2020 BulkersFRA:0FF +8.15%56 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates FRA:0FF with a GF Score™ of 56/100 and a GF Value™ of €7.80 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 966 Transportation companies, 2020 Bulkers ranks worse than 103519.57% 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 2020 Bulkers's Beneish M-Score or its related term are showing as below:
During the past 9 years, the highest Beneish M-Score of 2020 Bulkers was 12.86. The lowest was -3.47. And the median was 0.07.
2020 Bulkers Beneish M-Score Related Terms
2020 Bulkers Beneish M-Score Historical Data
* Premium members only.
The historical data trend for 2020 Bulkers'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 Marine Shipping subindustry, 2020 Bulkers'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.
2020 Bulkers Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, 2020 Bulkers's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where 2020 Bulkers'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 2020 Bulkers 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 *
+
0.528 *
+
0.404 *
+
0.892 *
+
0.115 *
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 *
+
4.679 *
-
0.327 *
=
* 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))
=
(9.277 / (9.277 + 229.03))
/
(5.15 / (5.15 + 0))
=
0.038929
/
1
=
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
=
(25.077 - 0
-
26.926)
/
273.772
=
-0.006754
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.
2020 Bulkers (FRA:0FF) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on 2020 Bulkers and its competitors. According to the industry distribution chart, 2020 Bulkers ranks #999999 out of 966 companies in the Transportation industry.
Is 2020 Bulkers' Beneish M-Score too high?
2020 Bulkers' current Beneish M-Score is 0.00. Based on the distribution chart, 2020 Bulkers ranks #999999 out of 966 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, 2020 Bulkers has a GF Score™ of 56/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does 2020 Bulkers' Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, 2020 Bulkers ranks #999999 out of 966 companies for Beneish M-Score. This places 2020 Bulkers 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 2020 Bulkers and its competitors. 2020 Bulkers'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 2020 Bulkers stock overvalued right now?
Based on GuruFocus' analysis, 2020 Bulkers (FRA:0FF) is currently considered Significantly Undervalued. The stock's GF Value™ is €7.80, compared to a current price of €0.32 — trading 95.9% below its estimated fair value. The current Beneish M-Score is 0.00. 2020 Bulkers' overall GF Score™ is 56/100 with 4 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 2020 Bulkers (FRA:0FF), the current Beneish M-Score is 0.00 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 2020 Bulkers (FRA:0FF) Overvalued in 2026?
Based on GuruFocus' analysis, 2020 Bulkers stock appears to be undervalued.
The current stock price of €0.32 is trading 95.9% below its estimated GF Value™ of €7.80.
GuruFocus considers 2020 Bulkers to be Significantly Undervalued.
Key valuation signals for FRA:0FF:
Beneish M-Score: 0.00
GF Value™: €7.80 vs. price of €0.32 (95.9% below fair value)
No single metric tells the full story. See the FRA:0FF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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