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 -3.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kraken Robotics's Beneish M-Score or its related term are showing as below:
FRA:2KQ'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.45 Med: -1.13 Max: 30.52
Current: -3.03
During the past 13 years, the highest Beneish M-Score of Kraken Robotics was 30.52. The lowest was -5.45. And the median was -1.13.
Kraken Robotics Beneish M-Score Related Terms
Kraken Robotics Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Kraken Robotics'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:2KQ vs COHR, KEYS, GRMN: Beneish M-Score Comparison
For the Scientific & Technical Instruments subindustry, Kraken Robotics'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.
Kraken Robotics Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Kraken Robotics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kraken Robotics'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 Kraken Robotics 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 * 0.8966
+
0.528 * 0.8629
+
0.404 * 0.5986
+
0.892 * 1.1667
+
0.115 * 1.0068
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.5644
+
4.679 * 0.010113
-
0.327 * 2.0956
=
-3.07
* 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))
=
(3.903 / (3.903 + 21.956))
/
(6.488 / (6.488 + 36.788))
=
0.150934
/
0.149921
=
1.0068
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
=
(-0.481 - -1.103
-
-3.943)
/
451.381
=
0.010113
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.
Kraken Robotics has a M-score of -3.07 suggests that the company is unlikely to be a manipulator.
Kraken Robotics (FRA:2KQ) has a Beneish M-Score of -3.03 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kraken Robotics and its competitors. According to the industry distribution chart, Kraken Robotics ranks #398 out of 2404 companies in the Hardware industry, placing it in the top 16.6%.
Is Kraken Robotics' Beneish M-Score too high?
Kraken Robotics' current Beneish M-Score is -3.03. Based on the distribution chart, Kraken Robotics ranks #398 out of 2404 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Kraken Robotics has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kraken Robotics' Beneish M-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, Kraken Robotics ranks #398 out of 2404 companies for Beneish M-Score. This places Kraken Robotics in the top 17% of its industry — outperforming the majority of peers. 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Kraken Robotics and its competitors. Kraken Robotics's current Beneish M-Score is -3.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kraken Robotics stock overvalued right now?
Based on GuruFocus' analysis, Kraken Robotics (FRA:2KQ) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.23, compared to a current price of €4.25 — trading 245.5% above its estimated fair value. The current Beneish M-Score is -3.03. Kraken Robotics' overall GF Score™ is 69/100 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 Kraken Robotics (FRA:2KQ), the current Beneish M-Score is -3.03 as of Jun. 26, 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 Kraken Robotics (FRA:2KQ) Overvalued in 2026?
Based on GuruFocus' analysis, Kraken Robotics stock appears to be overvalued.
The current stock price of €4.25 is trading 245.5% above its estimated GF Value™ of €1.23.
GuruFocus considers Kraken Robotics to be Significantly Overvalued.
Key valuation signals for FRA:2KQ:
Beneish M-Score: -3.03
GF Value™: €1.23 vs. price of €4.25 (245.5% above fair value)
No single metric tells the full story. See the FRA:2KQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kraken Robotics Inc is a Canadian company that supplies sonar and optical sensors, batteries, and underwater robotics equipment and services for military and commercial applications. The company operates in the business segments of Products segment, which is the design, manufacture, and sale of equipment, including underwater vehicle platforms, Synthetic Aperture Sonar, and subsea power equipment; and the Services segment, which is the provision of services for underwater sonar and laser scanner sensor equipment and underwater vehicle platforms. The company generates the majority of its revenue from the Products segment. Geographically, Asia Pacific; Europe, Middle East and Africa, North America, and Other, where, Asia Pacific earns majority of its revenue.
69GF Score
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