AEXAY (Atos Group) Beneish M-Score: -4.17 (As of Jun. 25, 2026)


AEXAY Atos Group AEXAY
50 GF Score
Price $9.08
GF Value $3.51
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Atos Group Beneish M-Score?

Atos Group AEXAY 50 Beneish M-Score is -4.17 as of Jun. 25, 2026. GuruFocus rates AEXAY with a GF Score™ of 50/100 and a GF Value™ of $3.51 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,633 Software companies, Atos Group ranks better than 92.78% 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 -4.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

AEXAY' s Beneish M-Score Range Over the Past 10 Years
Min: -4.17   Med: -2.76   Max: -1.8
Current: -4.17

During the past 13 years, the highest Beneish M-Score of Atos Group was -1.80. The lowest was -4.17. And the median was -2.76.

Atos Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Atos Group'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.

Atos Group Beneish M-Score Chart

Atos Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.52 -2.84 -4.00 -1.80 -4.17

Atos Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -4.00 0.00 -1.80 0.00 -4.17

AEXAY vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Atos Group'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.

Atos Group Beneish M-Score vs Software Industry

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

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


AEXAY
50GF Score
Atos Group AEXAY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Atos Group 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 Atos Group 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 * 0.8552+0.528 * 0.8664+0.404 * 0.9184+0.892 * 0.9342+0.115 * 0.7265
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8056+4.679 * -0.259886-0.327 * 1.2774
=-4.08

* 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 $2,215 Mil.
Revenue was $9,369 Mil.
Gross Profit was $3,636 Mil.
Total Current Assets was $5,664 Mil.
Total Assets was $7,403 Mil.
Property, Plant and Equipment(Net PPE) was $646 Mil.
Depreciation, Depletion and Amortization(DDA) was $550 Mil.
Selling, General, & Admin. Expense(SGA) was $333 Mil.
Total Current Liabilities was $4,146 Mil.
Long-Term Debt & Capital Lease Obligation was $3,019 Mil.
Net Income was $-1,644 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $280 Mil.
 Total Receivables was $2,773 Mil.
Revenue was $10,028 Mil.
Gross Profit was $3,372 Mil.
Total Current Assets was $6,062 Mil.
Total Assets was $8,635 Mil.
Property, Plant and Equipment(Net PPE) was $1,185 Mil.
Depreciation, Depletion and Amortization(DDA) was $595 Mil.
Selling, General, & Admin. Expense(SGA) was $442 Mil.
Total Current Liabilities was $3,834 Mil.
Long-Term Debt & Capital Lease Obligation was $2,709 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)
=(2215.457 / 9368.852) / (2772.775 / 10028.272)
=0.23647 / 0.276496
=0.8552

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)
=(3371.728 / 10028.272) / (3635.831 / 9368.852)
=0.336222 / 0.388076
=0.8664

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 - (5663.934 + 646.37) / 7402.81) / (1 - (6061.78 + 1185.34) / 8634.555)
=0.14758 / 0.160684
=0.9184

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
=9368.852 / 10028.272
=0.9342

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))
=(594.764 / (594.764 + 1185.34)) / (550.351 / (550.351 + 646.37))
=0.334118 / 0.459882
=0.7265

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)
=(332.553 / 9368.852) / (441.885 / 10028.272)
=0.035496 / 0.044064
=0.8056

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)
=((3018.735 + 4146.37) / 7402.81) / ((2708.901 + 3833.508) / 8634.555)
=0.96789 / 0.757701
=1.2774

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
=(-1644.028 - 0 - 279.859) / 7402.81
=-0.259886

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.

Atos Group has a M-score of -4.08 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 -4.17 mean?
Atos Group (AEXAY) has a Beneish M-Score of -4.17 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Atos Group and its competitors. According to the industry distribution chart, Atos Group ranks #190 out of 2633 companies in the Software industry, placing it in the top 7.2%.
Is Atos Group's Beneish M-Score too high?
Atos Group's current Beneish M-Score is -4.17. Based on the distribution chart, Atos Group ranks #190 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Atos Group has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Atos Group's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Atos Group ranks #190 out of 2633 companies for Beneish M-Score. This places Atos Group in the top 7% 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 Atos Group and its competitors. Atos Group's current Beneish M-Score is -4.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atos Group stock overvalued right now?
Based on GuruFocus' analysis, Atos Group (AEXAY) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.51, compared to a current price of $9.08 — trading 158.7% above its estimated fair value. The current Beneish M-Score is -4.17. Atos Group's overall GF Score™ is 50/100 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 Atos Group (AEXAY), the current Beneish M-Score is -4.17 as of Jun. 25, 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 Atos Group (AEXAY) Overvalued in 2026?

Based on GuruFocus' analysis, Atos Group stock appears to be overvalued. The current stock price of $9.08 is trading 158.7% above its estimated GF Value™ of $3.51. GuruFocus considers Atos Group to be Significantly Overvalued.

Key valuation signals for AEXAY:

  • Beneish M-Score: -4.17
  • GF Value™: $3.51 vs. price of $9.08 (158.7% above fair value)
  • GF Score™: 50/100 with 4 warning signs

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

Atos Group Business Description

Address River Ouest, 80 Quai Voltaire, Bezons Cedex, Paris, FRA, 95870
Atos Group is a digital transformation company. It provides digital transformation and technology services. The company's offerings include the development and implementation of AI-enabled digital solutions, as well as related technology, integration, and support services for organizations.
50GF Score

Get the complete analysis for AEXAY

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

$9.08
Price
$3.51
GF Value