4iG Nyrt (BUD:4IG) Beneish M-Score: -3.07 (As of Jun. 26, 2026)

What is 4iG Nyrt Beneish M-Score?

4iG Nyrt BUD:4IG -4.04% 64 Beneish M-Score is -3.07 as of Jun. 26, 2026. GuruFocus rates BUD:4IG with a GF Score™ of 64/100 and a GF Value™ of Ft1,575.10 (Fairly Valued). The stock has 5 warning signs investors should review. Among 355 Telecommunication Services companies, 4iG Nyrt ranks better than 75.21% 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 -3.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for 4iG Nyrt's Beneish M-Score or its related term are showing as below:

BUD:4IG' s Beneish M-Score Range Over the Past 10 Years
Min: -6.41 Med: -2.17 Max: -0.21
Current: -3.07

During the past 13 years, the highest Beneish M-Score of 4iG Nyrt was -0.21. The lowest was -6.41. And the median was -2.17.

4iG Nyrt Beneish M-Score Related Terms

4iG Nyrt Beneish M-Score Historical Data

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The historical data trend for 4iG Nyrt'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.

4iG Nyrt Beneish M-Score Chart

4iG Nyrt Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-0.21

-1.85

-2.12

-3.45

-3.07

4iG Nyrt 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															0.00	0.00	0.00	-3.07	0.00

BUD:4IG vs TMUS, VZ, T: Beneish M-Score Comparison

For the Telecom Services subindustry, 4iG Nyrt'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.

4iG Nyrt Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, 4iG Nyrt's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where 4iG Nyrt's Beneish M-Score falls into.

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64GF Score

4iG Nyrt BUD:4IG

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

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4iG Nyrt 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 4iG Nyrt 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 * 0.9788

0.528 * 1.0029

0.404 * 0.9617

0.892 * 1.0846

0.115 * 1.0001

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0012

4.679 * -0.143267

0.327 * 0.8902

-3.07

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was Ft130,136 Mil.
Revenue was Ft745,297 Mil.
Gross Profit was Ft378,232 Mil.
Total Current Assets was Ft375,854 Mil.
Total Assets was Ft1,754,164 Mil.
Property, Plant and Equipment(Net PPE) was Ft586,174 Mil.
Depreciation, Depletion and Amortization(DDA) was Ft195,124 Mil.
Selling, General, & Admin. Expense(SGA) was Ft36,820 Mil.
Total Current Liabilities was Ft287,807 Mil.
Long-Term Debt & Capital Lease Obligation was Ft910,445 Mil.
Net Income was Ft-5,344 Mil.
Gross Profit was Ft0 Mil.
Cash Flow from Operations was Ft245,970 Mil.

Total Receivables was Ft122,582 Mil.
Revenue was Ft687,176 Mil.
Gross Profit was Ft349,746 Mil.
Total Current Assets was Ft225,128 Mil.
Total Assets was Ft1,508,384 Mil.
Property, Plant and Equipment(Net PPE) was Ft575,001 Mil.
Depreciation, Depletion and Amortization(DDA) was Ft191,427 Mil.
Selling, General, & Admin. Expense(SGA) was Ft33,909 Mil.
Total Current Liabilities was Ft258,733 Mil.
Long-Term Debt & Capital Lease Obligation was Ft898,661 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)
	=	(130136 / 745297)	/	(122582 / 687176)
	=	0.17461	/	0.178385
	=	0.9788

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)
	=	(349746 / 687176)	/	(378232 / 745297)
	=	0.508961	/	0.507492
	=	1.0029

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 - (375854 + 586174) / 1754164)	/	(1 - (225128 + 575001) / 1508384)
	=	0.451575	/	0.469546
	=	0.9617

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
	=	745297	/	687176
	=	1.0846

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))
	=	(191427 / (191427 + 575001))	/	(195124 / (195124 + 586174))
	=	0.249765	/	0.249743
	=	1.0001

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)
	=	(36820 / 745297)	/	(33909 / 687176)
	=	0.049403	/	0.049345
	=	1.0012

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)
	=	((910445 + 287807) / 1754164)	/	((898661 + 258733) / 1508384)
	=	0.68309	/	0.767307
	=	0.8902

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
	=	(-5344 - 0	-	245970)	/	1754164
	=	-0.143267

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.

