Ferrari NVFRA:2FE -0.87%91 Beneish M-Score is -2.78 as of Jun. 24, 2026. GuruFocus rates FRA:2FE with a GF Score™ of 91/100 and a GF Value™ of €432.69 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,273 Vehicles & Parts companies, Ferrari NV ranks better than 72.74% 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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ferrari NV's Beneish M-Score or its related term are showing as below:
FRA:2FE'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.67 Max: -2.34
Current: -2.78
During the past 13 years, the highest Beneish M-Score of Ferrari NV was -2.34. The lowest was -3.52. And the median was -2.67.
Ferrari NV Beneish M-Score Related Terms
Ferrari NV Beneish M-Score Historical Data
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The historical data trend for Ferrari 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.
FRA:2FE vs TSLA, GM, F: Beneish M-Score Comparison
For the Auto Manufacturers subindustry, Ferrari 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.
Ferrari NV Beneish M-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Ferrari NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ferrari 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 Ferrari 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 * 0.987
+
0.528 * 0.979
+
0.404 * 0.9946
+
0.892 * 1.0465
+
0.115 * 1.0419
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.066
+
4.679 * -0.072239
-
0.327 * 0.9079
=
-2.78
* 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))
=
(654.967 / (654.967 + 1921.511))
/
(684.685 / (684.685 + 2121.571))
=
0.25421
/
0.243985
=
1.0419
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
=
(1598.139 - -28.044
-
2365.772)
/
10238.055
=
-0.072239
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.
Ferrari NV has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
Ferrari NV (FRA:2FE) has a Beneish M-Score of -2.78 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ferrari NV and its competitors. According to the industry distribution chart, Ferrari NV ranks #347 out of 1273 companies in the Vehicles & Parts industry, placing it in the top 27.3%.
Is Ferrari NV's Beneish M-Score too high?
Ferrari NV's current Beneish M-Score is -2.78. Based on the distribution chart, Ferrari NV ranks #347 out of 1273 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Ferrari NV has a GF Score™ of 91/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ferrari NV's Beneish M-Score compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Ferrari NV ranks #347 out of 1273 companies for Beneish M-Score. This puts Ferrari 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Ferrari NV and its competitors. Ferrari NV's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ferrari NV stock overvalued right now?
Based on GuruFocus' analysis, Ferrari NV (FRA:2FE) is currently considered Significantly Undervalued. The stock's GF Value™ is €432.69, compared to a current price of €302.50 — trading 30.1% below its estimated fair value. The current Beneish M-Score is -2.78. Ferrari NV's overall GF Score™ is 91/100 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 Ferrari NV (FRA:2FE), the current Beneish M-Score is -2.78 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 Ferrari NV (FRA:2FE) Overvalued in 2026?
Based on GuruFocus' analysis, Ferrari NV stock appears to be undervalued.
The current stock price of €302.50 is trading 30.1% below its estimated GF Value™ of €432.69.
GuruFocus considers Ferrari NV to be Significantly Undervalued.
Key valuation signals for FRA:2FE:
Beneish M-Score: -2.78
GF Value™: €432.69 vs. price of €302.50 (30.1% below fair value)
No single metric tells the full story. See the FRA:2FE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2025, the company sold 13,640 vehicles at an average price over EUR 520,000 with more than 80% of its vehicles being sold to existing Ferrari clients. Eighty-four percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2025, the Europe, Middle East, and Africa region accounted for 49% of revenue, the Americas was 32%, mainland China, Hong Kong, and Taiwan was 7%, and the rest of Asia was 12%.
91GF Score
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