EnSilica (FRA:F0Z) Beneish M-Score: -2.91 (As of Jun. 27, 2026)


FRA:F0Z EnSilica PLC FRA:F0Z
53 GF Score
Price €0.97
GF Value €0.69
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is EnSilica Beneish M-Score?

EnSilica FRA:F0Z -20.49% 53 Beneish M-Score is -2.91 as of Jun. 27, 2026. GuruFocus rates FRA:F0Z with a GF Score™ of 53/100 and a GF Value™ of €0.69 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 987 Semiconductors companies, EnSilica ranks better than 78.93% 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 -2.91 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:F0Z' s Beneish M-Score Range Over the Past 10 Years
Min: -2.91   Med: -2.49   Max: -1.62
Current: -2.91

During the past 7 years, the highest Beneish M-Score of EnSilica was -1.62. The lowest was -2.91. And the median was -2.49.

EnSilica Beneish M-Score Historical Data

* Premium members only.

The historical data trend for EnSilica'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.

EnSilica Beneish M-Score Chart

EnSilica Annual Data
Trend May19 May20 May21 May22 May23 May24 May25
Beneish M-Score
Get a 7-Day Free Trial -1.83 -2.49 -1.62 -2.78 -2.91

EnSilica Semi-Annual Data
May19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -2.78 0.00 -2.91 0.00

FRA:F0Z vs NVDA, AVGO, MU: Beneish M-Score Comparison

For the Semiconductors subindustry, EnSilica'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.

EnSilica Beneish M-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, EnSilica's Beneish M-Score distribution charts can be found below:

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


FRA:F0Z
53GF Score
EnSilica PLC FRA:F0Z
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EnSilica 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 EnSilica 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 * 1.6663+0.528 * 0.8831+0.404 * 1.1419+0.892 * 0.7288+0.115 * 0.6462
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5134+4.679 * -0.120678-0.327 * 1.296
=-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 (May25) TTM:Last Year (May24) TTM:
Total Receivables was €10.06 Mil.
Revenue was €21.53 Mil.
Gross Profit was €8.68 Mil.
Total Current Assets was €16.43 Mil.
Total Assets was €47.46 Mil.
Property, Plant and Equipment(Net PPE) was €3.99 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.98 Mil.
Selling, General, & Admin. Expense(SGA) was €10.53 Mil.
Total Current Liabilities was €17.68 Mil.
Long-Term Debt & Capital Lease Obligation was €4.20 Mil.
Net Income was €-3.23 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €2.50 Mil.
 Total Receivables was €8.28 Mil.
Revenue was €29.55 Mil.
Gross Profit was €10.52 Mil.
Total Current Assets was €18.30 Mil.
Total Assets was €43.51 Mil.
Property, Plant and Equipment(Net PPE) was €3.51 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.96 Mil.
Selling, General, & Admin. Expense(SGA) was €9.55 Mil.
Total Current Liabilities was €10.56 Mil.
Long-Term Debt & Capital Lease Obligation was €4.91 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)
=(10.06 / 21.533) / (8.284 / 29.546)
=0.46719 / 0.280376
=1.6663

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)
=(10.523 / 29.546) / (8.684 / 21.533)
=0.356157 / 0.403288
=0.8831

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 - (16.428 + 3.993) / 47.457) / (1 - (18.299 + 3.505) / 43.514)
=0.569695 / 0.49892
=1.1419

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
=21.533 / 29.546
=0.7288

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))
=(0.955 / (0.955 + 3.505)) / (1.979 / (1.979 + 3.993))
=0.214126 / 0.33138
=0.6462

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)
=(10.531 / 21.533) / (9.548 / 29.546)
=0.489063 / 0.323157
=1.5134

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)
=((4.202 + 17.675) / 47.457) / ((4.914 + 10.564) / 43.514)
=0.460986 / 0.355702
=1.296

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
=(-3.228 - 0 - 2.499) / 47.457
=-0.120678

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.

EnSilica 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 -2.91 mean?
EnSilica (FRA:F0Z) has a Beneish M-Score of -2.91 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on EnSilica and its competitors. According to the industry distribution chart, EnSilica ranks #208 out of 987 companies in the Semiconductors industry, placing it in the top 21.1%.
Is EnSilica's Beneish M-Score too high?
EnSilica's current Beneish M-Score is -2.91. Based on the distribution chart, EnSilica ranks #208 out of 987 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, EnSilica has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does EnSilica's Beneish M-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, EnSilica ranks #208 out of 987 companies for Beneish M-Score. This places EnSilica in the top 21% 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 EnSilica and its competitors. EnSilica's current Beneish M-Score is -2.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EnSilica stock overvalued right now?
Based on GuruFocus' analysis, EnSilica (FRA:F0Z) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.69, compared to a current price of €0.97 — trading 40.6% above its estimated fair value. The current Beneish M-Score is -2.91. EnSilica's overall GF Score™ is 53/100 with 4 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 EnSilica (FRA:F0Z), the current Beneish M-Score is -2.91 as of Jun. 27, 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 EnSilica (FRA:F0Z) Overvalued in 2026?

Based on GuruFocus' analysis, EnSilica stock appears to be overvalued. The current stock price of €0.97 is trading 40.6% above its estimated GF Value™ of €0.69. GuruFocus considers EnSilica to be Significantly Overvalued.

Key valuation signals for FRA:F0Z:

  • Beneish M-Score: -2.91
  • GF Value™: €0.69 vs. price of €0.97 (40.6% above fair value)
  • GF Score™: 53/100 with 4 warning signs

No single metric tells the full story. See the FRA:F0Z stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

EnSilica Business Description

Other Exchanges ENSI:UKF0Z:Germany
Address 100 Park Drive, Milton Park, Abingdon, Oxfordshire, GBR, OX14 4RY
EnSilica PLC is a fabless ASIC design company focusing on the supply of custom chips to OEMs and system houses, providing technological expertise in custom RF, mmWave, mixed signal, and digital ASICs to an international range of customers in the automotive, industrial, communications, and healthcare markets. The Company offers IC design services for companies with their own design teams and a broad portfolio of core IP covering cryptography, radar, and communications systems. it has a reputation for high-quality solutions to demanding industry standards, with a project portfolio ranging from module design to multi-million gate System-on-Chip. The Company geographically operates in the UK, India, Brazil, and Germany, deriving maximum revenue from the United Kingdom.
53GF Score

Get the complete analysis for FRA:F0Z

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

€0.97
Price
€0.69
GF Value