AppleCHIX:APCD 91 Beneish M-Score is -2.61 as of Jun. 26, 2026. GuruFocus rates CHIX:APCD with a GF Score™ of 91/100 and a GF Value™ of €250.78 (Fairly Valued). The stock has 1 warning sign investors should review. Among 2,404 Hardware companies, Apple ranks better than 61.69% 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 -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Apple's Beneish M-Score or its related term are showing as below:
CHIX:APCd'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.99 Med: -2.62 Max: -2
Current: -2.61
During the past 13 years, the highest Beneish M-Score of Apple was -2.00. The lowest was -2.99. And the median was -2.62.
Apple Beneish M-Score Related Terms
Apple Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Apple'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.
CHIX:APCD vs SONO, VUZI, TBCH: Beneish M-Score Comparison
For the Consumer Electronics subindustry, Apple'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.
Apple Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Apple's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Apple'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 Apple 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 * 0.9643
+
0.528 * 0.9744
+
0.404 * 0.9528
+
0.892 * 1.042
+
0.115 * 0.9877
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9524
+
4.679 * -0.047884
-
0.327 * 0.8362
=
-2.67
* 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))
=
(10673.286 / (10673.286 + 43360.3))
/
(10837.305 / (10837.305 + 43350.34))
=
0.197531
/
0.199996
=
0.9877
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
=
(105254.118 - 256.067
-
120368.125)
/
320985.93
=
-0.047884
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.
Apple has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
Apple (CHIX:APCD) has a Beneish M-Score of -2.61 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Apple and its competitors. According to the industry distribution chart, Apple ranks #921 out of 2404 companies in the Hardware industry, placing it in the top 38.3%.
Is Apple's Beneish M-Score too high?
Apple's current Beneish M-Score is -2.61. Based on the distribution chart, Apple ranks #921 out of 2404 companies in the Hardware industry, which is above the industry midpoint. Overall, Apple has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Apple's Beneish M-Score compare to SONO and VUZI?
According to the Hardware industry distribution chart, Apple ranks #921 out of 2404 companies for Beneish M-Score. This puts Apple 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 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 Apple and its competitors. Apple's current Beneish M-Score is -2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apple stock overvalued right now?
Based on GuruFocus' analysis, Apple (CHIX:APCD) is currently considered Fairly Valued. The stock's GF Value™ is €250.78, compared to a current price of €259.15 — trading 3.3% above its estimated fair value. The current Beneish M-Score is -2.61. Apple's overall GF Score™ is 91/100 with 1 warning sign 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 Apple (CHIX:APCD), the current Beneish M-Score is -2.61 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 Apple (CHIX:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Apple stock appears to be overvalued.
The current stock price of €259.15 is trading 3.3% above its estimated GF Value™ of €250.78.
GuruFocus considers Apple to be Fairly Valued.
Key valuation signals for CHIX:APCD:
Beneish M-Score: -2.61
GF Value™: €250.78 vs. price of €259.15 (3.3% above fair value)
No single metric tells the full story. See the CHIX:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone accounts for the majority of the firm's sales, and Apple's other products, such as the Mac, iPad, and Watch, are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, such as streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors and works with subcontractors such as Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with the majority coming indirectly through partnerships and distribution.
91GF Score
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