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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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Interactive Brokers Group's Beneish M-Score or its related term are showing as below:
FRA:KY6'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.21 Med: -2.43 Max: -1.86
Current: -2.45
During the past 13 years, the highest Beneish M-Score of Interactive Brokers Group was -1.86. The lowest was -3.21. And the median was -2.43.
Interactive Brokers Group Beneish M-Score Related Terms
Interactive Brokers Group Beneish M-Score Historical Data
* 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:KY6 vs LPLA, TW, CRCL: Beneish M-Score Comparison
For the Capital Markets subindustry, Interactive Brokers Group'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.
Interactive Brokers Group Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Interactive Brokers Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Interactive Brokers Group's Beneish M-Score falls into.
Interactive Brokers Group 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 Interactive Brokers Group 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 * 1.2481
+
0.528 * 0.9863
+
0.404 * 0.9893
+
0.892 * 1.0374
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7348
+
4.679 * -0.072853
-
0.327 * 0.9663
=
-2.51
* 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))
=
(87.136 / (87.136 + 0))
/
(82.51 / (82.51 + 0))
=
1
/
1
=
1
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
=
(891.775 - 173.582
-
14503.222)
/
189217.885
=
-0.072853
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.
Interactive Brokers Group has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
Interactive Brokers Group (FRA:KY6) has a Beneish M-Score of -2.45 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Interactive Brokers Group and its competitors. According to the industry distribution chart, Interactive Brokers Group ranks #264 out of 704 companies in the Capital Markets industry, placing it in the top 37.5%.
Is Interactive Brokers Group's Beneish M-Score too high?
Interactive Brokers Group's current Beneish M-Score is -2.45. Based on the distribution chart, Interactive Brokers Group ranks #264 out of 704 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Interactive Brokers Group has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Interactive Brokers Group's Beneish M-Score compare to LPLA and TW?
According to the Capital Markets industry distribution chart, Interactive Brokers Group ranks #264 out of 704 companies for Beneish M-Score. This puts Interactive Brokers Group 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Interactive Brokers Group and its competitors. Interactive Brokers Group's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Interactive Brokers Group stock overvalued right now?
Based on GuruFocus' analysis, Interactive Brokers Group (FRA:KY6) is currently considered Significantly Overvalued. The stock's GF Value™ is €33.53, compared to a current price of €82.69 — trading 146.6% above its estimated fair value. The current Beneish M-Score is -2.45. Interactive Brokers Group's overall GF Score™ is 85/100 with 9 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 Interactive Brokers Group (FRA:KY6), the current Beneish M-Score is -2.45 as of Jul. 13, 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 Interactive Brokers Group (FRA:KY6) Overvalued in 2026?
Based on GuruFocus' analysis, Interactive Brokers Group stock appears to be overvalued.
The current stock price of €82.69 is trading 146.6% above its estimated GF Value™ of €33.53.
GuruFocus considers Interactive Brokers Group to be Significantly Overvalued.
Key valuation signals for FRA:KY6:
Beneish M-Score: -2.45
GF Value™: €33.53 vs. price of €82.69 (146.6% above fair value)
No single metric tells the full story. See the FRA:KY6 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Interactive Brokers is a large, automated, retail and institutional brokerage that boasted nearly $780 billion in customer equity at the end of 2025. The company cut its teeth as a market maker, introducing US financial markets to automated and algorithmic training before expanding into brokerage services in 1993. The firm has a wide-ranging client base, with its best-in-class order execution and extremely low margin lending rates catering to a sophisticated audience of hedge funds, proprietary traders, and introducing brokers that account for about 45% of the firm's commissions. With operations spanning more than 170 electronic exchanges, 40 countries, and 29 currencies, Interactive Brokers caters to a global clientele, with more than 80% of active accounts sitting outside the US.
85GF Score
Get the complete analysis for FRA:KY6
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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