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 -2.79 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Colruyt Group NV's Beneish M-Score or its related term are showing as below:
CUYTY'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.88 Med: -2.77 Max: -2.31
Current: -2.79
During the past 13 years, the highest Beneish M-Score of Colruyt Group NV was -2.31. The lowest was -2.88. And the median was -2.77.
Colruyt Group NV Beneish M-Score Related Terms
Colruyt Group NV Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Colruyt Group 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.
For the Grocery Stores subindustry, Colruyt Group 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.
Colruyt Group NV Beneish M-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Colruyt Group NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Colruyt Group NV'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 Colruyt Group 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 * 0.9345
+
0.528 * 0.9934
+
0.404 * 1.0703
+
0.892 * 1.0055
+
0.115 * 1.0917
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0239
+
4.679 * -0.062075
-
0.327 * 0.9911
=
-2.79
* 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))
=
(467.717 / (467.717 + 3207.826))
/
(445.514 / (445.514 + 3376.649))
=
0.127251
/
0.116561
=
1.0917
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
=
(364.649 - 0
-
798.486)
/
6988.865
=
-0.062075
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.
Colruyt Group NV has a M-score of -2.79 suggests that the company is unlikely to be a manipulator.
Colruyt Group NV (CUYTY) has a Beneish M-Score of -2.79 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Colruyt Group NV and its competitors. According to the industry distribution chart, Colruyt Group NV ranks #97 out of 293 companies in the Retail - Defensive industry, placing it in the top 33.1%.
Is Colruyt Group NV's Beneish M-Score too high?
Colruyt Group NV's current Beneish M-Score is -2.79. Based on the distribution chart, Colruyt Group NV ranks #97 out of 293 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Colruyt Group NV has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Colruyt Group NV's Beneish M-Score compare to KR and SFM?
According to the Retail - Defensive industry distribution chart, Colruyt Group NV ranks #97 out of 293 companies for Beneish M-Score. This puts Colruyt Group NV 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Colruyt Group NV and its competitors. Colruyt Group NV's current Beneish M-Score is -2.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Colruyt Group NV stock overvalued right now?
Based on GuruFocus' analysis, Colruyt Group NV (CUYTY) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.13, compared to a current price of $10.20 — trading 27.8% below its estimated fair value. The current Beneish M-Score is -2.79. Colruyt Group NV's overall GF Score™ is 72/100 with 2 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 Colruyt Group NV (CUYTY), the current Beneish M-Score is -2.79 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 Colruyt Group NV (CUYTY) Overvalued in 2026?
Based on GuruFocus' analysis, Colruyt Group NV stock appears to be undervalued.
The current stock price of $10.20 is trading 27.8% below its estimated GF Value™ of $14.13.
GuruFocus considers Colruyt Group NV to be Modestly Undervalued.
Key valuation signals for CUYTY:
Beneish M-Score: -2.79
GF Value™: $14.13 vs. price of $10.20 (27.8% below fair value)
No single metric tells the full story. See the CUYTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Colruyt Group NV is a retail group that operates in the areas of expertise Food, Health and Well-being, Non-Food and Energy, mainly in Belgium, but also in other countries, including France and Luxembourg. It operates a chain of supermarkets under the Colruyt brand, offering products at low prices through both physical outlets and webshops. The group is also active in the wholesale segment through Spar stores and the Solucious food service, among other initiatives. Its operating segments are: Food; Health and Well-being and Non-food; and Group activities, Real Estate and Energy. The majority of its revenue is generated from the Food segment, which offers a diverse range of food brands and sells directly to bulk and other consumers through its own stores and online channels (retail).
72GF Score
Get the complete analysis for CUYTY
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CUYTY has been successfully added to your 
