Zegona Communications (CHIX:ZEGL) Beneish M-Score: 0.00 (As of Jun. 27, 2026)

What is Zegona Communications Beneish M-Score?

Zegona Communications CHIX:ZEGL +0.83% 15 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates CHIX:ZEGL with a GF Score™ of 15/100. The stock has 6 warning signs investors should review. Among 355 Telecommunication Services companies, Zegona Communications ranks worse than 281689.86% 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.

The historical rank and industry rank for Zegona Communications's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Zegona Communications was 0.00. The lowest was 0.00. And the median was 0.00.

Zegona Communications Beneish M-Score Related Terms

Zegona Communications Beneish M-Score Historical Data

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The historical data trend for Zegona Communications'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.

Zegona Communications Beneish M-Score Chart

Zegona Communications Annual Data

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Mar26

Beneish M-Score

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0.00

Zegona Communications Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	0.00

CHIX:ZEGL vs TMUS, VZ, T: Beneish M-Score Comparison

For the Telecom Services subindustry, Zegona Communications'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.

Zegona Communications Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Zegona Communications's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Zegona Communications's Beneish M-Score falls into.

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Zegona Communications PLC CHIX:ZEGL

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Zegona Communications 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 Zegona Communications for today is based on a combination of the following eight different indices:

-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 *

This Year (Mar26) TTM:

Last Year (Dec23) TTM:

Total Receivables was £602 Mil.
Revenue was £3,145 Mil.
Gross Profit was £2,524 Mil.
Total Current Assets was £1,257 Mil.
Total Assets was £6,885 Mil.
Property, Plant and Equipment(Net PPE) was £2,893 Mil.
Depreciation, Depletion and Amortization(DDA) was £1,265 Mil.
Selling, General, & Admin. Expense(SGA) was £2,198 Mil.
Total Current Liabilities was £1,788 Mil.
Long-Term Debt & Capital Lease Obligation was £3,813 Mil.
Net Income was £-164 Mil.
Gross Profit was £0 Mil.
Cash Flow from Operations was £2,148 Mil.

Total Receivables was £1,022 Mil.
Revenue was £0 Mil.
Gross Profit was £0 Mil.
Total Current Assets was £1,029 Mil.
Total Assets was £1,033 Mil.
Property, Plant and Equipment(Net PPE) was £0 Mil.
Depreciation, Depletion and Amortization(DDA) was £0 Mil.
Selling, General, & Admin. Expense(SGA) was £7 Mil.
Total Current Liabilities was £15 Mil.
Long-Term Debt & Capital Lease Obligation was £0 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)
	=	(601.952 / 3145.269)	/	(1022.244 / 0)
	=	0.191383	/
	=

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)
	=	(0 / 0)	/	(2523.507 / 3145.269)
	=		/	0.802318
	=

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 - (1256.56 + 2893.408) / 6885.269)	/	(1 - (1028.806 + 0.001) / 1033.175)
	=	0.397269	/	0.004228
	=

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
	=	3145.269	/	0
	=

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))
	=	(0.012 / (0.012 + 0.001))	/	(1264.751 / (1264.751 + 2893.408))
	=	0.923077	/	0.304161
	=

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)
	=	(2197.626 / 3145.269)	/	(7.363 / 0)
	=	0.698708	/
	=

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)
	=	((3812.562 + 1788.075) / 6885.269)	/	((0 + 15.162) / 1033.175)
	=	0.813423	/	0.014675
	=

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
	=	(-164.231 - 0	-	2147.859)	/	6885.269
	=	-0.335802

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.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Zegona Communications (CHIX:ZEGL) 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 Zegona Communications and its competitors. According to the industry distribution chart, Zegona Communications ranks #999999 out of 355 companies in the Telecommunication Services industry.

Is Zegona Communications' Beneish M-Score too high?

Zegona Communications' current Beneish M-Score is 0.00. Based on the distribution chart, Zegona Communications ranks #999999 out of 355 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Zegona Communications has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.

How does Zegona Communications' Beneish M-Score compare to TMUS and VZ?

According to the Telecommunication Services industry distribution chart, Zegona Communications ranks #999999 out of 355 companies for Beneish M-Score. This places Zegona Communications 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 Telecommunication Services company?

A good Beneish M-Score depends on the Telecommunication Services 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 Zegona Communications and its competitors. Zegona Communications'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 Zegona Communications stock overvalued right now?

Zegona Communications (CHIX:ZEGL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Zegona Communications' overall GF Score™ is 15/100 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 Zegona Communications (CHIX:ZEGL), 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.

Zegona Communications Business Description

Industry Communication Services Telecommunication Services

Comparable Companies LSE:HTWS LSE:GAMA LSE:MAI LSE:AAF LSE:BT.A TSE:9984 SHSE:600941 TMUS VZ T XTER:DTE NSE:BHARTIARTL CMCSA XZIM:ECO.ZW HKSE:00728 MEX:AMXB TSE:9432 TSE:9433 TSE:9434 SAU:7010

Other Exchanges ZEGLF:USA ZEGN:Mexico ZEG:UK 1ZG:Germany

Address 8 Sackville Street, Mayfair, London, GBR, W1S 3DG

Website https://www.zegona.com

Zegona Communications PLC is an integrated telecommunications provider of broadband, mobile and TV services and products in Spain, delivering voice, data and other value-added services. The Group serves both business-to-consumer and business-to-business markets with a diversified customer base. The Company's objective is to invest in businesses in the European Telecommunications, Media and Technology sector and improve their performance to deliver attractive shareholder returns.

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