Mecanica Ceahlau (BSE:MECF) Beneish M-Score: -1.47 (As of Jun. 26, 2026)

What is Mecanica Ceahlau Beneish M-Score?

Mecanica Ceahlau BSE:MECF -8.12% Beneish M-Score is -1.47 as of Jun. 26, 2026. The stock has 6 warning signs investors should review. Among 205 Farm & Heavy Construction Machinery companies, Mecanica Ceahlau ranks worse than 86.83% 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 -1.47 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BSE:MECF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.97 Med: -2.46 Max: -0.62
Current: -1.47

During the past 13 years, the highest Beneish M-Score of Mecanica Ceahlau was -0.62. The lowest was -3.97. And the median was -2.46.

Mecanica Ceahlau Beneish M-Score Related Terms

Mecanica Ceahlau Beneish M-Score Historical Data

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The historical data trend for Mecanica Ceahlau'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.

Mecanica Ceahlau Beneish M-Score Chart

Mecanica Ceahlau Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.94

-1.20

-2.76

-3.74

-0.62

Mecanica Ceahlau 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															-1.96	-2.80	-2.17	-0.62	-1.47

BSE:MECF vs CAT, DE, PCAR: Beneish M-Score Comparison

For the Farm & Heavy Construction Machinery subindustry, Mecanica Ceahlau'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.

Mecanica Ceahlau Beneish M-Score vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Mecanica Ceahlau's Beneish M-Score distribution charts can be found below:

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

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Mecanica Ceahlau 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 Mecanica Ceahlau 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 * 1.0266

0.528 * 0.8459

0.404 * 5.1371

0.892 * 0.6408

0.115 * 1.2106

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.5367

4.679 * -0.066434

0.327 * 0.7125

-1.47

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was lei3.50 Mil.
Revenue was 2.76 + 3.916 + 5.618 + 2.711 = lei15.01 Mil.
Gross Profit was 1.266 + 1.141 + 1.86 + 1.345 = lei5.61 Mil.
Total Current Assets was lei35.92 Mil.
Total Assets was lei55.32 Mil.
Property, Plant and Equipment(Net PPE) was lei18.08 Mil.
Depreciation, Depletion and Amortization(DDA) was lei1.71 Mil.
Selling, General, & Admin. Expense(SGA) was lei2.13 Mil.
Total Current Liabilities was lei4.74 Mil.
Long-Term Debt & Capital Lease Obligation was lei1.53 Mil.
Net Income was -1.922 + 0.805 + -0.958 + -1.907 = lei-3.98 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = lei0.00 Mil.
Cash Flow from Operations was -1.436 + -0.617 + 0.297 + 1.449 = lei-0.31 Mil.

Total Receivables was lei5.33 Mil.
Revenue was 7.208 + 5.07 + 4.028 + 7.11 = lei23.42 Mil.
Gross Profit was 2.05 + 1.576 + 1.393 + 2.389 = lei7.41 Mil.
Total Current Assets was lei36.48 Mil.
Total Assets was lei59.26 Mil.
Property, Plant and Equipment(Net PPE) was lei22.51 Mil.
Depreciation, Depletion and Amortization(DDA) was lei2.63 Mil.
Selling, General, & Admin. Expense(SGA) was lei2.16 Mil.
Total Current Liabilities was lei8.25 Mil.
Long-Term Debt & Capital Lease Obligation was lei1.18 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)
	=	(3.503 / 15.005)	/	(5.325 / 23.416)
	=	0.233456	/	0.227409
	=	1.0266

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)
	=	(7.408 / 23.416)	/	(5.612 / 15.005)
	=	0.316365	/	0.374009
	=	0.8459

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 - (35.922 + 18.082) / 55.318)	/	(1 - (36.481 + 22.506) / 59.261)
	=	0.023754	/	0.004624
	=	5.1371

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
	=	15.005	/	23.416
	=	0.6408

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))
	=	(2.629 / (2.629 + 22.506))	/	(1.71 / (1.71 + 18.082))
	=	0.104595	/	0.086399
	=	1.2106

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)
	=	(2.129 / 15.005)	/	(2.162 / 23.416)
	=	0.141886	/	0.09233
	=	1.5367

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)
	=	((1.534 + 4.743) / 55.318)	/	((1.184 + 8.254) / 59.261)
	=	0.113471	/	0.159262
	=	0.7125

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
	=	(-3.982 - 0	-	-0.307)	/	55.318
	=	-0.066434

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.

Mecanica Ceahlau has a M-score of -1.47 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -1.47 mean?

Mecanica Ceahlau (BSE:MECF) has a Beneish M-Score of -1.47 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mecanica Ceahlau and its competitors. According to the industry distribution chart, Mecanica Ceahlau ranks #178 out of 205 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 86.8%.

Is Mecanica Ceahlau's Beneish M-Score too high?

Mecanica Ceahlau's current Beneish M-Score is -1.47. Based on the distribution chart, Mecanica Ceahlau ranks #178 out of 205 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers.

How does Mecanica Ceahlau's Beneish M-Score compare to CAT and DE?

According to the Farm & Heavy Construction Machinery industry distribution chart, Mecanica Ceahlau ranks #178 out of 205 companies for Beneish M-Score. This places Mecanica Ceahlau 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 Farm & Heavy Construction Machinery company?

A good Beneish M-Score depends on the Farm & Heavy Construction Machinery 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 Mecanica Ceahlau and its competitors. Mecanica Ceahlau's current Beneish M-Score is -1.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mecanica Ceahlau stock overvalued right now?

Based on GuruFocus' analysis, Mecanica Ceahlau (BSE:MECF) is currently considered Significantly Overvalued. The stock's GF Value™ is lei0.06, compared to a current price of lei0.09 — trading 50.8% above its estimated fair value. The current Beneish M-Score is -1.47. 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 Mecanica Ceahlau (BSE:MECF), the current Beneish M-Score is -1.47 as of Jun. 26, 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.

Mecanica Ceahlau Business Description

Industry Industrials Farm & Heavy Construction Machinery

Comparable Companies CAT DE OSTO:VOLV B PCAR TSE:6201 XTER:DTG TSE:6301 OSTO:EPI A SHSE:600031 TSE:6326 SZSE:000425 XAMS:EXO OHEL:METSO HKSE:03808 CNH SHSE:600066 BOM:500477 SZSE:000157 AGCO OSK

Address Dumbravei Street, nr. 6, Neamt County, Piatra Neamt, ROU, 610202

Website https://www.mecanicaceahlau.ro

Mecanica Ceahlau is engaged in manufacturing of of machinery and equipment for agriculture and forestry. Its products include CF 5, CF 7, CF 9, CFM 7, CFM 9, CSC 00B/5, CSC 00B/7, CSC 00B/9, FB 1600, as well as agricultural trailers with a capacity of 4 to 20 tons.