Cimpress (FRA:3UF) Beneish M-Score: -2.84 (As of Jul. 02, 2026)


FRA:3UF Cimpress PLC FRA:3UF
82 GF Score
Price €88.65
GF Value €70.32
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Cimpress Beneish M-Score?

Cimpress FRA:3UF +3.26% 82 Beneish M-Score is -2.84 as of Jul. 02, 2026. GuruFocus rates FRA:3UF with a GF Score™ of 82/100 and a GF Value™ of €70.32 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,021 Business Services companies, Cimpress ranks better than 71.89% 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cimpress's Beneish M-Score or its related term are showing as below:

FRA:3UF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52   Med: -2.92   Max: -2.23
Current: -2.84

During the past 13 years, the highest Beneish M-Score of Cimpress was -2.23. The lowest was -3.52. And the median was -2.92.


Cimpress Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cimpress'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.

Cimpress Beneish M-Score Chart

Cimpress Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.71 -2.97 -3.16 -2.95 -3.05

Cimpress Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.92 -3.05 -3.08 -2.84 -2.84

FRA:3UF vs TH, TIC, ABM: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Cimpress'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.


Cimpress Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Cimpress's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cimpress's Beneish M-Score falls into.


FRA:3UF
82GF Score
Cimpress PLC FRA:3UF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cimpress Beneish M-Score Calculation

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 Cimpress 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 * 1.0207+0.528 * 1.022+0.404 * 0.9393+0.892 * 1.0064+0.115 * 1.1584
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9746+4.679 * -0.101144-0.327 * 0.9466
=-2.90

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was €63 Mil.
Revenue was 766.571 + 890.041 + 735.512 + 753.842 = €3,146 Mil.
Gross Profit was 353.955 + 416.511 + 343.186 + 357.898 = €1,472 Mil.
Total Current Assets was €429 Mil.
Total Assets was €1,777 Mil.
Property, Plant and Equipment(Net PPE) was €398 Mil.
Depreciation, Depletion and Amortization(DDA) was €126 Mil.
Selling, General, & Admin. Expense(SGA) was €937 Mil.
Total Current Liabilities was €631 Mil.
Long-Term Debt & Capital Lease Obligation was €1,468 Mil.
Net Income was 11.971 + 42.14 + 6.507 + -21.951 = €39 Mil.
Non Operating Income was -0.202 + 0.361 + 2.688 + -25.253 = €-22 Mil.
Cash Flow from Operations was -14.292 + 140.62 + 21.35 + 93.178 = €241 Mil.
Total Receivables was €61 Mil.
Revenue was 730.258 + 896.897 + 725.277 + 773.496 = €3,126 Mil.
Gross Profit was 344.57 + 429.657 + 344.392 + 375.709 = €1,494 Mil.
Total Current Assets was €410 Mil.
Total Assets was €1,737 Mil.
Property, Plant and Equipment(Net PPE) was €338 Mil.
Depreciation, Depletion and Amortization(DDA) was €131 Mil.
Selling, General, & Admin. Expense(SGA) was €955 Mil.
Total Current Liabilities was €629 Mil.
Long-Term Debt & Capital Lease Obligation was €1,539 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(62.853 / 3145.966) / (61.185 / 3125.928)
=0.019979 / 0.019573
=1.0207

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(1494.328 / 3125.928) / (1471.55 / 3145.966)
=0.478043 / 0.467758
=1.022

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (428.874 + 397.942) / 1777.494) / (1 - (410.432 + 337.691) / 1737.442)
=0.534842 / 0.569411
=0.9393

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=3145.966 / 3125.928
=1.0064

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(130.51 / (130.51 + 337.691)) / (126.103 / (126.103 + 397.942))
=0.278748 / 0.240634
=1.1584

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(936.805 / 3145.966) / (955.141 / 3125.928)
=0.29778 / 0.305554
=0.9746

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1467.63 + 631.451) / 1777.494) / ((1538.878 + 628.724) / 1737.442)
=1.180922 / 1.247582
=0.9466

8. TATA = Total Accruals to Total Assets

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
=(38.667 - -22.406 - 240.856) / 1777.494
=-0.101144

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.

Cimpress has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.84 mean?
Cimpress (FRA:3UF) has a Beneish M-Score of -2.84 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cimpress and its competitors. According to the industry distribution chart, Cimpress ranks #287 out of 1021 companies in the Business Services industry, placing it in the top 28.1%.
Is Cimpress' Beneish M-Score too high?
Cimpress' current Beneish M-Score is -2.84. Based on the distribution chart, Cimpress ranks #287 out of 1021 companies in the Business Services industry, which is above the industry midpoint. Overall, Cimpress has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cimpress' Beneish M-Score compare to TH and TIC?
According to the Business Services industry distribution chart, Cimpress ranks #287 out of 1021 companies for Beneish M-Score. This puts Cimpress 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Cimpress and its competitors. Cimpress's current Beneish M-Score is -2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cimpress stock overvalued right now?
Based on GuruFocus' analysis, Cimpress (FRA:3UF) is currently considered Modestly Overvalued. The stock's GF Value™ is €70.32, compared to a current price of €88.65 — trading 26.1% above its estimated fair value. The current Beneish M-Score is -2.84. Cimpress' overall GF Score™ is 82/100 with 5 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 Cimpress (FRA:3UF), the current Beneish M-Score is -2.84 as of Jul. 02, 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 Cimpress (FRA:3UF) Overvalued in 2026?

Based on GuruFocus' analysis, Cimpress stock appears to be overvalued. The current stock price of €88.65 is trading 26.1% above its estimated GF Value™ of €70.32. GuruFocus considers Cimpress to be Modestly Overvalued.

Key valuation signals for FRA:3UF:

  • Beneish M-Score: -2.84
  • GF Value™: €70.32 vs. price of €88.65 (26.1% above fair value)
  • GF Score™: 82/100 with 5 warning signs

No single metric tells the full story. See the FRA:3UF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Cimpress Business Description

Other Exchanges CMPR:USA
Address Finnabair Business and Technology Park, First Floor, Building 3, Dundalk, Louth, IRL, A91 XR61
Cimpress PLC invests in and builds customer-focused, entrepreneurial, mass-customization businesses for the long term. Mass customization seeks to produce goods and services to meet individual customer needs with near mass production efficiency. Its products and services include a broad range of marketing materials, business cards, signage, promotional products, logo apparel, packaging, books and magazines, wall decor, photo merchandise, invitations and announcements, design and digital marketing services, and other categories. The company's segment includes Vista; PrintBrothers; The Print Group; National Pen and All Other Businesses. It generates maximum revenue from the Vista segment.
82GF Score

Get the complete analysis for FRA:3UF

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€88.65
Price
€70.32
GF Value