CumminsBSP:C1MI34 -4.46%69 Beneish M-Score is -2.55 as of Jun. 28, 2026. GuruFocus rates BSP:C1MI34 with a GF Score™ of 69/100 and a GF Value™ of R$421.52 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 2,919 Industrial Products companies, Cummins ranks better than 59.47% 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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Cummins's Beneish M-Score or its related term are showing as below:
BSP:C1MI34'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.12 Med: -2.61 Max: -2.14
Current: -2.55
During the past 13 years, the highest Beneish M-Score of Cummins was -2.14. The lowest was -3.12. And the median was -2.61.
Cummins Beneish M-Score Related Terms
Cummins Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Cummins'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.
BSP:C1MI34 vs EMR, PH, ITW: Beneish M-Score Comparison
For the Specialty Industrial Machinery subindustry, Cummins'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.
Cummins Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Cummins's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cummins'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 Cummins 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 * 1.0996
+
0.528 * 0.9945
+
0.404 * 0.9035
+
0.892 * 0.9493
+
0.115 * 0.9863
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.996
+
4.679 * -0.039817
-
0.327 * 0.9742
=
-2.65
* 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))
=
(6091.899 / (6091.899 + 39972.73))
/
(6035.172 / (6035.172 + 38976.209))
=
0.132247
/
0.134081
=
0.9863
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
=
(14465.718 - 300.922
-
21337.158)
/
180133.572
=
-0.039817
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.
Cummins has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
Cummins (BSP:C1MI34) has a Beneish M-Score of -2.55 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cummins and its competitors. According to the industry distribution chart, Cummins ranks #1183 out of 2919 companies in the Industrial Products industry, placing it in the top 40.5%.
Is Cummins' Beneish M-Score too high?
Cummins' current Beneish M-Score is -2.55. Based on the distribution chart, Cummins ranks #1183 out of 2919 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Cummins has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cummins' Beneish M-Score compare to EMR and PH?
According to the Industrial Products industry distribution chart, Cummins ranks #1183 out of 2919 companies for Beneish M-Score. This puts Cummins 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Cummins and its competitors. Cummins's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cummins stock overvalued right now?
Based on GuruFocus' analysis, Cummins (BSP:C1MI34) is currently considered Significantly Overvalued. The stock's GF Value™ is R$421.52, compared to a current price of R$887.56 — trading 110.6% above its estimated fair value. The current Beneish M-Score is -2.55. Cummins' overall GF Score™ is 69/100 with 9 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 Cummins (BSP:C1MI34), the current Beneish M-Score is -2.55 as of Jun. 28, 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 Cummins (BSP:C1MI34) Overvalued in 2026?
Based on GuruFocus' analysis, Cummins stock appears to be overvalued.
The current stock price of R$887.56 is trading 110.6% above its estimated GF Value™ of R$421.52.
GuruFocus considers Cummins to be Significantly Overvalued.
Key valuation signals for BSP:C1MI34:
Beneish M-Score: -2.55
GF Value™: R$421.52 vs. price of R$887.56 (110.6% above fair value)
No single metric tells the full story. See the BSP:C1MI34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of the world. Much of Cummins' foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins' business model is unique as it competes with many of its heavy-duty truck manufacturer customers, which also make their own engines.
69GF Score
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