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.
The historical rank and industry rank for Total Energies Marketing Maroc's Beneish M-Score or its related term are showing as below:
During the past 12 years, the highest Beneish M-Score of Total Energies Marketing Maroc was -1.37. The lowest was -3.49. And the median was -2.23.
Total Energies Marketing Maroc Beneish M-Score Related Terms
Total Energies Marketing Maroc Beneish M-Score Historical Data
* 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.
Total Energies Marketing Maroc Beneish M-Score Chart
CAS:TMA vs VLO, MPC, PSX: Beneish M-Score Comparison
For the Oil & Gas Refining & Marketing subindustry, Total Energies Marketing Maroc'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.
Total Energies Marketing Maroc Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Total Energies Marketing Maroc's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Total Energies Marketing Maroc's Beneish M-Score falls into.
Total Energies Marketing Maroc 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 Total Energies Marketing Maroc 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 *
+
0.528 *
+
0.404 *
+
0.892 *
+
0.115 *
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 *
+
4.679 *
-
0.327 *
=
* 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))
=
(0 / (0 + 0))
/
(0 / (0 + 2970.999))
=
/
0
=
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
=
(851.083 - 0
-
0)
/
8258.143
=
0.10306
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.
Total Energies Marketing Maroc (CAS:TMA) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Total Energies Marketing Maroc and its competitors. According to the industry distribution chart, Total Energies Marketing Maroc ranks #999999 out of 822 companies in the Oil & Gas industry.
Is Total Energies Marketing Maroc's Beneish M-Score too high?
Total Energies Marketing Maroc's current Beneish M-Score is 0.00. Based on the distribution chart, Total Energies Marketing Maroc ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Total Energies Marketing Maroc has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Total Energies Marketing Maroc's Beneish M-Score compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Total Energies Marketing Maroc ranks #999999 out of 822 companies for Beneish M-Score. This places Total Energies Marketing Maroc 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Total Energies Marketing Maroc and its competitors. Total Energies Marketing Maroc's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Total Energies Marketing Maroc stock overvalued right now?
Based on GuruFocus' analysis, Total Energies Marketing Maroc (CAS:TMA) is currently considered Modestly Overvalued. The stock's GF Value™ is MAD1,224.31, compared to a current price of MAD1,500.00 — trading 22.5% above its estimated fair value. The current Beneish M-Score is 0.00. Total Energies Marketing Maroc's overall GF Score™ is 83/100 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 Total Energies Marketing Maroc (CAS:TMA), the current Beneish M-Score is 0.00 as of Jun. 27, 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 Total Energies Marketing Maroc (CAS:TMA) Overvalued in 2026?
Based on GuruFocus' analysis, Total Energies Marketing Maroc stock appears to be overvalued.
The current stock price of MAD1,500.00 is trading 22.5% above its estimated GF Value™ of MAD1,224.31.
GuruFocus considers Total Energies Marketing Maroc to be Modestly Overvalued.
Key valuation signals for CAS:TMA:
Beneish M-Score: 0.00
GF Value™: MAD1,224.31 vs. price of MAD1,500.00 (22.5% above fair value)
No single metric tells the full story. See the CAS:TMA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Total Energies Marketing Maroc Business Description
Total Energies Marketing Maroc is an international oil and gas company. It is engaged in trade of oil, shale and their derivatives, greasy substances, simple or compound of mineral or organic origin, essential oils and all by-products of the materials. It engages in research, exploitation of oil fields, the acquisition of interests in existing companies, the purchase and sale of crude oil and finished products, and all industrial, mining, commercial, financial, and Real estate development.
83GF Score
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