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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 Grand Canyon Education's Beneish M-Score or its related term are showing as below:
FRA:GKD'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.76 Med: -2.6 Max: 146.05
Current: -2.7
During the past 13 years, the highest Beneish M-Score of Grand Canyon Education was 146.05. The lowest was -3.76. And the median was -2.60.
Grand Canyon Education Beneish M-Score Related Terms
Grand Canyon Education Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Grand Canyon Education'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:GKD vs LRN, CVSA, GHC: Beneish M-Score Comparison
For the Education & Training Services subindustry, Grand Canyon Education'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.
Grand Canyon Education Beneish M-Score vs Education Industry
For the Education industry and Consumer Defensive sector, Grand Canyon Education's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Grand Canyon Education's Beneish M-Score falls into.
Grand Canyon Education 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 Grand Canyon Education 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 * 0.9227
+
0.528 * 0.9913
+
0.404 * 1.0443
+
0.892 * 0.9941
+
0.115 * 0.9313
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.993
+
4.679 * -0.039189
-
0.327 * 1.1003
=
-2.77
* 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))
=
(34.651 / (34.651 + 253.281))
/
(35.061 / (35.061 + 236.276))
=
0.120344
/
0.129216
=
0.9313
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
=
(189.13 - -31.874
-
253.814)
/
837.228
=
-0.039189
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.
Grand Canyon Education has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
Grand Canyon Education (FRA:GKD) has a Beneish M-Score of -2.70 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grand Canyon Education and its competitors. According to the industry distribution chart, Grand Canyon Education ranks #95 out of 238 companies in the Education industry, placing it in the top 39.9%.
Is Grand Canyon Education's Beneish M-Score too high?
Grand Canyon Education's current Beneish M-Score is -2.70. Based on the distribution chart, Grand Canyon Education ranks #95 out of 238 companies in the Education industry, which is above the industry midpoint. Overall, Grand Canyon Education has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Grand Canyon Education's Beneish M-Score compare to LRN and CVSA?
According to the Education industry distribution chart, Grand Canyon Education ranks #95 out of 238 companies for Beneish M-Score. This puts Grand Canyon Education 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 an Education company?
A good Beneish M-Score depends on the Education 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 Grand Canyon Education and its competitors. Grand Canyon Education'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 Grand Canyon Education stock overvalued right now?
Grand Canyon Education (FRA:GKD) has a current Beneish M-Score of -2.70. The stock's GF Value™ is €158.78, compared to a current price of €119.60 — trading 24.7% below its estimated fair value. The current Beneish M-Score is -2.70. Grand Canyon Education's overall GF Score™ is 83/100 with 2 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 Grand Canyon Education (FRA:GKD), the current Beneish M-Score is -2.70 as of Jul. 23, 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 Grand Canyon Education (FRA:GKD) Overvalued in 2026?
Based on GuruFocus' analysis, Grand Canyon Education stock appears to be undervalued.
The current stock price of €119.60 is trading 24.7% below its estimated GF Value™ of €158.78.
Key valuation signals for FRA:GKD:
Beneish M-Score: -2.70
GF Value™: €158.78 vs. price of €119.60 (24.7% below fair value)
No single metric tells the full story. See the FRA:GKD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Grand Canyon Education Inc is a publicly traded education services company dedicated to serving colleges and universities. GCE's university partner is Grand Canyon University, an Arizona non-profit corporation that operates a comprehensive regionally accredited university that offers graduate and undergraduate degree programs, emphases, and certificates across nine colleges, both online and on the ground at its campus in Phoenix, Arizona, and at four off-site classroom andlaboratory sites. The Company generates all of its revenue through service agreements with its university partners.
83GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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