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CWDBOM:543378 -2.11%69 Beneish M-Score is 2.61 as of Aug. 05, 2026, which is 832% above its 10-year median of 0.28. GuruFocus rates BOM:543378 with a GF Score™ of 69/100 and a GF Value™ of ₹4,309.66 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 2,401 Hardware companies, CWD ranks worse than 98.04% 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.
Warning Sign:
Beneish M-Score 2.61 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for CWD's Beneish M-Score or its related term are showing as below:
BOM:543378'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.26 Med: 0.28 Max: 2.61
Current: 2.61
During the past 7 years, the highest Beneish M-Score of CWD was 2.61. The lowest was -2.26. And the median was 0.28.
The historical data trend for CWD'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.
BOM:543378 vs APH, GLW, TEL: Beneish M-Score Comparison
For the Electronic Components subindustry, CWD'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.
CWD Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, CWD's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CWD'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 CWD 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 * 0.7611
+
0.528 * 3.0707
+
0.404 * 0.27
+
0.892 * 4.3108
+
0.115 * 5.0638
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.249053
-
0.327 * 1.7435
=
2.61
* 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))
=
(29.02 / (29.02 + 39.275))
/
(34.636 / (34.636 + 378.127))
=
0.424921
/
0.083913
=
5.0638
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
=
(111.168 - 0
-
-483.535)
/
2387.86
=
0.249053
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.
CWD has a M-score of 2.61 signals that the company is likely to be a manipulator.
CWD (BOM:543378) has a Beneish M-Score of 2.61 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CWD and its competitors. This is 832% above median its historical median of 0.28. According to the industry distribution chart, CWD ranks #2354 out of 2401 companies in the Hardware industry, placing it in the top 98%.
Is CWD's Beneish M-Score too high?
CWD's current Beneish M-Score of 2.61 is 832% above median its 10-year median of 0.28. Based on the distribution chart, CWD ranks #2354 out of 2401 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, CWD has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does CWD's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, CWD ranks #2354 out of 2401 companies for Beneish M-Score. This places CWD 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 CWD and its competitors. CWD's current Beneish M-Score is 2.61, which is 832% above median its own 10-year median of 0.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CWD stock overvalued right now?
Based on GuruFocus' analysis, CWD (BOM:543378) is currently considered Possible Value Trap. The stock's GF Value™ is ₹4,309.66, compared to a current price of ₹301.95 — trading 93% below its estimated fair value. The current Beneish M-Score is 2.61, which is 832% above median its 10-year median of 0.28. CWD's overall GF Score™ is 69/100 with 7 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 CWD (BOM:543378), the current Beneish M-Score is 2.61 as of Aug. 05, 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 CWD (BOM:543378) Overvalued in 2026?
Based on GuruFocus' analysis, CWD stock appears to be undervalued.
The current stock price of ₹301.95 is trading 93% below its estimated GF Value™ of ₹4,309.66.
GuruFocus considers CWD to be Possible Value Trap.
Key valuation signals for BOM:543378:
Beneish M-Score: 2.61 (832% above median its 10-year median of 0.28)
GF Value™: ₹4,309.66 vs. price of ₹301.95 (93% below fair value)
No single metric tells the full story. See the BOM:543378 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CWD Ltd is an Information and Communication Technology (ICT) company specializing in designing, developing, manufacturing, and selling integrated wireless technology solutions. The company focuses on wireless communication technologies including NFC, Bluetooth BLE, Wi-Fi, Zigbee, LoRa, 5G LTE, NB-IoT, and LTE CAT M1. Its diversified product portfolio includes smart medical consumer electronics, vaccine tracking and delivery devices, farm cattle tracking systems, smart power meter electronics, employee safety and identity solutions, smart lighting components, and Bluetooth low energy modules. CWD also has subsidiaries and has expanded its footprint through acquisitions. CWD operates in two prominent segments, Consumer Electronics and Design and Development of Technology Solutions.
69GF Score
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