Ventia Services Group (ASX:VNT) Beneish M-Score: -3.26 (As of Jul. 10, 2026)


ASX:VNT Ventia Services Group Ltd ASX:VNT
62 GF Score
Price A$5.95
GF Value A$4.34
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Ventia Services Group Beneish M-Score?

Ventia Services Group ASX:VNT +1.36% 62 Beneish M-Score is -3.26 as of Jul. 10, 2026. GuruFocus rates ASX:VNT with a GF Score™ of 62/100 and a GF Value™ of A$4.34 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,700 Construction companies, Ventia Services Group ranks better than 89.06% 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 -3.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:VNT' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26   Med: -2.72   Max: -2.56
Current: -3.26

During the past 5 years, the highest Beneish M-Score of Ventia Services Group was -2.56. The lowest was -3.26. And the median was -2.72.

Ventia Services Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ventia Services 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.

Ventia Services Group Beneish M-Score Chart

Ventia Services Group Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.56 -2.72 -3.26

Ventia Services Group Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -2.56 0.00 -2.72 0.00 -3.26

Ventia Services Group Beneish M-Score Competitor Comparison

For the Infrastructure Operations subindustry, Ventia Services 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.

Ventia Services Group Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Ventia Services Group's Beneish M-Score distribution charts can be found below:

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


ASX:VNT
62GF Score
Ventia Services Group Ltd ASX:VNT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ventia Services 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 Ventia Services 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 * 0.3478+0.528 * 0.9969+0.404 * 1.0197+0.892 * 1.0058+0.115 * 1.2914
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0008+4.679 * -0.045721-0.327 * 1.0399
=-3.26

* 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 A$287 Mil.
Revenue was A$6,141 Mil.
Gross Profit was A$5,709 Mil.
Total Current Assets was A$1,189 Mil.
Total Assets was A$2,902 Mil.
Property, Plant and Equipment(Net PPE) was A$365 Mil.
Depreciation, Depletion and Amortization(DDA) was A$121 Mil.
Selling, General, & Admin. Expense(SGA) was A$4,970 Mil.
Total Current Liabilities was A$1,225 Mil.
Long-Term Debt & Capital Lease Obligation was A$882 Mil.
Net Income was A$272 Mil.
Gross Profit was A$26 Mil.
Cash Flow from Operations was A$379 Mil.
 Total Receivables was A$821 Mil.
Revenue was A$6,106 Mil.
Gross Profit was A$5,659 Mil.
Total Current Assets was A$1,310 Mil.
Total Assets was A$2,942 Mil.
Property, Plant and Equipment(Net PPE) was A$292 Mil.
Depreciation, Depletion and Amortization(DDA) was A$139 Mil.
Selling, General, & Admin. Expense(SGA) was A$4,937 Mil.
Total Current Liabilities was A$1,213 Mil.
Long-Term Debt & Capital Lease Obligation was A$841 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)
=(287.1 / 6141.1) / (820.6 / 6105.5)
=0.046751 / 0.134403
=0.3478

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)
=(5658.5 / 6105.5) / (5709.4 / 6141.1)
=0.926787 / 0.929703
=0.9969

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 - (1188.8 + 364.8) / 2902.4) / (1 - (1309.6 + 291.5) / 2941.8)
=0.464719 / 0.455741
=1.0197

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
=6141.1 / 6105.5
=1.0058

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))
=(138.6 / (138.6 + 291.5)) / (121.3 / (121.3 + 364.8))
=0.322251 / 0.249537
=1.2914

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)
=(4970 / 6141.1) / (4937.2 / 6105.5)
=0.809301 / 0.808648
=1.0008

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)
=((882.3 + 1224.7) / 2902.4) / ((840.8 + 1212.8) / 2941.8)
=0.725951 / 0.698076
=1.0399

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
=(272.2 - 26 - 378.9) / 2902.4
=-0.045721

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.

Ventia Services Group has a M-score of -3.26 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 -3.26 mean?
Ventia Services Group (ASX:VNT) has a Beneish M-Score of -3.26 as of Jul. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ventia Services Group and its competitors. According to the industry distribution chart, Ventia Services Group ranks #186 out of 1700 companies in the Construction industry, placing it in the top 10.9%.
Is Ventia Services Group's Beneish M-Score too high?
Ventia Services Group's current Beneish M-Score is -3.26. Based on the distribution chart, Ventia Services Group ranks #186 out of 1700 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Ventia Services Group has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ventia Services Group's Beneish M-Score compare to competitors?
According to the Construction industry distribution chart, Ventia Services Group ranks #186 out of 1700 companies for Beneish M-Score. This places Ventia Services Group in the top 11% 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Ventia Services Group and its competitors. Ventia Services Group's current Beneish M-Score is -3.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ventia Services Group stock overvalued right now?
Based on GuruFocus' analysis, Ventia Services Group (ASX:VNT) is currently considered Significantly Overvalued. The stock's GF Value™ is A$4.34, compared to a current price of A$5.95 — trading 37.1% above its estimated fair value. The current Beneish M-Score is -3.26. Ventia Services Group's overall GF Score™ is 62/100 with 3 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 Ventia Services Group (ASX:VNT), the current Beneish M-Score is -3.26 as of Jul. 10, 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 Ventia Services Group (ASX:VNT) Overvalued in 2026?

Based on GuruFocus' analysis, Ventia Services Group stock appears to be overvalued. The current stock price of A$5.95 is trading 37.1% above its estimated GF Value™ of A$4.34. GuruFocus considers Ventia Services Group to be Significantly Overvalued.

Key valuation signals for ASX:VNT:

  • Beneish M-Score: -3.26
  • GF Value™: A$4.34 vs. price of A$5.95 (37.1% above fair value)
  • GF Score™: 62/100 with 3 warning signs

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

Ventia Services Group Business Description

Other Exchanges VNT:New Zealand
Address 155 Miller Street, Level 27, North Sydney, Sydney, NSW, AUS, 2060
While Ventia is not the largest player with an estimated sub 10% share of addressable markets, it is nonetheless a leading infrastructure maintenance services provider in Australia and New Zealand. Its capabilities span the full asset lifecycle including operations and maintenance, facilities management, minor capital works, environmental services, and other solutions. And its business model is favorably capital-light via flexing of a large contractor base complementing a deep pool of talented employees. Ventia has long-term relationships with a diverse range of public and private sector clients with many client relationships maintained for decades. Contracts are favorably long with an average five-year duration at inception and most containing some form of embedded price escalation.
62GF Score

Get the complete analysis for ASX:VNT

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

A$5.95
Price
A$4.34
GF Value