Reply SpACHIX:REYM 89 Beneish M-Score is -2.58 as of Jun. 25, 2026. GuruFocus rates CHIX:REYM with a GF Score™ of 89/100 and a GF Value™ of €148.21 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 2,633 Software companies, Reply SpA ranks better than 52.6% 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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Reply SpA's Beneish M-Score or its related term are showing as below:
CHIX:REYm'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.92 Med: -2.03 Max: 50.87
Current: -2.58
During the past 13 years, the highest Beneish M-Score of Reply SpA was 50.87. The lowest was -2.92. And the median was -2.03.
Reply SpA Beneish M-Score Related Terms
Reply SpA Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Reply SpA'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:REYM vs IBM, ACN, FISV: Beneish M-Score Comparison
For the Information Technology Services subindustry, Reply SpA'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.
Reply SpA Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Reply SpA's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Reply SpA'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 Reply SpA 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 * 0.9712
+
0.528 * 1.0238
+
0.404 * 0.8932
+
0.892 * 1.0671
+
0.115 * 1.077
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0674
+
4.679 * -0.027167
-
0.327 * 0.9163
=
-2.58
* 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))
=
(84.933 / (84.933 + 259.114))
/
(89.359 / (89.359 + 300.499))
=
0.246865
/
0.229209
=
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
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
=
(250.889 - 0
-
326.008)
/
2765.035
=
-0.027167
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.
Reply SpA has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
Reply SpA (CHIX:REYM) has a Beneish M-Score of -2.58 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Reply SpA and its competitors. According to the industry distribution chart, Reply SpA ranks #1248 out of 2633 companies in the Software industry, placing it in the top 47.4%.
Is Reply SpA's Beneish M-Score too high?
Reply SpA's current Beneish M-Score is -2.58. Based on the distribution chart, Reply SpA ranks #1248 out of 2633 companies in the Software industry, which is above the industry midpoint. Overall, Reply SpA has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Reply SpA's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Reply SpA ranks #1248 out of 2633 companies for Beneish M-Score. This puts Reply SpA 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 Software company?
A good Beneish M-Score depends on the Software 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 Reply SpA and its competitors. Reply SpA's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reply SpA stock overvalued right now?
Based on GuruFocus' analysis, Reply SpA (CHIX:REYM) is currently considered Modestly Undervalued. The stock's GF Value™ is €148.21, compared to a current price of €105.20 — trading 29% below its estimated fair value. The current Beneish M-Score is -2.58. Reply SpA's overall GF Score™ is 89/100 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 Reply SpA (CHIX:REYM), the current Beneish M-Score is -2.58 as of Jun. 25, 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 Reply SpA (CHIX:REYM) Overvalued in 2026?
Based on GuruFocus' analysis, Reply SpA stock appears to be undervalued.
The current stock price of €105.20 is trading 29% below its estimated GF Value™ of €148.21.
GuruFocus considers Reply SpA to be Modestly Undervalued.
Key valuation signals for CHIX:REYM:
Beneish M-Score: -2.58
GF Value™: €148.21 vs. price of €105.20 (29% below fair value)
No single metric tells the full story. See the CHIX:REYM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reply SpA specialises in consulting, digital services, and the integration of processes, applications, and devices. Reply serves clients in the telecommunication and media, banking, insurance, financial, industry and services, energy and utilities, and public administration industries. The company provides its services mainly through platforms such as X-Rais Reply, Discovery Reply, Brick Reply, TamTamy, and SideUp Reply. Reply researches, selects, and markets solutions through channels such as data analysis, digital communication, e-commerce, mobile, and social media. Its business segments are defined based on geographical areas of operation and include Region 1 (including Italy, USA, Brazil, Poland, Romania, and Nanjing), which derives key revenue, Region 2, Region 3, and IoT Incubator.
89GF Score
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