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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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Broadridge Financial Solutions's Beneish M-Score or its related term are showing as below:
FRA:5B9'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.85 Med: -2.57 Max: -2.21
Current: -2.68
During the past 13 years, the highest Beneish M-Score of Broadridge Financial Solutions was -2.21. The lowest was -2.85. And the median was -2.57.
* 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:5B9 vs CDW, LDOS, FIS: Beneish M-Score Comparison
For the Information Technology Services subindustry, Broadridge Financial Solutions'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.
Broadridge Financial Solutions Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Broadridge Financial Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Broadridge Financial Solutions'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 Broadridge Financial Solutions 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 * 1.0223
+
0.528 * 0.9716
+
0.404 * 1.017
+
0.892 * 1.0269
+
0.115 * 1.0925
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0438
+
4.679 * -0.051869
-
0.327 * 0.9772
=
-2.68
* 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))
=
(298.471 / (298.471 + 300.242))
/
(293.459 / (293.459 + 349.63))
=
0.498521
/
0.456327
=
1.0925
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
=
(968.519 - 209.407
-
1161.853)
/
7764.52
=
-0.051869
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.
Broadridge Financial Solutions has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
Broadridge Financial Solutions (FRA:5B9) has a Beneish M-Score of -2.68 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Broadridge Financial Solutions and its competitors. According to the industry distribution chart, Broadridge Financial Solutions ranks #1055 out of 2635 companies in the Software industry, placing it in the top 40%.
Is Broadridge Financial Solutions' Beneish M-Score too high?
Broadridge Financial Solutions' current Beneish M-Score is -2.68. Based on the distribution chart, Broadridge Financial Solutions ranks #1055 out of 2635 companies in the Software industry, which is above the industry midpoint. Overall, Broadridge Financial Solutions has a GF Score™ of 83/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Broadridge Financial Solutions' Beneish M-Score compare to CDW and LDOS?
According to the Software industry distribution chart, Broadridge Financial Solutions ranks #1055 out of 2635 companies for Beneish M-Score. This puts Broadridge Financial Solutions 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 Software company?
A good Beneish M-Score depends on the Software 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 Broadridge Financial Solutions and its competitors. Broadridge Financial Solutions's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Broadridge Financial Solutions stock overvalued right now?
Based on GuruFocus' analysis, Broadridge Financial Solutions (FRA:5B9) is currently considered Significantly Undervalued. The stock's GF Value™ is €210.53, compared to a current price of €146.10 — trading 30.6% below its estimated fair value. The current Beneish M-Score is -2.68. Broadridge Financial Solutions' overall GF Score™ is 83/100 with 1 warning sign 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 Broadridge Financial Solutions (FRA:5B9), the current Beneish M-Score is -2.68 as of Aug. 12, 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 Broadridge Financial Solutions (FRA:5B9) Overvalued in 2026?
Based on GuruFocus' analysis, Broadridge Financial Solutions stock appears to be undervalued.
The current stock price of €146.10 is trading 30.6% below its estimated GF Value™ of €210.53.
GuruFocus considers Broadridge Financial Solutions to be Significantly Undervalued.
Key valuation signals for FRA:5B9:
Beneish M-Score: -2.68
GF Value™: €210.53 vs. price of €146.10 (30.6% below fair value)
No single metric tells the full story. See the FRA:5B9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Broadridge Financial Solutions, which was spun off from Automatic Data Processing in 2007, is a leading provider of investor communication and technology-driven solutions to banks, broker/dealers, traditional and alternative-asset managers, wealth managers, and corporate issuers. Broadridge is composed of two operating segments: investor communication solutions and global technology and operations.
83GF Score
Get the complete analysis for FRA:5B9
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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