The Magnum Ice Cream Co NV (CHIX:MICCL) Beneish M-Score: -0.43 (As of Jun. 27, 2026)


CHIX:MICCL The Magnum Ice Cream Co NV CHIX:MICCL
23 GF Score
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What is The Magnum Ice Cream Co NV Beneish M-Score?

The Magnum Ice Cream Co NV CHIX:MICCL +1.44% 23 Beneish M-Score is -0.43 as of Jun. 27, 2026. GuruFocus rates CHIX:MICCL with a GF Score™ of 23/100. The stock has 6 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, The Magnum Ice Cream Co NV ranks worse than 93.73% 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 -0.43 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for The Magnum Ice Cream Co NV's Beneish M-Score or its related term are showing as below:

CHIX:MICCl' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8   Med: -2.54   Max: -0.43
Current: -0.43

During the past 5 years, the highest Beneish M-Score of The Magnum Ice Cream Co NV was -0.43. The lowest was -2.80. And the median was -2.54.

The Magnum Ice Cream Co NV Beneish M-Score Historical Data

* Premium members only.

The historical data trend for The Magnum Ice Cream Co NV'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.

The Magnum Ice Cream Co NV Beneish M-Score Chart

The Magnum Ice Cream Co NV Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.54 -2.80 -0.43

The Magnum Ice Cream Co NV Semi-Annual Data
Dec21 Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -2.54 0.00 -2.80 0.00 -0.43

CHIX:MICCL vs KHC, GIS, JBS: Beneish M-Score Comparison

For the Packaged Foods subindustry, The Magnum Ice Cream Co NV'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.

The Magnum Ice Cream Co NV Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, The Magnum Ice Cream Co NV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where The Magnum Ice Cream Co NV's Beneish M-Score falls into.


CHIX:MICCL
23GF Score
The Magnum Ice Cream Co NV CHIX:MICCL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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The Magnum Ice Cream Co NV 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 The Magnum Ice Cream Co NV 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 * 3.5419+0.528 * 1.0081+0.404 * 0.9714+0.892 * 1.0511+0.115 * 1.077
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0122+4.679 * 0.021234-0.327 * 2.1736
=-0.38

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was £1,579 Mil.
Revenue was £6,919 Mil.
Gross Profit was £2,396 Mil.
Total Current Assets was £2,761 Mil.
Total Assets was £6,550 Mil.
Property, Plant and Equipment(Net PPE) was £2,017 Mil.
Depreciation, Depletion and Amortization(DDA) was £296 Mil.
Selling, General, & Admin. Expense(SGA) was £1,525 Mil.
Total Current Liabilities was £2,718 Mil.
Long-Term Debt & Capital Lease Obligation was £2,780 Mil.
Net Income was £256 Mil.
Gross Profit was £-305 Mil.
Cash Flow from Operations was £422 Mil.
 Total Receivables was £424 Mil.
Revenue was £6,582 Mil.
Gross Profit was £2,298 Mil.
Total Current Assets was £1,349 Mil.
Total Assets was £4,573 Mil.
Property, Plant and Equipment(Net PPE) was £1,951 Mil.
Depreciation, Depletion and Amortization(DDA) was £311 Mil.
Selling, General, & Admin. Expense(SGA) was £1,433 Mil.
Total Current Liabilities was £1,681 Mil.
Long-Term Debt & Capital Lease Obligation was £85 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)
=(1578.847 / 6918.934) / (424.075 / 6582.28)
=0.228192 / 0.064427
=3.5419

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)
=(2297.627 / 6582.28) / (2395.823 / 6918.934)
=0.349062 / 0.346271
=1.0081

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 - (2761.451 + 2017.075) / 6549.808) / (1 - (1349.255 + 1950.581) / 4572.891)
=0.270433 / 0.278392
=0.9714

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
=6918.934 / 6582.28
=1.0511

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))
=(311.43 / (311.43 + 1950.581)) / (295.651 / (295.651 + 2017.075))
=0.137678 / 0.127837
=1.077

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)
=(1524.615 / 6918.934) / (1432.911 / 6582.28)
=0.220354 / 0.217692
=1.0122

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)
=((2779.82 + 2717.715) / 6549.808) / ((85.312 + 1680.564) / 4572.891)
=0.839343 / 0.386162
=2.1736

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
=(256.289 - -305.273 - 422.484) / 6549.808
=0.021234

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 Magnum Ice Cream Co NV has a M-score of -0.38 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 -0.43 mean?
The Magnum Ice Cream Co NV (CHIX:MICCL) has a Beneish M-Score of -0.43 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Magnum Ice Cream Co NV and its competitors. According to the industry distribution chart, The Magnum Ice Cream Co NV ranks #1733 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 93.7%.
Is The Magnum Ice Cream Co NV's Beneish M-Score too high?
The Magnum Ice Cream Co NV's current Beneish M-Score is -0.43. Based on the distribution chart, The Magnum Ice Cream Co NV ranks #1733 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, The Magnum Ice Cream Co NV has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does The Magnum Ice Cream Co NV's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, The Magnum Ice Cream Co NV ranks #1733 out of 1849 companies for Beneish M-Score. This places The Magnum Ice Cream Co NV 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 The Magnum Ice Cream Co NV and its competitors. The Magnum Ice Cream Co NV's current Beneish M-Score is -0.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Magnum Ice Cream Co NV stock overvalued right now?
The Magnum Ice Cream Co NV (CHIX:MICCL) has a current Beneish M-Score of -0.43. The current Beneish M-Score is -0.43. The Magnum Ice Cream Co NV's overall GF Score™ is 23/100 with 6 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 The Magnum Ice Cream Co NV (CHIX:MICCL), the current Beneish M-Score is -0.43 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.

The Magnum Ice Cream Co NV Business Description

Address Reguliersdwarsstraat 63, Amsterdam, NLD, 1017 BK
The Magnum Ice Cream Co NV is a spinoff from Unilever, pure-play in manufacturing and selling a broad portfolio of ice-cream brands. TMICC ice-cream portfolio includes Magnum, Ben and Jerrys, Cornetto and the Heart brand. The company is organised into three geographic regions (i) Europe and ANZ, (ii) Americas, and (iii) AMEA.
23GF Score

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

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