2.16. Based on the distribution chart, WW Holding ranks #635 out of 818 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, WW Holding has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WW Holding's Beneish M-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, WW Holding ranks #635 out of 818 companies for Beneish M-Score. This places WW Holding 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 WW Holding and its competitors. WW Holding's current Beneish M-Score is -2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WW Holding stock overvalued right now?
Based on GuruFocus' analysis, WW Holding (TPE:8442) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$79.69, compared to a current price of NT$46.25 — trading 42% below its estimated fair value. The current Beneish M-Score is -2.16. WW Holding's overall GF Score™ is 78/100 with 4 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 WW Holding (TPE:8442), the current Beneish M-Score is -2.16 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.
Is WW Holding (TPE:8442) Overvalued in 2026?
Based on GuruFocus' analysis, WW Holding stock appears to be undervalued.
The current stock price of NT$46.25 is trading 42% below its estimated GF Value™ of NT$79.69.
GuruFocus considers WW Holding to be Significantly Undervalued.
Key valuation signals for TPE:8442:
Beneish M-Score: -2.16
GF Value™: NT$79.69 vs. price of NT$46.25 (42% below fair value)
No single metric tells the full story. See the TPE:8442 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WW Holding Inc is engaged in the manufacturing and selling of sports equipment and other accessories. The company's operating segments include the Sports Equipment Business and the Luxury Bag Business. It generates maximum revenue from the Sports Equipment Business segment. Geographically, it derives a majority of its revenue from the United States and also has a presence in Belgium, Spain, Mainland China, France, Germany, and Other Countries. The revenue from products and services includes leather bags, backpacks, luggage, commercial bags, and relevant accessories.
78GF Score
Get the complete analysis for TPE:8442
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:8442 has been successfully added to your 
