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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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Gibraltar Industries's Beneish M-Score or its related term are showing as below:
FRA:GI2'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.38 Med: -2.63 Max: -1.93
Current: -2.7
During the past 13 years, the highest Beneish M-Score of Gibraltar Industries was -1.93. The lowest was -3.38. And the median was -2.63.
Gibraltar Industries Beneish M-Score Related Terms
Gibraltar Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Gibraltar 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:GI2 vs ARLO, NPKI, LMB: Beneish M-Score Comparison
For the Building Products & Equipment subindustry, Gibraltar 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.
Gibraltar Industries Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Gibraltar Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gibraltar 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 Gibraltar 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 * 1.1893
+
0.528 * 1.1501
+
0.404 * 1.6683
+
0.892 * 1.2872
+
0.115 * 1.0632
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1392
+
4.679 * -0.078983
-
0.327 * 2.8511
=
-2.69
* 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))
=
(23.319 / (23.319 + 156.763))
/
(42.683 / (42.683 + 307.762))
=
0.129491
/
0.121797
=
1.0632
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
=
(-129.225 - 1.673
-
60.123)
/
2418.495
=
-0.078983
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.
Gibraltar Industries has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
Gibraltar Industries (FRA:GI2) has a Beneish M-Score of -2.70 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gibraltar Industries and its competitors. According to the industry distribution chart, Gibraltar Industries ranks #561 out of 1707 companies in the Construction industry, placing it in the top 32.9%.
Is Gibraltar Industries' Beneish M-Score too high?
Gibraltar Industries' current Beneish M-Score is -2.70. Based on the distribution chart, Gibraltar Industries ranks #561 out of 1707 companies in the Construction industry, which is above the industry midpoint. Overall, Gibraltar Industries has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Gibraltar Industries' Beneish M-Score compare to ARLO and NPKI?
According to the Construction industry distribution chart, Gibraltar Industries ranks #561 out of 1707 companies for Beneish M-Score. This puts Gibraltar Industries 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Gibraltar Industries and its competitors. Gibraltar Industries's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gibraltar Industries stock overvalued right now?
Based on GuruFocus' analysis, Gibraltar Industries (FRA:GI2) is currently considered Possible Value Trap. The stock's GF Value™ is €79.52, compared to a current price of €40.80 — trading 48.7% below its estimated fair value. The current Beneish M-Score is -2.70. Gibraltar Industries' overall GF Score™ is 67/100 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 Gibraltar Industries (FRA:GI2), the current Beneish M-Score is -2.70 as of Aug. 17, 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 Gibraltar Industries (FRA:GI2) Overvalued in 2026?
Based on GuruFocus' analysis, Gibraltar Industries stock appears to be undervalued.
The current stock price of €40.80 is trading 48.7% below its estimated GF Value™ of €79.52.
GuruFocus considers Gibraltar Industries to be Possible Value Trap.
Key valuation signals for FRA:GI2:
Beneish M-Score: -2.70
GF Value™: €79.52 vs. price of €40.80 (48.7% below fair value)
No single metric tells the full story. See the FRA:GI2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gibraltar Industries Inc manufactures and provides products and services for the Renewable energy, Residential, Agtech, and Infrastructure markets. The Renewable Segment is engaged in designing, engineering, manufacturing, and installing solar racking and electrical balance systems. Agtech Segment provides growing and processing solutions including the designing, engineering, manufacturing, full-scope construction, maintenance, and support of greenhouses and indoor growing operations, and botanical extraction systems. It derives key revenue from the Residential segment which offers roof and foundation ventilation products, single point and centralized mail systems electronic package solutions, and Retractable awnings and gutter guards, among other products.
67GF Score
Get the complete analysis for FRA:GI2
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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