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Hyster YaleFRA:HYEA +1.38%69 Beneish M-Score is -2.79 as of Aug. 26, 2026. GuruFocus rates FRA:HYEA with a GF Score™ of 69/100 and a GF Value™ of €31.24 (Fairly Valued). The stock has 4 warning signs investors should review. Among 207 Farm & Heavy Construction Machinery companies, Hyster Yale ranks better than 76.81% 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 -2.79 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Hyster Yale's Beneish M-Score or its related term are showing as below:
FRA:HYEA'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.56 Max: -1.68
Current: -2.79
During the past 13 years, the highest Beneish M-Score of Hyster Yale was -1.68. The lowest was -3.00. And the median was -2.56.
The historical data trend for Hyster Yale'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:HYEA vs WNC, TWI, MTW: Beneish M-Score Comparison
For the Farm & Heavy Construction Machinery subindustry, Hyster Yale'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.
Hyster Yale Beneish M-Score vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Hyster Yale's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hyster Yale'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 Hyster Yale 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 * 1.1333
+
0.528 * 1.2312
+
0.404 * 1.1567
+
0.892 * 0.8363
+
0.115 * 1.1071
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0653
+
4.679 * -0.091493
-
0.327 * 1.0523
=
-2.76
* 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))
=
(42.217 / (42.217 + 274.319))
/
(38.855 / (38.855 + 283.662))
=
0.133372
/
0.120474
=
1.1071
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
=
(-100.606 - -13.374
-
65.898)
/
1673.678
=
-0.091493
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.
Hyster Yale has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
Hyster Yale (FRA:HYEA) has a Beneish M-Score of -2.79 as of Aug. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hyster Yale and its competitors. According to the industry distribution chart, Hyster Yale ranks #48 out of 207 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 23.2%.
Is Hyster Yale's Beneish M-Score too high?
Hyster Yale's current Beneish M-Score is -2.79. Based on the distribution chart, Hyster Yale ranks #48 out of 207 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Hyster Yale has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hyster Yale's Beneish M-Score compare to WNC and TWI?
According to the Farm & Heavy Construction Machinery industry distribution chart, Hyster Yale ranks #48 out of 207 companies for Beneish M-Score. This places Hyster Yale in the top 23% 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 Farm & Heavy Construction Machinery company?
A good Beneish M-Score depends on the Farm & Heavy Construction Machinery 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 Hyster Yale and its competitors. Hyster Yale's current Beneish M-Score is -2.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hyster Yale stock overvalued right now?
Based on GuruFocus' analysis, Hyster Yale (FRA:HYEA) is currently considered Fairly Valued. The stock's GF Value™ is €31.24, compared to a current price of €29.40 — trading 5.9% below its estimated fair value. The current Beneish M-Score is -2.79. Hyster Yale's overall GF Score™ is 69/100 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 Hyster Yale (FRA:HYEA), the current Beneish M-Score is -2.79 as of Aug. 26, 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 Hyster Yale (FRA:HYEA) Overvalued in 2026?
Based on GuruFocus' analysis, Hyster Yale stock appears to be undervalued.
The current stock price of €29.40 is trading 5.9% below its estimated GF Value™ of €31.24.
GuruFocus considers Hyster Yale to be Fairly Valued.
Key valuation signals for FRA:HYEA:
Beneish M-Score: -2.79
GF Value™: €31.24 vs. price of €29.40 (5.9% below fair value)
No single metric tells the full story. See the FRA:HYEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hyster Yale Inc designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, aftermarket parts, and technology solutions marketed globally under the Hyster and Yale brand names. The company has four segments, which include three in the lift truck business as discussed below, as well as Bolzoni S.p.A. (Bolzoni). The majority of its revenue is generated from Lift Trucks. Geographically, it operates in America, EMEA, and JAPIC regions, of which maximum revenue is generated from its business in America, which includes lift truck operations in the U.S., Canada, Mexico, Brazil, and Latin America.
69GF Score
Get the complete analysis for FRA:HYEA
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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