4iG Nyrt has a M-score of -3.07 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 -3.07 mean?

4iG Nyrt (BUD:4IG) has a Beneish M-Score of -3.07 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on 4iG Nyrt and its competitors. According to the industry distribution chart, 4iG Nyrt ranks #88 out of 355 companies in the Telecommunication Services industry, placing it in the top 24.8%.

Is 4iG Nyrt's Beneish M-Score too high?

4iG Nyrt's current Beneish M-Score is -3.07. Based on the distribution chart, 4iG Nyrt ranks #88 out of 355 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, 4iG Nyrt has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does 4iG Nyrt's Beneish M-Score compare to TMUS and VZ?

According to the Telecommunication Services industry distribution chart, 4iG Nyrt ranks #88 out of 355 companies for Beneish M-Score. This places 4iG Nyrt in the top 25% 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 Telecommunication Services company?

A good Beneish M-Score depends on the Telecommunication Services 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 4iG Nyrt and its competitors. 4iG Nyrt's current Beneish M-Score is -3.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is 4iG Nyrt stock overvalued right now?

Based on GuruFocus' analysis, 4iG Nyrt (BUD:4IG) is currently considered Fairly Valued. The stock's GF Value™ is Ft1,575.10, compared to a current price of Ft1,712.00 — trading 8.7% above its estimated fair value. The current Beneish M-Score is -3.07. 4iG Nyrt's overall GF Score™ is 64/100 with 5 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 4iG Nyrt (BUD:4IG), the current Beneish M-Score is -3.07 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.

Is 4iG Nyrt (BUD:4IG) Overvalued in 2026?

Based on GuruFocus' analysis, 4iG Nyrt stock appears to be overvalued. The current stock price of Ft1,712.00 is trading 8.7% above its estimated GF Value™ of Ft1,575.10. GuruFocus considers 4iG Nyrt to be Fairly Valued.

Key valuation signals for BUD:4IG:

Beneish M-Score: -3.07
GF Value™: Ft1,575.10 vs. price of Ft1,712.00 (8.7% above fair value)
GF Score™: 64/100 with 5 warning signs

No single metric tells the full story. See the BUD:4IG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

4iG Nyrt Business Description

Industry Communication Services Telecommunication Services

Comparable Companies BUD:NORDGENERAL BUD:MTELEKOM TSE:9984 SHSE:600941 TMUS VZ T XTER:DTE NSE:BHARTIARTL CMCSA XZIM:ECO.ZW HKSE:00728 MEX:AMXB TSE:9432 TSE:9433 TSE:9434 SAU:7010 SGX:Z74 XPAR:ORA XSWX:SCMN

Other Exchanges U1A:Germany

Address Krisztina Korut, 39, Budapest, HUN, 1013

Website https://www.4ig.hu

4iG Nyrt is a Hungary-based telecommunications and information technology group engaged in the operation of telecommunications networks, provision of telecommunications services, development of IT solutions and system integration, sale of technological devices, and provision of space industry and drone technology solutions. The group operates through Telecommunications, IT, Space and Defence, and Other segments. Its activities include mobile, internet, and fixed-line services, software development, cybersecurity, enterprise IT solutions, satellite communication and data transmission solutions, drone technologies, and the distribution of smartphones, laptops, televisions, and other electronic devices. It generates the majority of its revenue from the Telecommunications segment.

64GF Score

Get the complete analysis for BUD:4IG

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

Ft1,712.00

Price

Ft1,575.10

GF Value

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