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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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Powell Industries's Beneish M-Score or its related term are showing as below:
FRA:PW2'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.67 Med: -2.57 Max: -1.6
Current: -2.49
During the past 13 years, the highest Beneish M-Score of Powell Industries was -1.60. The lowest was -3.67. And the median was -2.57.
Powell Industries Beneish M-Score Related Terms
Powell Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Powell 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:PW2 vs FPS, AYI, ENS: Beneish M-Score Comparison
For the Electrical Equipment & Parts subindustry, Powell 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.
Powell Industries Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Powell Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Powell 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 Powell 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 * 1.0648
+
0.528 * 0.9346
+
0.404 * 0.988
+
0.892 * 0.9694
+
0.115 * 0.9284
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1355
+
4.679 * -0.013696
-
0.327 * 0.9043
=
-2.55
* 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))
=
(6.472 / (6.472 + 98.802))
/
(6.979 / (6.979 + 98.417))
=
0.061478
/
0.066217
=
0.9284
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
=
(160.668 - 0
-
174.648)
/
1020.734
=
-0.013696
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.
Powell Industries has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
Powell Industries (FRA:PW2) has a Beneish M-Score of -2.49 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Powell Industries and its competitors. According to the industry distribution chart, Powell Industries ranks #1374 out of 2913 companies in the Industrial Products industry, placing it in the top 47.2%.
Is Powell Industries' Beneish M-Score too high?
Powell Industries' current Beneish M-Score is -2.49. Based on the distribution chart, Powell Industries ranks #1374 out of 2913 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Powell Industries has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Powell Industries' Beneish M-Score compare to FPS and AYI?
According to the Industrial Products industry distribution chart, Powell Industries ranks #1374 out of 2913 companies for Beneish M-Score. This puts Powell 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Powell Industries and its competitors. Powell Industries's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Powell Industries stock overvalued right now?
Based on GuruFocus' analysis, Powell Industries (FRA:PW2) is currently considered Significantly Overvalued. The stock's GF Value™ is €71.87, compared to a current price of €187.10 — trading 160.3% above its estimated fair value. The current Beneish M-Score is -2.49. Powell Industries' overall GF Score™ is 78/100 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 Powell Industries (FRA:PW2), the current Beneish M-Score is -2.49 as of Jul. 29, 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 Powell Industries (FRA:PW2) Overvalued in 2026?
Based on GuruFocus' analysis, Powell Industries stock appears to be overvalued.
The current stock price of €187.10 is trading 160.3% above its estimated GF Value™ of €71.87.
GuruFocus considers Powell Industries to be Significantly Overvalued.
Key valuation signals for FRA:PW2:
Beneish M-Score: -2.49
GF Value™: €71.87 vs. price of €187.10 (160.3% above fair value)
No single metric tells the full story. See the FRA:PW2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Powell Industries Inc is a United States-based company that develops, designs, manufactures, and services custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. The company's principal products comprise integrated power control room substations, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switchgear and control gear, and so on. These products are applied in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and other heavy industrial markets. The company generates the majority of its sales from the United States, and the rest from Canada, Europe, Asia Pacific, and other regions.
78GF Score
Get the complete analysis for FRA:PW2
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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