Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for TerraVest Industries's Beneish M-Score or its related term are showing as below:
FRA:4TV'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.19 Med: -2.46 Max: -1.41
Current: -2.57
During the past 13 years, the highest Beneish M-Score of TerraVest Industries was -1.41. The lowest was -4.19. And the median was -2.46.
TerraVest Industries Beneish M-Score Related Terms
TerraVest Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for TerraVest Industries'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:4TV vs SLB, BKR, FTI: Beneish M-Score Comparison
For the Oil & Gas Equipment & Services subindustry, TerraVest Industries'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.
TerraVest Industries Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TerraVest Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where TerraVest Industries'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 TerraVest Industries 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 * 0.8494
+
0.528 * 1.0956
+
0.404 * 0.8707
+
0.892 * 1.3987
+
0.115 * 0.7907
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.922
+
4.679 * -0.069439
-
0.327 * 1.0365
=
-2.61
* 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))
=
(60.523 / (60.523 + 324.906))
/
(103.551 / (103.551 + 417.897))
=
0.157028
/
0.198584
=
0.7907
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
=
(57.361 - 35.372
-
123.389)
/
1460.271
=
-0.069439
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.
TerraVest Industries has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
TerraVest Industries (FRA:4TV) has a Beneish M-Score of -2.57 as of Aug. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on TerraVest Industries and its competitors. According to the industry distribution chart, TerraVest Industries ranks #459 out of 833 companies in the Oil & Gas industry, placing it in the top 55.1%.
Is TerraVest Industries' Beneish M-Score too high?
TerraVest Industries' current Beneish M-Score is -2.57. Based on the distribution chart, TerraVest Industries ranks #459 out of 833 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, TerraVest Industries has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TerraVest Industries' Beneish M-Score compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, TerraVest Industries ranks #459 out of 833 companies for Beneish M-Score. This places TerraVest Industries 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 TerraVest Industries and its competitors. TerraVest Industries's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TerraVest Industries stock overvalued right now?
Based on GuruFocus' analysis, TerraVest Industries (FRA:4TV) is currently considered Modestly Undervalued. The stock's GF Value™ is €95.52, compared to a current price of €74.50 — trading 22% below its estimated fair value. The current Beneish M-Score is -2.57. TerraVest Industries' overall GF Score™ is 73/100 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 TerraVest Industries (FRA:4TV), the current Beneish M-Score is -2.57 as of Aug. 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 TerraVest Industries (FRA:4TV) Overvalued in 2026?
Based on GuruFocus' analysis, TerraVest Industries stock appears to be undervalued.
The current stock price of €74.50 is trading 22% below its estimated GF Value™ of €95.52.
GuruFocus considers TerraVest Industries to be Modestly Undervalued.
Key valuation signals for FRA:4TV:
Beneish M-Score: -2.57
GF Value™: €95.52 vs. price of €74.50 (22% below fair value)
No single metric tells the full story. See the FRA:4TV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TerraVest Industries Inc manufactures home heating products, propane, anhydrous ammonia, natural gas liquids transport vehicles, storage vessels, energy processing equipment, and fiberglass storage tanks. The company's operating segments include Home Heating and Cooling Products and Containment Equipment (HVAC Equipment), Compressed Gas Storage and Distribution Equipment (Compressed Gas Equipment), Energy Processing Equipment (Processing Equipment), and Service. The majority of its revenue is generated from its HVAC and Cooling Products and Containment Equipment segment which manufactures and distributes products including commercial and residential refined fuel tanks, wastewater treatment systems, grease removal systems, and other custom-built steel storage products.
73GF Score
Get the complete analysis for FRA:4TV
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:4TV has been successfully added to your 
