AMADF (Amadeus IT Group) Beneish M-Score: -2.83 (As of Jun. 24, 2026)


AMADF Amadeus IT Group SA AMADF
85 GF Score
Price $58.55
GF Value $89.20
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Amadeus IT Group Beneish M-Score?

Amadeus IT Group AMADF -1.84% 85 Beneish M-Score is -2.83 as of Jun. 24, 2026. GuruFocus rates AMADF with a GF Score™ of 85/100 and a GF Value™ of $89.20 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 2,633 Software companies, Amadeus IT Group ranks better than 69.5% 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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

AMADF' s Beneish M-Score Range Over the Past 10 Years
Min: -3   Med: -2.68   Max: -1.16
Current: -2.83

During the past 13 years, the highest Beneish M-Score of Amadeus IT Group was -1.16. The lowest was -3.00. And the median was -2.68.

Amadeus IT Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Amadeus IT 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.

Amadeus IT Group Beneish M-Score Chart

Amadeus IT 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 -3.00 -2.48 -2.60 -2.64 -2.83

Amadeus IT Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 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 0.00 0.00 0.00 -2.83 0.00

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

For the Information Technology Services subindustry, Amadeus IT 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.

Amadeus IT Group Beneish M-Score vs Software Industry

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

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


AMADF
85GF Score
Amadeus IT Group SA AMADF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Amadeus IT 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 Amadeus IT 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 * 0.9627+0.528 * 0.9824+0.404 * 1.0077+0.892 * 1.1866+0.115 * 0.9553
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.075426-0.327 * 1.0208
=-2.72

* 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 $1,009 Mil.
Revenue was $7,631 Mil.
Gross Profit was $3,358 Mil.
Total Current Assets was $2,904 Mil.
Total Assets was $13,432 Mil.
Property, Plant and Equipment(Net PPE) was $445 Mil.
Depreciation, Depletion and Amortization(DDA) was $861 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $3,551 Mil.
Long-Term Debt & Capital Lease Obligation was $2,974 Mil.
Net Income was $1,564 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $2,577 Mil.
 Total Receivables was $883 Mil.
Revenue was $6,431 Mil.
Gross Profit was $2,780 Mil.
Total Current Assets was $2,716 Mil.
Total Assets was $12,340 Mil.
Property, Plant and Equipment(Net PPE) was $431 Mil.
Depreciation, Depletion and Amortization(DDA) was $733 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $3,179 Mil.
Long-Term Debt & Capital Lease Obligation was $2,693 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)
=(1009.251 / 7631.148) / (883.455 / 6431.099)
=0.132254 / 0.137372
=0.9627

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)
=(2780.105 / 6431.099) / (3357.845 / 7631.148)
=0.432291 / 0.440018
=0.9824

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 - (2903.513 + 444.848) / 13431.967) / (1 - (2716.126 + 430.995) / 12339.581)
=0.750717 / 0.744957
=1.0077

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
=7631.148 / 6431.099
=1.1866

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))
=(733.194 / (733.194 + 430.995)) / (860.656 / (860.656 + 444.848))
=0.629789 / 0.659252
=0.9553

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)
=(0 / 7631.148) / (0 / 6431.099)
=0 / 0
=1

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)
=((2973.653 + 3551.171) / 13431.967) / ((2692.984 + 3179.058) / 12339.581)
=0.485768 / 0.47587
=1.0208

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
=(1564.052 - 0 - 2577.166) / 13431.967
=-0.075426

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.

Amadeus IT Group has a M-score of -2.72 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 -2.83 mean?
Amadeus IT Group (AMADF) has a Beneish M-Score of -2.83 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Amadeus IT Group and its competitors. According to the industry distribution chart, Amadeus IT Group ranks #803 out of 2633 companies in the Software industry, placing it in the top 30.5%.
Is Amadeus IT Group's Beneish M-Score too high?
Amadeus IT Group's current Beneish M-Score is -2.83. Based on the distribution chart, Amadeus IT Group ranks #803 out of 2633 companies in the Software industry, which is above the industry midpoint. Overall, Amadeus IT Group has a GF Score™ of 85/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Amadeus IT Group's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Amadeus IT Group ranks #803 out of 2633 companies for Beneish M-Score. This puts Amadeus IT Group in the upper 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 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 Amadeus IT Group and its competitors. Amadeus IT Group's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amadeus IT Group stock overvalued right now?
Based on GuruFocus' analysis, Amadeus IT Group (AMADF) is currently considered Significantly Undervalued. The stock's GF Value™ is $89.20, compared to a current price of $58.55 — trading 34.4% below its estimated fair value. The current Beneish M-Score is -2.83. Amadeus IT Group's overall GF Score™ is 85/100 with 2 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 Amadeus IT Group (AMADF), the current Beneish M-Score is -2.83 as of Jun. 24, 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 Amadeus IT Group (AMADF) Overvalued in 2026?

Based on GuruFocus' analysis, Amadeus IT Group stock appears to be undervalued. The current stock price of $58.55 is trading 34.4% below its estimated GF Value™ of $89.20. GuruFocus considers Amadeus IT Group to be Significantly Undervalued.

Key valuation signals for AMADF:

  • Beneish M-Score: -2.83
  • GF Value™: $89.20 vs. price of $58.55 (34.4% below fair value)
  • GF Score™: 85/100 with 2 warning signs

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

Amadeus IT Group Business Description

Address Salvador de Madariaga, 1, Madrid, ESP, 28027
Founded in 1987 by four major European airline carriers (Air France, Lufthansa, Iberia, and SAS), Amadeus became the world's second global distribution system operator, or GDS, after Sabre's development in the 1960s and 1970s. Today, among the top three GDS operators that control nearly 100% of industry sales, Amadeus' 40%-50% market share ranks as the largest. Overall, Amadeus' GDS segment represented 48% of total in 2025. Moreover, the company has an expanding IT solutions division (52% of 2025 revenue) that addresses the airline, airport, rail, hotel, and travel agency markets. Transaction fees, which are tied to volume and not price, account for the bulk of consolidated sales and profits.
85GF Score

Get the complete analysis for AMADF

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

$58.55
Price
$89.20
GF Value