Capital PowerFRA:2CP +1.77%70 Beneish M-Score is -2.69 as of Jun. 24, 2026. GuruFocus rates FRA:2CP with a GF Score™ of 70/100 and a GF Value™ of €24.77 (Significantly Overvalued). The stock has 15 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Capital Power ranks better than 60% 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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Capital Power's Beneish M-Score or its related term are showing as below:
FRA:2CP'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.1 Med: -2.56 Max: -1.75
Current: -2.69
During the past 13 years, the highest Beneish M-Score of Capital Power was -1.75. The lowest was -3.10. And the median was -2.56.
Capital Power Beneish M-Score Related Terms
Capital Power Beneish M-Score Historical Data
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The historical data trend for Capital Power'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.
FRA:2CP vs CEG, VST, NRG: Beneish M-Score Comparison
For the Utilities - Independent Power Producers subindustry, Capital Power'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.
Capital Power Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Capital Power's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Capital Power'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 Capital Power 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 * 1.0486
+
0.528 * 1.3073
+
0.404 * 0.75
+
0.892 * 1.0148
+
0.115 * 1.1934
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.95
+
4.679 * -0.069984
-
0.327 * 1.1305
=
-2.70
* 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))
=
(336.839 / (336.839 + 5286.727))
/
(385.426 / (385.426 + 7293.867))
=
0.059898
/
0.05019
=
1.1934
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
=
(12.523 - 38.802
-
663.136)
/
9851.039
=
-0.069984
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.
Capital Power has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Capital Power (FRA:2CP) has a Beneish M-Score of -2.69 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Capital Power and its competitors. According to the industry distribution chart, Capital Power ranks #156 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 40%.
Is Capital Power's Beneish M-Score too high?
Capital Power's current Beneish M-Score is -2.69. Based on the distribution chart, Capital Power ranks #156 out of 390 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Capital Power has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Capital Power's Beneish M-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Capital Power ranks #156 out of 390 companies for Beneish M-Score. This puts Capital Power 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Capital Power and its competitors. Capital Power's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Capital Power stock overvalued right now?
Based on GuruFocus' analysis, Capital Power (FRA:2CP) is currently considered Significantly Overvalued. The stock's GF Value™ is €24.77, compared to a current price of €46.00 — trading 85.7% above its estimated fair value. The current Beneish M-Score is -2.69. Capital Power's overall GF Score™ is 70/100 with 15 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 Capital Power (FRA:2CP), the current Beneish M-Score is -2.69 as of Jun. 24, 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 Capital Power (FRA:2CP) Overvalued in 2026?
Based on GuruFocus' analysis, Capital Power stock appears to be overvalued.
The current stock price of €46.00 is trading 85.7% above its estimated GF Value™ of €24.77.
GuruFocus considers Capital Power to be Significantly Overvalued.
Key valuation signals for FRA:2CP:
Beneish M-Score: -2.69
GF Value™: €24.77 vs. price of €46.00 (85.7% above fair value)
No single metric tells the full story. See the FRA:2CP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S. Capital Power's natural gas and coal facilities, specifically its Genesee and Shepard sites, account for its electric capacity and cash flow production. The company generates the vast majority of its revenue from sale of electricity and natural gas. The company's customers include a variety of industrial and commercial consumers, independent transmission system operators, and government-owned entities.
70GF Score
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