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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 -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Stevanato Group SpA's Beneish M-Score or its related term are showing as below:
FRA:87N'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.66 Med: -2.28 Max: 0.42
Current: -2.61
During the past 8 years, the highest Beneish M-Score of Stevanato Group SpA was 0.42. The lowest was -2.66. And the median was -2.28.
Stevanato Group SpA Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Stevanato Group SpA'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:87N vs MMED, TFX, MMSI: Beneish M-Score Comparison
For the Medical Instruments & Supplies subindustry, Stevanato Group SpA'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.
Stevanato Group SpA Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Stevanato Group SpA's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Stevanato Group SpA'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 Stevanato Group SpA 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 * 1.049
+
0.528 * 0.9612
+
0.404 * 0.908
+
0.892 * 1.07
+
0.115 * 0.9715
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0238
+
4.679 * -0.037563
-
0.327 * 0.9787
=
-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))
=
(80.334 / (80.334 + 1293.714))
/
(95.213 / (95.213 + 1486.966))
=
0.058465
/
0.060178
=
0.9715
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
=
(134.577 - -15.734
-
248.68)
/
2618.744
=
-0.037563
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.
Stevanato Group SpA has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
Stevanato Group SpA (FRA:87N) has a Beneish M-Score of -2.61 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Stevanato Group SpA and its competitors. According to the industry distribution chart, Stevanato Group SpA ranks #342 out of 772 companies in the Medical Devices & Instruments industry, placing it in the top 44.3%.
Is Stevanato Group SpA's Beneish M-Score too high?
Stevanato Group SpA's current Beneish M-Score is -2.61. Based on the distribution chart, Stevanato Group SpA ranks #342 out of 772 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Stevanato Group SpA has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Stevanato Group SpA's Beneish M-Score compare to MMED and TFX?
According to the Medical Devices & Instruments industry distribution chart, Stevanato Group SpA ranks #342 out of 772 companies for Beneish M-Score. This puts Stevanato Group SpA 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Stevanato Group SpA and its competitors. Stevanato Group SpA's current Beneish M-Score is -2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stevanato Group SpA stock overvalued right now?
Based on GuruFocus' analysis, Stevanato Group SpA (FRA:87N) is currently considered Modestly Undervalued. The stock's GF Value™ is €22.30, compared to a current price of €17.40 — trading 22% below its estimated fair value. The current Beneish M-Score is -2.61. Stevanato Group SpA's overall GF Score™ is 87/100 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 Stevanato Group SpA (FRA:87N), the current Beneish M-Score is -2.61 as of Sep. 09, 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 Stevanato Group SpA (FRA:87N) Overvalued in 2026?
Based on GuruFocus' analysis, Stevanato Group SpA stock appears to be undervalued.
The current stock price of €17.40 is trading 22% below its estimated GF Value™ of €22.30.
GuruFocus considers Stevanato Group SpA to be Modestly Undervalued.
Key valuation signals for FRA:87N:
Beneish M-Score: -2.61
GF Value™: €22.30 vs. price of €17.40 (22% below fair value)
No single metric tells the full story. See the FRA:87N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Stevanato Group SpA is a provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. It delivers an integrated, end-to-end portfolio of products, processes, and services that address customer needs across the entire drug life cycle including development, clinical, and commercial stages. It has two segments; Biopharmaceutical and Diagnostic Solutions which generates key revenue, includes all the products, processes and services developed and provided for the containment and delivery of pharmaceutical and biotechnology drugs and reagents, as well as the production of diagnostic consumables and its other segment is Engineering. Geographically, It derives its majority revenue from Europe, Middle East and Africa.
87GF Score
Get the complete analysis for FRA:87N
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