IMPRESA SGPSFRA:IR9 +1.45%40 Beneish M-Score is -2.78 as of Jul. 05, 2026. GuruFocus rates FRA:IR9 with a GF Score™ of 40/100 and a GF Value™ of €0.13 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 981 Media - Diversified companies, IMPRESA SGPS ranks better than 64.22% 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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for IMPRESA SGPS's Beneish M-Score or its related term are showing as below:
FRA:IR9'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.75 Max: -2
Current: -2.78
During the past 13 years, the highest Beneish M-Score of IMPRESA SGPS was -2.00. The lowest was -3.26. And the median was -2.75.
IMPRESA SGPS Beneish M-Score Related Terms
IMPRESA SGPS Beneish M-Score Historical Data
* Premium members only.
The historical data trend for IMPRESA SGPS'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.
For the Broadcasting subindustry, IMPRESA SGPS'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.
IMPRESA SGPS Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, IMPRESA SGPS's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IMPRESA SGPS'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 IMPRESA SGPS 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 * 0.9573
+
0.528 * 0.9689
+
0.404 * 1.0372
+
0.892 * 1.0099
+
0.115 * 0.3758
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.043783
-
0.327 * 0.9687
=
-2.78
* 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))
=
(4.706 / (4.706 + 31.7))
/
(4.215 / (4.215 + 8.038))
=
0.129264
/
0.343997
=
0.3758
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
=
(1.153 - 0
-
15.288)
/
322.845
=
-0.043783
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.
IMPRESA SGPS has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
IMPRESA SGPS (FRA:IR9) has a Beneish M-Score of -2.78 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on IMPRESA SGPS and its competitors. According to the industry distribution chart, IMPRESA SGPS ranks #351 out of 981 companies in the Media - Diversified industry, placing it in the top 35.8%.
Is IMPRESA SGPS's Beneish M-Score too high?
IMPRESA SGPS's current Beneish M-Score is -2.78. Based on the distribution chart, IMPRESA SGPS ranks #351 out of 981 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, IMPRESA SGPS has a GF Score™ of 40/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IMPRESA SGPS's Beneish M-Score compare to NXST?
According to the Media - Diversified industry distribution chart, IMPRESA SGPS ranks #351 out of 981 companies for Beneish M-Score. This puts IMPRESA SGPS 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 IMPRESA SGPS and its competitors. IMPRESA SGPS's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IMPRESA SGPS stock overvalued right now?
Based on GuruFocus' analysis, IMPRESA SGPS (FRA:IR9) is currently considered Modestly Overvalued. The stock's GF Value™ is €0.13, compared to a current price of €0.17 — trading 29.5% above its estimated fair value. The current Beneish M-Score is -2.78. IMPRESA SGPS's overall GF Score™ is 40/100 with 8 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 IMPRESA SGPS (FRA:IR9), the current Beneish M-Score is -2.78 as of Jul. 05, 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 IMPRESA SGPS (FRA:IR9) Overvalued in 2026?
Based on GuruFocus' analysis, IMPRESA SGPS stock appears to be overvalued.
The current stock price of €0.17 is trading 29.5% above its estimated GF Value™ of €0.13.
GuruFocus considers IMPRESA SGPS to be Modestly Overvalued.
Key valuation signals for FRA:IR9:
Beneish M-Score: -2.78
GF Value™: €0.13 vs. price of €0.17 (29.5% above fair value)
No single metric tells the full story. See the FRA:IR9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IMPRESA SGPS SA, along with its subsidiaries, operates in the media sector, notably through the broadcasting of television programs and the publication of print and digital publications. The Group's reportable segments are: Television, Publishing, and Others. Maximum revenue is generated from the Television segment, which broadcasts television channels like SIC, SIC Noticias, SIC Radical, SIC Internacional, SIC Mulher, SIC K, SIC Caras, SIC Novelas, and the streaming service OPTO on free-to-air and cable television under broadcasting licenses. This segment also includes GMTS and SIC Studios. The Publishing segment publishes newspapers, books, and other publications, including the weekly newspaper, Expresso. Geographically, the majority of the Group's revenue is derived from Portugal.
40GF Score
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