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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 -1.65 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Mildef Group AB's Beneish M-Score or its related term are showing as below:
CHIX:MILDEs'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.62 Med: -1.88 Max: 0.91
Current: -1.65
During the past 8 years, the highest Beneish M-Score of Mildef Group AB was 0.91. The lowest was -3.62. And the median was -1.88.
Mildef Group AB Beneish M-Score Related Terms
Mildef Group AB Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Mildef Group AB'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:MILDES vs SPCX, GE, RTX: Beneish M-Score Comparison
For the Aerospace & Defense subindustry, Mildef Group AB'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.
Mildef Group AB Beneish M-Score vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Mildef Group AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mildef Group AB'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 Mildef Group AB 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 * 0.8683
+
0.528 * 1.038
+
0.404 * 0.8154
+
0.892 * 1.9138
+
0.115 * 1.9084
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7764
+
4.679 * 0.014045
-
0.327 * 1.0573
=
-1.65
* 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))
=
(314.5 / (314.5 + 175.6))
/
(126.6 / (126.6 + 249.9))
=
0.641706
/
0.336255
=
1.9084
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
=
(266.7 - 0
-
221.9)
/
3189.7
=
0.014045
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.
Mildef Group AB has a M-score of -1.65 signals that the company is likely to be a manipulator.
Mildef Group AB (CHIX:MILDES) has a Beneish M-Score of -1.65 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mildef Group AB and its competitors. According to the industry distribution chart, Mildef Group AB ranks #242 out of 326 companies in the Aerospace & Defense industry, placing it in the top 74.2%.
Is Mildef Group AB's Beneish M-Score too high?
Mildef Group AB's current Beneish M-Score is -1.65. Based on the distribution chart, Mildef Group AB ranks #242 out of 326 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Mildef Group AB has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mildef Group AB's Beneish M-Score compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Mildef Group AB ranks #242 out of 326 companies for Beneish M-Score. This places Mildef Group AB 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 Aerospace & Defense company?
A good Beneish M-Score depends on the Aerospace & Defense 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 Mildef Group AB and its competitors. Mildef Group AB's current Beneish M-Score is -1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mildef Group AB stock overvalued right now?
Based on GuruFocus' analysis, Mildef Group AB (CHIX:MILDES) is currently considered Fairly Valued. The stock's GF Value™ is kr198.55, compared to a current price of kr180.38 — trading 9.2% below its estimated fair value. The current Beneish M-Score is -1.65. Mildef Group AB's overall GF Score™ is 70/100 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 Mildef Group AB (CHIX:MILDES), the current Beneish M-Score is -1.65 as of Jul. 17, 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 Mildef Group AB (CHIX:MILDES) Overvalued in 2026?
Based on GuruFocus' analysis, Mildef Group AB stock appears to be undervalued.
The current stock price of kr180.38 is trading 9.2% below its estimated GF Value™ of kr198.55.
GuruFocus considers Mildef Group AB to be Fairly Valued.
Key valuation signals for CHIX:MILDES:
Beneish M-Score: -1.65
GF Value™: kr198.55 vs. price of kr180.38 (9.2% below fair value)
No single metric tells the full story. See the CHIX:MILDES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mildef Group AB is a multinational systems integrator and full-spectrum provider specializing in rugged IT for military, government, and critical infrastructure sectors. It provides hardware, software, and services that shield and protect critical information streams and systems. Some of the products and services offered by the company include hardware products like intelligent displays, rugged laptops, routers, handhelds, robot controllers, etc; the OneCIS software solution, which provides a secure, flexible, scalable, and deployable tactical IT capability; and custom product development and integration services. Geographically, the company generates maximum revenue from Germany, and the rest from Sweden, Norway, the USA, Europe (excluding Nordics and Germany), and other countries.
70GF Score
Get the complete analysis for CHIX:MILDES
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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