Web Travel Group (ASX:WEB) Beneish M-Score: -2.80 (As of Jun. 24, 2026)

What is Web Travel Group Beneish M-Score?

Web Travel Group ASX:WEB -2.06% 74 Beneish M-Score is -2.80 as of Jun. 24, 2026. GuruFocus rates ASX:WEB with a GF Score™ of 74/100 and a GF Value™ of A$5.65 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 823 Travel & Leisure companies, Web Travel Group ranks better than 66.46% 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 -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:WEB' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8 Med: -1.79 Max: 0.37
Current: -2.8

During the past 13 years, the highest Beneish M-Score of Web Travel Group was 0.37. The lowest was -2.80. And the median was -1.79.

Web Travel Group Beneish M-Score Related Terms

Web Travel Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Web Travel 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.

Web Travel Group Beneish M-Score Chart

Web Travel Group Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-1.68

-1.74

-2.39

-1.58

-2.80

Web Travel Group Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.39	0.00	-1.58	0.00	-2.80

ASX:WEB vs BKNG, ABNB, RCL: Beneish M-Score Comparison

For the Travel Services subindustry, Web Travel 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.

Web Travel Group Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Web Travel Group's Beneish M-Score distribution charts can be found below:

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

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74GF Score

Web Travel Group Ltd ASX:WEB

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Web Travel 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 Web Travel Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.7908

0.528 * 1

0.404 * 0.9219

0.892 * 1.1998

0.115 * 0.8803

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1441

4.679 * -0.050528

0.327 * 1.006

-2.80

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was A$318.3 Mil.
Revenue was A$394.0 Mil.
Gross Profit was A$394.0 Mil.
Total Current Assets was A$830.8 Mil.
Total Assets was A$1,543.7 Mil.
Property, Plant and Equipment(Net PPE) was A$15.1 Mil.
Depreciation, Depletion and Amortization(DDA) was A$43.5 Mil.
Selling, General, & Admin. Expense(SGA) was A$198.9 Mil.
Total Current Liabilities was A$937.1 Mil.
Long-Term Debt & Capital Lease Obligation was A$3.9 Mil.
Net Income was A$35.5 Mil.
Gross Profit was A$-18.9 Mil.
Cash Flow from Operations was A$132.4 Mil.

Total Receivables was A$335.5 Mil.
Revenue was A$328.4 Mil.
Gross Profit was A$328.4 Mil.
Total Current Assets was A$757.2 Mil.
Total Assets was A$1,525.1 Mil.
Property, Plant and Equipment(Net PPE) was A$20.1 Mil.
Depreciation, Depletion and Amortization(DDA) was A$37.9 Mil.
Selling, General, & Admin. Expense(SGA) was A$144.9 Mil.
Total Current Liabilities was A$680.9 Mil.
Long-Term Debt & Capital Lease Obligation was A$243.2 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)
	=	(318.3 / 394)	/	(335.5 / 328.4)
	=	0.807868	/	1.02162
	=	0.7908

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)
	=	(328.4 / 328.4)	/	(394 / 394)
	=	1	/	1
	=	1

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 - (830.8 + 15.1) / 1543.7)	/	(1 - (757.2 + 20.1) / 1525.1)
	=	0.452031	/	0.490329
	=	0.9219

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
	=	394	/	328.4
	=	1.1998

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))
	=	(37.9 / (37.9 + 20.1))	/	(43.5 / (43.5 + 15.1))
	=	0.653448	/	0.742321
	=	0.8803

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)
	=	(198.9 / 394)	/	(144.9 / 328.4)
	=	0.504822	/	0.44123
	=	1.1441

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)
	=	((3.9 + 937.1) / 1543.7)	/	((243.2 + 680.9) / 1525.1)
	=	0.609574	/	0.605927
	=	1.006

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
	=	(35.5 - -18.9	-	132.4)	/	1543.7
	=	-0.050528

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.

Web Travel Group has a M-score of -2.80 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 -2.80 mean?

Web Travel Group (ASX:WEB) has a Beneish M-Score of -2.80 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Web Travel Group and its competitors. According to the industry distribution chart, Web Travel Group ranks #276 out of 823 companies in the Travel & Leisure industry, placing it in the top 33.5%.

Is Web Travel Group's Beneish M-Score too high?

Web Travel Group's current Beneish M-Score is -2.80. Based on the distribution chart, Web Travel Group ranks #276 out of 823 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Web Travel Group has a GF Score™ of 74/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Web Travel Group's Beneish M-Score compare to BKNG and ABNB?

According to the Travel & Leisure industry distribution chart, Web Travel Group ranks #276 out of 823 companies for Beneish M-Score. This puts Web Travel 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 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 Web Travel Group and its competitors. Web Travel Group's current Beneish M-Score is -2.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Web Travel Group stock overvalued right now?

Based on GuruFocus' analysis, Web Travel Group (ASX:WEB) is currently considered Possible Value Trap. The stock's GF Value™ is A$5.65, compared to a current price of A$2.85 — trading 49.6% below its estimated fair value. The current Beneish M-Score is -2.80. Web Travel Group's overall GF Score™ is 74/100 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 Web Travel Group (ASX:WEB), the current Beneish M-Score is -2.80 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 Web Travel Group (ASX:WEB) Overvalued in 2026?

Based on GuruFocus' analysis, Web Travel Group stock appears to be undervalued. The current stock price of A$2.85 is trading 49.6% below its estimated GF Value™ of A$5.65. GuruFocus considers Web Travel Group to be Possible Value Trap.

Key valuation signals for ASX:WEB:

Beneish M-Score: -2.80
GF Value™: A$5.65 vs. price of A$2.85 (49.6% below fair value)
GF Score™: 74/100 with 3 warning signs

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

Web Travel Group Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies ASX:HLO ASX:WJL ASX:FLT BKNG ABNB RCL VIK CCL TCOM EXPE NCLH GBTG MMYT BOM:542830 HKSE:00780 TNL XTER:TUI1 LSE:JET2 XMAD:HBX SHSE:603099

Other Exchanges WEJTY:USA WBJ:Germany

Address 440 Collins Road, Level 12, Melbourne, VIC, AUS, 3000

Website https://www.webtravelgroup.com

Web Travel Group acts as an intermediary for hotel accommodation inventory across Europe, Asia-Pacific, the Middle East, and Africa, as well as the Americas. The group operates in the business-to-business, or B2B, space. The B2B business, WebBeds, sits between hotels and wholesale/retail travel service providers. WebBeds is presently the world's second-largest B2B accommodation booking provider despite only a 4% market share of the fragmented AUD 70 billion global B2B accommodation market.

74GF Score

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

A$2.85

Price

A$5.65

GF Value

View ASX:WEB Analysis

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